Markets cheer Biden victory as hopes rise of trade tension de-escalation

SINGAPORE – For Singapore-based contract manufacturer Watson EP Industries, a Joe Biden presidential victory is a “ray of hope in the time of Covid” as the pressure has eased on its having to move its audio speaker production for the US market out of China.

Hit by high tariffs from the US-China trade war, its US clients had considered shifting production to avoid having to keep paying the tariffs as pandemic-induced lockdowns took their toll on global demand for audio speakers at concerts and events.

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