Citi client poll shows companies adjusting supply chains amid US-China trade tension
HONG KONG - A client poll conducted by Citibank of trade clients in the region shows more than half are already adjusting their supply chain in response to trade tensions. While many clients are still evaluating the impact on their business most are not waiting.
Citi says the majority are implementing changes to ensure limited disruption to their supply chains and business. The poll was conducted in the last month.
"This client poll underlines how companies are already proactively adjusting to the realities of the trade tensions," said
Rajesh Mehta, Citi's Head of Treasury and Trade Solutions for Asia Pacific.
"We have been supporting our clients in this transition and working with them, using our network."
Mehta said Citi was seeing strong growth in intra-Asia trade corridors as a result of supply chain reconfiguration across its Treasury and Trade Solutions business.
In the poll results, nearly three-quarters of respondents said they expect China-US trade tensions to last longer than a year. Half of all clients polled said their supply chain had already been impacted. www.citi.com (ATI).