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Message: <blockquote data-quote="Nicole" data-source="post: 2056" data-attributes="member: 16">I thought it might be a good idea to add Coralin's posts from her commercial awareness updates that were focused on tariffs (with her permission, thank you!). I think there may be more, so will add when I find them!The US-China trade war<ul> <li data-xf-list-type="ul">The Story: There’s never a dull day when it comes to Trump’s negotiations with China. His demands call for, among other things, China to reduce their tariffs, narrow their trade surplus with the US, remove their state subsidies for certain industries, and lift their restrictions on foreign companies doing business in China. The two countries are currently in trade talks after Trump lifted US sanctions on Chinese telecoms company ZTE, allowing it to resume operations (despite the company pleading guilty to illegally shipping US goods to Iran).</li> <li data-xf-list-type="ul">Impact on law firms and clients: If China concedes on these trade demands, it should be a good thing for foreign businesses and law firms. China has already announced it’ll open its market for financial services and the automobile sector, and there’s scope to allow foreign firms to do business in China without having to set up a joint venture with a Chinese partner. So far, these restrictions have limited a law firm’s ability to do business in the region so if they’re lifted, it opens up a variety of legal work both in and out of the country.</li> </ul>Trump's escalating trade war<ul> <li data-xf-list-type="ul">The Story - In response to alleged intellectual property theft, the US government has announced plans for a 25% tariff on 1,333 Chinese products. The products include robots, vaccines, electric cars and military weapons. It also features components that US companies may use. China responded quickly with a 25% tariff on 106 products. That includes cars, soybeans and some aeroplanes.</li> <li data-xf-list-type="ul">The impact on law firms - This is going to impact many US manufacturers and US-China trade relations. The growing trade war hurts companies looking to invest in the US and China or those who rely on international trade and there's a lot of uncertainty about what direction this will take. Law firms have already found it hard to operate in China and they may have to reconsider their expansion plans if this continues to escalate.</li> </ul>PSA to stay after BrexitTrump escalates trade war<ul> <li data-xf-list-type="ul">The Story: It didn't take long for Donald Trump to respond to the recent Chinese tariffs. He has called for tariffs on an additional $100bn of Chinese imports.</li> <li data-xf-list-type="ul">Impact on law firms: It's clear that Trump won't be the one backing down from this escalating trade war and this suggests it's going to be a long one. Law firms should help businesses to prepare sooner rather than later including those that have the potential to be hit. Some alternative suppliers could adjust their portfolio and use this opportunity to offer their goods locally. The US, EU and Japan also joined the US in a case against China's alleged intellectual property theft at the World Trade Organisation. This puts more importance on the WTO to be able to resolve the dispute or that will significantly affect the future of trade if there limited international enforcement. Financial institutions have had different responses. BNP Paribas noted that there are risks to the Chinese banking system and little to benefit from a trade war. Blackrock said it's an opportunity for negotiations with China. Whilst UBS warned clients about the risk to global growth.</li> </ul></blockquote>

Verification: Our company is called, "The Corporate ___ Academy". What is the missing word here?

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