How China is fighting back in the trade war
9/24/2018, 5:03:59 AMBusinesses in China remain defiant in the face of escalating trade threats from the United States. ✔ From Monday, US tariffs of 10% on $200bn (£152.9bn) worth of Chinese goods come into effect on almost 6,000 products, ranging from handbags to textiles ✔ Look at the last four decades since China and the US established diplomatic ties, he said to me in his office in Beijing ✔ But this trade war has many here feeling that the US wants to halt China's rise - and China is preparing for a long battle ahead
China accuses Trump Administration of bullying as trade war flares
9/24/2018, 7:59:04 AMChina's State Council is blaming the White House for escalating the trade dispute with contradictory behaviour and causing serious damage to economic relations. ✔ The White Paper argued that US exports to China are growing faster than America's global exports, with US exports of goods to China worth $US129.89 billion in 2017, an increase of 577 per cent from $US19.18 billion in 2001, and higher than the US export growth of 112 per cent
Trade war takes bite out of Chinese port city Tianjin
9/24/2018, 6:53:56 AMIronically, tariffs hit Samsung and German luxury car dealers hardest ✔ The timing could not have been worse, a city official said, referring to the then-looming game of tariff one-upmanship between the world's two largest economies ✔ Another four-story shopping center is home to fewer than 10 shops ✔ Try 3 months for $9 Offer ends September 30th
US-China trade war intensifies as both sides impose new tariffs
9/24/2018, 7:52:59 AMBeijing calls off talks, while Washington slaps 10% levies on $200bn worth of imports ✔ The white paper encouraged both countries to enhance mutual trust, promote cooperation, and manage differences ✔ See also How Asian companies are navigating the trade war US-China trade war: Asia's winners and losers Trump has said the tariffs are a retaliation for what he believes is Chinese theft of U.S. intellectual property, and has demanded that China revise what he calls its unfair practices ✔ Try 3 months for $9 Offer ends September 30th
Fed unlikely to be blown off rate course by trade war
9/24/2018, 5:05:32 AMundefined ✔ Roberto Perli of Cornerstone Macro said the new tariffs may shave a quarter-point off Fed growth forecasts in 2019 and 2020, although there could also be offsetting factors that limit the dent ✔ The prospects for rates will become particularly uncertain assuming they reach neutral levels those that neither boost the economy nor hold it back next year
Asian shares wobble on fear of long U.S.-China trade war; oil rallies
9/24/2018, 5:03:48 AMsian shares stumbled in holiday-thinned trading on Monday as China's decisi... ✔ So while we continue to be constructive on the global economy over the coming quarters, it is hard to see the current surge in U.S. activity morphing into another period of coordinated global growth ✔ There was some optimism generally about Chinese growth as authorities in Beijing step up policy stimulus to offset the economic impact of the tariffs ✔ Our Standards:The Thomson Reuters Trust Principles
China's 5G a bigger threat than trade war, says ex-Dallas Fed chief
9/24/2018, 2:36:53 AMFormer CEO Fisher claims US fears Chinese tech hegemony ✔ Turkey's lira lost 40% of its value against the dollar this year, hit by Erdogan's intervention on monetary policy and diplomatic spat with the U.S. Turkey's annual consumer price inflation hit 17.9% in August, its highest level since late 2003 ✔ Try 3 months for $9 Offer ends September 30th
'We're going to win!' Pompeo vows China trade war will last until Americans get what they 'deserve'
9/24/2018, 1:01:52 AMAs the latest US and Chinese tit-for-tat tariffs are about to take effect, Mike Pompeo has reassured Americans that any inconveniences they might suffer in the trade war are temporary, before they emerge victorious and prosperous. ✔ Washington's move will also affect everyday consumer goods such as air conditioners, shoes, fruit juice and kids’ goods, damaging US multinationals doing business in China ✔ The trade war by China against the United States has been going on for years, Pompeo said ✔ To the extent one wants to call this a trade war, we are determined to win it
US-China trade war: New tit-for-tat tariffs targeting $260bn in bilateral trade go into effect
9/24/2018, 4:45:32 AMThe Sino-American trade conflict has entered a new stage, after the latest tit-for-tat tariff hikes, targeting in total some $260 billion-worth of bilaterally traded goods, has officially come into effect. ✔ The new tax rates took effect at 12:01pm Beijing time on September 24, just as Washington’s clock passed midnight ✔ China's counter-measures cover everything from smaller aircraft, computers and textiles, to chemicals, meat and wine ✔ The latest round of tariff hikes raises the stakes in the trade battle
US tariffs on $200bn in Chinese goods take effect
9/24/2018, 4:50:33 AMThe tit-for-tat moves are the latest escalation in trade war between the world's two largest economies. ✔ Previous US administrations have accused China of stealing technology by forcing firms to reveal secrets as a condition to operate in the Chinese economy ✔ We must strive to improve the business environment and reduce costs for foreign exports by a third, lower customs fees and reduce the time needed to get customs clearance, the government said in a statement ✔ Counting the Cost What's the endgame in the US-China trade war
Trump's tariffs threaten to shatter China's economy. It already has cracks
9/24/2018, 5:25:12 AMThe world's second-largest economy is in the midst of an intensifying trade war, but that's just one of many challenges it has to face.
