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New York Times (September 25)

2018/ 09/ 26 by jd in Global News

Companies are discovering that “quitting China is hard to do” as they look to shift operations to avoid Trump tariffs. “Few places can match China’s convenience and reliability.” Not only is China a near comprehensive source of “the ingredients that go into today’s consumer goods,” it also boasts “a dependable source of workers who know how to hold down factory jobs,” along with “reliable roads and rail lines connecting suppliers to assembly plants to ports.”

 

Bloomberg (September 19)

2018/ 09/ 21 by jd in Global News

“Trump has badly miscalculated Xi’s willingness to endure a lot of economic suffering to avoid surrender. Trump has also miscalculated who will be hurt by his tariffs; in many cases it will be American consumers and companies.”

 

Wall Street Journal (September 19)

2018/ 09/ 20 by jd in Global News

“If Mr. Trump wants to change Chinese behavior, he should first finish a new Nafta, drop his blunderbuss steel tariffs on allies, forget new auto tariffs, negotiate a zero tariff deal with Europe, and re-enter the Trans-Pacific Partnership.” Then he could “lead a coalition to confront Xi Jinping from a position of strength with targeted trade enforcement rather than scattershot tariffs. The real worry is that Mr. Trump supports tariffs for their own sake, and he may not want a China deal. With Donald Trump and trade, you never know.”

 

Straits Times (September 18)

2018/ 09/ 19 by jd in Global News

On Monday,  Donald Trump “effectively broadsided one of the world’s largest trade relationships, announcing plans to proceed with tariffs on another US$200 billion in US imports of Chinese goods.” Combined with previous tariffs, “this means roughly half of everything Americans buy from China…is now subject to punitive import duties. Whole industrial sectors stand to feel the effects, including agriculture, manufacturing, textiles and retail.”

 

Bloomberg (August 1)

2018/ 08/ 02 by jd in Global News

“After earnings carnage at global auto rivals,” Toyota is in the “spotlight.” From Detroit to Seoul, Toyota’s global rivals “fell short of estimates and warned of more pain from the trade war.” In contrast, “the world’s most valuable automaker will likely report modest sales and earnings growth for the most recent quarter.” But going forward the automaker still “faces a fight on every front. Potential U.S. tariffs threaten to cripple demand in its biggest market, rivals continue to pull ahead in China, and at home, the top-selling Prius is suffering a slump in popularity.”

 

Wall Street Journal (July 26)

2018/ 07/ 27 by jd in Global News

“The Trump administration is on the verge of launching a global trade war, the magnitude of which the world hasn’t seen in a century….If all the threatened Trump tariffs take effect, and the targeted countries respond with the expected retaliatory tariffs on American exports, everyone will lose.”

 

Wall Street Journal (July 18)

2018/ 07/ 20 by jd in Global News

To “counter U.S. protectionism, the EU and China are drawing closer together.” While the EU remains at odds with China on certain trade issues, Trump’s tariffs have helped to paint China in a better light globally. “China has increasingly used the mounting trade spats to portray itself as a protector of the rules-based international order, while chastising the U.S. for disrupting global commerce…. China’s engagement with the EU is driven by its desire to keep open world markets that its manufacturers need to thrive.”

 

South China Morning Post (July 6)

2018/ 07/ 08 by jd in Global News

As the U.S. and China begin to “spar over trade, Japan may avoid a direct hit – for now.” While the first round of tariffs is “expected to have limited impact,” the dispute “could lead to further appreciation of yen and punitive duties on Japanese cars” if it continues to spiral out of control.

 

CNN (July 2)

2018/ 07/ 04 by jd in Global News

“Every US-made car is an import,” which means US automakers could get stung bad by tariffs. According to a measure used by regulators, “the two most ‘American’ cars are both Hondas—the Odyssey minivan and Ridgeline pickup,” each of which boast about 75% of components made in the US or Canada. “The Honda Civic, Acura MDX, Acura TLX and the Mercedes C-class source 70% from the United States and Canada. The highest-ranked car made by a Detroit automaker is the Chevrolet Corvette, which placed seventh” at about 65%. GM has already warned that “tariffs could force the company to cut jobs at US plants due to an expected drop in sales associated with higher prices.”

 

Wall Street Journal (June 21)

2018/ 06/ 24 by jd in Global News

Investors aren’t quite sure “how to trade a trade war.” Some obvious stocks like Boeing and Caterpillar are being hit hard, but for many others there’s a lack of information on the potential impact, “partly because supply chains are so complex.” While there’s much to “suggest that trade war fears haven’t sunk in properly,” the bigger issue is that it is challenging “to price in something you don’t understand, and the implications of a trade battle are obscure, at best.” We don’t know “precisely which products will be targeted in the next round, or how long the tariffs will last.”

 

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