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Trade War - SERIES 106 {13 articles}

Dozens of manufacturing companies testified about how Trump's trade war with China could affect them - here's what they said | Markets Insider

9/9/2018, 12:51:08 AM
undefined ✔ AP Photo/Evan Vucci The Trump administration has prepared to place import tariffs on all Chinese products entering the country ✔ Today though, I am here, and I feel that I'm not testifying just for Royce but more on behalf of the thousands of US textile workers, the US military, and the blue collar professionals who the administration has pledged support for


China's trade surplus with U.S. hits new record in August

9/9/2018, 7:12:01 AM
China's trade surplus with the United States ballooned to a new record $31 billion in August despite a raft of U.S. tariffs, official data showed Saturday, adding fuel to the flames of a searing trade war. The figures were released hours after President Donald Trump threatened to slap tariffs on… ✔ The figures were well below July's performance, when exports had jumped 12.2 percent and imports grew 27 percent ✔ If the U.S. dogmatically implements any new tariff measures against China, China will have to take the necessary countermeasures, commerce spokesman Gao Feng told reporters


Beijing hopes Wall Street bankers can break Trump trade impasse

9/9/2018, 10:40:24 AM
undefined ✔ Blackstone will be represented by Jon Gray, its president, and Goldman Sachs by John Waldron, the group’s investment banking co-head ✔ It was short notice and we are trying to get someone there, added another person whose chief executive will not be able to attend ✔ They can’t get a trade deal or even a framework for a deal


Donald Trump cheers nixed Ford-China deal, says tariffs working

9/9/2018, 2:35:45 PM
President Trump on Sunday heralded a CNBC report about Ford Motor Company abruptly killing a plan to sell a Chinese-made small vehicle in the U.S. as evidence his tariff war was working. ✔ The two countries have already engaged in a tit-for-tat tariff feud on about $50 billion of each countries’ exports ✔ The escalating trade war between the world’s two largest economies rattled investors and business leaders ✔ Ford executives said killing plans to sell the Chinese-made Focus Active will cost jobs and hurt the company’s sales


Trump ready to launch new round of China tariffs

9/9/2018, 4:17:27 PM
undefined ✔ Donald Trump’s White House is finalising plans to impose tariffs of up to 25 per cent on $200bn of Chinese imports, a decision that could sharply escalate the trade war with Beijing ✔ Chinese officials would understand that it’s not as bad as it could be, but it would still be viewed negatively by public opinion, and Xi Jinping cares a lot about the public reaction, said one senior US business lobbyist


Donald Trump: Apple should make products in the US to avoid tariffs

9/9/2018, 12:18:25 AM
President fires back at company after it said its watch and headphones would cost more if China tariffs go ahead ✔ Apple’s AirPods headphones, some of its Beats headphones and its new HomePod smart speaker would also face levies if the current package of $200bn in tariffs goes ahead as expected in the coming days ✔ Apple is highly exposed to a trade war between the US and China ✔ Apple said it was difficult to see how tariffs would advance the government’s goal


France defends European tech giant tax, says its not an attack on US but hits Trump on tariffs

9/8/2018, 7:10:33 PM
The French minister suggested that it was in fact America that had launched an attack on Europe by adopting a more aggressive trade policy targeting European imports with tariffs. ✔ Eric Peirmont | AFP | Getty Images French Economy Minister Bruno Le Maire ✔ Le Maire, alongside German Finance Minister Olaf Scholz, said in a statement on Saturday that he would propose a sunset clause to the planned EU tax on the digital turnover of big companies, in a bid to reach compromise with other European countries


Trump: Apple can avoid tariffs by shifting production to US

9/8/2018, 7:50:39 PM
President Donald Trump concedes that some Apple Inc. products may become more expensive if his administration imposes “massive” additional tariffs on Chinese-made goods, but he says the tech company can fix the problem by moving production to the U.S. ✔ The company said tariffs would hit a wide range of Apple products, including computers, watches, adapters, chargers and tools used in its U.S. manufacturing, repair and data centers ✔ The company is concerned, however, about the Trump administration’s proposal to add 25 percent duties on another $200 billion in Chinese goods, including a wider assortment of consumer-related items


‘Who started it? America!’ Duterte blames Philippine inflation on ‘friend Trump’ & his trade wars

9/9/2018, 1:16:23 AM
The spillover effect of the US trade conflicts with China and the rest of the world has impacted the price of goods in the Philippines, Rodrigo Duterte said, vowing to talk to his “friend Trump” and take inflation under control. ✔ The Philippines’ finance chief previously noted that his country is sort of insulated from risks of Sino-American trade conflict, partly due to the fact that the country has a largely a domestically driven economy, with exports accounting for only 18.8 percent of GDP


Trump tells Apple to build in US to avoid Chinese tariffs

9/8/2018, 7:21:54 PM
undefined ✔ Make your products in the United States instead of China ✔ Late on Friday, Apple threw Infowars, the media outlet run by rightwing conspiracy theorist Alex Jones, off its App Store, after banning its podcast from iTunes in August ✔ Apple’s move on Friday followed similar steps against Infowars and Mr Jones from YouTube, Facebook and, on Thursday, Twitter


Under Trump, the jobs boom has finally reached blue-collar workers. Will it last?

9/9/2018, 7:08:57 PM
Blue-collar job growth is occurring at the fastest rate since 1984, helping fuel a hiring boom in many small towns and rural counties that heavily support President Trump. ✔ A worker packages a safe at the Liberty Safe & Security Products Inc ✔ For Michael Tackett, who has lived in eastern Kentucky all his life, the factory offers an unexpected second chance ✔ We’ve been in an economic downturn for years, actually decades, but this could bring an economic boom to the area, said Tackett, who is program coordinator of the Advanced Integrated Technology program at Ashland Community and Technical College


Emerging market value and ECB meeting dominate trading week

9/9/2018, 1:50:57 PM
undefined ✔ That issue, along with trade tensions, have the market’s attention, somewhat obscuring the solid data emerging from the eurozone since the last ECB meeting at the end of July ✔ Also the picture gets less rosy next year when earnings comparisons become less flattering and the bulk of US tax cuts start to ebb


Argentina, Turkey, Mexico ... fear of contagion haunts emerging markets

9/8/2018, 11:35:26 PM
As America’s economy booms, investors are lured back to the US – and away from the countries that were relying on them ✔ In the past six months, some of the world’s fastest-growing economies have found themselves flat on the floor, gasping for breath and, in one case, seeking help from the global financial rescue centre otherwise known as the International Monetary Fund ✔ The worrying picture is completed by rising oil prices and geopolitical risks from trade tensions as Donald Trump imposes import tariffs


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