Is Sritex just the start? Indonesia players on edge over further fallout from US tariffs
The collapse of Indonesian textile giant Sritex has raised concerns about the potential fallout from Chinese goods dumping, exacerbated by looming US tariffs. Sritex, once Southeast Asia’s largest textile manufacturer, shut down after 58 years due to debt repayment failures, impacting over 10,000 workers. This closure was partly attributed to a surge in cheap Chinese imports and insufficient government support.
The industry is now bracing for the effects of increased US tariffs on Chinese imports, fearing that China may resort to dumping its low-cost apparel into developing countries like Indonesia. This situation is further complicated by the ongoing trade tensions between the US and China, with both countries imposing tariffs on each other's goods.
via SCMP Full Text Feed
The collapse of Indonesian textile giant Sritex has raised concerns about the potential fallout from Chinese goods dumping, exacerbated by looming US tariffs. Sritex, once Southeast Asia’s largest textile manufacturer, shut down after 58 years due to debt repayment failures, impacting over 10,000 workers. This closure was partly attributed to a surge in cheap Chinese imports and insufficient government support.
The industry is now bracing for the effects of increased US tariffs on Chinese imports, fearing that China may resort to dumping its low-cost apparel into developing countries like Indonesia. This situation is further complicated by the ongoing trade tensions between the US and China, with both countries imposing tariffs on each other's goods.
via SCMP Full Text Feed
