You sell designer handbags in the United States. These bags are made in China and moved to the US market by cargo ship. For each of the following events, tell whether it will probably help or hurt your business, and explain why. NOTE that you may have to do some additional research online to help you answer these.

The US dollar rises in value against the Chinese RMB.

The US imposes import duties of 30% on all products coming from China.

Dock workers on the US West Coast go on strike, and cargo ships are unable to unload their goods.

China loses its Most Favored Nation trade status. Explain what this means and how it might impact your business.