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Trade War SERIES 436

China hails Trump-Xi summit, but offers no new details BEIJING--The summit between President Xi Jinping and his U.S. counterpart Donald Trump in Argentina The two countries have hit each other with tit-for-tariffs on goods worth hundreds of billions of dollars in sectors from automobiles to agriculture and energy, stymying trade and redrawing global supply chains China's Commerce Ministry is due to hold its weekly news briefing later on Thursday, where it could offer more details on China's understanding of what had been agreed to
There may be more at stake than just trade concessions in the US-China tariff battle U.S. interference in the South China Sea and Taiwan — matters that Beijing considers internal — are seen as influencing factors on trade negotiations. Kevin Lemarque | Reuters Chinese President Xi Jinping and members of Chinese delegation attend a working dinner with U.S. President Donald Trump after the G20 leaders summit in Buenos Aires, Argentina December 1, 2018 The country claims nearly all of the international waterway despite competing claims from neighboring Asian countries
TSMC tells execs to park the Mercedes and take a Toyota instead Apple supplier clamps down on costs, anticipating a tougher 2019 Major iPhone assembler Foxconn, formally traded as Hon Hai Precision Industry, and its subsidiaries are preparing for a downturn with 100,000 job cuts across the group by the end of 2018, Nikkei Asian Review reported last month Wei was speaking as chairperson of the Taiwan Semiconductor Industry Association
Huawei suppliers' stocks hammered after CFO's arrest in Canada 26, 2018, file photo, a staff member uses a laptop computer at a display for 5G wireless technology from Chinese technology firm Huawei at the PT Expo in Beijing She is sought for extradition by the United States, and a bail hearing has been set for Friday
China November export growth seen slowing as global demand cools China's export growth is expected to have cooled in November, although stil... The drop in exports and imports growth is still mild, and not too much should be read into it, given the volatility, said Lu Ting, chief China economist at Nomura, adding that Chinese shippers were still front-loading goods to U.S. clients Our Standards:The Thomson Reuters Trust Principles
Abe's advice to Xi meeting Trump at trade war dinner At the Group of 20 summit on Friday, Abe again turned on the charm, congratulating Trump on his historic victory in the US midterm elections There are strong views in Japan that if China is sincere about rapprochement with Japan, while respecting relevant World Trade Organisation rules based on scientific evidence, China should significantly speed up the process towards lifting the restrictions against Japanese goods and products, the source said
China may target U.S. executives after arrest of Huawei CFO, this expert warns James Lewis told Axios that “Huawei is one of the Chinese government’s pet companies,” and warned “They will retaliate and China will take hostages.” If I was an American tech executive, I wouldn’t travel to China this week U.S. stock futures and Asian stock markets fell after reports of the arrest Subscribe to MarketWatch's free Asia Daily newsletter We Want to Hear from You Join the conversation Comment
Chinese embassy demands release of Huawei CFO arrested in Canada China's embassy in Canada criticized Canada and the United States on Thursday for wrongfully arresting Huawei's global chief financial officer Meng Wanzhou and demanded her immediate release. China has already made solemn representations to the United States and Canada, demanding they immediately correct their wrong behaviour and restore Ms Meng Wanzhou's freedom Huawei's smaller rival ZTE Corp had to temporarily halt much of its business earlier this year after the U.S. imposed an export ban on the company related to it illegally shipping U.S.-origin goods to Iran and North Korea
China top diplomat says Trump-Xi Argentina summit 'friendly and... China's top government diplomat said on Thursday that a summit between Pres... The Chinese government’s top diplomat, State councillor Wang Yi, said in a statement that the talks about trade frictions had been extremely positive and constructive, helping reach a consensus that worked for both China and the United States Our Standards:The Thomson Reuters Trust Principles
Amidst Trade War, Google, IBM, Oracle, and Other Tech Giants Head to White House for Tech Summit With a trade war looming, technology industry giants including Google, IBM, and Oracle are heading to the White House for a summit. The world’s largest smartphone chipmaker has already benefited from the government’s interest in keeping leadership of this firmly in U.S. hands The companies continue to pursue government business and both are seeking to win the Pentagon’s massive cloud-computing contract, for which Amazon is seen as the front-runner
