#China 's $112 billion #cargo gap shows record US #tariff evasion.
Phantom importers, sky high #tariffs and suspiciously cheap shipping offers are fueling a surge in trade fraud, leaving law-abiding American businesses to foot the bill, chart @bloomberg.com
https://www.bloomberg.com/news/features/2026-02-24/china-s-112-billion-cargo-gap-shows-record-us-tariff-evasion
The key takeaway:
High #tariffs + deeply integrated #supplychains = strong incentives for statistical #distortions, rerouting, and #arbitrage.