The National Retail Federation concluded that the proposed tariffs of 25 per cent would be too costly for US retailers to absorb and would be passed on to consumers – and many shoppers could be unwilling to pay the higher prices. Photo: Bloomberg

US retail group says extra tariffs on Chinese goods will cost Americans US$18 billion a year

  • National Retail Federation urges Washington not to impose additional 25 per cent duties on US$300 billion of products from China
  • It says new tariffs threatened by Donald Trump will be passed on to consumers and ‘it’s time to re-evaluate’ the strategy
Topic |   US-China trade war

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The National Retail Federation concluded that the proposed tariffs of 25 per cent would be too costly for US retailers to absorb and would be passed on to consumers – and many shoppers could be unwilling to pay the higher prices. Photo: Bloomberg
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US President Donald Trump last met Chinese counterpart Xi Jinping in Argentina in December. Photo: AFP

China signals currency war truce ahead of Xi Jinping’s meeting with Donald Trump at G20 in Japan

  • US president confirms first meeting between the two world leaders since December will take place next week in Osaka
  • The People’s Bank of China will sell 30 billion yuan (US$4.3 billion) worth of short terms bonds in Hong Kong next week to facilitate propping up the yuan
Topic |   Yuan

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US President Donald Trump last met Chinese counterpart Xi Jinping in Argentina in December. Photo: AFP
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