With tariffs increasingly cutting into profits, some companies in Asia are returning home to produce their goods, or moving away from China where their factories were located.
The trend of companies moving back to their home base — from China — is most prevalent in the electronics and capital machinery sectors in Japan and Taiwan, a Nomura analysis of 56 companies found.Meanwhile, the largest beneficiaries from the tariff fight are mainly in Asia, with Vietnam, Taiwan and Thailand dominating. Outside Asia, Mexico is a standout.
Garment factory workers working in a factory in Hanoi on May 24, 2019. From socks and sneakers to washing machines and watches, countries across Asia are hoping the US tariff squeeze on China will presage a permanent shift in manufacturing patterns as big name brands dodge the trade war in cheaper locations to make their goods.
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