(Yicai) April 7 -- Several listed Chinese companies in industries such as steel, information and communication, automobiles, and power equipment have responded to the United States’ new “reciprocal tariffs” by saying their overall impact will be limited.

Some companies claimed their US businesses only contribute a small proportion to their revenues, some said they are not subject to the new tariffs, and some noted they are accelerating domestic substitution. Meanwhile, others said they will pay attention to further changes in the international trade situation, flexibly optimize their export strategies, and effectively prevent overseas business risks.

US President Donald Trump announced on April 2 a “reciprocal tariff” scheme, effective April 5, that established a 10 percent minimum base tariff on all US trade partners, including a 34 percent tariff on China.

Quectel Wireless Solutions’ revenue from direct exports to the US only accounted for a small proportion of the total last year, so the new tariffs will not significantly affect its operations, the Chinese supplier of wireless modules said.

“The direct impact of this new round of tariffs on the company is limited and controllable, as customs duties are declared and borne by customers,” said Huaqin Telecom Technology, a Chinese electronics device maker. “The company is also in close communication with customers to pay attention to the impact on sales in end markets.”

In recent years, Huaqin’s overseas business has accounted for about 50 percent of the total, but revenue from products sold directly to the US made up just about 10 percent.

“The North American business accounts for a relatively low percentage of revenue,” said HMT Xiamen New Technical Materials. The automotive fabric product designer sells to North America through its Vietnamese factory, but such business only accounted for 1.2 percent of the total revenue in the first three quarters of last year.

“Our globalization strategy focuses on Southeast Asia, Asia Pacific, and Europe, with our new factory in Vietnam expected to go on stream in the second quarter of this year, with a planned output value of CNY2 billion (USD273 million),” HMT noted. “Therefore, the new US additional tariffs will not adversely impact our business and operations.”

Eastroc Beverage’s main raw material procurement and production have achieved a full domestic layout, and the localization rate of its packaging material suppliers is 100 percent, the Chinese energy and electrolyte drink giant said.

Through its self-built smart production base and digital supply chain system, the company’s domestic substitution rate of key production equipment is nearly 100 percent, which effectively resists the risk of external supply chain fluctuations, Eastroc noted.

The US tariffs will hardly affect Lehui International Engineering Equipment, according to the Chinese manufacturer of beer brewing equipment. Exports account for about half of Lehui’s overall revenue, but more than 90 percent of them are shipped to developing countries along the Belt and Road Initiative.

“The new US tariffs have almost no impact on the company’s costs because our products were subject to zero tariffs before and will continue to have zero tariffs in the future,” a leading Chinese home appliance firm pointed out. “However, it may be necessary to pay attention to the resulting declining market demand.”

The above home appliance maker said it sells over six million televisions to the US a year, with annual revenue of about CNY8 billion. These products are mostly produced in Mexico and are fully compliant with the US-Mexico-Canada Agreement.

“Overall, the long-term development of the steel industry is stable, as long as the supply side is controlled, because the Chinese steel industry has made policies in advance,” a listed steel giant said.

Even though the tariffs will affect China’s exports to the US and other countries on the surface, this conduct will only adjust the trade pattern and slightly hinder China’s steel exports this year, thanks to the resilience of global steel demand, the firm added.

Editor: Futura Costaglione