Newsweek (May 13)
“China’s decision to raise tariffs on U.S. goods made its impact felt on Wall Street as stock markets began the week on a downbeat note. Both the Dow Jones Industrial Average and the S&P 500 index fell by more than 2 percent in early trading,” while the Nasdaq dropped even further. Market volatility “was directly linked to the escalating trade war between the U.S. and China…. The back-and-forth retaliation between the two superpowers wiped out the marginal gains stocks recorded at the end of last week.”
Tags: China, Dow Jones, Downbeat, Gains, Nasdaq, Retaliation, Stock market, Superpowers, Tariffs, Trade war, U.S., Volatility, Wall Street
Washington Post (May 9)
“It’s anyone guess what will come of the current meetings” to resolve the U.S./China trade dispute. “What should not be in doubt, however, is that throughout the entire bargaining process with Beijing, the administration has undercut its position by attempting to wage simultaneous tariff battles with other countries.” In addition to China, Mr. Trump’s tariffs now cover…7.3 percent of imports from Canada, 2.5 percent of imports from the European Union, 9.6 percent of imports from South Korea and 3.8 percent of imports from Japan,” undercutting support from natural allies in his dispute with China.
Tags: Allies, Canada, China, EU, Imports, Japan, South Korea, Tariffs, Trade dispute, Trump, U.S., Undercut
Bloomberg (May 7)
“The conventional wisdom that the Fed’s next move would be down and the trade spat with China would end just got dealt a one-two punch…. Federal Reserve Chair Jerome Powell pushed back against calls for a near-term rate cut and U.S. President Donald Trump threatened to ratchet up tariffs on imported Chinese goods.”
Tags: China, Conventional, Fed, Powell, Tariffs, Trade spat, Trump, U.S.
Washington Examiner (February 25)
“President Trump indefinitely postponed hiking tariffs on China” for one obvious reason. “Trump, or at least his advisers, seem to understand that progress on North Korea cannot be made without China’s support. And that support, of course, is unlikely to be born out of hostile trade disputes and demands to essentially rewrite China’s economic model, which the Trump administration has made clear are goals of trade negotiations with Beijing.”
Reuters (January 2)
“As U.S. and Chinese delegations prepare for upcoming trade talks in Beijing, the two countries’ disputes over tariffs and trade are rattling markets, businesses, governments, consumers and workers across the globe. All of this corrosive uncertainty was entirely predictable…. Elaborate negotiations take tenacity, expertise and planning. They also take time.”
Tags: Beijing, China, Corrosive, Delegations, Disputes, Expertise, Markets, Negotiations, Planning, Predictable, Rattling, Tariffs, Trade talks, U.S., Uncertainty
New York Times (September 25)
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.”
Tags: China, Consumer goods, Convenience, Dependable, Factory, Operations, Ports, Rail, Reliable, Roads, Source, Suppliers, Tariffs, Trump
Bloomberg (September 19)
“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.”
Tags: Companies, Consumers, Endure, Miscalculated, Suffering, Surrender, Tariffs, Trump, U.S., Willingness, Xi
Wall Street Journal (September 19)
“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)
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.”
Tags: Agriculture, Broadsided, China, Duties, Import, Imports, Manufacturing, Punitive, Relationships, Retail, Tariffs, Textiles, Trade, Trump, U.S.
Bloomberg (August 1)
“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.”
Tags: Auto rivals, Carnage, China, Detroit, Earnings, Estimates, Growth, Prius, Sales, Seoul, Tariffs, Toyota, Trade war, U.S.
