Web3MediaBreaks – NextPlat Corp (NASDAQ: NXPL) Halts Some U.S. Product Plans in China Over Tariff Escalation

NextPlat (NASDAQ: NXPL, NXPLW), a global e-commerce provider, announced it will pause select initiatives within its e-commerce development program due to China’s recent tariff hikes on U.S.-produced goods. The affected efforts include the planned launch of the Florida Sunshine brand of vitamins and supplements, which would face high import costs and diminished competitiveness in the Chinese market. The company launched its cross-border program in April 2023 to help U.S. businesses reach Chinese consumers via platforms like Alibaba’s Tmall. Despite the setback, NextPlat will continue offering OPKO Health Europe’s (NASDAQ: OPK) non-U.S.-made products in China, including nutraceuticals, supplements and upcoming pet care items, which are not subject to the new tariffs.

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About NextPlat Corp

NextPlat is a global e-commerce platform company created to capitalize on multiple high-growth sectors and markets including technology and healthcare. Through acquisitions, joint ventures and collaborations, the company intends to assist businesses in selling their goods online, domestically, and internationally, allowing customers and partners to optimize their e-commerce presence and revenue. NextPlat currently operates an e-commerce communications division offering voice, data, tracking, and IoT products and services worldwide as well as pharmacy and healthcare data management services in the United States through its subsidiary, Progressive Care Inc.

NOTE TO INVESTORS: The latest news and updates relating to NXPL are available in the company’s newsroom at https://ibn.fm/NXPL

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