JD.com commits to supporting Chinese exporters amid tariff uncertainty
JD.com headquarters. Credits: JD.com. E-commerce giant JD.com is set to launch a 200 billion yuan (20.57 billion pounds) fund to help support Chinese exporters as uncertainty over tariffs continues to weigh on the market. In a statement to Reuters, the Chinese firm said it would send its own employees to domestic companies associated with foreign trade to purchase their “high-quality products”. These will then be featured and sold in a special area of its e-commerce platform, where traffic will be directed in order to support the businesses. JD’s intention is to help Chinese exporters re-coup any losses made from the reduced sales of overseas consumers, Reuters said in its report, pushing domestic sales in their place. The news comes as the trade war between the US and China continues to intensify. Earlier this month, the US Trump administration applied tariffs of 145 percent on most Chinese imports. Beijing later responded with its own hike in tariffs of 125 percent on US products imported into China. Elsewhere, president Donald Trump initiated a 90-day “pause” on the introduction of tariffs for certain countries, while “grace measure” has been applied to other regions, accompanied by a standard 10 percent tariff.
E-commerce giant JD.com is set to launch a 200 billion yuan (20.57 billion pounds) fund to help support Chinese exporters as uncertainty over tariffs continues to weigh on the market.
In a statement to Reuters, the Chinese firm said it would send its own employees to domestic companies associated with foreign trade to purchase their “high-quality products”.
These will then be featured and sold in a special area of its e-commerce platform, where traffic will be directed in order to support the businesses.
JD’s intention is to help Chinese exporters re-coup any losses made from the reduced sales of overseas consumers, Reuters said in its report, pushing domestic sales in their place.
The news comes as the trade war between the US and China continues to intensify. Earlier this month, the US Trump administration applied tariffs of 145 percent on most Chinese imports. Beijing later responded with its own hike in tariffs of 125 percent on US products imported into China.
Elsewhere, president Donald Trump initiated a 90-day “pause” on the introduction of tariffs for certain countries, while “grace measure” has been applied to other regions, accompanied by a standard 10 percent tariff.
