Amazing FBA Amazon and ECommerce Podcast, for Amazon Private Label Sellers, Shopify, Magento or Wooc

Amazing FBA Amazon and ECommerce Podcast, for Amazon Private Label Sellers, Shopify, Magento or Wooc


US tariffs on china, Hong Kong Protests, Brexit

August 06, 2019

US tariffs on china
PLUS: Hong Kong Protests, Brexit Latest (Amazon Newsday)
US Trade Tariffs on Chinese Goods
US President Donald Trump has said he will impose new US trade tariffs on Chinese goods. A fresh 10% tariff is set to be imposed on a further $300bn (£247bn) of Chinese goods, in a sharp escalation of a trade war between the two countries.
(Read here about the original US tariffs on Chinese goods)
It came after the latest round of bilateral talks showed little sign of a breakthrough.
The new tariffs, due to take effect on 1 September, effectively tax all Chinese imports to the US.
The duty is likely to target a wide range of goods, from smartphones to clothing.
China's Foreign Minister Wang Yi criticized the US move.
"Adding tariffs is definitely not a constructive way to resolve economic and trade frictions, it's not the correct way," Mr Wang said on the sidelines of a meeting of South-East Asian ministers in Bangkok.
Mr Trump announced the tariff plan on Twitter while taking aim at China for not honouring promises to buy more US agricultural products at this week's negotiations in Shanghai.
He also attacked Chinese President Xi Jinping for failing to do more to stem sales of the synthetic opioid fentanyl.
In later remarks, the US president told reporters the 10% tariff was a short-term measure and that tariffs could be lifted further in stages to more than 25%.
"Somebody should have done this with China a long time ago," he added.

US Response
On Wall Street, the Dow Jones share index closed down 1.1%, and Asia markets were much lower on Friday. Oil prices fell sharply.
The US Chamber of Commerce, which represents more than three million US companies, said the latest tariffs on China "will only inflict greater pain on American businesses, farmers, workers and consumers, and undermine an otherwise strong US economy".
It urged the two sides to remove all tariffs.
The latest round of duties comes amid mounting concern over how effective Mr Trump's strategy is proving to be.
On Thursday, Mr Trump's former chief economic adviser, Gary Cohn, said in a BBC interview that the tariff battle was having a "dramatic impact" on US manufacturing and capital investment.
The International Monetary Fund has warned that the US-China trade war is the biggest risk to the global economy.

Hong Kong Protests
Police in Hong Kong have been fighting running battles with activists in a third consecutive day of protests after a call for a general strike caused widespread disruption on Monday.
Protesters blocked roads and paralysed train services at peak times on a day of action across the city.
More than 200 flights were cancelled as the protests entered their ninth week.
Hong Kong's leader, Carrie Lam, has pledged to restore law and order, rejecting calls for her resignation.
Initially, the demonstrations, which began on 9 June, focused on a controversial extradition law, which would have allowed the transfer of suspects to mainland China. However, the protests have now become a wider challenge to Beijing's authority.
Ms Lam warned that Hong Kong was "on the verge of a very dangerous situation".
In her first media address in two weeks, Ms Lam said the protesters' actions had challenged the principle of "one country, two systems" - the extra freedoms granted to Hong Kong when it was returned from British to Chinese rule in 1997.
She also accused activists of using the extradition bill as a cover for their real goals.
"We continue to allow these violent protesters to make use of the [extradition] bill to conceal their ulterior motives," she said.