Tag Archives: trade wars

China Reports Record Trade Surplus With United States

The Wall Street Journal reports: China’s trade surplus with the U.S. hit a record last year, as robust American demand for Chinese goods undercut the Trump administration’s tariff offensive aimed at narrowing the countries’ lopsided trade gap. China recorded $323.32 billion in surplus with the U.S. in 2018, representing a 17% jump from the figure in the previous year, according …

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Apple Lowers Revenue Forecast, Cites China Trade War

Business Insider reports: Apple CEO Tim Cook on Wednesday warned investors that the company expects to fall as much as $9 billion short of its earlier revenue target for the first fiscal quarter of 2019. In a rare guidance revision, Cook pointed to a struggling market in China as the biggest factor for the change. Cook added that “rising trade …

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Shutdown To Halt Disaster Relief, Aid To US Farmers

The Associated Press reports: The government shutdown could complicate things for farmers lining up for federal payments to ease the burden of President Donald Trump’s trade war with China. The USDA last week assured farmers that direct payments would keep going out during the first week of the shutdown. But payments will soon be suspended for farmers who haven’t certified …

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Tariff Man Announces Billions In Bailouts To Farmers

CBS News reports: U.S. President Donald Trump said on Monday he has authorized the second round of payments from a $12 billion aid package for farmers stung by the U.S. trade war with China, but did not specify an amount. The U.S. Department of Agriculture in July had authorized up to $12 billion in aid for farmers and ranchers hit …

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Stock Market Craters 500 Points To 14-Month Low

Reuters reports: U.S. stocks are skidding Monday as another day of big losses takes the market to its lowest level in more than a year. Retailers and technology stocks are sinking, and health insurers and hospitals are falling after a federal judge in Texas ruled that the 2010 Affordable Care Act is unconstitutional. Many experts expect the ruling will be …

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Stocks Crater After Trump’s “I Am Tariff Man” Tweet

The New York Times reports: Stocks fell on Tuesday, after President Trump sowed confusion over the status of a truce in the trade war between the United States and China, while the bond market, often considered a safe haven for investors, sent a stark warning about expectations for an economic slowdown. The S&P 500 dropped more than 3 percent, with …

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Trump Announces 90-Day Trade War Truce With China

ABC News reports: President Donald Trump is hitting pause in the escalating trade war with China after a meeting with President Xi Jinping. Just a day after Trump threatened to bludgeon China by doubling U.S. tariffs on $200 billion worth of goods, the White House said a planned increase from 10 percent to 25 percent on Jan. 1 will not …

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Trump Threatens Up To 25% Tariff On Apple Products

Slate reports: President Trump signaled in a Wall Street Journal interview that he is expecting to place tariffs on all Chinese imports, including potentially the iPhone and other Apple products, if negotiations at the upcoming G20 summit with President Xi Jinping fall through. “I can make it 10 percent and people could stand that very easily,” Trump said of price …

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Stock Market Rout Wipes Out All Gains For 2018

Axios reports: In trading this morning, the Dow, the S&P and Nasdaq all wiped out their gains for the year. Retail stocks were hit hard just two days before Black Friday, the biggest brick-and-mortar shopping event of the year. Many traditional retailers have reported strong sales growth quarter after quarter this year — Target reported today that sales surged 5.1% …

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Trump Blames Market Plunge On Midterms (It’s Tariffs)

Politico reports: President Donald Trump on Tuesday claimed that the stock market was taking a “little pause” amid anticipation for next week’s midterm elections. After rising more than 350 points Monday morning, the Dow Jones industrial average took a 566-point plunge before closing down after Bloomberg reported that the administration was readying to announce a fresh round of tariffs on …

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Dow Jones Plummets 1376 Points In Two Days

NBC News reports: Wall Street had another rough day on Thursday, with the tech-heavy Nasdaq index dipping into correction territory and the Dow Jones closing 548 points down after another day of market convulsions. Thursday’s market mayhem followed a global ricochet triggered the previous day when the Dow Jones tumbled by more than 800 points to its lowest level since …

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Ford Announces Layoffs, Tariffs Have Cost Them $1B

NBC News reports: Ford will be making cuts to its 70,000-strong white-collar workforce in a move it calls a “redesign” of its staff to be leaner, have fewer layers, and offer more decision-making power to employees, the company announced. The number of jobs that will be axed is unknown at this point. “A lot of the (reorganization) is about making …

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US And Canada Reach Last Minute NAFTA Deal

Bloomberg reports: U.S. President Donald Trump is set to sign a successor to the North American Free Trade Agreement that will make modest revisions to a deal he once called a “disaster,” easing uncertainty for companies reliant on tariff-free commerce. U.S. and Canadian negotiators worked around the clock this weekend to secure an agreement just before a Sunday midnight deadline, …

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Trump Threatens Unspecified Countries With Tariffs

Business Insider reports: President Donald Trump escalated his trade-war rhetoric on Monday, threatening unspecified countries with tariffs if they “will not make fair deals with us.” The US is already engaged in a trade war with China and is expected to levy new tariffs on $200 billion worth of Chinese goods as soon as Monday, on top of the tariffs …

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Trump Plans To Rebrand NAFTA Pact As “USMC”

The Hill reports: President Trump told donors that he hopes to rebrand the North American Free Trade Agreement (NAFTA) among the U.S., Mexico and Canada as the “USMC” pact, The Wall Street Journal reported Thursday. If the U.S. is unable to come to terms on a deal with Canada, Trump said he’s willing to drop the “C” from the new …

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Trump: Apple Prices May Rise Due To My Tariffs

Politico reports: President Donald Trump on Saturday warned that the prices of Apple products may climb as a result of a new round of proposed tariffs against China, and called on the technology giant to bolster production at home to avoid the consequences of an escalating trade war. The president on Friday threatened to impose tariffs on another $267 billion …

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Trump Threatens To “Terminate NAFTA Entirely”

The Daily Beast report: President Trump on Saturday threatened to exclude Canada from a new NAFTA deal and “terminate” the trade pact entirely if Congress gets involved in negotiations. He went on to warn Congress, which has authority over trade agreements, “not to interfere” or he will scrap NAFTA altogether. Under NAFTA rules, Trump can withdraw the U.S. from the …

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Ford Cancels China-Made Import Because Trump

Bloomberg News reports: Ford Motor Co. is canceling plans to import a new crossover model from a plant in China after President Donald Trump’s tariffs undermined the business case for bringing the vehicle to the U.S. market. Trump’s move to slap China-built autos with an additional 25 percent levy in July undermined the profitability of the Focus Active that Ford …

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Trump Explodes Over Leak To Canadian Press

The Hill reports: President Trump blasted the news media on Friday after apparently off-the-record comments he made about Canada were leaked, calling it another example of “dishonest reporting.” Trump’s attack on the media came only hours after The Toronto Sun reported that Trump privately said he wouldn’t compromise in regards to trade with Canada. It is unclear how The Sun …

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Trump Administration To Pay $4.7 Billion In Relief To US Farmers Hurt By Trump’s Stupid Trade War With China

NPR reports: The Department of Agriculture will pay $4.7 billion to farmers growing soybeans, cotton and other products hit by tariffs in the Trump administration’s hard-line trade war with China, announcing the first batch of payments from a $12 billion government aid package. Starting next Tuesday, the agency will take applications from farmers who produce corn, cotton, dairy, hogs, sorghum, …

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