Is that from a decrease in demand, or an increase in supply from other countries? I'm curious what the price elasticity of demand looks like for Chinese imports.
My interpretation is: it’s domestic overproduction because China isn’t exporting as much to US so it will consume domestically and then not have need for imports from the other SE Asia countries.
My question is more about where the US is then importing from. I assume some goods are more elastic than others. So will the US simply stop buying, or will it shift to buying elsewhere with lower tarrifs?