Starting April 20, U.S. Customs and Border Protection will begin the first phase of tariff refunds, returning $166 billion to importers. The U.S. Supreme Court ruled these tariffs illegal in February. However, a survey shows that about half of responding chief financial officers do not plan to apply for refunds, and no companies intend to pass the savings on to consumers.
News summary
The 139th Canton Fair opened with a 20% year-on-year increase in pre-registered overseas buyers.
The Ministry of Finance will issue 15.5 billion yuan in sovereign bonds in Hong Kong next week.
China and the U.S. are communicating about U.S. President Donald Trump’s visit to China.
The number of Chinese tourists visiting Japan in March plunged more than 50% year-on-year, according to the Japan National Tourism Organization.
Contact editor Lin Jinbing (jinbinglin@caixin.com)
