U.S. huge tariffs on Chinese goods makes it more expensive for consumers: Chairman of 48 Group Club

China has always been innovative and has great brands, Jack Perry, chairman of the 48 Group Club, said at the Annual Conference of Financial Street Forum 2025 on Tuesday.

When he prepared to come to China, all the ladies in his family wanted to get LABUBU. "Once you come to China, you keep coming back,"　said Jack Perry.　

When asked about China-U.S. trade, Jack Perry said the U.S. wanted to put huge tariffs on Chinese companies and Chinese goods, but that made it more expensive for the consumers in America and also made China look elsewhere.　

(Reported by Chi Hanyu and Li Jiayue; Edited by Jiang Lu)