Japanese, other Asian firms shifting production from China as U.S. tariffs take toll
9/24/2018, 12:26:29 AMAs the U.S. imposes tariffs on Chinese imports, a growing number of Asian manufacturers producing items there are moving to shift production from China to other factories in the region. ✔ Toshiba Machine Co. says it plans to shift production of U.S.-bound plastic molding machines from China to Japan or Thailand in October ✔ The EEC last month took some 800 representatives of Chinese companies on a tour around the eastern industrial heartland, and the country’s Board of Investment has done seven road shows in China this year to woo investors
U.S. and China clobber each other with biggest sets of tariffs yet
9/24/2018, 6:26:01 AMNeither of the world’s two largest economies showed signs of backing down with no further trade talks publicly scheduled. ✔ By Danielle Paquette Danielle Paquette Reporter focusing on national labor issues Email Bio Follow September 24 at 2:18 AM BEIJING The commercial battle between the United States and China heightened Monday as the economic powerhouses slapped each other with the largest rounds of tariffs yet, unleashing punitive duties now on roughly half of their traded goods ✔ China has refused to cave amid Trump’s escalating threats
Hong Kong stocks fall after China declined further US trade talks
9/24/2018, 2:42:13 AMundefined ✔ A poor result for President Trump at the mid-terms might instead encourage him to double-up a policy that has up to now won him some votes ✔ The offshore renminbi was 0.3 per cent weaker at Rmb6.866 to the dollar while its onshore counterpart was not trading
Tariffs, the UN and the Fed headline the week ahead
9/24/2018, 5:39:33 AMThe Federal Reserve meets on Tuesday. The decision on interest rates will be announced on Wednesday. ✔ Who deserves credit for the booming economy ✔ The latest escalation in a heated trade war between the world's two largest economies went into effect Monday morning ✔ The Trump administration placed tariffs of 10 percent on the $200 billion of Chinese products, with the tariffs to go up to 25 percent by the end of 2018 ✔ Fed Reserve Chairman Jerome Powell will also hold a news conference
Gold inches down on firm dollar as China halts trade talks
9/24/2018, 2:00:11 AMGold prices slid on Monday as the dollar steadied on the back of news that China has canceled trade talks with the U.S. ✔ U.S. gold futures were virtually unchanged at $1,201.1 an ounce ✔ Liquidity is expected to be thin during Asian hours as markets in Japan, China and South Korea are closed for a holiday ✔ The Fed will end its two-day policy meeting on Wednesday ✔ Barrick Gold and Randgold were said to be in advanced talks on a merger, Bloomberg reported
World still waiting for wages boost despite stronger economy: Hays
9/24/2018, 7:22:39 AMA meaningful boost to wage growth still looks elusive for most countries despite... ✔ Japan, the United States and major European economies such as France and Spain showed some of the biggest disparities between the skills that employers need and those available in the workforce, the Hays report showed ✔ Our Standards:The Thomson Reuters Trust Principles
European markets seen mostly lower as fresh US-China trade tariffs kick in
9/24/2018, 6:04:45 AMEuropean stocks are set to open Monday on a relatively negative note. ✔ Meanwhile, the U.K.'s relationship with the European Union remains tense between both groups and within the British political party system itself ✔ In oil news, Saudi Arabia's oil minister rebuffed President Donald Trump's recent accusations that OPEC was trying to push crude prices higher, when speaking to journalists Sunday at the Joint Ministerial Monitoring Committee (JMMC) in Algiers ✔ On the economic data front, the Ifo Business Climate Index is due out at 9 a.m. U.K
Yen gets brief blip as China cancels trade talks
9/24/2018, 1:46:05 AMThe Japanese yen gained momentarily on Monday on the back of news that China had canceled trade talks with the U.S., with the latest round of tariffs set to come into effect later. ✔ A run of upbeat U.S. economic data has also led markets to price in a much greater chance of a move in December as well, which should give the currency a fatter rate advantage over its competitors ✔ Sterling was last at $1.3077, far below last week's top of $1.3297
Hong Kong stocks slide on new tariffs and canceled talks
9/24/2018, 6:12:29 AMTrading activity muted because of holiday in China and closure of trading links ✔ The electronic trading link that allows mainland investors to access Hong Kong stocks is closed for most of this week and all of next week ✔ Mainland Chinese markets, which reopen on Tuesday, will be closed all of next week for the National Day holiday ✔ Try 3 months for $9 Offer ends September 30th
Asian shares wobble as China cancels trade talks with U.S.; oil...
