Hong Kong tycoon Victor Fung Kwok-king former chairman of supply chain management conglomerate Fung Group, warned on Tuesday that consumers around the world will ultimately bear the cost of a de facto 20 per cent tariff in global trade.
Speaking at the Global Supply Chain Business Summit 2025 held by the Hong Kong University of Science and Technology’s Li & Fung Supply Chain Institute, the 80-year-old said the global trading environment was converging towards an average tariff rate of about 20…
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