Good morning, here’s your Monday morning briefing to set you up for the day ahead. Look out for these three things happening around the world today.
Latest US-China trade tariffs take effect
The latest set of trade tariffs issued by the Trump administration on $200bn worth of Chinese goods take effect today.
The United States Customs and Border Protection will begin collecting a 10% tariff on products arriving in the US from China. This is set to rise to 25% from 1 January, 2019, if the two nations fail to agree new trade terms.
The reason for the tariffs is what President of the United States Donald Trump has described as “unfair policies” relating to US tech companies and their intellectual property.
Affected products include food items, such as meat and vegetables, household electronics, beauty products, clothing and more. View the full list here.
In response, China will raise tariffs on US products worth $60bn, which will also take effect today.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below formBy GlobalData
US labour board hears case against Tesla
Elon Musk’s troubles are set to continue this week as the National Labor Relations Board (NLRB) resumes its hearing into complaints about his electric vehicle manufacturing company Tesla.
Musk and his company are accused of violating the National Labor Relations Act (NLRA), following a claim that Tesla employees were blocked from unionising. One worker claimed that he was asked to leave a company factory for handing out pro-union flyers last year.
The trial has been ongoing since June, with Tesla accused of “coercion, surveillance, and unlawful termination” by the NLRB.
The NLRA, brought into law in 1935, guarantees all employees the right to unionise, campaign for fair wages, and take action against employers.
UN seeks support for Sustainable Development Goals
As the world’s leaders begin to arrive in New York for the annual United Nations General Assembly meeting, the UN will kick things off with a talk on its 2030 Agenda for Sustainable Development, looking specifically at how to secure financing to sustain progress towards achieving its goals.
The Sustainable Development Goals are a set of 17 goals aimed at ending the world’s biggest issues, such as global warming, poverty, gender inequality, and health-related issues.
The UN has been working towards achieving these goals since 2015. However, the organisation has said that “despite growing momentum for investments in sustainable development, the financing gap is significant”.
The high-level talk will focus on enabling environments for financing and investment, private sector investment, and developing new solutions to help towards meeting the Sustainable Development Goals.
The meeting will begin at 8pm London time at the UN Headquarters in New York.