Amazon boss gives chilling warning to all Americans over Trump's tariffs

Amazon is canceling some wholesale orders from Asia that it directly imports and ships to its warehouses as it responds to U.S. President Donald Trump's trade war, according to a new report.

Amazon CEO Andy Jassy said the company is still digesting the impact of Trump's sweeping tariffs, but that its vast network of third-party sellers may "pass that cost on" to consumers.

Jassy, who released his annual shareholder letter earlier in the morning, said the company has done some "strategic forward inventory buys" and looked to renegotiate terms on some purchase orders in an effort to keep prices low on its website.

On Wednesday, Trump temporarily paused his so-called reciprocal tariffs, which placed hefty levies between 11% and 50% on dozens of countries.

But Trump isn't backing down from his alarming trade war with China, where many Amazon products come from, and has raised his tariffs on Chinese imports to 125%.

Then, on Thursday, Beijing's retaliatory 84% tariffs on U.S. imports to China went into effect.

Reference Sources

1. quartz - Amazon already appears to be cutting back as tariffs kick in
2. cnbc - Amazon CEO Andy Jassy says he believes sellers will pass increased tariff costs on to consumers
3. dailymail - Amazon boss gives chilling warning to all Americans over Trump's tariffs
4. cnnen - Expect Amazon prices to rise because of tariffs, CEO says

Uniqlo founder Yanai says Trump tariff 'irrational' and 'won't last'

(Source: Reuters)

Uniqlo founder and CEO Tadashi Yanai has called the U.S. tariffs imposed by President Donald Trump "irrational" and said they "won't last" as the company revised its earnings outlook for the second half of the fiscal year due to possible impacts.

North America accounted for just over 10% of Uniqlo sales overseas in the fiscal year ended in August 2024 for parent company Fast Retailing.

However, Yanai dismissed the notion that garment manufacturing would return to the U.S., stating that his company could fairly easily shift its sourcing between garment-producing nations depending on the configuration of tariffs because the big outsourcers that make its clothes have globalized their factory footprints.

Reference Sources

1. nikkei - Uniqlo founder Yanai says Trump tariff 'irrational' and 'won't last'
2. ft - Tariffs will not halt supply chain shift to SE Asia, says Uniqlo founder
3. nikkei - Uniqlo owner revises up earnings amid Trump tariff concerns
4. cna - Uniqlo operator Fast Retailing's Q2 profit jumps 33%; raises forecast

China to 'moderately reduce' number of U.S. film imports: China Film Administration

(Source: Getty Images)

China's National Film Administration has announced that it will "moderately reduce" the number of U.S. films allowed to screen in the country in retaliation for President Donald Trump's escalation of U.S. tariffs on Chinese goods.

The move mirrors the potential countermeasure suggested by two influential Chinese bloggers earlier in the week, warning that China has plenty of tools for retaliation.

After three decades during which China annually imported 10 Hollywood movies, Trump's increase of tariffs on Chinese imports would further sour domestic demand for U.S. cinema in China after years of decline.

The effects of the trade war spread to China's huge and lucrative film market, the world's second-largest. The country has been a vital market for the U.S. film industry. A couple of prominent bloggers who are connected to the main party in China suggested that China might consider putting blocks on the Hollywood films that do get released in China.

The sources who first reported the potential ban are well-connected in China's media establishment.

It's not clear when or if these retaliatory measures would take effect.

Reference Sources

1. theguardian - China to restrict US film releases after Trumps tariff hike
2. bussinesstimes - Beijing bites back at US tariffs by curbing Hollywood imports - The Business Times
3. cna - Beijing bites back at US tariffs by curbing Hollywood imports
4. thestarmy - China to 'moderately reduce' number of US film imports: China Film Administration
5. cbs - China is a vital market for the U.S. film industry. Here's how the trade war could have major impacts.

The CommonWealth English daily news digest is a service curated by the CommonWealth English team with the help of AI tools.

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