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HK Shippers' Council Chair: CN Exporters Abandoning US-Bound Cargo Mid-Transit to Shun Tariffs Is Unwise
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White House officials confirmed this morning (April 11, Hong Kong time) that an extra 145% tariff will be imposed on imported Chinese goods. Following an SCMP report on Thursday (10th) about Chinese exporters abandoning shipments en route to the U.S. and handing containers over to shipping companies, Willy Lin, Chairman of Hong Kong Shippers' Council, warned that such behavior wreaks severe consequences, while he has not heard of local exporters engaging in similar actions. Lin urged exporters not to abandon cargo mid-transit to evade the White House’s steep tariffs, calling it "irrational" behavior that would not only incur massive costs but also damage the reputation of both the companies involved and the nation. He described such actions as highly irrational and irresponsible, noting that abandoning cargo at sea would leave exporters with a total loss - losing both the goods and any insurance compensation due to unfulfilled contract obligations - while potentially facing lawsuits from importers or prospective clients. He highlighted that this not only severely damages corporate reputations, deterring overseas buyers and slashing orders, but also tarnishes China’s trade image, ultimately resulting in a lose-lose situation. AAStocks Financial News |
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