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revenue collected by the US government through hefty tariffs on Chinese imports, has been paid almost entirely by US importers.
“Some of these tariffs have been passed on to US consumers, such as those on washing machines, wh
ile others have been absorbed by importing firms through lower profit margins,” the research said.
Any further increase in tariffs will likely be passed through to consumers, it said.
China and the US, the world’s two largest economies, have been embroi
led in a tit-for-tat trade confrontation over the past few months. Washington threatened to fur
ther escalate a tariff war and increased tensions by tightening restrictions on Chinese companies.
Earlier this month, the US raised tariffs on $200 billion of Chinese imports from 10 percent to 25 percent, and China took coun
termeasures. Then the US administration listed about $300 billion more of Chinese goods for possible tariff hikes.
ries boasting the concept, which originated in Japan, have sprung up in many cities includi
ng Shanghai, Xi’an, capital of Shaanxi province, and Shenzhen and Guangzhou, both in Guangdong province.
Kong Yanling is a big fan of singles-friendly restaurants. The 25-year-old unattached Xi’an res
ident remembers passing a Korean-style chicken restaurant a few years ago and deciding to drop in.
However, the waitress at the door told her the restaurant only served large, shared platters. Kong took the hint and left.
She has also found herself dining with strangers involuntarily when waiters have asked if she minded other people sharing her table.
“I don’t mind eating alone, but sometimes things like that really bugged me. I am ve
ry happy to see more singles-friendly restaurants appearing so there is more choice when eating out,” she said.
ties brought by the BRI, which by some estimates could be worth 1.8 billion pounds ($2.33 billion) annually to the British economy.
As a financial hub for international infrastructure investmen
t, British firms and international companies based in the UK stand ready to provide many of the ser
vices required along the Belt and Road, especially as it becomes more of a shared venture, she said.
They can also provide private financing required by the project and support thro
ugh green finance, consultancy, rule of law and foreign exchange, McGuinness added.
Seventy years after the founding of the People’s Republic of China, ties between China and UK h
ave gone from strength to strength, with bilateral trade now worth nearly 70 billion pounds, McGuinness said.
“I look forward to celebrating this long, fruitful relationship with our Chinese counterp
arts, and to marking the next chapter of our partnership in the Belt and Road,” she added.