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Post by Admin on Dec 26, 2018 17:55:59 GMT
Dow Jones rallies after dismal Christmas Eve trading session, closing up 5% and more than 1,000 points. Markets are gearing up for a wild ride to end the year on Wednesday, December 26, as the market selloff that began weeks ago has accelerated in recent sessions to wipe out all of the gains markets have made over the previous 12 months. The S&P 500 fell into bear market territory Monday after falling nearly 3% and is down 12% year to date. The Dow Jones Industrial Average and Nasdaq are also both down double digits year to date. The Dow jumped 2.1%, or 460 points to 22,250, while the S&P 500 gained 2.1%. The Nasdaq jumped 2.8%. Turmoil in Washington D.C. is not helping matters with the government engaged in a partial shutdown as President Trump pushes for funding for his border wall amid opposition by congressional Democrats.
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Post by Admin on Feb 14, 2019 17:27:19 GMT
A UN trade official has warned a US plan to raise tariffs on Chinese goods next month would have "massive" implications for the global economy. The US plans to increase tariffs on Chinese goods if the two sides fail to make progress on a trade deal by 1 March. The comments followed a report by a UN trade agency on the impact of the US-China trade war. It said Asian countries are likely to suffer most from protectionism. The US and China are locked in a damaging trade dispute that has seen both sides levy tariffs on billions of dollars worth of one another's goods.
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Post by Admin on May 8, 2019 17:34:44 GMT
The US and China have moved to within 36 hours of a full-scale trade war after Washington published a list of imported products that will face higher tariffs from Friday. In a clear sign of Washington’s hardline approach in talks with Beijing, the US trade representative’s office filed the formal paperwork needed to increase duties on $200bn (£153bn) of Chinese goods from 10% to 25% later this week. Donald Trump held out the prospect that China would make concessions at an 11th-hour meeting in Washington but financial markets – unsettled by the most serious threat of protectionism since the 1930s – were downbeat about a breakthrough. China has threatened to retaliate against any step up in US action.
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Post by Admin on May 9, 2019 17:28:07 GMT
DONALD Trump wiped nearly $1.5 TRILLION off global markets with a single Twitter blast vowing to double tariffs on Chinese goods after they "broke" a crucial trade deal. The US president renewed hostilities between the two economic giants by threatening to once more ramp up the cost of Beijing trading in the US. He pledged to hike tariffs on $200 billion of Chinese goods from Friday - rocking equity markets across the world.
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Post by Admin on May 25, 2019 18:02:07 GMT
In June 2016, presidential candidate Donald Trump stood between bales of crushed aluminum and a crowd of supporters in a factory outside of Pittsburgh and made a promise on trade that wasn’t hard to keep. “If China does not stop its illegal activities, including its theft of American trade secrets, I will use every lawful -- this is very easy. This is so easy. I love saying this,” he told workers at the recycling firm Alumisource, a former steel plant in Monessen, Pennsylvania. “I will use every lawful presidential power to remedy trade disputes.” Three years later, he has clearly delivered on the pledge. Trump’s tariff-driven attack against the world’s No. 2 economy has shown that expanding trade powers has indeed been the easy part. But as events this week show, winning a trade war against China -- which Trump once tweeted would also be “easy” -- looks increasingly like a more difficult and protracted endeavor than anticipated, with Beijing now showing more signs of digging in than capitulating. Trump’s hawks have been arguing ever since the president took office that the only way to get China to make meaningful changes to what some openly call a “deviant economic model” is to continue punching it in the nose until you force surrender. Yet the big question looming now is whether that belligerent approach may be backfiring with daunting consequences for the global economy.
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