President Donald Trump's new tariffs are helping to erode China's appeal as a place where stuff gets made.

Ricoh Co. is moving some manufacturing from China to Thailand to avoid potential risks from the U.S.-China trade tensions, the Japanese office-equipment maker said Thursday. That came hours after a report that Taiwan's Kenda Rubber Industrial is investing in Vietnam to do the same.

Those two examples are just the most recent from a chorus of executives who are citing the trade war as the final straw in their shift out of China, with margins already squeezed by rising labor costs, tougher environmental standards, and domestic competition. Last week, Trump hiked tariffs on $200 billion of Chinese imports, and the U.S. is readying the expansion of that treatment to the remainder.

Complete your profile to continue reading and get FREE access to Treasury & Risk, part of your ALM digital membership.

Your access to unlimited Treasury & Risk content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Thought leadership on regulatory changes, economic trends, corporate success stories, and tactical solutions for treasurers, CFOs, risk managers, controllers, and other finance professionals
  • Informative weekly newsletter featuring news, analysis, real-world case studies, and other critical content
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the employee benefits and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Meg Waters

Meg Waters is the editor in chief of Treasury & Risk. She is the former editor in chief of BPM Magazine and the former managing editor of Business Finance.

News