How Asian companies are navigating the trade war
9/19/2018, 6:37:43 AMMore production shifts out of China as tariffs mount ✔ Moving production lines is difficult, but the trade war threat has been good for businesses that help companies set up their supply chains ✔ Kerry Logistics Network, a Hong Kong company with an Asia-wide network, is benefiting from the shift in production away from China ✔ Try 3 months for $9 Offer ends September 30th
US-China trade war: Asia's winners and losers
9/19/2018, 6:18:33 AMOur list of companies being affected -- for better or worse -- by rising tariffs ✔ TREND 3: A DIRECT HIT For some companies, the added cost of the tariffs is already -- or may soon be -- a headache ✔ Swire operates Coca-Cola bottling franchises in China, the U.S. and elsewhere, which could be hit by the U.S. tariff on aluminum imports ✔ Try 3 months for $9 Offer ends September 30th
Japanese firms shift production from China to avoid trade war
9/19/2018, 6:21:56 AMJapanese businesses are moving production from China to minimize the impact from the escalating trad ✔ Those U.S. tariffs were centered on high-tech products ✔ 17 announced it would slap a 10-percent tariff on about $200 billion of Chinese goods starting on Sept ✔ 24, including sundry products, clothing and furniture ✔ (This article was written by Shinji Hakotani, Dai Narusawa and Hisashi Naito.)
Australia's currency decline is collateral damage in Trump's trade war
9/19/2018, 6:41:42 AMThere was a contradiction when Australia's stock market was making new 10-year highs but the currency was posting significant lows. A big question has now been answered, Daryl Guppy writes. ✔ Well the answer is now in, and it's the Australian dollar ✔ It reached 12-month lows at $0.74 and rapidly reached two-year lows near $0.715 ✔ A fall below $0.74 has a downside target near $0.715 ✔ For more insight from CNBC contributors, follow @CNBCopinion on Twitter
Inside China’s strategy in the soybean trade war with U.S.
9/19/2018, 7:22:17 AMBEIJING/CHICAGO--The executive from one of China's biggest soybean crushers sat on a panel at a Kans ✔ USDA spokesman Tim Murtaugh downplayed the threat of China displacing U.S. soybean supplies ✔ The Trump administration, he said, is analyzing import demand and ultimately aims to win back access to the China market under better terms ✔ When you start becoming an unreliable supplier, people are going to start looking elsewhere
Trade war escalates as China announces tariffs on US imports
9/19/2018, 4:19:58 AMThe U.S.-China trade war escalated further Tuesday, with China announcing retaliatory tax increases on $60 billion worth of U.S. imports, including coffee, honey and industrial chemicals. The increases are in response to the U.S. announcing it will impose tariffs on $200 billion worth of Chinese-made goods starting next week. The… ✔ Trump has also complained about America's gaping trade deficit - $336 billion last year - with China, its biggest trading partner ✔ No one will emerge victorious from this counter-productive cycle ✔ This material may not be published, broadcast, rewritten or redistributed.
