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Trump's push for tariffs squeezes a weakening global economy NEW YORK (AP) — The global economy was already showing signs of a slowdown when President Donald Trump reminded the world of his love of tariffs and sent a chill through financial markets. "I am a Tariff Man," Trump announced Tuesday to signal his devotion to import taxes — a remark that served to downplay the likelihood of ending his trade war with China. Stocks sank across the world, in part over fear that an escalation in tariffs would choke off economic growth and possibly send a global slowdown into a recession. Italy is suffering from uncertainty over its economic outlook under a new populist government That’s because companies must either absorb the higher costs created by tariffs or pass them on to their customers Tariffs reduce incomes for American taxpayers, and the effect is greater for middle and lower-income families
Tariff effects broaden across U.S., wage growth higher: Fed Tariff-driven price increases have spread more broadly through the U.S. economy,... FILE PHOTO - A U.S. flag flies at the Port of Los Angeles in Los Angeles, California, May 30, 2012 Labor markets tightened across a broad range of industries, and wage growth tended to the higher side of a modest to moderate pace Our Standards:The Thomson Reuters Trust Principles
China promises swift action on trade, but mystery still surrounds the agreement between Trump and Xi The few words offered by China’s Ministry of Commerce on Wednesday about a deal between President Trump and Chinese President Xi Jinping to temporarily suspend tariff hikes expressed confidence but provided little clarity on just what the two leaders agreed at a weekend meeting. A spokesman for China’s Foreign Ministry also expressed hopes of a deal to end the trade war China’s Made in China 2025 plan Xi’s ambitious policy to see China emerge as a global leader in key high-tech industries is perceived in Washington as a threat to the United States’ global power, as is his Belt and Road infrastructure initiative that has extended China’s reach across the world as it offers loans and underwrites building projects in dozens of nations
Forget the trade truce: Trump’s tariffs are killing U.S. jobs President Donald Trump’s trade war was meant to bring lost manufacturing jobs back to the U.S., but it’s doing the opposite. PETER PARKS/AFP/GettyImages A Shanghai General Motors vehicle is parked on a street in Shanghai Unlike people, robots cost about the same everywhere, so businesses are better off building factories near the customer Subscribe to MarketWatch's free Asia Daily newsletter
Making money off investments hasn't been this hard since Richard Nixon's presidency In terms of losses, investors have seen far worse. But going by the breadth of assets failing to deliver, 2018 is starting to look historic. Nothing’s working. Not large or small-cap stocks, not international or emerging equities, not Treasuries, investment-grade bonds, commodities or real estate. And not a single one of them is on track to post a return this year of more than 5%, a phenomenon last observed in 1972, according to Ed Clissold, a strategist at the firm In terms of losses, investors have seen far worse Normally when something falls, something else gains Clissold has a villain: evaporating central bank stimulus Tuesday, the S&P 500 Index posted its fifth drop of more than 3% this year
FTSE latest: London share prices PLUMMET amid US-China trade war fears LONDON share prices plummeted this morning amid fears of a new US-China trade war. London shares dropped amid fears of a US-China trade war (Image: Getty) Xi Jinping and Trump agreed a trade truce at the G20 (Image: Getty) As the US and China carry out negotiations to finalise a deal over their economic dispute, Mr Trump has warned China to negotiate a fair deal or else continue to face imposed tariffs
Tussle for tech supremacy powers US-China animosity Confucius, in the Analects , argued that if names are not correct and language is not in accord with the truth of things, affairs cannot be carried out successfully Some say China took the opportunity to penetrate US universities, laboratories, and companies, gaining access to technology that enhanced its power and threatens America’s security
China promises quick action on 'consensus' trade issues Trump encouraged by 'strong signals' from Beijing The Dec. 1 meeting had failed to produce a joint statement, and both the U.S. and China had issued their own takes of the meeting, exposing inconsistencies These wrongdoers will find it harder to get government financial support, participate in government procurement, issue corporate bonds and acquire government land supply, according to the NDRC memorandum
Big-money investors see the bull market ending in 2019  The longest bull market run in history is coming to an end in 2019, according to the pros who handle Wall Street's big-money clientele. Kai Pfaffenbach | Reuters People with umbrellas pass by bull and bear outside Frankfurt's stock exchange during heavy rain in Frankfurt, Germany, November 20, 2017 While caution arises over the U.S., 48 percent of institutional investors say the best emerging market opportunity will come in the Asia Pacific region
Shortlived market respite puts investors on edge When this measure turns negative, it suggests the Fed may have over-tightened monetary policy, with every recession since the war preceded by an inverted yield curve This is a concern for both bond and stock investors, but strategists said equities could keep rallying as the yield curve narrows and even inverts albeit for a limited time
Here's how much Trump tariffs will cost you The White House has already imposed tariffs on imports of steel and aluminum, and hundreds of billions of dollars’ worth of goods from China. Trump isn’t going to stand for China’s theft of IP: Wilbur Ross U.S. Commerce Secretary Wilbur Ross discusses the trade dispute between the United States and China Overall, including the threats to implement more levies, the tariffs amount to $129 billion in additional taxes on the average American
Dollar steadies as hit from fears of U.S. recession eases The dollar steadied on Wednesday, as the boost to the euro and the yen from worr... On Tuesday, the futures market implied traders expect the U.S. central bank to raise interest rates at its next policy meeting, on Dec. 18-19, but they have scaled back their expectations of two rate hikes in 2019 to less than 10 percent, down from 59 percent a month ago
India rupee latest: Reserve Bank leaves interest rates unchanged as INR holds against USD INDIA’S central bank kept interest rates unchanged today as the rupee held ground against the US dollar. The time is apposite to further strengthen domestic macro-economic fundamentals Reserve Bank of India Last week saw India report a slowdown in economic growth The political heat is already rising as the elections being held in five states currently will set the tone for the national elections in May 2019
A Trade Detente Would Fuel The U.S. Energy Sector And China's Environment The trade dispute between the U.S. and China could also ensnare the American energy sector. Experts say that an offramp is needed — one that also benefits both economies and China’s environment. Economists agree on almost nothing except that free and fair trade produces better business and healthier economies Economically, however, the United States has more staying power Any detente on trade disputes would not just fuel the U.S. energy sector but it would also benefit China's environment
Brexit latest: Make sure your finances are Brexit-proofed AS the UK faces the possibility it might crash out of the EU without a deal next March, now is the time to make sure your finances are able to withstand the impact. Jason Porter, director of wealth advisor Blevins Franks, said the best protection is to invest in a diversified spread of global equity funds as well as bonds, cash and property: This can help you survive unsettling short-term market movements and limit your exposure in any one area