Showing posts with label Trump Tariffs. Show all posts
Showing posts with label Trump Tariffs. Show all posts
9/15/18
China-Russia, a new World Order? : What will keep China and Russia from building a new world order?
Russia's geopolitical show in eastern Siberia this week with special guest China combined a dramatic display of military hardware with diplomatic trappings, summit pageantry and an executive-level cooking show.
In two separate events - the Eastern Economic Forum (EEF) being held in Vladivostok and the Vostok (East) 2018 military games - Russia and China signaled to the West that they are working closer together to counterbalance US "unilateralism."
Read more: Russia and China to reduce use of US dollar in trade
The American tariff showdown with China and continued sanctions on Russia have pushed Beijing and Moscow closer together. And US President Donald Trump's protectionist course for the US also gives Chinese and Russian presidents, Xi Jinping and Vladimir Putin, the chance to portray themselves as heroes of bilateral cooperation and globalization.
Ahead of this week's events, China's ambassador to Russia, Li Hui, told China's official Xinhua news agency that Sino-Russian relations were at their "best in history." The report also touted Chinese President Xi as a proponent of regional cooperation amid "anti-globalism and protectionist trends," while ushering in a new age of diplomacy with Russia.
What will keep China and Russia from building a new world order? | Asia| An in-depth look at news from across the continent | DW | 14.09.2018
In two separate events - the Eastern Economic Forum (EEF) being held in Vladivostok and the Vostok (East) 2018 military games - Russia and China signaled to the West that they are working closer together to counterbalance US "unilateralism."
Read more: Russia and China to reduce use of US dollar in trade
The American tariff showdown with China and continued sanctions on Russia have pushed Beijing and Moscow closer together. And US President Donald Trump's protectionist course for the US also gives Chinese and Russian presidents, Xi Jinping and Vladimir Putin, the chance to portray themselves as heroes of bilateral cooperation and globalization.
Ahead of this week's events, China's ambassador to Russia, Li Hui, told China's official Xinhua news agency that Sino-Russian relations were at their "best in history." The report also touted Chinese President Xi as a proponent of regional cooperation amid "anti-globalism and protectionist trends," while ushering in a new age of diplomacy with Russia.
What will keep China and Russia from building a new world order? | Asia| An in-depth look at news from across the continent | DW | 14.09.2018
8/5/18
EU economic growth forecast reduced as a result of Trump tariffs
The European Commission on Thursday cut its forecasts for the
eurozone's economic growth this year, citing among the top causes for
its revision trade tensions with the United States, as well as rising
oil prices, which are expected to push the bloc's inflation higher.
The slowdown of the eurozone economy is set to affect all major economies of the bloc, but is expected to hit Italy harder, as the country is forecast to record the lowest growth rate in Europe, matched only by Britain among all 28 EU countries.
The EU executive estimated the 19-country eurozone will grow by 2.1 percent this year, lower than the 2.3 percent gross domestic product (GDP) increase it had forecast in its previous estimates released in May, and below the 2.4 percent growth recorded last year.
In 2019, the bloc's growth should slow to 2.0 percent, unchanged from the previous forecast.
But what do these forecasts — and changes in forecasts — actually mean?
To get a sense of how forecasts can differ from actual results, see the charts. The first shows how GDP actually changed (light blue) and how it was forecast by the Commission to change (blue-and-black hatched bars) in 2017 compared to the previous year. The second chart, further below, compares actual and forecast changes in the consumer price inflation for 2017 compared to 2016.
The take-home message here is that the forecasts the Commission is currently making about next year's GDP or inflation numbers will likewise prove, in retrospect, to be wrong. Nonetheless, the forecasts are useful as a snapshot of Commission economists' perceptions of current trends, reflected in available economic data as these are processed in their economic models.
Read more: EU economic growth forecast reduced | Business| Economy and finance news from a German perspective | DW | 12.07.2018
The slowdown of the eurozone economy is set to affect all major economies of the bloc, but is expected to hit Italy harder, as the country is forecast to record the lowest growth rate in Europe, matched only by Britain among all 28 EU countries.
The EU executive estimated the 19-country eurozone will grow by 2.1 percent this year, lower than the 2.3 percent gross domestic product (GDP) increase it had forecast in its previous estimates released in May, and below the 2.4 percent growth recorded last year.
