China's Macao Special Administrative Region (SAR) has rolled out a series of measures to mitigate the potential impact on small and medium-sized enterprises (SMEs) brought by the U.S. abuse of tariffs, said the SAR's Chief Executive Sam Hou Fai on Sunday.
The measures include loan subsidies and tax breaks to bolster SMEs businesses amid global trade tensions.
"The U.S. abuse of tariffs undermines WTO rules, affecting global economies. As a tourist-reliant micro-economy, Macao's direct export impact is limited. However, indirect risks arise from potential declines in tourist spending and U.S. dollar-linked investments. Macao has introduced a four-percent loan interest subsidy to mitigate challenges for SMEs, capped at MOP 200,000 annually per business, and tax exemptions, with 90 percent of SMEs exempted from fees. Efforts to diversify include expanding Southeast Asian tourism markets and collaborating with Greater Bay Area industries. Government reserves remain stable through diversified investments and fixed deposits," the chief executive said.
Macao SAR rolls out measures to address US tariff impact on SMEs
Iranian Parliament Speaker Mohammad Baqer Qalibaf warned on Sunday that Tehran would view the United States and Israel's military bases and facilities in the Middle East as "legitimate targets" should Washington take military action against Iran.
At a parliamentary session convened to review an emergency proposal on assembly regulations, Qalibaf emphasized that, at this highly sensitive juncture, Iran must accurately and thoroughly identify the schemes of its adversaries.
Qalibaf said that Iran is currently confronting Israel and the United States simultaneously on four fronts: economic, cognitive, military, and counterterrorism. Of them, the economic warfare and the cognitive and psychological warfare began many years ago and have persisted to this day, growing increasingly complex and intense in recent years.
The remarks came as U.S. President Donald Trump is reportedly "seriously considering authorizing a strike" against Iran, taking advantage of its nationwide unrest.
Protests have erupted in several Iranian cities since late December over the sharp fall of the rial and long-standing economic hardship. Iranian authorities have acknowledged the demonstrations and voiced willingness to address economic grievances, while warning against violence and vandalism.
Amid the ongoing protests, deadly clashes have been reported lately between police and what the government described as "rioters." However, no official death toll has been released.
Also on Sunday, Iran's semi-official Tasnim news agency reported that Iranian President Masoud Pezeshkian will address the country's economic situation and political environment in a televised interview later that day.
Iran swears to counterattack if attacked
