San Francisco's Chinatown may receive a knockout blow from President Donald Trump's trade war with China.
Trump's high tariffs on Chinese products, which stand at 145%, are making it almost impossible for the traditional immigrant community that consists of predominantly some 1,000 small businesses. Some 90% of products being sold in Chinatown come from China, and the tariffs have driven some of the merchants to increase their costs by over 30%, President of the San Francisco Chinese Chamber of Commerce Donald Luu informed journalists on Tuesday. "This economic trade war is what we believe is going to be long-term and is going to affect the very existence of Chinatown," stated Luu, surrounded by local business officials, in a press conference in Chinatown. Lion Trading owner Magan Li added that eventually, the buyers will get to the point where they will not want to cover the costs and just stop shopping completely. "This is a huge blow to what is a very small business," she added. "We're in danger of losing those traditions which the town has fought so ...