White House says it's losing $19B-$26B a year in revenue as countries dodge tariffs
WASHINGTON — The Trump White House said in a new report on Thursday that countries are routing their exports through third countries to avoid U.S. tariffs, estimating that there are tax revenue losses of $19 billion to $26 billion annually. The report specifically highlights that China responded to new tariffs in 2018 by sending their goods to other nations ranging from Mexico to Malaysia for…
The Trump administration has released a report revealing that countries are evading U.S. tariffs by routing their exports through third nations, resulting in annual revenue losses of $19 billion to $26 billion. This deceptive tactic, known as transshipping, involves sending goods from countries like China to others such as Mexico and Malaysia for minimal processing before being resold.
This practice has allowed China to continue expanding its manufacturing base, potentially posing a threat to U.S. industries and jobs. White House trade adviser Peter Navarro stated that China is using over 40 countries to launder its exports, effectively avoiding tariffs. The report is released before a scheduled September visit by China, highlighting the ongoing issue.
Written by urgent.news from The Korea Times's reporting — not their text. Machine-written — it may contain errors, so check the original before relying on it.
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