9/24/2018, 4:05:55 AMsia shares stumbled in holiday-thinned trading on Monday as China ramped up trad... ✔ There was some optimism generally about Chinese growth as authorities in Beijing step up policy stimulus to offset the economic impact of the tariffs ✔ Chinese Premier Li Keqiang said over the weekend China will cut import and export costs for foreign firms as it looks to promote an image of being open for business ✔ Our Standards:The Thomson Reuters Trust Principles
New US, China tariffs take effect with no trade talks in sight
9/24/2018, 5:46:57 AMThe United States and China imposed fresh tariffs on each other’s goods on Monday, as the world’s biggest economies showed no signs of backing down from an increasing bitter trade dispute that has rattled financial markets. ✔ Rob Carnell, chief Asia economist at ING, said in a note to clients that in the absence of any incentives Beijing would likely hold off on any further negotiations for now ✔ Some analysts say there is also a risk that China could allow its yuan currency to weaken again to cushion the blow to its exporters
Yen gets brief lift as China cancels trade talks, releases white paper
9/24/2018, 6:01:33 AMThe safe-haven Japanese yen blipped briefly higher on Monday as investors reacte... ✔ A run of upbeat U.S. economic data has also led markets to price in a much greater chance of a hike in December as well, which should give the currency a fatter interest rate advantage over its major counterparts ✔ Our Standards:The Thomson Reuters Trust Principles
Some farmers worry Trump's bailout checks won't be enough
9/24/2018, 5:31:10 AMWASHINGTON (AP) — Farmers across the United States will soon begin receiving government checks as part of a billion-dollar bailout to buoy growers experiencing financial strain fr ✔ WASHINGTON (AP) Farmers across the United States will soon begin receiving government checks as part of a billion-dollar bailout to buoy growers experiencing financial strain from President Donald Trump's trade disputes with China ✔ I mean, if you're a farmer you're in the business of producing a crop
China accuses US of 'trade bullyism' as both sides impose fresh tariffs
9/24/2018, 6:10:14 AMThe official Xinhua news agency said on Monday that Washington was intimidating other countries to submit to its will through measures such as tariffs. ✔ Jim Watson | AFP | Getty Images President Donald Trump (L) and Chinese President Xi Jinping walk together at the Mar-a-Lago estate in West Palm Beach, Florida, April 7, 2017 ✔ Trade talks in Washington last month produced no meaningful progress ✔ Rob Carnell, chief Asia economist at ING, said in a note to clients that in the absence of any incentives Beijing would likely hold off on any further negotiations for now
China says U.S. trying to bully it into submission as fresh tariffs...
9/24/2018, 7:36:44 AMtes and China imposed fresh tariffs on each other's goods on Monday as the ... ✔ FILE PHOTO: China Shipping containers sit on a ship in the Port of Los Angeles after being imported to the U.S., California, October 7, 2010 ✔ REUTERS/Lucy Nicholson/File Photo A senior White House official said last week the U.S. will continue to engage China, but added there was no date set for the next round of talks ✔ Our Standards:The Thomson Reuters Trust Principles
Energy sector unable to lift ASX as CSL weighs
9/24/2018, 7:02:36 AMAustralian shares have closed lower on a mixed day of trading as positive gains by the energy sector were wiped by CSL and the materials industry's losses. ✔ The broker added that it required more clarity on the unit economics of the revised European growth plans before it became more positive ✔ Most Viewed in Business Loading A relationship banned under traditional law ✔ Our new podcast series from the team behind Phoebe's Fall View episodes
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