US flags $26 bn tariff hole as China reroutes exports
The Trump White House reported a potential annual revenue loss of $19 billion to $26 billion due to countries, including China, rerouting exports to evade U.S. tariffs. This practice, known as transshipping, has allowed China to maintain its manufacturing growth despite tariffs. The report precedes a planned visit by Chinese Leader Xi Jinping in September, raising concerns over trade practices.