Hong Kong’s post office will stop shipping small parcels to the United States after Washington announced plans to charge tariffs on small-value parcels from the southern Chinese city

Hongkong Post will halt the acceptance of parcels for delivery to the US, the city has said ahead of the imposition of fresh tariffs by American president Donald Trump that will kick in next month. The government said in a statement on Wednesday that Hongkong Post would reject US-bound surface mail parcels with immediate effect,

Uncertainty over tariffs has placed a pall over financial markets and fueled concerns of inflation and a possible recession.

History shows that tariffs to revive U.S. manufacturing, reclaim jobs and counter allegedly unfair trade practices rarely succeed. In today's interconnected world, they're more likely to provoke painful retaliation.