Foreign producers reduced their prices by 5.2 percent relative to the control group following the 25 percent tariff, absorbing about 20 percent of the tariff rate. The remaining 80 percent was passed forward as higher costs to US importers. On a bottle of wine for which the producer charged $5 before the tariff was imposed and $4.74 after, the tariff payment would have been $1.19. Importers, who the researchers estimate apply an 80 percent markup to the price they pay to producers, would have charged $9 to distributors before the tariff was imposed. The researchers estimate that they raised their prices to distributors by 5.4 percent, but on a base of $9 (= 1.8 x $5). This increase would be $0.49, so importers would be absorbing additional costs since they would pay $5.93 (= 1.25 x $4.74) to the producer and in tariffs. All told, the importer’s dollar margins per bottle declined by $0.44.
同时，公司宣布任命吴亦泓女士及萧杨女士为新任独立董事。此项任命旨在保持董事会多元化的专业知识与创新视角。吴亦泓现任MakeMyTrip、阿里巴巴健康、太古地产及诺亚控股等多家上市公司独立董事，曾任如家酒店集团首席战略官及首席财务官。萧杨曾任职于Capital International Investors、Principal Global Investors及平安资产管理有限公司，担任投资分析师及投资组合经理等职。
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