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A trade storm broke out between China and the United States in 2018. The United States proposed to impose tariffs on Chinese goods, with a total value of US$ 200 billion. China opposed the US approach and filed a lawsuit with the World Trade Organization in the same year.

The World Trade Organization (WTO) ruled earlier that the US government's tariff increase on China violated international trade regulations, requiring that the US trade policy must comply with WTO member regulations and fulfill the obligations required by the WTO.

The Chinese side welcomed the ruling and said it was fair and just, while US President Trump has repeatedly criticized the World Trade Organization for favoring China.

In July this year, due to the "National Security Law of the Port Area", the United States promulgated the abolition of Hong Kong's status as a special tax zone, and required that Hong Kong's exports to the United States should not be labeled as "Made in Hong Kong" but replaced by "Made in China";

Perhaps inspired by the above ruling, Secretary for Commerce and Economic Development Qiu Tenghua held a press conference yesterday, saying that he had written to the US Trade Representative in order to fight for Hong Kong's due rights and interests, demanding that the label of "Made in Hong Kong" be re-issued.

He also reiterated that if the problem could not be solved through bilateral talks, he would consider settling the dispute through the World Trade Organization. But send a message to Secretary Qiu, don't be too optimistic. Even if the WTO decides that Hong Kong is straight, the WTO still has an appeal mechanism.

It is impossible for the United States to directly follow the WTO ruling. Besides, if you are too attached to the "Made in Hong Kong" brand, others will misunderstand that you look down on China or say that you are politically incorrect.

The U.S. Federal Reserve held a policy meeting for two days in a row, and published the results of interest rate decision this morning. It was approved by a large majority to maintain the federal funds rate between 0 and 0.25% until 2023, which met market expectations.

When analyzing the US economy, the chairman of the Federal Reserve Board said that he is learning to make the economy more normal in COVID-19. He has seen that the US economy has improved, but it has stagnated slightly, paying special attention to the job market and inflation rate.

The Federal Reserve Board will closely monitor market changes, so as to ensure that monetary policy is effective, timely and appropriately introduced. The data is mixed. The core retail sales in the United States increased by 0.7% last month; The 0.6% increase in retail sales in the United States last month was lower than market expectations.

However, the US crude oil inventories fell by 4.39 million barrels last week, which was better than expected. The gold price fluctuated at a high level yesterday, and the US dollar weakened in the early period. The highest price of gold was 1974 US dollars per ounce, but the US stock market once again shattered the gold price.

The lowest price was $1,950 per ounce, and it closed at $1,959 per ounce, up by $5.

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