It's D-Day: Thursday marks probably the most important moment yet in Trump's trade war with China
9/6/2018, 9:51:36 AMThursday is possibly the most important single day so far in the burgeoning trade war between the US and China, as Trump decides whether to levy new tariffs on $200 billion of Chinese goods. ✔ Trump has previously made clear he'd be willing to place tariffs on all Chinese goods coming to the US, t elling CNBC in an interview in July that he was ready to go to 500 ✔ It is not confirmed exactly when a decision on fresh tariffs will be announced, but check back to Business Insider later in the day to find out
The Latest: China ready to retaliate if US imposes tariffs
9/6/2018, 10:04:16 AMWASHINGTON (AP) — The Latest on the U.S.-China trade war (all times local): 4:30 a.m. China's government says it is ready to retaliate if the U.S. ahea ✔ Asian markets are mixed on fears that the U.S. would soon impose tariffs on another $200 billion of Chinese goods, as public consultations draw to a close ✔ Communist leaders who are trying to nurture more sustainable growth in the world’s No. 2 economy clamped down on bank lending to rein in surging debt
China warns of retaliation if U.S. slaps new tariffs
9/6/2018, 8:38:38 AMChina will be forced to retaliate if the United States implements any new tariff measures, China's commerce ministry warned on Thursday, as the world's two biggest economies remain locked in an intensifying trade war. ✔ The new duties will start to hit consumer products directly, including furniture, lighting products, tires, bicycles and car seats for babies ✔ China and the United States have already slapped tit-for-tat tariffs on $50 billion of each other’s goods, spooking financial markets in recent months as investors and policy makers worried the bitter trade war could derail global growth ✔ Our Standards:The Thomson Reuters Trust Principles
World stocks fall for fifth straight day on trade fears
9/6/2018, 11:33:57 AMWorld shares fell for a fifth straight day on Thursday as investors braced for another escalation in a trade war between the United States and China, while emerging-market currencies paused near 15-month lows. ✔ It has gained 8 percent since the end of March, with currencies in emerging markets taking a hammering ✔ But measured against a basket of currencies, the dollar retreated from the two-week highs it reached earlier this week to stand 0.1 percent lower at 95.09 ✔ Our Standards:The Thomson Reuters Trust Principles
As next round of U.S. tariffs on China looms, both sides dig in
9/6/2018, 8:38:37 AMWith U.S. President Donald Trump gearing up to impose tariffs on $200 billion in Chinese goods and Beijing certain to retaliate against any measures, the world's two biggest economies are locked in an escalating trade war, with no resolution in sight. ✔ The new duties will start to hit consumer products directly, including furniture, lighting products, tires, bicycles and car seats for babies ✔ REUTERS/Thomas Peter/File Photo Beijing appears to be bracing for a long fight ✔ The Soviet Union was pulled into an arms race in the Cold War ✔ Our Standards:The Thomson Reuters Trust Principles
Donald Trump poised to tax an additional $200B in Chinese imports
9/6/2018, 11:18:12 AMThe Trump administration may be about to slap tariffs of up to 25 percent on an additional $200 billion in Chinese goods, escalating a confrontation between the world’s two biggest economies and likely squeezing U.S. companies that import everything from handbags to bicycle tires. ✔ And China has vowed to hit $60 billion in U.S. products in retaliation ✔ Many American companies that rely on targeted Chinese imports are bracing for the next round of tariffs to hit, with some wondering whether they can absorb the higher costs or instead will need to pass them along to their customers - or find alternatives suppliers outside China ✔ AP Economics Writer Christopher Rugaber in Washington contributed to this report
10 things you need to know before the opening bell
9/6/2018, 10:59:47 AMThis is what traders are talking about. ✔ Elon Musk reportedly lawyers up amid SEC investigation ✔ The S&P 500 is set to open little changed near 2,890 ✔ Dell Technologies reports ahead of the opening bell while Broadcom and GameStop release their results after markets close ✔ The US 10-year yield is down 1 basis point at 2.89%
Ministry: China will counter any new US tariffs
9/6/2018, 9:07:32 AMChina will have to take necessary countermeasures if the United States insists on imposing new tariffs against Chinese goods regardless of strong opposition, the Ministry of Commerce said at a regular news conference. ✔ The US government has threatened 25 percent duties on $200 billion worth of Chinese imports ✔ The two sides are still maintaining work communications after bilateral talks at the deputy ministerial level completed late last month, he said ✔ The trade war cannot solve any problems, as solutions can only come through equal consultation
China's potential weapons against US tariffs could backfire on its growth — here's why
9/6/2018, 8:44:20 AMThe yuan has depreciated 8 percent since May, and could see a further 15 percent drop brought on by the People's Bank of China to counter U.S. tariffs. But that could trigger huge capital outflows, something Beijing definitely does not want. ✔ But if it falls too far too fast, then investors may get frightened and they could see huge capital outflows, which is exactly what they don't want right now ✔ Both sides seem now to be in entrenched positions from which compromise is unlikely, at least in the near term
The economy is sailing along. What could possibly go wrong?
9/6/2018, 10:49:40 AMWhat could possibly go wrong to upend the current period of strong growth, low and stable inflation, low unemployment and low interest rates? Here are a few possibilities, according to Caroline Baum. ✔ Perhaps Trump is unaware of the assistance the U.S. Department of Agriculture provides to the domestic sugar industry, including above those available on world markets ✔ The U.S. and Mexico signed a tentative trade agreement last week ✔ We Want to Hear from You Join the conversation Comment
Hong Kong now has more super-rich people than any other city
9/6/2018, 10:57:05 AMHong Kong has overtaken the Big Apple to become the top destination for the planet's wealthiest individuals. ✔ But Asia, and China in particular, are catching up ✔ Their combined total wealth hit $31.5 trillion, boosted by an upturn in the global economy and good performances of stock markets ✔ Other cities in the top 10 for global wealth included Tokyo, Los Angeles, Paris and London
Hong Kong stocks fall to one-year low on tariff worries
9/6/2018, 9:49:23 AMZijin Mining drops on plan to buy Nevsun while China Tower halts losing streak ✔ In the mainland, the Shanghai Composite slipped 0.5%, while its Shenzhen counterpart lost 0.7% ✔ The stock had risen 68% over a seven-day period through Wednesday ✔ -- Amy Lam Get unique insights on Asia, the most dynamic market in the world ✔ Try 3 months for $9 Offer ends September 30th
Dow set to edge higher but broader stock market on the brink of 3-session skid
9/6/2018, 11:20:40 AMThe Dow was set to tip higher Thursday but the broader market was on the verge of sinking for a third session in a row as investors await the latest development in trade talks and key reports on employment and economic strength that might provide a further investment catalyst. ✔ m., and a decline of 0.6% is estimated New York Federal Reserve President John Williams is on tap to deliver a speech at 10 a.m. about the regional and national economy at the University of Buffalo School of Management What are market strategists saying
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