Resolute Zhejiang enterprises brace for the long road ahead

Enterprises in Zhejiang province are looking to mitigate the fallout from rising trade friction between China and the United States through cross-border e-commerce, alternative markets and industrial upgrades.

The move comes after US authorities decided to impose an additional 25 percent tariff on Chinese exports worth $200 billion and plans to target another $300 billion worth of products from China. The US was one of the most important trade partners for Zhejiang. According to customs data, Zhejiang's trade with the US accounted for 13.7 percent of its total trade in April this year.

"Companies that have business relations with the US have already felt the shock," said Li Jianwei, chairman of Hangzhou Euroluck Import and Export Co, a cloth and textile trader. Li said orders started falling from the second half of 2018 on fears of punitive tariffs, though textile was not included in the additional tariff list then.