U.S. President Donald Trump dismissed the economic impact of the trade war on U.S. consumers in an interview with ABC News. He said he doesn’t believe that hard times are ahead for the U.S. and that China will likely absorb the impact of the steep trade levies imposed by his administration. “You don’t know whether or not China’s going to eat it. China probably will eat those tariffs,” he said. (BLOOMBERG)
China’s Guangzhou Port, one of its busiest logistics hubs, opened a direct shipping route to the megaport of Chancay in Peru. The route will lower logistics costs and increase trade between China and South America. In addition to Chancay, it will also speed up access to other key ports in the region, including Mexico’s Port of Manzanillo and Chile’s Port of San Antonio. (REUTERS)
