Orders have evaporated for Richard Chen, who manufactures Christmas decorations in southern China for U.S. retailers, including Walmart and Costco, facing crippling U.S. tariffs. "The orders are half of what they were last year," said Chen, who is based in the manufacturing hub of Dongguan. He is now in survival mode. "There’s no more scope to cut prices. But to get orders we sometimes have to take a price cut ... we have no choice," Chen said, declining to elaborate on cuts he had agreed to.