In 2019, the bloc's growth should slow to 2.0 percent, unchanged from the previous forecast.
But what do these forecasts — and changes in forecasts — actually mean?
To get a sense of how forecasts can differ from actual results, see the charts. The first shows how GDP actually changed (light blue) and how it was forecast by the Commission to change (blue-and-black hatched bars) in 2017 compared to the previous year. The second chart, further below, compares actual and forecast changes in the consumer price inflation for 2017 compared to 2016.
The take-home message here is that the forecasts the Commission is currently making about next year's GDP or inflation numbers will likewise prove, in retrospect, to be wrong. Nonetheless, the forecasts are useful as a snapshot of Commission economists' perceptions of current trends, reflected in available economic data as these are processed in their economic models.
Read more: EU economic growth forecast reduced | Business| Economy and finance news from a German perspective | DW | 12.07.2018
7/9/18
Italy: Trump Tariffs - Italy retaliates, as Italy says it won't buy any more F-35's from the US
Italy says it won't buy more F-35 fighter jets, and may even cut its current order
Read more at:
7/6/18
China - EU relations: China fears EU might stap them in the back as trade conflict escalates
China fears Europe will ‘stab it in the back’ as trade conflict with U.S. escalates
For the complete report go to;
http://flip.it/w1hQK7
http://flip.it/w1hQK7
7/3/18
China - US relations: Trade War Kicks off this week
China says "fully prepared" if trade war kicks off this week
For the complete report go to:
6/29/18
USA: Tariffs on foreign cars - Trump auto tariffs may cost hundreds of thousands of U.S. jobs
President Donald Trump's threat to slap heavy tariffs on imported cars and parts
may cost hundreds of thousands of American jobs and raise auto prices
in the U.S. by roughly 10 percent. That's according to analyses from
economists, industry groups, lawmakers and carmakers ahead of a June 29
deadline to submit comments to the U.S. Commerce Department.
Indeed, General Motors Co. warned on Friday that the tariffs being considered by the Trump administration could lead to a "a smaller GM" and risks isolating U.S. businesses from the global market, Reuters reported.
The largest U.S. automaker, with around 180,000 employees, said in its comments to the Commerce Department that the tariffs could "lead to a smaller GM, a reduced presence at home and abroad for this iconic American company, and risk less -- not more -- U.S. jobs."
In May, the Trump administration floated a 25 percent tariff on auto imports, framing the national security measure to ensure the vitality of key U.S. industries. Last week, Mr. Trump proposed a 20 percent tariff on all auto imports from Europe, before he gets the results of an investigation initiated last month by his own Commerce Department.
Here are the latest estimates on both job losses and costs:
A 20 percent tariff on EU auto imports may cost 100,000 U.S. jobs in 2019 alone, economists at Oxford Economics forecast in a June 28 note.
Read more: Trump auto tariffs may cost hundreds of thousands of U.S. jobs - CBS News
Indeed, General Motors Co. warned on Friday that the tariffs being considered by the Trump administration could lead to a "a smaller GM" and risks isolating U.S. businesses from the global market, Reuters reported.
The largest U.S. automaker, with around 180,000 employees, said in its comments to the Commerce Department that the tariffs could "lead to a smaller GM, a reduced presence at home and abroad for this iconic American company, and risk less -- not more -- U.S. jobs."
In May, the Trump administration floated a 25 percent tariff on auto imports, framing the national security measure to ensure the vitality of key U.S. industries. Last week, Mr. Trump proposed a 20 percent tariff on all auto imports from Europe, before he gets the results of an investigation initiated last month by his own Commerce Department.
Here are the latest estimates on both job losses and costs:
A 20 percent tariff on EU auto imports may cost 100,000 U.S. jobs in 2019 alone, economists at Oxford Economics forecast in a June 28 note.
Read more: Trump auto tariffs may cost hundreds of thousands of U.S. jobs - CBS News
6/25/18
EU and China meet and discuss ways of dealing with Trump’s tough trade tariffs
China and the European Union are seeking ways to confront US President
Donald Trump’s belligerence on trade during a high-level dialogue today Monday, June 24th, in addition to settling their differences on
investment restrictions.
