第一财经·2025-05-10 09:44Core Viewpoint - The article discusses the challenges faced by Chinese companies, particularly泉峰控股 and 巨星科技, in the U.S. market due to high tariffs and manufacturing costs, emphasizing the shift of production to Vietnam as a strategic response to these challenges [1][4][10]. Group 1: Market Dynamics - The U.S. electric tools and outdoor power equipment market exceeded 170 billion RMB in 2020, with a significant portion of products being manufactured in China [1]. - After the U.S. imposed a 145% tariff,泉峰控股 halted exports from China and increased production in Vietnam, which has also faced a 10% tariff [4][5]. - The U.S. market is the largest for tools, with an estimated 50% of tools sold being manufactured in China, particularly for electric tools [4][10]. Group 2: Production Strategy -泉峰控股 has been preparing to increase its production capacity in Vietnam since Trump's first term, with plans for a second manufacturing base in 2024 [5]. -巨星科技 has also expanded its production in Vietnam, moving from manual to electric tools to meet U.S. demand [5][6]. - Both companies are adjusting their supply chains to mitigate the impact of tariffs, collaborating with U.S. retailers to find solutions [6][10]. Group 3: Cost Considerations - The cost of manufacturing in the U.S. is estimated to be at least 50% higher than in China, making it unfeasible for companies to produce there [9][10]. - The lack of a complete supply chain in the U.S. for tool manufacturing further complicates the feasibility of local production [10]. - The imposition of tariffs on raw materials has increased manufacturing costs in the U.S., reducing competitiveness [10]. Group 4: Globalization and Competition - Chinese companies are pursuing globalization and brand development, with泉峰控股's global sales revenue quadrupling over the past decade [14]. - The competition with established brands like Stanley Black & Decker is intensifying, with Chinese companies gradually capturing market share [14][15]. - Despite progress, Chinese companies still face challenges in brand recognition and high-end product offerings compared to their Western counterparts [14][15].