U.S.-China trade war could soon pose a serious economic threat
9/19/2018, 4:43:41 AMWASHINGTON--Seeking better-skilled workers, Cedar Electronics decided last year to return some of it ✔ Some multinational companies, for example, that might want to shift production from China to Mexico could delay that move until talks to rewrite the North American Free Trade Agreement conclude ✔ Global companies--the channel spreading the most advanced technological and organizational innovations through the global economy--are looking elsewhere for their long-term growth, Adams said
Donald Trump fires another volley in the US-China trade war
9/19/2018, 4:17:10 AMundefined ✔ But apart from some restrictions on inward Chinese investment into the US, Mr Trump is doing relatively little to tackle these problems directly ✔ But by doing so he will destroy value-creating international supply chains and weaken the US and the global economy
US-China trade war deepens as Beijing calls for global support
9/19/2018, 8:00:03 AMBUSINESS DAILY : The trade war between the United States and China has escalated, after Beijing slapped retaliatory tariffs on $60 billion of American imp... ✔ The trade war between the United States and China has escalated, after Beijing slapped retaliatory tariffs on $60 billion of American imports ✔ China's Premier Li, meanwhile, used a speech to a World Economic Forum event in Tianjin to call for global support for free trade ✔ Also today, why Facebook is facing a legal complaint over job advertisements in the United States
Japan's exports rise as U.S.-bound shipments grow amid trade war fears
9/19/2018, 4:07:05 AMJapan's export growth accelerated in August from the previous month as shipments to the United States grew as Tokyo looks to avert a trade war through talks with Washington expected later this month. Ministry of Finance data out on Wednesday showed exports rose 6.6 percent in August from a year… ✔ The data comes as the Bank of Japan debates at a policy review ending on Wednesday how trade frictions could undermine growth in the export-reliant economy, although there are no clear signs trade tensions with Washington have hit Japan's exports.Japan is hoping to avert steep tariffs on its car exports and fend off U.S. demands for a bilateral free trade agreement at a second round of trade talks with the United States, likely to take place later this month.Japan fears a bilateral deal could put it under pressure to open politically sensitive sectors such as agriculture
The US-China trade war is unlikely to be settled soon | Nils Pratley
9/19/2018, 5:42:49 AMTrump needs a quick result but is unlikely to get one without drawing in other nations ✔ Financial markets haven’t been panicked so far, either because the short-term damage to global trade looks modest, or because it is still possible to cling to the idea that Trump won’t follow through on his threat to raise tariffs to 25% in the new year
China hits back with £45bn of new US tariffs after Trump escalates trade war
9/19/2018, 6:05:09 AMCHINA has hit back with tariffs on £45 billion worth of US goods after Donald Trump escalated the trade war between the two countries. The US president imposed tariffs of £152bn on goods arriving f… ✔ EPA 4 China's President Xi Jingping: China has warned it will retaliate against Trump's decision AFP or licensors 4 The US President has announced plans to put in place tariffs on nearly all imports from China That would raise the total affected by US penalties to $517 billion (£390billion) - covering nearly all goods China sells the United States
China says it will never use its currency as a weapon in the trade war
9/19/2018, 7:45:24 AMPremier Li Keqiang said China "will never go down the path of stimulating exports by devaluing its currency." ✔ Trump claimed in July that China was manipulating its currency lower ✔ Manipulation has occurred and is occurring, and I hope that action is taken, Todd Rokita, a Trump-supporting congressman from Indiana, told CNN at the Tianjin conference just minutes after Li's speech
Stock futures point higher as tariffs seen less damaging
9/19/2018, 7:46:35 AMInvestors have largely ignored the latest round in the trade war. ✔ China’s Shanghai Composite rose more than 1 percent ✔ General Mills topped analysts’ expectations in terms of earnings, but revenue was a miss ✔ On today’s economic calendar, traders will get to examine data on housing starts and building permits ✔ FOX Business’ Leia Klingel contributed to this article
China won't act to devalue yuan, says Li
9/19/2018, 7:13:30 AMChina's Premier Li Keqiang says it is essential to uphold principles of free trade and multilateralism. ✔ His accusation that China has manipulated the yuan raised concerns that the currency market could become the next front in the economic battle between the two countries ✔ During his campaign for president, Mr Trump also called China a currency manipulator but early last year
China won't weaken currency to boost exports, premier says
9/19/2018, 6:32:30 AMChina will not engage in competitive currency devaluations, Premier Li Keqiang s... ✔ The United States has so far imposed tariffs on $50 billion of Chinese products to pressure China to make sweeping changes to its trade, technology transfer and high-tech industrial subsidy policies, with China responding with similar scale tariffs ✔ Our Standards:The Thomson Reuters Trust Principles
BOJ sanguine about economic outlook as exports firm, but trade...
