The ultimate impact may depend upon whether US importers are willing to pass on the costs of tariffs to consumers, says Peter Levesque of Modern Terminals
Escalating trade tensions between the United States and China are likely to catch Hong Kong and its struggling shipping industry right in the middle, according to one of the city’s main port operators.
The US has placed tariffs on nearly half of all Chinese goods exported to the US and President Donald Trump has threatened to impose levies on nearly US$500 billion worth of annual exports as he seeks to pressure Beijing to stop what he claims are unfair trade practices. China has responded with its own retaliatory actions.
The latest round placed a 10 per cent tariff on some US$200 billion worth of goods, with the duties set to go to 25 per cent on January 1 if the US and China cannot reach a resolution.
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Source: South Carolina Morning Post