The latest round of “reciprocal” tariffs imposed by the United States has taken a toll on American importer confidence, prompting Hong Kong exporters to warn of weak sales and price inflation in two of the country’s most important spending seasons, Thanksgiving and Christmas. Tariffs ranging from 10 to 41 per cent took effect on August 1 in 70 jurisdictions, including many in Southeast Asia where Hong Kong exporters produce goods for the US. Washington had a deal to extend the tariff truce with...