The trade turbulence between U.S. and China

23 July, 2018, 02:26 | Author: Regina Silva
  • Trump flags and hats made in China are reportedly being held up at customs as trade war heats up

The Wall Street Journal's Grep Ip explains why Trump's anti-Fed outburst is in no one's interest, least of all his own. Trump has slapped tariffs on imported steel and aluminum, provoking retaliatory measures by Canada, Mexico and US allies in the European Union.

Gentex Corp (GNTX.O), which makes automatic-dimming rear view mirrors, said it expected cost increases of between $5 million and $8 million for the second half of 2018 related to its planned purchases of raw materials from China. The United States then disputed the retaliatory tariffs at the World Trade Organisation on Monday, along with those the European Union, Canada, Mexico and Turkey imposed in response to new U S duties on steel and aluminum.

"We're in a world of firsts and tweeting about the Fed, not once, but twice, doubling down, that the president is trying to exert pressure", said Kim Forrest, senior portfolio manager at Fort Pitt Capital Group LLC in Pittsburgh.

In an interview with CNBC television broadcast Friday, Trump bluntly threatened to slap all Chinese imported goods with tariffs, saying the USA has been "ripped off by China for a long time".

Brookings Institution Fellow Joseph Parilla said governors don't decide US trade policy but can engage in direct economic diplomacy to encourage investment, while funding things like education and research at home.

New Mexico Farm and Livestock Bureau President Craig Ogden said retaliatory Chinese tariffs on USA pecans and new tariffs from Mexico on US cheese products are likely to hurt producers in New Mexico.

Earlier this month, the United States imposed tariffs on $34 billion of Chinese imports. return, China levied taxes on the same value of U S products.

Trump said the "being taken advantage of" on a number of fronts, including trade and monetary policy.

Nicole Maines Joins the Cast of Supergirl as TV's First Transgender Superhero
Tomasi's Superman: Black Dawn , which saw Manchester Black terrorize the Superman, Lois Lane, and their son Jon). They join Brainiac-5 ( Jesse Rath ) and Agent Liberty ( Sam Witwer ) who were bumped to series regulars.

One giant sale: Neil Armstrong's collection goes to auction
In a statement on Friday, U.S. space agency NASA announced a series of events to commemorate the 49th anniversary of the moon landing.

Lawmakers reject President Trump's claim that records confirm Federal Bureau of Investigation misconduct
The documents' release comes nine days after 12 Russians were charged with hacking Democratic officials in the 2016 USA elections. Yet Schiff said the materials shouldn't have been released during an ongoing investigation because of national security.

After a decent run to the upside this week the U.S. dollar has fallen back sharply today, largely as a result of last night's comments from President Trump, where he was critical of the Fed and the recent strength in the currency. The growing share of worldwide trade under threat-including the tariffs on autos and auto parts now under consideration-could harm the global economy by disrupting manufacturing supply chains, raising prices and causing firms to hold off on new investments.

By sheer dollar volume, the Chinese won't be able to come close to the United States in a tit for tat battle. "I want them to do well", he said. The Global Times, which is called the mouthpiece of the government of China, has said that coming to India with the trade war in America will prove to be a risky move for them. The US Dollar Index tumbled on the back of the news, reversing what was a short-term uptrend, to post a 0.7 per cent loss.

"The U.S. should be allowed to recapture what was lost due to illegal currency manipulation and BAD Trade Deals", Trump said on Twitter.

Unlike the dollar or euro, the yuan does not float freely against other currencies.

The yuan weakened nearly 1% against the U.S. dollar on Thursday to hit its lowest level in a year.

"Currency is now part of the trade war, folks", said Greg McKenna, market strategist at AxiTrader.

The U.S. Federal Reserve is raising interest rates while Beijing eases access to credit to support cooling economic growth.



Kings sign point guard Yogi Ferrell to 2-year deal
He may have to compete with the Mavs' latest draft pick, second round selection Jalen Brunson , a point guard from Villanova. Ferrell spent the previous two seasons with Dallas, averaging 10.2 points and 2.9 assists in 128 career games.

England to face New Zealand in final
South Africa started with two playmakers in Justin Geduld and Selvyn Davids , and it was this ploy that led to Ireland's undoing. From a midfield scrum, Lucy Mulhall made a great run and pass, which found Higgins who went over for a 10-5 lead at half time.

Top intelligence official says he meant no disrespect to Trump
In turn, national security experts said, Putin played Trump like a fiddle. "OK, that's going to be special". "The evidence is overwhelming and the President needs to say that and act like it".

Kylian Mbappe gets new number at PSG after World Cup win
PSG team-mate Kylian Mbappe - who was named best young player of the tournament after helping France win the World Cup - has also been linked with Madrid .

In Statistics: Maharaj Spins a Web to Keep Proteas Hopes Alive
South Africa spinner Tabraiz Shamsi has left the tour of Sri Lanka for unspecified family reasons, officials said on Monday. There is also a possibility of Shaun von Berg to get a debut who will be the third spinner and can bat a bit as well.

Jurgen Klopp defends Liverpool’s £65m fee for Alisson
The £66.8m signing of goalkeeper Alisson from Roma took Liverpool's spending over the last 12 months to nearly £250m. He confirmed that he's watched the Premier League and hopes to "get up to speed" through preseason friendlies.

Vegas takes wild journey to Carnoustie
For some real reason, the people at the consulate in NY decided not to respond to the application. Jhonattan Vegas probably isn't enjoying his Open Championship as much as he should be.

PlayStation 4 System Update Update 6.00 Beta Test Sign-Ups Are Now Live
It also usually doesn't reveal what these new features are until sometime after the registration has been closed. It appears that PlayStation 4 is set to receive its next milestone firmware update in the coming weeks.

This could be another Cambridge Analytica for Facebook, not that anyone’s surprised
Private data includes social media posts and profile info from private social media accounts, according to Crimson Hexagon . As well as government work, Crimson Hexagon has had deals with commercial companies including Adidas, Samsung and the BBC .

Rouhani says conflict with Iran would be 'mother of all wars'
The US is seeking to tighten the economic screws on Iran , abandoning a landmark 2015 nuclear deal and reimposing stringent sanctions.