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The Ford Focus is dead in the US because of Trump’s trade war
8/31/2018, 4:32:13 PMThe Mustang will now be the only non-SUV or truck Ford sells in its home country. ✔ But instead of acquiescing to pressure from the president-elect and keeping production in the US, Ford decided to build the Focus in China a decision that reportedly saved the company around $1 billion ✔ Trump’s ongoing attempt to renegotiate the North American Free Trade Agreement has also thrown a heavy amount of uncertainty into the mix
‘GLOBAL ECONOMIC CRISIS’ warning as expert says US trade war could spark CATASTROPHE
8/31/2018, 4:08:27 PMTHE ONGOING trade war between the US and China could spiral out of control into a “global economic crisis”, an economic expert has warned. ✔ Therefore, China has got to deal with him, in the end, directly ✔ It comes at a time when economies across the globe are experiencing volatility and plunging economies ✔ Also in Asia was the Indonesian rupiah which hit a three-year low after a series of terrifying earthquakes throughout the whole of August that destroyed Lombok and neighbouring Bali
Ford scraps plan to sell Chinese-made Focus in US amid trade war
8/31/2018, 4:40:35 PMThe company cited an expected hit from tariffs on China as a primary factor behind the decision. ✔ Tesla treated better by Wall Street than GM, Ford ✔ The automaker announced the decision on Friday, saying that the previously imposed tariffs on Chinese products – and the prospect of more in the future – are likely to hit the company’s bottom line ✔ A 25 percent levy on auto imports went into effect in July ✔ The car was expected to be available in the U.S. in the second half of next year
Tariffs stirring fear at many US points of entry for imports
8/31/2018, 4:18:52 PMTo understand why the impact of President Donald Trump's tariffs could be felt throughout the United States, consider this: From the West Coast to the Great Lakes and the Gulf of Mexico ✔ To understand why the impact of President Donald Trump's tariffs could be felt throughout the United States, consider this: From the West Coast to the Great Lakes and the Gulf of Mexico, at least 10 percent of imports at many ports could be hit by new tariffs if Trump's proposals take full effect, according to an exclusive analysis of government data by The Associated Press ✔ At 18 of 43 customs districts including those representing ports around Los Angeles, San Francisco, New Orleans and Houston at least 10 percent of their total import value could be covered by new tariffs if all Trump's proposals take effect
Ford cancels SUV that it planned to import from China
8/31/2018, 6:11:14 PMFord had planned to build the new Focus Active SUV in China to ship back to US market. Tariffs killed that plan. ✔ Any program that we're working on requires resources engineering resources, capital resources ✔ American car buyers' growing preference for SUVs and pickups have flustered automakers ✔ But it has announced a series of tariffs on Chinese exports that would increase their cost by 25%
EU ends trade controls on Chinese solar panels
8/31/2018, 7:36:46 PMAnti-dumping and anti-subsidy measures first imposed in 2013 ✔ SolarPower Europe, which represents importers and installers, described the move as a watershed moment for Europe's solar industry and that it removes the biggest barrier to growth of the sector ✔ EU ProSun said, adding that years of falling prices had not resulted in growth of the European market
Take five: World markets themes for the week ahead
8/31/2018, 5:32:20 PMFollowing are five big themes likely to dominate thinking of investors and traders in the coming week and the Reuters stories related to them. ✔ Those tensions looked to be abating this week after the Chinese central bank propped up the yuan against the dollar, and the United States and Canada remain locked into discussions to hammer out a trade deal ✔ *Italy economy minister tells party leaders to cool it - paper GRAPHIC: Italy GDP - reut.rs/2N1O9SN Our Standards:The Thomson Reuters Trust Principles
Japan and China iron out currency swap revival ahead of summit
8/31/2018, 6:00:50 PMFinance chiefs decry protectionism but gap emerges on how to deal with US ✔ Chinese Deputy Prime Minister Liu He greeted Aso in Japanese on Thursday when the two met ahead of the dialogue, surprising those present ✔ If it gets too close to Beijing, it risks angering Washington ✔ Even the word protectionism means different things to each side, he told reporters
US stocks slide again as investors wait for trade news
8/31/2018, 6:41:08 PMNEW YORK (AP) — Stocks are lower in afternoon trading on Wall Street Friday following a late loss the day before. Traders are keeping their eye on trade talks between the U.S. and ✔ NEW YORK (AP) Stocks are lower in afternoon trading on Wall Street Friday following a late loss the day before ✔ There are hopes that the two sides will reach a preliminary trade deal later in the day, but there were few signs of progress ✔ The Merval index has climbed over the last two days after the government asked for the early release of $50 billion in rescue funds
NAFTA talks appear to sour after report that Trump disparaged Canada
8/31/2018, 4:33:01 PMCanada’s foreign minister took a subdued tone Friday in discussing the negotiations. ✔ By Damian Paletta and Jeff Stein August 31 at 12:00 PM High-stakes trade negotiations between the White House and Canadian leaders showed signs of faltering on Friday, as Canadian officials expressed frustration with U.S. demands and a report surfaced that President Trump had privately disparaged Canada and upset the already delicate talks ✔ Trump has badmouthed and even mocked Trudeau in public and private a number of times this year
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