Trump delivers hard line on new China tariffs threat Sebastian Smith (Agence France-Presse) - June 11, 2019 - 9:06am WASHINGTON, United States — President Donald Trump warned Monday he will slap huge new tariffs on China if his counterpart Xi Jinping doesn't show up for a planned face-to-face meeting later this month and insisted the Chinese economy will never overtake the United States. Trump delivered his hardline message ahead of the G20 summit on June 28-29 in Osaka, Japan, which could mark a turning point in the trade dispute between the world's two biggest economies. Asked if a failure by Xi to come to the summit would lead to tariffs kicking in on a further $300 billion in Chinese imports, Trump told CNBC television: "Yes it would." Trump said the meeting was "scheduled" and that he expects Xi to attend. "I would be surprised if he didn't go," Trump said. "I think he's going, I haven't heard that he's … [Read more...] about Trump delivers hard line on new China tariffs threat
Trump canada tariffs
Will Trump murder the 10-year bull market? Since Trump’s May 5 tweet, markets were buffeted by sharp downturns and spikes in volatility. Hope turned to despair as negotiations with China broke down, prompting Trump to implement sweeping tariffs. Many feared that Trump’s latest actions may put the bull market’s longevity to the test. Unfortunately, it turned out that Trump was just getting started. “TARIFF is a beautiful word indeed” – Trump To justify his penchant for using tariffs as his primary tool to deter bad behavior of other countries, Trump tweeted the following on June 1, 2019: “When you are the “Piggy Bank” Nation that foreign countries have been robbing and deceiving for years, the word TARIFF is a beautiful word indeed! Others must treat the United States fairly and with respect – We are no longer the “fools” of the past!” Trump imposes tariffs on Mexico over illegal … [Read more...] about Will Trump murder the 10-year bull market?
HONG KONG (BLOOMBERG) - Prospects for a United States-China trade deal just became even more remote after President Donald Trump whacked tariffs that could rise to 25 per cent on Mexico until that country stops immigrants from entering the US illegally. "A US-China trade deal will be even less likely," said Mr Khoon Goh, head of research at Australia & New Zealand Banking Group in Singapore. "At the end of the day, what's the point of doing a deal if the US can just impose tariffs arbitrarily?" Investors are already bracing for a prolonged economic stand-off between the world's two biggest economies. One potential beneficiary of the impasse was likely to be Mexico as companies considered shifting supply chains away from China towards lower-cost markets closer to American consumers. The latest escalation of Trump tariffs threatens that process. "This is throwing sand" into the US-Mexico-Canada Trade Agreement, said Mr Cliff Tan, East Asian head of global markets research at MUFG … [Read more...] about Mexico tariffs make China-US deal less likely, analysts say
MEXICO CITY: The United States imposed tariffs on Mexican tomatoes on Tuesday (May 7), adding to tensions between the two neighbours just as the debate deepens over their new but not yet ratified trade deal with Canada.The 17.5 per cent tariffs came into effect after the countries failed to renew an agreement that suspended a US anti-dumping investigation first opened 23 years ago.Mexico, which supplies half the fresh tomatoes consumed in the United States, estimated the tariffs would cost its exporters more than US$350 million a year."We expect many small and medium-sized exporters will find it impossible to cope with this heavy cost," the economy ministry said in a statement, expressing its "disappointment and concern."The Mexican tomato growers' association denied dumping. Its vice president, Manuel Antonio Cazares, told AFP the industry would take a "heavy hit" from the tariffs, and predicted US consumers would also pay a price.The United States opened an anti-dumping investigation … [Read more...] about New trade tensions as US slaps tariffs on Mexican tomatoes
By Keith Bradsher The New York Times Ana Swanson Tues., May 7, 2019 China’s top trade negotiator is heading to Washington for two days of trade talks, despite President Donald Trump’s threat to impose new tariffs on hundreds of billions of dollars’ worth of Chinese goods. China’s Commerce Ministry announced Tuesday that Vice Premier Liu He, one of the country’s leading economic policy-makers, would join a delegation of Chinese officials who will hold further trade talks Thursday and Friday with the Trump administration. Liu is a close adviser and confidant of President Xi Jinping, China’s top leader, and his participation could improve the changes of striking a deal. Still, the atmosphere surrounding the trade talks has shifted dramatically since a week ago, when this week’s discussions were seen as a possible last round before the two sides halted a trade war that has made world markets shudder and thrown a damper on the … [Read more...] about U.S.-China trade talks to resume despite Trump’s tariff threat