Trump threatens tariffs on all US$505 billion of Chinese imports
Trump threatens tariffs on all US$505 billion of Chinese imports
President Trump Eyes an Additional $500B Worth of Tariffs on Chinese Goods
23 July, 2018, 12:43
Many analysts now fear there will be no significant movement towards resolution until after US mid-term elections in November.
The Chinese yuan weakness achieved through higher U.S. dollar-Chinese yuan fixings, while consistent with the People's Bank of China's (PBoC) easing bias, remains an unlikely retaliatory tool given the ongoing risk of capital outflow, in our view.
"It's necessary for China to give the United States a head-on, painful attack, so that it could truly realise that its trade war is a disaster for the U.S., other countries and the whole world".
"I've been surprised that up until now, markets seem overly sanguine about the risks" of a trade war between the world's two biggest economies, said David Dollar, senior fellow at the Brookings Institution and a former official at the World Bank and U.S. Treasury Department.
The yuan's fall provides "a significant offset to the loss in export competitiveness for Chinese exporters due to higher USA tariffs", Rajiv Biswas, chief Asia economist with IHS Markit, told AFP. The results will probably be announced by Monday, they said.
Trump told CNBC on Thursday that he was "not thrilled" that the United States central bank is raising interest rates as the economy improves, Xinhua reported. But it's something investors will have to think about.
"They're not doing what we're doing and we already have somewhat of a disadvantage, although I'm turning that into an advantage", he said. "This is one more item that just creates noise in markets".
The S&P 500 index lost 0.4 per cent to 2,804.49 on Thursday.
The Dow Jones Industrial Average finished down 6.38 points (0.03 per cent) at 25,058.12. The pan-European STOXX index and Germany's DAX, which is highly exposed to trade and China, were down 0.2 percent and half a percent respectively.
Benchmark 10-year USA notes last fell 12/32 in price to yield 2.8894 percent, from 2.847 percent late on Thursday. South Africa's rand gained 1 percent to 13.41 per dollar.
Benchmark Brent crude stabilized as a weakening dollar and lower expected August oil exports from Saudi Arabia supported the market, overtaking concerns about U.S. The euro rose to USD1.1655 from USD1.1644. The U.K.'s FTSE 100 Index was little changed. The company said it's being helped by its rivalry with Amazon, because some retailers are reluctant to team up with Amazon on cloud computing services while they compete with Amazon in sales. The British pound strengthened 0.9 percent to $1.3136.
But General Electric sank 4.5 percent after it reported a 29.7 percent drop in second-quarter earnings to $615 million on continued power industry weakness. GE, which has been selling and splitting off businesses, also cut its forecast for how much cash its businesses will generate.
Last week, the Trump administration also identified a further $200bn in Chinese goods it may target for tariffs, for a total of $250bn.
US stocks are little changed Friday as traders shrug off the latest trade threats from President Donald Trump and focus on company earnings reports, which contained some better-than-expected results from big names including Microsoft.
With trade tensions rising, so is the pushback from American business that fear potentially devastating consequences, not only from China but also from Europe, Canada and other countries in Asia.
The People's Bank of China weakened the country's currency against the dollar on Friday. Critics lined up to urge the administration to reject auto tariffs.
USA crude rose 0.81 percent to $70.02 per barrel and Brent was last at $73.15, up 0.79 percent on the day. Heating oil edged up 0.7 percent to $2.10 a gallon. The EUR/USD is trading at $1.1641, down 0.04%; the pair has ranged from a low of $1.16357 to a peak of $1.16598. That was a jump of 0.6 percent from 10,864.54 on July 13. Britain's FTSE 100 gave up 0.1 percent.
United play the first match of their USA against Mexican side Club America in the early hours of Friday morning BST. I sent a nice message before the World Cup , but during World Cup I decide not to disturb anyone.
The company's managing director tweeted:"All it takes is a public apology Mr Musk and i will reverse our decision". A spokesperson for Tesla declined to comment when Business Insider inquired about the political donations.
Ben Stokes will play in the first Test against India even though it could finish just 24 hours before the start of his court case. Talking about the ODI series, England and India both are on the same level right now with one win in their accounts.
As he has done before, Trump attacked the investigation led by special counsel Robert Mueller into Russian election interference. President Donald Trump said Monday he sees no reason why Russian Federation would have interfered in the 2016 election.
The Indian skipper, who had reached his 48th ODI half-century off 55 balls, looked stunned at the turn Rashid had generated. He was drafted in after Jason Roy was a doubt after suffering a finger injury during England's win at Lord's on Saturday.
As Trump departs the U.K., Prime Minister Theresa May surprised many by stating that the president encouraged her to sue the EU. Coming directly from Scotland after his visit to Britain, Trump will hold talks with Putin on Monday with only translators.
The Gunners will be joined out in Asia by some more of their big names, including Germany global Mesut Ozil. And I want him to relax good, and I want when he comes back with us, to start good with a good mentality.
Van Avermaet got out in an early breakaway that managed to open up a seven-minute gap over the pack midway through the stage. Froome attacked with 3.5 kilometers to go and passed longtime leader Steven Kruijswik.
The former Trump campaign chairman faces a number of charges including fraud, money laundering and obstruction of justice. Special Counsel Robert Mueller's investigation into possible collusion between Russian Federation and U.S.
Israel, Hamas agree to restore calm in Gaza Strip
The United Nations has urged Hamas and Israel to "step back from the brink" as tensions between the two sides continue to flare. The soldier's murder was what prompted Israel to launch numerous airstrikes against Hamas, which are still ongoing.
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Alisson close to Liverpool
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