Afternoon Coffee: Trump Threatens Tariffs on All China Imports, ERP Interoperability Preventing Growth of Electronic Payments

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President Trump said Friday he is “ready to go” with additional tariffs on $500 billion of Chinese imports, Bloomberg reports. That figure is more than the value of Chinese goods imported into the U.S. during 2017.

ERP Payments

Businesses have increasingly implemented or plan to implement electronic payables initiatives, but one technology system in particular is impeding full adoption: ERP. As Supply Chain Dive reports, more than half of respondents in a recent WEX study said interoperability with ERP systems was a top challenge. Just over 40% said they suffered a lack of IT resources, and 35% said suppliers were reluctant to fund virtual card payments.

Shedding Fur

Fur and leather are out in the world of luxury fashion, and supply chains are adjusting as a result. According to The Wall Street Journal, increasing consumer pressure to deliver ethically sourced goods is causing luxury brands to impose animal-welfare standards on their exotic-skin suppliers.

Jobless Claims 

And finally, an economic update: U.S. jobless claims fell to a more than 48-year low last week as job seekers scrambled to jump into a hot economy, Reuters reports. Manufacturing orders also surged in July, although rising trade tensions appear to be lowering producer sentiment for the upcoming quarter.

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