Read more: EU and China to meet and discuss ways of dealing with Trump’s tough trade tariffs | South China Morning Post
“The elephant in the room is Trump and his view
on the global trade order. This issue will eclipse everything else,”
said Jan Weidenfeld, analyst of Europe-China relations at the Mercator
Institute for China Studies. “Both sides are under pressure to avoid a
public spat, which would dilute their ability to signal to the Americans
that they’re not happy.
“We are there – we are having a very frank
conversation now, and we would be having a much franker discussion if we
didn’t have all the trouble with the US administration.”
“China and Europe are facing the common challenge of US actions in trade
and multilateral institutions, which gives them more room to
cooperate,” said Cui Hongjian, director of the Department for European
Studies at the China Institute of International Studies.
Read more: EU and China to meet and discuss ways of dealing with Trump’s tough trade tariffs | South China Morning Post
6/22/18
EU-US Relations: Trump Tariffs: Europe hits back at Trump's tariffs as global tensions mount
The EU, the world's largest trading bloc, imposed levies on 2.8 billion euros (S$4.4 billion) of American products in response to US duties on its steel and aluminum exports that were justified on national security grounds.
"We did everything we could to avoid this situation, but now we have no choice but to respond,'' said EU Trade Commissioner Cecilia Malmstrom. "It is frankly ridiculous that EU steel is considered a threat to US national security. As longstanding allies of the US, we were disappointed, but not surprised.''
The European reaction opens up another front in Washington's battle to reshape its commercial relationship with the world. President Donald Trump has levies on US$250 billion of Chinese goods in the pipeline and already placed duties on products from allies including Canada, Mexico and Japan..
Note EU-Digest: Maybe the time has come for Europe to start playing some "hardball" with Trump, and suggest to him it will stop buying military equipment from the US, that it wants to review NATO antiquated policies, its global strategies, and the need for European nations to participate, and pay for controversial US controlled missions around the world. Most of which have resulted in failure, and a large influx of refugees into the EU and Turkey.
Read more: Europe hits back at Trump's tariffs as global tensions mount, Government & Economy - THE BUSINESS TIMES
6/21/18
Trump Tariffs: Escalation of trade tensions as India now imposes retaliatory tariffs on US
India imposes retaliatory tariffs, escalating U.S. trade tensions
Read more at :
6/20/18
EU to launch counter-tariffs against US on Friday
The European Union will launch a raft of retaliatory tariffs against US exports on Friday, a top official has said.
American exports such as blue jeans, motorbikes and bourbon whiskey will be targeted, trade commissioner Cecilia Malmstrom confirmed.
However, she said the bloc "did not want to be in this position".
"The unilateral and unjustified decision of the US to impose steel and aluminium tariffs on the EU means that we are left with no other choice," she said.
Read more: EU to launch counter-tariffs against US on Friday - BBC News
6/15/18
EU nations back retaliating against U.S. steel tariffs - by Philip Blenkinsop
European Union countries on Thursday unanimously backed a plan to
impose import duties on 2.8 billion euros ($3.3 billion) worth of U.S.
products after Washington hit EU steel and aluminum with tariffs at the
start of June, EU sources said.
The European Commission has also launched a legal challenge against the U.S. tariffs at the World Trade Organization. In addition, it is assessing the need for measures to prevent a surge of imports of steel and aluminum into Europe as non-EU exporters divert product initially bound for the United States.
Read more" EU nations back retaliating against U.S. steel tariffs | Reuters
The European Commission has also launched a legal challenge against the U.S. tariffs at the World Trade Organization. In addition, it is assessing the need for measures to prevent a surge of imports of steel and aluminum into Europe as non-EU exporters divert product initially bound for the United States.
Read more" EU nations back retaliating against U.S. steel tariffs | Reuters
China-US relations: Escalating U.S.-China trade spat comes at a bad time for global growth, economist says - by William Watts
The escalating trade spat between the U.S. and China comes at an inconvenient time for the global economy.
The resilience of China’s economy in early 2018 has been an important buffer for global growth in the face of mounting headwinds, noted Louis Kujis, head of Asia economics for Oxford Economics, in a Friday note.
But the economy is showing signs of a broad slowdown after downbeat May economic data, which Kujis expects to continue, braking growth from a pace of 6.8% year-over-year in the first quarter to 6.2% by the fourth quarter.
