Chinese conglomerates, on a mission to expand their global footprint and avoid “anti-dumping” tariffs, are shifting more of their production to America.
In the United States, cash-strapped states desperate for revenue and jobs, are rolling out the welcome mat for foreign companies that can guarantee both.
More Chinese manufacturers have been launching their own U.S. facilities in the last five years, said Thilo Hanemann, research director at Rhodium Group, a New York-based economic advisory group.
The biggest investments are being made by Chinese firms with products that have been slapped with hefty anti-dumping tariffs, he said.
The United States imposes these financial penalties on imported products that it believes are being sold cheaper than the cost it takes to produce them. Dumping creates an unfair advantage in the marketplace, according to the Department of Commerce….