Trump's trade war is a growing global risk
9/19/2018, 11:11:43 PMSurely it is in our best interests to pursue a more clearly outlined, multilateral vision of the future of trade. ✔ As Australia knows, untangling Chinese political and business power and the Chinese quest for intellectual property are in urgent need of attention.– The question remains whether this confrontational and disruptive approach is likely to improve matters
America and China are in a proper trade war
9/19/2018, 8:13:56 PMDonald Trump announces another wave of tariffs. China retaliates ✔ Mr Trump’s announcement triggered complaints from industry representatives including the US Chamber of Commerce, the American Chemistry Council and the American Apparel and Footwear Association, all of which warned that Americans would end up footing the tariff bill, and pleaded for a different approach
Stocks Rise as Fears of a Trade War Recede
9/19/2018, 9:10:54 PMBoth the Dow and S&P pushed ahead, helped by hope for a resolution on trade as the U.S. economy continues to show strength. ✔ Projected earnings growth for the Russell 1000 Index, at 9%, is down quite a bit from 2018’s 20.1% expected tally but still ahead of the 8.3% the rest of the world is forecast to chalk up ✔ The bottom five stocks in the S&P 500 Copart (CPRT): -13.4% HollyFrontier Corp.(HFC): -5.8% Valero Energy(VLO): -4.9% Marathon Petroleum(MPC): -4.1%
What Donald Trump's trade war with China means for you
9/19/2018, 10:04:00 PMFor Australia, the main immediate risk is reduced foreign demand for our exports. ✔ If China and the US impose higher tariffs of 25 per cent, this rises to 0.5 per cent ✔ So far, financial markets remain sanguine about such prospects ✔ Any significant global turbulence would mean Australian interest rates stayed lower for longer and the federal budget's return to surplus would be in jeopardy, again
US-China trade war escalated with newly imposed $200 billion tariff
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Alibaba Founder Jack Ma Just Backed Down From His Promise of 1 Million New U.S. Jobs. Here’s Why
9/19/2018, 11:22:16 PMTwo words: Trade war ✔ Nonetheless, Ma’s statement underlines Chinese bearishness in the wake of tariffs on $200 billion of Chinese goods imported to the U.S. on top of $50 billion covered by an earlier round ✔ Ma plans to step down in a year as the company’s chairman, and remain on the board through 2020
The Australian dollar could surge in all-out trade war, RBA study finds
9/19/2018, 8:29:53 PMStudy finds that if a global trade war broke out, the Australian dollar could jump - flying in the face of its historic response to global upheaval. ✔ Photo: AP The study, released Wednesday in response to a Bloomberg Freedom of Information Act request, ran three key scenarios ✔ A lower cash rate could largely offset these effects in the long run ✔ Traders see little prospect of the RBA moving interest rates - which have stood at a record-low 1.5 per cent since August 2016 - in the next year
US-China trade war could escalate ‘into REAL WAR’ warns expert – trade relations EXPLAINED
9/19/2018, 10:38:34 PMEXCLUSIVE: The US-China trade war has rapidly intensified after the two economic superpowers recently imposed tariffs on more than $360billion of goods. ✔ According to the professor, the victims of the ‘trade war’ will be consumers, who will end up paying a higher price for all the products coming from abroad ✔ But as Mr Moscone said, history has shown a financial battle between the world's two biggest economies doesn't look good for anyone
Alibaba’s Ma says Trump’s trade war ‘destroyed’ his promise to create jobs for 1mn Americans
9/19/2018, 11:23:41 PMAlibaba’s executive chairman Jack Ma has said that his promise to Donald Trump to create one million jobs in the US is no longer valid and viable after Washington slapped Beijing with new round of tariffs on $200bn worth of goods. ✔ When Jack Ma met president Trump in January 2017, he laid out a five-year vision which would create one million jobs in the United States ✔ The current situation has already destroyed the original premise ✔ Trade is not a weapon and cannot be used for wars, he added, in an exclusive interview with Xinhua news agency ✔ Beijing hit back on Tuesday with levies on $60 billion of US products
Mohamed El-Erian isn't concerned about a global trade war but sees another major risk for the market
9/19/2018, 9:52:33 PMAll the trade rhetoric from the U.S. and China is about the journey, not the destination, and the destination will not be global trade war, says Allianz's Mohamed El-Erian. ✔ All this rhetoric you hear from both sides … it's about the journey, not destination ✔ In turn, Beijing slapped levies of between 5 percent and 10 percent on $60 billion worth of U.S. goods ✔ The steps taken on the tax cuts and on deregulation are going to promote economic growth for at least two to three years, he said ✔ So the U.S. has a … policy-driven tailwind of growth
Alibaba’s Jack Ma walks back promise to create 1 million jobs in U.S.
