Despite the United States government's recent tariff increases on imports from China and other trading partners, business remains brisk at the Yiwu International Trade Market, the world's largest wholesale hub for small commodities. In the first quarter of this year, Yiwu's total import and export value reached 167.45 billion yuan (about $23 billion), an increase of 13 percent year-on-year. In an effort to offset the impact of US tariffs, many merchants there are ramping up product innovation and tapping into wider international markets.