9/19/2018, 4:56:05 AMJapan's exports rose in August and its central bank kept its view the econo... ✔ Overall, the U.S.-China trade war would have a negative impact on Japan’s exports and the economy, said Koya Miyamae, an economist at SMBC Nikko Securities ✔ But the impact isn’t apparent in the August trade data.. ✔ Our Standards:The Thomson Reuters Trust Principles
Japan-U.S. trade talks to be delayed after new U.S. tariffs on China
9/19/2018, 7:09:58 AMThe start of a second round of trade talks between Japan and the United States will be delayed until after fresh tariffs imposed on China by the United States come into force on Sept 24, a Japanese government source told Reuters. The talks between Japanese Economy Minister Toshimitsu Motegi and… ✔ 21, but now will be delayed by three or four days, said the source with direct knowledge of the schedule ✔ He asked not to be identified because he is not authorized to talk to the media ✔ Japan instead want to persuade the U.S. to rejoin the multilateral Trans-Pacific Partnership
Fast Europe Open: UK inflation, eurozone current account
9/19/2018, 5:54:18 AMundefined ✔ Foreign exchange markets were largely calm and US government bonds steadied after selling off overnight, but investors remained cautious about emerging market currencies ✔ 09.00: eurozone current account balance 09.30: UK consumer price index 09.30: UK house prices
Performance rebound teases macro hedge fund investors
9/19/2018, 4:34:49 AMundefined ✔ That compares to the index of equity funds, which is up 2.6 per cent; the event-driven funds index, also up 2.6 per cent; and the relative value index, which is up 2.7 per cent ✔ If a trade war escalates and emerging markets continue to deteriorate, that could create opportunities for them
China appeals for free trade amid tariff battle with Trump – business live
9/19/2018, 7:27:08 AMRolling coverage of the latest economic and financial news, as markets digest the ongoing US-China trade row ✔ Holger Zschaepitz (@Schuldensuehner) Asia stocks extending low quality rally ✔ The agenda 9am BST: Bank of England Andy Haldane: Lecture at the Bank of Estonia 100th Anniversary conference, Estonia 9.30am BST: UK inflation for August 9.30am BST: UK house price data for July 3pm BST: ECB president Mario Draghi speech on Making Europe’s Economic Union work, in Berlin Updatedat 3.14am EDT
Li Keqiang pledges pro-business measures in response to tariffs
9/19/2018, 7:35:08 AMundefined ✔ Private companies have been squeezed by the diversion of bank credit to the public sector, with many forced to close or sell out to state companies ✔ If China comes to the table [its offer] should be free and fair for all sides ✔ Additional reporting by Tom Mitchell in Beijing
BOJ Governor Kuroda's comments at news conference
9/19/2018, 7:07:07 AMJapan's exports rose in August and its central bank kept its view the econo... ✔ Japanese banks have sufficient buffers to endure a shock of the scale of the Lehman crisis ✔ Japan’s financial system is maintaining stability as a whole ✔ On the other hand, it’s true prolonged monetary easing is weighing on banks’ profits ✔ Our Standards:The Thomson Reuters Trust Principles
Asia rises as stimulus hopes lift Chinese stocks amid trade row
9/19/2018, 5:54:27 AMAsian stocks rose across the board on Wednesday as expectations that Beijing wou... ✔ The trade war will only escalate, said Yoshimasa Maruyama, chief market economist at SMBC Nikko Securities in Tokyo ✔ It remains to be seen if China holds back its anger and still holds negotiations with the United States ✔ Our Standards:The Thomson Reuters Trust Principles
Former US trade official: Deadlock with China will continue 'for some time'
9/19/2018, 5:36:34 AMThe issues at stake are so complex so "we can expect that there's going to be a deadlock for some time," said Timothy Stratford, a former assistant U.S. trade representative for China affairs. ✔ As the issues at stake are so complex, we can expect that there's going to be a deadlock for some time, he told CNBC at the World Economic Forum in Tianjin on Wednesday ✔ Both Chinese President Xi Jinping and President Donald Trump have made clear that they are not afraid of a trade war that many fear could derail the global economy ✔ As a result, neither side may be ready to reach a compromise anytime soon, he warned
US business groups criticise latest Trump tariffs
9/19/2018, 4:35:00 AMundefined ✔ Donald Trump’s newest round of tariffs on Chinese imports put off the worst of the impact until after US retailers’ critical Christmas season and spared a few businesses, including smartwatches and high chairs, but corporate America still decried the move as a costly and counterproductive answer to its concerns about China ✔ Before announcing the latest measures, Mr Trump played down the extent to which tariffs were increasing prices, tweeting that cost increases have thus far been almost unnoticeable
