China 

China thinks it can weather Trump’s trade storm. It can, but not for long. Likewise the US

When Donald Trump and Xi Jinping get together at the end of this week for their “extended meeting” on the fringes of the Osaka G20 summit, there will be little hope on either side for a peace deal to end the US-China trade war any time soon. For both leaders, domestic politics makes an early deal unlikely.But if the hopes for peace on either side are slight, so too are the fears of a protracted conflict that threatens to drag on into the next year. Policymakers in both Washington and…

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Global 

Front-loading not an option for US firms looking to avoid Trump’s looming tariffs on Chinese imports

Towards the end of 2018, before an American tariff increase on US$200 billion of Chinese goods that was expected to take place on January 1, “floating finishing factories” started popping up off the US West Coast, on which Chinese workers would frantically assemble goods on container ships at sea to get them through customs in time to beat the increased tariffs.As it turned out, the tariff increase was postponed after a meeting between US President Donald Trump and his Chinese counterpart Xi… Source link

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Global 

US economic outlook and Fed interest rate cut rest on Donald Trump’s meeting with Xi Jinping, analysts say

The outcome of next week’s meeting between Chinese President Xi Jinping and American counterpart Donald Trump at the G20 summit in Japan will play a major determining factor in the outlook for the economy in the United States and the prospects that the US Federal Reserve will cut interest rates in the next three to six months, analysts said.While the meeting is not expected to deliver a trade deal, Trump and Xi may break the current stalemate by agreeing to a tariff ceasefire as they did at… Source link

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China 

China and US negotiating teams scramble to make a plan for Xi Jinping and Donald Trump’s Osaka summit

US and Chinese trade negotiators are scrambling to put a plan together, as they look to ease trade tensions ahead of President Xi Jinping and his US counterpart Donald Trump’s meeting in Osaka next week.Negotiating teams – led by United States trade representative Robert Lighthizer and Treasury Secretary Steven Mnuchin on the US side and Vice-Premier Liu He on the Chinese side – are expected to meet in Osaka as early as Tuesday, three days before the start the G20 leaders’ summit, to prepare… Source link

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Home 

Will July Fourth cost more next year, if Trump’s 25 per cent tariff takes effect on Chinese fireworks?

“American Glory”, “The Spirit of Freedom” and “Big Booom!” may cost consumers in the United States a lot more in the near future.In an escalating trade war with Beijing, the Trump administration is preparing to place tariffs on about US$300 billion worth of Chinese-made goods, including fireworks sporting cheeky names such as “Devils Rejects” and “The Big Kahuna”. The 25 per cent tariffs could go into effect as soon as July, but after this year’s Independence Day celebrations in the US… Source link

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Global 

To fight Donald Trump’s China tariffs, hundreds of US companies descend on Washington

New Balance Athletics has long advocated for and benefited from tariffs, competing with Nike and other footwear companies while still making shoes in the US. Now, it is among the critics of US President Donald Trump’s duties testifying at a public hearing that started Monday.The Boston-based firm said while it supports Trump’s efforts to force China to address intellectual property theft in a trade deal, its US factories are supported by a global supply chain connected to China and built over… Source link

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Global 

Donald Trump’s G20 meeting with Xi Jinping in Osaka could again be a formal dinner, source says

A widely anticipated meeting between Chinese President Xi Jinping and US President Donald Trump at the end of June in Japan could be a formal face-to-face negotiation over dinner instead of a quick handshake and chat, a source who was briefed on the arrangement told the South China Morning Post.“It would be largely a replay of the summit in Argentina last December,” the source said.Neither Beijing or Washington have formally confirmed any plans or provided any details of the high-stakes meeting… Source link

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The Hong Kong maker of Transformers toys rushes to ship orders for the US holiday season to beat Trump’s tariffs

Hong Kong toymaker Jeffrey Lam Kin-fung is feeling the pressure from US President Donald Trump’s import tariffs, even though his products are not yet subject to any duties.His company, Forward Winsome Industries, a pioneer in the manufacture of rubber ducks, has been rushing to meet a spike in orders from American customers keen to stockpile products before they are hit by the next round of tariffs.On May 5, Trump said on Twitter that his administration would extend punitive 25 per cent duties… Source link

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Donald Trump’s tariffs are big, fat American snake oil meant to win re-election, not solve real problems

It has become clear that tariffs are the “snake oil” of salesman Donald Trump and his US administration. I am reminded of the endearingly eccentric father-in-law in the 2012 film My Big Fat Greek Wedding, who spent much of his time dispensing a spray of glass cleaner as a cure-all for every minor medical complaint. Except that the US president’s obsession with tariff snake oil is anything but endearing. Trump is now unsatisfied with a big, fat ugly trade war with China that looks set to… Source link

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Trump’s tariffs could nip South Carolina florist’s business – and his daughter’s Guangdong trip – in the bud

Mike Green, who sells artificial flowers made of fabric and plastic, is one of countless small American business owners caught up in a trade war that threatens not only their livelihoods, but deep friendships and ties built over years with Chinese business partners.Much of Green’s business at Palmetto Designs International in Spartanburg, South Carolina, depends on China, the biggest US source for artificial flowers by far. Manufacturers in Guangdong province make the polyester and other… Source link

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