Chinese embassies hold National Day receptions

Chinese embassies across the world hosted receptions and other activities to celebrate the 75th anniversary of the founding of the People's Republic of China, which lands on Oct. 1, with attendees praising the country's developmental achievements.

On Thursday, the Chinese embassy in Pakistan held the National Day reception.

Pakistani President Asif Ali Zardari, Prime Minister Shehbaz Sharif, and people from all walks of life attended the reception and sent greetings to the Chinese people.

"In the past 75 years, China has emerged as a stabilizing force in the global affairs, evolving into a driver of global economic growth, while advancing the frontiers of science, innovation, and technology. I firmly believe that China in the coming decade will achieve new milestones, shaping global landscape of politics, economics, and culture in the positive ways,” said Zardari.

In Timor-Leste, the Chinese embassy held a reception on Friday. Participants praised China’s achievements in development and said they hoped the relationship between the two countries would reach a new level.

"The relationship of our two countries has been steadily growing in the last 23 years. My state visit and the signing of agreements and MOU will further bring our cooperation and friendship to a higher level," said Jose Ramos-Horta, president of Timor-Leste.

The Chinese Embassy in Ghana also held a reception on Friday, where guests spoke highly of the outcome of the 2024 Summit of the Forum on China-Africa Cooperation (FOCAC) held in Beijing in early September, saying that the cooperation between the two countries has broad prospects and great potential.

"The founding of the People's Republic of China is one of the major events of the 20th century, and we have very good relations with China. So I thought that it would be good to come here to celebrate this occasion. Apart from the conference, the FOCAC conference, I had the opportunity to have a good bilateral meeting with President Xi which went very well and we talked a lot about the future relations between China and Ghana," said President Nana Addo Dankwa Akufo-Addo of Ghana.

At the celebration held by the Chinese Embassy in Peru on Thursday, people from all walks of life enjoyed muscial performances and visited an exhibition on the achievements of China-Peru cooperation.

"There are many projects between Peru and China, some of which are already being implemented. During her visit to China, President Boluarte signed several documents with China, demonstrating the Chinese government's positive willingness to cooperate with Peru. I am very happy and honored to celebrate the 75th anniversary of the founding of the People's Republic of China as the foreign minister of Peru. The Chinese people are very wise, persevering, open-minded and cheerful. I thank you for everything you have done for Peru," said Elmer Schialer Salcedo, foreign minister of Peru.

Chinese embassies hold National Day receptions

The U.S. decision to impose a 15 percent global tariff has cast more confusion and uncertainty for businesses and consumers, according to financial analysts.

U.S. Supreme Court ruled Friday morning in a 6-3 vote that U.S. President Donald Trump's tariff policy under the International Emergency Economic Powers Act was illegal.

Infuriated by the ruling, Trump signed an order imposing a 10 percent tariff on imports from all countries hours later. Then on Saturday he said that he will raise the new global tariff to 15 percent.

The White House said the new levy is being imposed to address "fundamental international payment problems," adding that it will stay in effect for 150 days under a section of the Trade Act of 1974.

Certain products will be exempt from that levy - including some critical minerals, beef and tomatoes. The Trump administration also said it's considering other legal avenues to impose duties.

While the Supreme Court deemed many of Trump's tariffs illegal, it did not specify a means to pursue refunds, instead leaving that issue to lower courts. That could mean protracted legal wrangling for years for U.S. importers and uncertainty over if and how consumers will see any benefit.

"I would caution consumers, business owners, from assuming that this is going to have an immediate benefit, that this is going to cause immediate lower prices. That isn't likely. What this really does is, again, cause a lot more uncertainty，" said Stephen Kates, senior financial analyst with Bankrate, a consumer financial services company based in New York City.

Trump tariffs cast more uncertainty for businesses, consumers: analyst