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Cisco cuts back China manufacturing to ease tariffs hit

Richard Waters in San Francisco

Cisco Systems said on Wednesday that it had slashed its manufacturing in China in anticipation of higher import tariffs levied in the US, as it laid out a financial forecast that showed it did not expect to be hurt by the deepening trade war. In an interview with the Financial Times, Chuck Robbins, chief executive, said the company had started planning for the higher tariffs last summer, when the White House put a 10 per cent levy on many of its products, with a threat to increase the rate to 25 per cent later.