Hong Kong Today Friday
Feb 7, 2025
The Commerce Secretary criticizes U.S. tariffs affecting Hong Kong's trade. E-commerce faces challenges as Hong Kong Post halts U.S. shipments, impacting smaller Chinese businesses. Ocean Park retracts a controversial panda-themed watch amid conservation concerns. A discussion on traffic accidents coincides with alarming animal cruelty cases, raising public awareness. The tragic aftermath of a mass shooting in Sweden prompts reflections on safety. Liverpool's recent football victory sets the stage for their quest for a historic season.
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Impact of US Tariffs on Hong Kong
- Hong Kong's Commerce Secretary, Algernon Yao, criticized the US for new tariffs impacting Hong Kong goods.
- These tariffs affect a small percentage of Hong Kong's total exports, but disregard Hong Kong's separate customs territory status.
Impact on E-Commerce
- The US removal of the duty-free exemption on low-value parcels from China heavily impacts e-commerce.
- Chinese e-commerce firms, especially those shipping through Hong Kong, face increased costs and customs clearance complexities.
Smaller Shippers Affected
- Smaller shippers using Hong Kong as a hub for e-commerce will likely struggle due to increased costs.
- Larger companies like Alibaba, with US warehouses, remain less affected by the new tariffs.