Global 

Donald Trump’s ‘real threat’ of Vietnam tariffs sends ripples of anxiety through Southeast Asian nation

Steven Yang had been considering moving his mattress factory from China’s manufacturing heartland of Guangdong to Vietnam for some years, because despite increasing the salary of his 50 workers every year, his staff kept leaving.Yang’s company, Foshan Jietai Furniture, exports to the United States, European Union, Canada, Hong Kong, Australia and other parts of Asia. He had been focused on increasing his exports to America, but these plans were devastated when US President Donald Trump imposed… Source link

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Money 

China’s exporters will be forced to downsize, cut jobs, relocate if Trump follows through with tariff threat

Traditional export manufacturers in China’s Pearl and Yangtze River Delta regions already struggling under the weight of existing tariffs levied by the Trump administration expect the new tariffs on US$300 billion of Chinese imports to cause their businesses to shrink, force them to lay off workers, and for some, speed up relocation plans.Fears run deep that the trade war between China and the United States will last for several years, with tariffs truces like the one agreed between President… Source link

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Global 

Donald Trump hints at more trade aid as US farmers suffer ‘body blow’ from Chinese retaliation to tariff threat

US President Donald Trump said he is prepared to deliver more aid to farmers hurt by the trade war with China, but concerns are growing that the US agriculture industry could suffer a long-term loss of market share as other countries rush in to fill Chinese orders.The nation’s leading farm group on Monday called China’s decision to halt imports of US agricultural products “a body blow” to the nation’s farmers, a crucial constituency for Trump.As they have learned in the last two years, our… Source link

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Money 

China’s yuan weakens below 7 to the US dollar as Donald Trump’s tariff threat weighs heavy

China’s yuan exchange rate weakened below the psychologically important level of 7 to the US dollar in both onshore and offshore markets on Monday, with the country’s central bank saying the drop was caused by “expectations of more tariffs on China”.It is the first time that the yuan has dropped below the level since offshore trading started in Hong Kong in 2010, and the lowest in the onshore market since April 2008, signalling the possibility of a currency war with the United States.The drop… Source link

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Home 

Offshore yuan slides towards record low after Trump tariff threat

China’s offshore yuan fell to its lowest in eight months on Friday and was close to a record low after US President Donald Trump’s threat to impose new tariffs on Chinese imports.The surprise threat, raising the prospect of all imports into the United States from China being hit with tariffs, also sent investors scrambling for the safe-haven yen, lifting it to a 16-month high against the dollar.Trump said that a 10 per cent tariff would be imposed on US$300 billion worth of Chinese goods on… Source link

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China 

China’s sanctions threat against US firms after Taiwan arms deal casts shadow over Gulfstream’s ‘optimism’

The threat of Chinese sanctions against firms from the United States over arms sales to Taiwan may cast a shadow over Gulfstream’s “optimism in the region”, according to a lawyer whose company has advised the business jet giant.General Dynamics, and its subsidiary Gulfstream Aerospace, as well as Honeywell and Oshkosh Corporation, were named in an article posted an article on the official WeChat channels of both the People’s Daily and state broadcaster CCTV on Sunday, criticising their… Source link

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Home 

Stocks Blog: Investors brace for fallout from latest trade threat by US president Donald Trump

Good day, traders — US president Donald Trump shared a lot of thoughts overnight about China and trade. The key point was, “We have a long way to go as far as tariffs where China is concerned, if we want. We have another $325 billion we can put a tariff on, if we want,” Trump said at a Cabinet meeting. “So, we’re talking to China about a deal, but I wish they didn’t break the deal that we had.” Markets, not surprisingly, fell.  We’ll be watching markets in mainland China…

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US defence giant Honeywell distances itself from Taiwan under threat of China sanctions over arms deal

After China’s state media named several US firms allegedly threatened by sanctions over arms sales to Taiwan, American aerospace and defence giant Honeywell has said it had “no input” into the agreement between Washington and Taipei.Both the People’s Daily and state broadcaster CCTV posted an article on their official WeChat channels on Sunday criticising Honeywell, Oshkosh Corporation, General Dynamics and its subsidiary Gulfstream Aerospace, for their involvement in the sale of tanks and… Source link

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Demand for Hong Kong’s luxury homes slips as trade war, threat of extradition bill rattle wealthy investors

The double whammy of the US-China trade war and the threat of a controversial extradition bill that led to weeks of mass rallies in Hong Kong has hit demand for the city’s ultra-luxury homes, new figures show.Property consultancy Savills said enquiries about homes priced between HK$40,000 (US$5,111) and HK$100,000 per square foot fell in the second quarter of the year, leading to a 1.5 per cent slide in prices of town houses, whose size typically ranges from 2,000 to 4,000 square feet.It was… Source link

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