9/19/2018, 11:48:07 PMThe 1 million American jobs that Chinese billionaire Jack Ma promised he’d create following a 2017 meeting with then-President-elect Donald Trump are not coming, thanks to the trade war between the U.S. and China. ✔ It cannot be used for war, it should be a propeller for peace ✔ ‘It’s going to last long, [and] it’s going to be a mess, he said ✔ Alibaba’s shares rose slightly Wednesday, but are down almost 6% this year, compared to the S&P 500’s SPX, +0.13% 9% gain ✔ Subscribe to MarketWatch's free Asia Daily newsletter ✔ We Want to Hear from You Join the conversation Comment
Trump's latest tariffs are about to hit you where it really hurts
9/19/2018, 8:36:01 PMPresident Donald Trump's newest round of tariffs on $200 billion worth of Chinese goods is the first time during the US-China trade war that consumer goods will get hit with duties. This could lead to a price increase for the average American shopper. ✔ The sellers could choose to eat those new duties and see their margins decline ✔ Nobody's going to actually notice it at the end of the day ✔ That's enough to matter, both to the Federal Reserve and to the public, who will notice when prices in Walmart start to jump, Shepherdson said
Southeast Asia's production gains speed as China slows
9/19/2018, 10:35:51 PMManufacturing index up 6.2% for first half as companies diversify bases ✔ Companies also are shuffling their production networks to dodge the U.S.-China trade war ✔ Taiwanese power components supplier Delta Electronics plans to turn affiliate Delta Electronics (Thailand) into a subsidiary to spread out its production bases, which are concentrated in mainland China and vulnerable to U.S. tariffs ✔ Try 3 months for $9 Offer ends September 30th
No way out? US, China tariffs may become the 'new normal'
9/19/2018, 8:38:50 PMWASHINGTON (AP) — The path to peace in a trade war between the United States and China is getting harder to find as the world's two biggest economies pile ever more taxes on each other's products. The United States is scheduled to slap tariffs on $200 billion in Chinese imports Monday, adding to the more than $50 billion worth that already face U.S. import taxes. China has vowed to counterpunch with tariffs on $60 billion in U.S. goods. President Donald Trump is ready to up the ante, threatening to tax just about everything China ships to the United States.
8@eight: Global markets rise; ASX set for flat start
9/19/2018, 10:03:58 PMWhat happened overnight and what's ahead for the ASX. ✔ Despite recovery considerable territory this week, adding to calls that China's indices have found a bottom, the overall trend for those markets remains in place ✔ Market watch: SPI futures down 3 points or 0.1% to 6186 at 6.45am AEST AUD +0.6% to 72.66 US cents On Wall St: Dow +0.6% S&P 500 +0.1% Nasdaq -0.1% In New York, BHP +2.5% Rio +1.9% Atlassian -2.7% In Europe: Stoxx 50 +0.3% FTSE +0.4% CAC +0.6% DAX +0.5% Spot gold +0.4% to $US1203.18 an ounce at 2.02pm New York time Brent crude +0.5% to $US79.42 a barrel US oil +1.5% to $US70.91 a barrel Iron ore -0.5% to $US69.46 a tonne Dalian iron ore -1% to 504 yuan LME aluminium -0.4% to $US2026 a tonne LME copper +0.6% to $US6121 a tonne 2-year yield: US 2.79% Australia 2.12% 5-year yield: US 2.95% Australia 2.27% 10-year yield: US 3.06% Australia 2.71% Germany 0.48% US-Australia 10-year yield gap as of 6.45am AEST: 35 basis points This column was produced in commercial partnership between Fairfax Media and IG
Trade wars could be worse for China's economy than the pain they inflict on US
9/19/2018, 9:52:32 PMChina's economy, much more vulnerable to exports, is likely to take a bigger hit than the U.S. from the escalating trade wars. ✔ Xu Congjun | Visual China Group | Getty Images The Chinese port of Nantong in Jiangsu Province, China ✔ Even so, China's leaders are not likely to blink any time soon, particularly with mid-term elections approaching, and President Donald Trump is not expected to back down ✔ If growth is so weak they can't come closer to their target, it may raise questions about whether the true growth rate is weaker
Anxious US could use more trade tricks - Opinion
9/19/2018, 11:44:06 PMundefined ✔ In fact, this is the main reason for the drop in Trump's rating ✔ Besides, the Trump administration's recent efforts to impose high tariffs on more imports have failed to produce satisfactory results ✔ The author is a researcher at the China Center for International Economic Exchanges
Dow ends session within 0.8% of January record as 10-year government bond yields hit 4-month high
9/19/2018, 8:20:33 PMundefined ✔ The S&P 500 index SPX, +0.13% meanwhile, closed up 0.1% at 2,907, not far from its all-time peak above 2,914 ✔ A popular fund used to bet on the financials sector, the Financial Select Sector SPDR ETF XLF, +1.70% rose by 1.8%, representing the best daily gain since July 9 ✔ Tilray has surged more than 600% over the past month
Trump’s tariffs won’t bite Apple, illustrating Tim Cook’s political sway
9/19/2018, 8:54:02 PMApple CEO Tim Cook has come to occupy a prominent role as one of Silicon Valley's savviest political operators -- a behind-the-scenes Trump whisperer who's been able to shape some of the administration's economic policies in ways that benefit Apple and some of its tech peers. ✔ The iPhone is assembled in China, but the parts come from everywhere, Cook told ABC on Tuesday in response to a question about the tariffs ✔ Clearly Tim Cook has been effective in his developing a relationship with the current administration, and this is probably one of the best examples of the fruits of that labor
Jack Ma: 'No way' to one million US jobs
9/19/2018, 8:16:32 PMThe Alibaba founder rows back on a pledge to create a million jobs amid US-China trade tensions. ✔ He added: The trade in the world really needs to be perfected, but trade is not a weapon, it cannot be used for war, it should be a propeller for peace ✔ Analysts have also warned that US companies selling in China could face nationalist backlash against their products
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