'Frightening': Trump's historic power grab worries experts
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South China Morning Post
18 minutes ago
- South China Morning Post
Trump's trade war latest challenge for 97-year-old Asian market in Seattle
Uwajimaya, the Seattle-based Asian grocer, has navigated hardship before. Not long after the family business opened its doors in 1928, it temporarily closed when founders Fujimatsu and Sadako Moriguchi and several of their children were incarcerated at a Japanese detention camp during World War II. More recently, the Covid-19 pandemic strained the grocery industry's supply chain, forcing Uwajimaya, among others, to raise prices. Now, President Donald Trump's rapidly shifting approach to tariffs and trade deals is causing a wave of economic uncertainty for the store chain that is likely to leave its customers feeling the pinch. The levies are just one more factor affecting grocery prices. With distributor and grocery margins where they are, it cannot all be absorbed by the distributors and the retailers,' said Uwajimaya's president and CEO Denise Moriguchi. 'For sure, it will be felt by everyone.' Last month, the US Bureau of Labor Statistics tracked an uptick in inflation in the Seattle-Tacoma-Bellevue area of Washington state, with regional costs jumping 2.7 per cent year over year. The upswing was partially attributed to tariffs. However, news of potential price increases at Uwajimaya isn't scaring off some of its loyal customers. Seattle resident Sara Louie, 29, said prices were skyrocketing across industries. 'Everything is expensive anyways,' Louie said.
RTHK
2 hours ago
- RTHK
Trump announces 25pc tariffs on imports from India
Trump announces 25pc tariffs on imports from India Donald Trump says the United States has a "massive" trade deficit with India. File photo: Reuters US President Donald Trump said on Wednesday that imports from India will face 25 percent tariffs, while also announcing an unspecified "penalty" for New Delhi's purchases of Russian weapons and energy. The measures will kick in on Friday, Trump posted on his Truth Social platform. "Remember, while India is our friend, we have, over the years, done relatively little business with them because their tariffs are far too high, among the highest in the world, and they have the most strenuous and obnoxious non-monetary trade barriers of any country," Trump said. He also posted in an all-caps message that the United States has a "massive" trade deficit with India. He added that India has "always bought a vast majority of their military equipment from Russia, and are Russia's largest buyer of ENERGY, along with China, at a time when everyone wants Russia to STOP THE KILLING IN UKRAINE." Trump did not specify what the penalty he referred to for Russia trade will be. The measure comes as the US president signalled he intends to tighten US pressure on Moscow to halt fighting in Ukraine and negotiate a peace deal. On Tuesday, Trump said he was giving Russian President Vladimir Putin 10 days, which would mean the end of next week, to change course in Ukraine or face unspecified punishment. India, the world's most populous country, was one of the first few major economies to engage Washington in broader trade talks. But six months later, Trump's sweeping demands and India's reluctance to fully open its agricultural and dairy sectors have so far prevented New Delhi from sealing a deal that would shield it from punitive tariffs. (AFP)
South China Morning Post
2 hours ago
- South China Morning Post
Trump to impose 25% tariff on India from August 1, adding penalty for Russia ties
US President Donald Trump said on Wednesday that he would impose a 25 per cent tariff on goods from India, plus an additional import tax because of India's purchasing of Russian oil. Trump said on social media on Wednesday that India 'is our friend' but its 'Tariffs are far too high' on US goods. The Republican president added that India buys military equipment and oil from Russia, which Trump said had enabled the war in Ukraine. As a result, he intended to charge an additional 'penalty' starting on Friday as part of the launch of the administration's revised tariffs on multiple countries. Trump did not specify what the penalty he referred to for Russian trade will be. The measure comes as the 79-year-old Republican has signalled he intends to tighten US pressure on Moscow to halt fighting in Ukraine and negotiate a peace deal. On Tuesday, Trump said he was giving Russian President Vladimir Putin 10 days – which would mean the end of next week – to change course in Ukraine or face unspecified punishment. 'We're going to put on tariffs and stuff,' he said, but 'I don't know if it's going to affect Russia because obviously he wants to keep the war going.'
