Company: GDHLF
Filing Date: 2025-04-28
Form Type: 20-F
Source: 0001410578-25-000935
Chunk: 56

Company: GDS Holdings Ltd
Filing Date: 2025-04-28
Form: 20-F
Item: Item 3
Chunk 56
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 countries have retaliated and may further retaliate in response to new trade policies, investment restrictions, treaties and tariffs implemented by the United States. For instance, in response to the tariffs announced by the United States, in 2018 and 2019, China announced it would stop buying U. S. agricultural products and imposed tariffs on over US$185 billion worth of U. S. goods. Although China subsequently granted tariff exemptions for certain U. S. products as a result of trade talks and the phase one trade deal agreed with the United States, it is uncertain whether there will be any further material changes to China’s tariff policies. On February 4, 2025, in response to the executive order issued by President Trump on February 1, 2025, China announced retaliatory tariffs on a set of energy and manufactured products imported from the U. S., which took effect on February 10, 2025. On March 4, 2025, in response to the U. S. government’s announcement of an additional 10% tariff on all Chinese exports to the U. S., China imposed a package of countermeasures targeting the United States, including additional tariffs of up to 15% on key U. S. agricultural products, effective on March 10, 2025. On April 4, 2025, following the U. S. government’s announcement of an additional 34% tariff imposed on all Chinese goods, China responded with a new set of countermeasures, including a reciprocal 34% tariff on all imports from the U. S. Subsequently, on April 10, 2025, as a further response, China raised tariff on all imports from the U. S. to 125%.

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The future relationship between China and the United States remains uncertain, and there can be no assurances that the United States or China will not increase tariffs or impose additional tariffs in the future. Any further actions to increase existing tariffs or impose additional tariffs could result in an escalation of the trade conflict, and may have tremendous negative impact on the economies of not merely the two countries concerned, but the global economy as a whole. If these measures and tariffs affect any of our customers and their business results and prospects, their demand for, or ability to pay for, our data center services may decrease, which would materially and adversely affect our results of operations. In addition, if China were to increase the tariff on any of the items imported by our suppliers from the U. S