Wall Street Journal (August 1)
“President Trump moved Thursday to extend tariffs to essentially all Chinese imports, escalating a trade conflict that is poised to hit U.S. consumers in the pocketbook and roiling financial markets…. Wall Street was rattled by the news.” The Dow Jones Industrial Average, S&P 500 and Nasdaq Composite all closed lower. “Oil prices sank almost 8%, their biggest drop since February 2015.”
Tags: China, Dow Jones, Financial markets, Imports, Nasdaq, Oil, Rattled, Tariffs, Trade conflict, Trump, U.S. consumers, Wall Street
CNBC (June 8)
U.S. President Donald Trump “is playing a risky game by weaponizing US economic power with tariffs…. What’s clear already is that friends and rivals are more interested than ever before in exploring alternatives to the U.S.-dominated system.” This won’t take place overnight, but “consistent overuse of U.S. economic power has made the unthinkable more plausible.”
Tags: Economic power, Plausible, Risky, Tariffs, Trump, U.S.-dominated system, Unthinkable, Weaponizing
South China Morning Post (June 3)
“US President Donald Trump’s trade wars have ‘progressed’ beyond the stage of simple tariff punches (painful though these can be) to attacks on the central nervous system of global technology trade networks—and that is going to be far more damaging to all concerned, including the US.”
Tags: Attacks, Damaging, Tariffs, Technology, Trade networks, Trade wars, Trump, US
CBS News (May 13)
“The U.S. imports far more Chinese goods than China imports from the U.S. So China can’t directly impose retaliatory tariffs equal to Mr. Trump’s…. The U.S. just doesn’t send enough goods to China.” China could, however, let the yuan weaken and this may prove their best response. “If the Chinese currency were to drop in value, it would make the country’s goods less expensive in foreign markets, propping up export demand and volume abroad.”
Tags: China, Currency, Export demand, Imports, Retaliatory, Tariffs, Trump, U.S., Weaken, Yuan
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
