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Tariffs Are Bitter Tea for Manhattan’s Chinatown

  • The Chancellor announced plans to strengthen the UK economy against cheap imports following US President Donald Trump's tariffs on Chinese goods, now reaching 145%.
  • Rachel Reeves stated that today's package will help businesses compete fairly, addressing concerns about low value imports benefiting foreign companies over local stores.
  • Chinatown businesses are facing heightened pressure from tariffs leading to rising prices and fears of survival, with local shop owners expressing dire concerns about their future.
  • Vincent Zhao mentioned the trade war's impact on his business, stating that prices will fluctuate and urging others not to stockpile amid growing uncertainties in the market.
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The City broke the news in on Monday, April 21, 2025.
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