For Singapore-based contract manufacturer Watson EP Industries, a Joe Biden presidential victory is a “ray of hope in the time of Covid-19” as the pressure has eased on it having to move its audio speaker production for the United States market out of China.

Already hit by high tariffs from the US-China trade war, its US clients had considered moving production to avoid having to keep paying tariffs as pandemic-induced lockdowns took their toll on global demand for audio speakers at concerts and events.

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