REUTERS/Lucy Nicholson/File Photo Acquire Licensing RightsOct 23 (Reuters) - Jason Andringa’s company was part of the stampede of U.S. businesses that built factories in China.
But the mood of Vermeer and many other global producers has turned sour on China.
Rather than expand in China, these companies are directing new investments to other low-cost countries such as Vietnam and India.
Ryan Gunnigle, CEO of Atlanta-based toy maker Kids2, said he is continuing to invest in his China factories, adding both automation and new capacity.
The CEO of Danby Appliances, a Canadian company that sells over half of its products in the U.S., got 85% of its goods from Chinese factories five years ago.
Persons:
Lucy Nicholson, Jason Andringa’s, Vermeer, Biden, Joe Biden, Xi Jinping, Gina Raimondo, Matt Dollard, Ryan Gunnigle, Kids2, Jim Estill, He’s, Danby, Timothy Aeppel, Anna Driver
Organizations:
Port, REUTERS, U.S ., U.S, Nvidia, Wall Street, U.S . Bureau, China Business Council, Reuters, Asia Pacific Economic Cooperation, Trump, RSM US, Appliances, Thomson
Locations:
Port of Long Beach, Port of Los Angeles, Los Angeles , California, U.S, China . Iowa, China, Mexico, Asia, San Francisco, Beijing, Washington, Taiwan, Vietnam, India, Atlanta, Canadian, Turkey, Canada