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Message: <blockquote data-quote="Coralin96" data-source="post: 1887" data-attributes="member: 15">A little late to the party on September's update!Donald Trump is losing the trade war with ChinaThe StoryRather than this being a news story, this is more of a summary of an interesting article I read by Business Insider.The article says that "despite the imposition of tariffs and counter-tariffs in July, the US trade deficit increased to $50.1 billion, a 9.6% increase from the previous month". In addition "the goods trade deficit with both China and the EU hit record highs in the month of July".The US trade deficit is one the reasons Trump started imposing tariffs on countries around the world. It means that US imports are exceeding its exports, which Trump believes is causing harm to American companies.Impact on businesses and law firmsAs Trump's tariffs don't seem to be correcting the trade deficit, it could mean Trump will impose more trade measures on countries around the world.The health of the US economy compared to other countries has caused US imports to grow significantly this year.The question is whether Trump can ever "win" the trade war. In the meantime, businesses trying to undertake international trade will suffer.Amazon second company to pass the $2tn markThe StoryAmazon, one of the world's most feared companies, has now become the second company after Apple to have a market capitalisation of over $2tn.Unlike Apple, Amazon's growth over the last year has surged, with the big tech company doubling the value of its stock. The company has shown it can also turn a profit, bringing in a net income of over $2bn in July.Impact on business and law firmsAmazon has entered many markets over the past few years, from artificial intelligence to healthcare, as the company sought to invest in its future. It is the biggest provider of cloud computing to businesses and has billions of valuable customer data - which may lead it to compete with Google and Facebook in advertising.Many investors see Amazon changing the future, with Amazon devices being used to operate devices around the house and order groceries.Meanwhile, Apple has seen strong iPhone sales and is undertaking the largest share buyback in history. Microsoft is also growing revenues at its fastest rate in a decade and Google is speeding up its growth to invest in products outside search.However, regulators are starting to take a look at the big tech companies. The US justice department has recently said it will go after technology companies for free speech and competition issues. Under section 230 of the US Communications Decency Act, Facebook and Twitter are not liable for most user-generated content. But this has been tested recently, as the social media sites have come under fire fro Russian interference in elections and other privacy issues.</blockquote>

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