Fed survey sees tariffs adding to "increased uncertainty" Its latest nationwide report on economic conditions says growth continues in most regions, but threats are rising The impact of rising interest rates affected rate-sensitive sectors such as housing, with the beige book noting that new home construction and sales of existing homes were either holding steady or experiencing slight declines Despite the wage pressures, the beige book said prices continued to increase at a modest pace in most districts, although reports of tariff-induced cost increases have spread more broadly in such areas as manufacturing, retailing and restaurants
Investor Anxiety Outweighs Good Economic Data in Market Rout The volatility sweeping financial markets this week underscores investors’ growing unease about the durability of the nearly decadelong bull market, even as most economists see little risk of near-term recession. There is a risk that investors’ pessimism, to an extent, could become a self-fulfilling prophecy, according to an October report by Goldman Sachs analysts We’re still looking at most of it as opportunity but we’re being a little more cautious, he said
Japan manufacturers' mood down, bodes ill for Bank of Japan survey:... Confidence among Japanese manufacturers worsened for a second straight month in ... The service-sector index edged up to 31 from 30 in November, led by the information and communications industry Optimism that Washington and Beijing would quickly resolve their trade dispute sharply waned this week, days after U.S. President Donald Trump and Chinese President Xi Jinping agreed on Saturday to shelve any new tariffs A positive figure means optimists outnumber pessimists Our Standards:The Thomson Reuters Trust Principles
Republicans and Democrats agree: Trump can't just do what he wants with NAFTA "The simple fact is NAFTA was enacted through legislation," Toomey said. "It requires legislation to repeal it." If the president was really confident that his trade proposal was going to work, he wouldn't be playing this kind of brinkmanship and trying to throw this kind of muscle around, he said, noting the White House's rushed pace But as I say, I simply reject the idea he has the authority to do it
Luxury 'Red Flag' models buck China auto sales slump Car sales are falling in China this year but one brand is speeding ahead: The national "Red Flag" sedan is flying high, powered by purchases from the government, state companies and patriotic citizens. Beloved by Chairman Mao Zedong, the luxury car -- "Hongqi" in Chinese -- is getting a new… Car sales are falling in China this year but one brand is speeding ahead: The national Red Flag sedan is flying high, powered by purchases from the government, state companies and patriotic citizens FAW also built those Audis -- but in partnership with Volkswagen
China hails 'mutual respect' as it loops Portugal into belt initiative China will always stick to "mutual respect" in its efforts to deal wit... During Xi’s visit, Portugal and China signed a memorandum of understanding on cooperation on Beijing’s belt and road initiative - which promotes expanding land and sea links between Asia, Africa and Europe, with billions of dollars pledged for infrastructure development
Fed survey cites rising concerns about trade tariffs WASHINGTON (AP) — The Federal Reserve says that the U.S. economy was growing in the fall, but there were concerns about higher tariffs from a widening trade war, rising interest rates and tight labor markets. In its latest report on economic conditions around the country, the Fed says most of its 12 regions saw moderate growth through late November. Dallas and Philadelphia says growth had slowed, while St. Louis and Kansas City depicted growth as slight. The report, known as the beige book, found that optimism about the future had waned somewhat. Business contacts cited "increased uncertainty," stemming from factors including retaliatory tariffs levied on U.S. exports, rising interest rates spurred by the Fed's credit tightening and labor market constraints. Dallas and Philadelphia says growth had slowed, while St The report, known as the beige book, found that optimism about the future had waned somewhat Business contacts cited increased uncertainty, stemming from factors including retaliatory tariffs levied on U.S. exports, rising interest rates spurred by the Fed’s credit tightening and labor market constraints
Dollar recovers as hit from fears of U.S. recession eases The dollar edged higher on Wednesday, as the boost to the euro and the yen from ... 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