By Kelly Cloonan
NextPlat is pausing plans to bring some new products to Chinese consumers after Beijing raised tariffs on U.S. goods.
The company said Friday the escalation in tariffs would limit the U.S. products' ability to compete with locally produced goods.
The company, which helps businesses sell their goods domestically and internationally via ecommerce platforms like Alibaba's Tmall, expects the change in plans to have a material impact on its anticipated sales of U.S. products into China.
The move affects a new line of vitamins and supplements under the Florida Sunshine brand. Management is still reviewing opportunities to sell the products in other markets, the company said.
China raised tariffs on U.S. goods to 125% earlier on Friday, the latest move in an escalating trade war between the two countries. President Trump previously raised import taxes to 145% on the country.
NextPlat plans to continue selling existing and new products from OPKO Health Europe, a subsidiary of OPKO Health, in China. Those goods are not produced in the U.S. and won't be subject to additional tariffs, the company said.
Write to Kelly Cloonan at kelly.cloonan@wsj.com
(END) Dow Jones Newswires
April 11, 2025 17:13 ET (21:13 GMT)
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