China’s economy was set to slow without the trade dispute and policy makers were already less likely to respond with the type of stimulus they have implemented in the past to the benefit of the domestic and global economy. The rising trade tensions only amplify the prospects of a slowdown, albeit at the margins.
“While the economic impact of the U.S. tariffs and ensuing retaliation by China will be modest, it does matter,” Kujis wrote. Assuming broadly one-for-one retaliation, Oxford Economics’s economic model suggests the trade actions will shave 0.1 to 0.2 percentage point off growth in 2018 and 2019 for both countries, he said, noting that the impact has already been incorporated into the firm’s forecasts.
Read more: Escalating U.S.-China trade spat comes at a bad time for global growth, economist says - MarketWatch
The resilience of China’s economy in early 2018 has been an important buffer for global growth in the face of mounting headwinds, noted Louis Kujis, head of Asia economics for Oxford Economics, in a Friday note.
But the economy is showing signs of a broad slowdown after downbeat May economic data, which Kujis expects to continue, braking growth from a pace of 6.8% year-over-year in the first quarter to 6.2% by the fourth quarter.
China’s economy was set to slow without the trade dispute and policy makers were already less likely to respond with the type of stimulus they have implemented in the past to the benefit of the domestic and global economy. The rising trade tensions only amplify the prospects of a slowdown, albeit at the margins.
“While the economic impact of the U.S. tariffs and ensuing retaliation by China will be modest, it does matter,” Kujis wrote. Assuming broadly one-for-one retaliation, Oxford Economics’s economic model suggests the trade actions will shave 0.1 to 0.2 percentage point off growth in 2018 and 2019 for both countries, he said, noting that the impact has already been incorporated into the firm’s forecasts.
Read more: Escalating U.S.-China trade spat comes at a bad time for global growth, economist says - MarketWatch
6/13/18
EU-US Relations - Trade Tariffs: Maine will be among hardest-hit states if EU retaliates against Trump's tariffs - by Steve Collins
 | ||||
| Augusta, ME's State capital, also ranked by WalletHub as one of America's saddest cities |
The report found that 9.5 percent of Maine’s exports to Europe would be slapped with retaliatory tariffs if the Trump administration declines to grant an exemption to EU countries exporting metal to the U.S. The state average was roughly 3 percent of exports.
The proposed new tariffs against American products would affect about $39 million worth of Maine exports to the EU, Brookings found, out of a total of $405 million last year
.
The Europeans are considering possible tariffs on everything from cranberries to T-shirts. It’s not clear from the report exactly what Maine industries might take a hit.
It also isn’t certain whether the administration will offer exemptions for European steel and aluminum. If it refuses, the EU has said it will impose new tariffs on American products in response, a first step in what could become a trade war.
The impact of higher prices on
American products might be fewer export sales of targeted U.S. goods
such as rear-view mirrors, sweet corn and whiskey.
“I share the president’s belief that there have been many poorly negotiated trade agreements that have harmed manufacturing jobs in Maine and across our country,” she said in a prepared statement recently. “In the northern half of our state in particular, we have seen many pulp and paper mills close within the last five years, putting thousands of Mainers out of work through no fault of their own.”
“Addressing unfair trade practices, however, requires a careful approach in order to avoid triggering retaliation from other countries,” Collins said. “These tariffs could very well produce the opposite effect of what the president is trying to achieve, inadvertently causing further harm to American jobs and increasing the prices of consumer goods.”
She urged Trump “to work with Congress and our allies to address anti-competitive behaviors in order to protect our manufacturing industry and promote economic growth.”
Brookings is a century-old policy research think tank in the nation’s capital that issues studies on many issues facing the nation.
6/7/18
6/3/18
5/1/18
US Trump Tariffs: Germany expects permanent US tariffs exemption
Germany expects “a permanent exemption” rather than a temporary respite from US steel and aluminum tariffs for the EU. “Neither the European Union nor the United States can have an interest in an escalation (in tensions) in trade relations,”
a spokeswoman for Chancellor Angela Merkel said. I
In March US President Donald Trump imposed tariffs of 25 percent on steel imports and 10 percent on aluminum. However, the decision was taken to delay the imposition of steel and aluminum tariffs on EU and others, including Canada and Mexico until June 1, as confirmed by the White House on Monday.
