Chinese Imports and Press Conference

u.s: The move followed the U.S. government's plan for new tariffs on 300 billion a year of Chinese imports, according to Xinhua China. Any enforcement of new U.S. levies will further heighten tensions, and China will have to take countermeasures, Ministry of Commerce spokesman Gao Feng said Thursday at a press conference. Some of the new Chinese tariffs, which will be 5% or 10%, will take effect Sept. 1 and the rest Dec. 15. Any escalation will hurt U.S. customers and companies and increase the chances of a global recession, he said. FINANCE & ECONOMICS Hong Kong / Three banks condemn Hong Kong violence through ads Two British banks and a Hong Kong local bank spoke up through newspaper ads, condemning violence in the city and calling for a peaceful resolution. President Donald Trump in a tweet vowed further reaction and said he ordered American companies to find alternatives to doing business in China. (news.financializer.com). As reported in the news.