China denies currency devaluation in response to U.S. tariffs
9/19/2018, 7:39:04 AMPremier Li Keqiang presses free trade agenda at 'Summer Davos' ✔ The devaluation of a currency does more harm than good, he added, in an apparent response to accusations from U.S. President Donald Trump of manipulating of the yuan to ease the impact of additional tariffs ✔ Even if problems occur, we must solve them through cooperation ✔ The new levies of 10% will be imposed on $200 billion worth from Sept ✔ The yuan gained against the dollar in Shanghai on Wednesday ✔ Try 3 months for $9 Offer ends September 30th
JP Morgan Chase: Emerging markets selloff is overdone, and investors should consider China
9/19/2018, 4:28:05 AMIn the past few weeks, economic troubles have hit Turkey and Argentina, leading to a selloff in emerging currencies, including in Asia. ✔ Leung said that in the first half of this year, China has seen $43 billion of inflows from foreign investors, thanks partly to the inclusion of China A shares stocks of mainland companies that trade on the Shanghai and Shenzhen exchanges in global and regional indexes by index giant MSCI
Hong Kong stocks extend gains amid lure of cheap valuations
9/19/2018, 5:20:00 AMShenhua up after August sales, while CK Asset climbs after Li Ka-shing raises stake ✔ People are just waiting for a positive catalyst to enter ✔ Leung said speculation over support from state-linked funds in the A-share market could help shares of state-owned enterprises to outperform in the short term ✔ Try 3 months for $9 Offer ends September 30th
China turns on the charm as US tensions grow
9/19/2018, 6:37:45 AMBeijing seeks more trade with Southeast Asia, Japan and Russia ✔ We have a common understanding to always develop Sino-Japanese relationship, Xi said, wearing a rare smile ✔ Just a week before the Russia meeting, Xi invited African leaders from 53 countries to Beijing and pledged $60 billion of fresh financial aid ✔ Get unique insights on Asia, the most dynamic market in the world ✔ Try 3 months for $9 Offer ends September 30th
Indian business lobbies government over tariff fears
9/19/2018, 4:34:47 AMundefined ✔ Recommended India’s equity market exploits plunging rupee Rajan Mathews, director-general of the Cellular Operators Association of India, said: Mobile operators cannot immediately substitute their imports for domestically made goods ✔ We still have enough foreign currency to cover eight months’ worth of imports, he said
Yen at two-month low even as trade tensions escalate, pound firm...
9/19/2018, 4:08:31 AMThe Japanese yen stood near-two-month lows as financial markets took fresh U.S. ... ✔ The Federal Reserve is widely expected to raise interest rates twice more before the end of year, and Fed funds futures are pricing in a further two more hikes next year, instead of just the one priced in at the start of this month ✔ Our Standards:The Thomson Reuters Trust Principles
Wednesday briefing: Korean leaders get peace talks back on rails
9/19/2018, 6:04:33 AMKim Jong-un offers further dismantling of weapons sites … Denis Norden, ITV star, dies aged 96 … and Labour wrestles with its divided Brexit conscience ✔ The leaders also agreed to connect two rail lines, on the east and west side of the peninsula, across one of the most militarised borders in the world ✔ It is unclear how the authorities in Uganda will react as they probably did not expect him to return when they let him fly to the US ✔ If you are not already receiving it by email, make sure to subscribe
China's Premier hits back at Trump's attacks on currency manipulation, vowing to keep the yuan 'basically stable'
9/19/2018, 7:24:41 AMLi Keqiang – China’s second most powerful official – used a keynote speech at a World Economic Forum event in the industrial city of Tianjin to vow not to pursue a policy of currency devaluation to counteract tariff measures imposed by the Trump administration. ✔ China would stick to market-oriented foreign exchange reform, Le said, adding that the currency would be kept basically stable at an adaptive level ✔ Like those of most emerging market nations, China's currency has been weakening this year as the US dollar has steadily strengthened - largely due to the Federal Reserve steadily lifting its official interest rate but also partly because of some of the Trump administration's policies, including its corporate tax cuts which has encouraged repatriation of capital held abroad by US-based multinationals ✔ This is not empty talk…[the government] will make sure these are materialized with concrete actions
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