Wave of US tariff refunds flows back to Chinese firms, buoying profits by millions

The wave of US tariff refunds is reaching Chinese companies. More than US$38 million in tariff rebates, plus accrued interest, from US Customs and Border Protection (CBP) has landed in the bank accounts of five listed Chinese firms since last month, providing a windfall that is expected to bolster their earnings. The five listed firms primarily operate in the automotive and healthcare sectors. Each secured an average tariff refund of US$7.64 million, representing between 13.12 per cent and 53...

By Emma Ma