Different from the first several batches of tariffs that focused more on industrial and agricultural products, the most rece
nt 25 percent tariffs on Chinese imports target mostly consumer products, including sneakers, clothing and furniture.
Trump has, on his Twitter account, asserted that “there is no reason for the U.S. Consumer to pay the Tariffs”.
The open letter, however, said “there should be no misunderstanding” that US consumers pay for tariffs on products that are imported.
“As an industry that faces a $3 billion duty bill every year, we can assure you that any incr
ease in the cost of importing shoes has a direct impact on the American footwear consumer,” it said.
It is an “unavoidable” fact that as prices go up at the border due to transportation costs, labor r
ate increases or additional duties, the consumer pays more for the product, the footwear trade and business association said.
nced that when conditions are right, artificial means will be used to make rain.
Chen Lijuan, the chief weather forecaster of the National Climate Center, sai
d rain is on the way to the northeast and will arrive next week. That should alleviate the
drought, but dry conditions will continue to make things worse in Yunnan, she said.
Zhou Wenyi, a 26-year-old from Kunming, Yunnan province, said that the weather is very strange this year.
“The climate of Yunnan is kind of like the southeastern Asian countr
ies, where April and May are the two hottest periods before the rainy season arrives. The hig
hest temperature in Yunnan’s summer period usually is around 21 to 22 C,” she said.
enced the renminbi’s performance, said Wang Shengzu, co-head of Investment Strategy Group Asia Goldman Sachs.
But the currency is unlikely to slip out of a reasonable range, assuming there is no big shock from the trade talks, Wang said.
As a sound base for a stable renminbi, “the Chinese economy has shown sig
ns of bouncing up, shown by the faster-than-expected growth of industrial output, ret
ail sales, and credit in the first quarter, and this means that economic activity is improving with supportive pol
icies”, said Wang.Liu Shiyu, China’s former top securities regulator, was under investigation for alleged violations of
the law, according to a statement Sunday from the Central Commission for Discipline Inspection.