With U.S. levies on $200 billion of Chinese products set to balloon to 25% in 2019, companies on the mainland making everything from car parts to cameras are lining up other production facilities across Southeast Asia.
Ayala Corp., the Philippines’ oldest conglomerate, is in talks to provide land to a Chinese company planning to build one of the world’s biggest tire factories to sidestep U.S. duties, Ayala Chairman and Chief Executive Officer Jaime Augusto Zobel said in an interview Tuesday at Bloomberg’s New Economy Forum in Singapore.