Trump had also reached agreements for permanent exemptions for Argentina, Australia and Brazil.
Read more: Germany expects permanent US tariffs exemption — RT Newsline
In March US President Donald Trump imposed tariffs of 25 percent on steel imports and 10 percent on aluminum. However, the decision was taken to delay the imposition of steel and aluminum tariffs on EU and others, including Canada and Mexico until June 1, as confirmed by the White House on Monday.
Trump had also reached agreements for permanent exemptions for Argentina, Australia and Brazil.
Read more: Germany expects permanent US tariffs exemption — RT Newsline
4/28/18
USA: Trump Tariffs: EU ready to hit back if Trump presses ahead - by Charles Riley and Alanna Petroff
The leader of Europe's largest economy will lobby Trump for a reprieve
during a brief working stop at the White House on Friday.
The same
appeal was made earlier this week by French President Emmanuel Macron,
who failed to secure concessions on trade during a high profile visit
and state dinner.
Observers say there is little chance of a
breakthrough before tariffs on steel and aluminum imports from the EU
take effect on May 1. After announcing the tariffs in early March, the
United States granted a number of temporary exemptions, including to the
European Union.
"We continue to be in constant contact with the US administration," a spokesperson for the European Commission said this week. "We expect a permanent and unconditional exemption from the US tariffs."
If it doesn't get want it wants, the European Union stands ready to retaliate. It has already published a list of hundreds of American products that it could target if Trump moves forward with the tariffs. The list runs to 10 pages and includes US cigarettes, sweetcorn, ovens, sailboats, lipstick and stainless steel sinks.
The response from Europe could come within days.
"Our expectation remains to be exempted, but we are ready if necessary," said the Commission spokesperson.
US exports worth €6.4 billion ($7.8 billion) are in the firing line. That's roughly equal to the value of steel and aluminum shipped each year from the European Union to the United States.
The worry is that the spat won't stop there. Trump has threatened to respond to any new EU trade barriers with a tax on vehicles made by European carmakers.
Read more: Tariffs: EU ready to hit back if Trump presses ahead
4/17/18
EU-USA Relations: EU drags US to WTO over steel, aluminum tariffs
 |
| EU-US Relations turn sour |
The move comes despite US President Donald Trump temporarily exempting the 28-nation bloc from the tariffs that have threatened to trigger a trade war.
The EU made following statement in reference to their WTO complaint
- The EU rejects the "national security" justification for the US tariffs and believes they have been imposed just to protect US industry.
- It wants to hold consultations with the US as soon as possible.
- The aim of the discussions would be to "exchange views and seek clarification regarding the proposed measures."
Read more: EU drags US to WTO over steel, aluminum tariffs | News | DW | 16.04.2018
3/20/18
Trump Tariffs: China reacts to Trump's tariffs by vowing to open its markets further - Simon Denyer
China responded to the threat of new tariffs from the United States
by vowing Tuesday to further open its own markets to foreign trade and
investment, while warning that a trade war between the two nations would
hurt both sides.
President Trump is preparing to impose a package of $60 billion in annual tariffs against Chinese products, a move that he says will punish China for intellectual property theft and create more U.S. jobs, administration officials say. He is determined to bring down the U.S. trade deficit with China, which reached $375 billion last year.
But China’s premier, Li Keqiang, said the issue should be solved through dialogue and negotiation.
“No one will emerge a winner from a trade war,” Li told a news conference at the conclusion of China’s annual parliamentary session. “What we hope is for us to act rationally instead of being led by emotions.”
Read more: China reacts to Trump's tariffs by vowing to open its markets further - The Washington Post
President Trump is preparing to impose a package of $60 billion in annual tariffs against Chinese products, a move that he says will punish China for intellectual property theft and create more U.S. jobs, administration officials say. He is determined to bring down the U.S. trade deficit with China, which reached $375 billion last year.
But China’s premier, Li Keqiang, said the issue should be solved through dialogue and negotiation.
“No one will emerge a winner from a trade war,” Li told a news conference at the conclusion of China’s annual parliamentary session. “What we hope is for us to act rationally instead of being led by emotions.”
Read more: China reacts to Trump's tariffs by vowing to open its markets further - The Washington Post
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