wnol.info July 21 2018


Pro-GOP Business Lobbying Giant Goes to War With Trump Over Tariffs

July 21 2018, 08:06 | Alonzo Simpson

Francois Lenoir Reuters

EU is possibly as bad as China’ Trump attacks partners in new ‘unfair trade’ rant

Apart from China potentially cutting reserve requirements further this year, no other central bank is seen easing monetary policy, and the countries running current account deficits may have to hike rates further. And, as with all wars, it is more than likely that both sides will suffer.

The Australian dollar slumped almost 1 per cent overnight to a low of 73.1 as the greenback rose and amid ongoing trade tension.

THE QUOTE: "You saw some of the more tariff-sensitive stocks a little bit weaker on the opening", said JJ Kinahan, chief market strategist for TD Ameritrade. He has also stepped up attacks on the European Union via Twitter and at his public rallies. However, whether they buy circuit boards in the United States or overseas, the majority of the raw components still come from China.

In a commentary on Wednesday, China's official Xinhua news agency said China and Europe "should resist trade protectionism hand in hand". These reviews apply to all countries - not just China - and are conducted on a case-by-case basis.

While British factories kept up a steady pace of growth, fears of a full-blown global trade war and worries about stalled negotiations with Brussels on leaving the European Union knocked a gauge of confidence about the outlook down to a seven-month low.

In Beijing, Chinese Foreign Ministry spokesman Lu Kang said summit preparations were proceeding, and details would be announced in due course.

United States synth company Moog has warned that a 25% tariff on the import of Chinese goods brought in by President Trump could result in layoffs and the end of its instruments being made in the US.

Lovren's Croatia qualify for World Cup quarter-finals
Croatia's plan at the moment seems to be the following: Hold possession, get the ball into the wide areas, cross in for Mandzukic. Croatia are expected to make wholesale changes to their starting line up for their World Cup Round of 16 tie against Denmark .

Mr Tusk thinks the U.S. president's action on tariffs, pulling out of the global climate agreement and withdrawing from the Iran nuclear deal - an agreement Europeans say is vital to their security - is part of a pattern rather than isolated incidents.

Canada s retaliatory tariffs take effect Sunday against American products including Florida orange juice, ketchup and Kentucky bourbon. They have asked supporters to petition elected congressional representatives in North Carolina, the state where Moog's operations are located.

"Trump has split the West, and China is seeking to capitalize on that". "Trump only understands the language of power", one high-ranking European Union diplomat told Handelsblatt. Britain's FTSE 100 shed 1 percent to 7,562.

Several European auto makers already build their vehicles in the U.S., with the most recent example being the BMW X7, which will be exempt from tariff changes.

Jeff Schuster, the senior vice president of forecasting at LMC Automotive, told USA Today that a 25 percent tariff on the imports would probably cause prices for each vehicle to rise by about $4,000 to $5,000.

According to a report in the Financial Times, senior European Union officials are drawing up plans to discuss a deal between major vehicle exporters including Japan, South Korea and the USA, to cut tariffs on their movement globally.



Other news