Afternoon Coffee: Amazon Raises Storage and Transportation Fees for Suppliers, White House Orders $50 Billion Tariffs on China

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Amazon announced this week it is charging a slew of new fees to sellers and suppliers covering inventory storage and transportation, according to Supply Chain Dive. The e-commerce giant will begin charging a monthly inventory storage fee, long-term storage fee and a minimum long-term storage fee. In addition, it will raise transportation fees for certain items sold on its website, including beverages and diapers.

China Tariffs

President Trump announced Thursday his administration is preparing to impose at least $50 billion worth of tariffs on Chinese imports, NPR reports. The move is primarily motivated by a desire to protect the intellectual property of American corporations. Business leaders have long complained China unfairly requires U.S. companies to share their technology as a cost of doing business.

London Bets on AI 

London Mayor Sadiq Khan has set his sights on a lofty goal: turning Britain's capital into a “world-leading smart city.” As Quartz writes, Khan is formally trying to foster an AI industry in London. The city has hired a specialist AI research house to develop an AI action plan.     

Interest Rates 

The benchmark federal funds rate will rise by a quarter percentage point to a range between 1.5% and 1.75%, the Wall Street Journal reports. The Fed is trying to take a middle ground approach, Chairman Jerome Powell said in a news conference. It wants to raise rates slowly enough to encourage inflation without allowing the economy to overheat.

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