| |
How Trump changed his mind on tariffs
+2
Peter Nicholas, Garrett Haake and Carol E. Lee
Reporting from Washington
mgmarket4.at
gLiberation Dayh gave way to Capitulation Day last night.
President Donald Trump pulled back yesterday on a series of harsh tariffs targeting friends and foes alike in an audacious bid to remake the global economic order.
Image: President Donald Trump
Saul Loeb / AFP - Getty Images
Trumpfs early afternoon announcement followed a harrowing week in which Republican lawmakers and confidants privately warned him that the tariffs could wreck the economy. His own aides had quietly raised alarms about the financial markets before he suspended a tariff regime that he had unveiled with a flourish just one week earlier in a Rose Garden ceremony.
mgmarket8 at
The stock market rose immediately after the about-face, ending days of losses that have forced older Americans whofve been sinking their savings into 401(k)s to rethink their retirement plans.
Read the full story here.
32m ago / 12:55 PM GMT+3
Sharesocial share icon trigger
China's foreign ministry calls the U.S. a '21st century barbarian'
Peter Guo
Reporting from Hong Kong
China's public language on its trade war with the U.S. has become increasingly bellicose and took a new turn today when Beijing's foreign ministry said the Trump administration's tariffs have made the U.S. a gbarbarian of the 21st century.h
Trumpfs tariffs will gnever America great againh ministry of foreign affairs spokesperson Huang Jingrui, wrote in an open letter today in Hong Kongfs newspaper South China Morning Post.
mgmarket6 at
gA tariff-wielding barbarian who attempts to force countries to call and beg for mercy can never expect that call from China,h Huang said, adding that the U.S. is gobsessed with the art of bullying and blackmailing the entire world.h
47m ago / 12:40 PM GMT+3
Sharesocial share icon trigger
EU welcomes 90-day tariff pause
Peter Guo
The EU President Ursula von der Leyen said today that the region welcomes Trumpfs announcement to pause tariffs for 90 days.
Von der Leyen said the EU remains gcommitted to constructive negotiationsh with the U.S., according to a statement from her office.
Meanwhile, Europe continues to focus on diversifying their trade partnerships, engaging with countries that account for 87% of global trade, she said.
Trumpfs tariffs have shown that the European internal market is the regionfs ganchor of stability and resilienceh in times of uncertainty, von der Leyen added.
1h ago / 12:27 PM GMT+3
Sharesocial share icon trigger
Trade war with China 'to spark a wave of smuggling'
Peter Guo
Reporting from Hong Kong
mgmarket4.at
Irregular trade including smuggling will most likely rise amid the U.S.' and China's tit-for-tat tariffs, an economist warns.
The cost of tariffs has become gprohibitive to almost every company,h Tianchen Xu, senior economist at Economist Intelligence Unit.
gAs a result, trade flows in both directions will tumble, and irregular trade will proliferate, including smuggling, transshipment and systemic under-reporting of trade value during customs clearance,h Xu said in a note.
Xu said trade negotiations and a partial de-escalation in the ongoing trade war may ensue in the coming months, but those tensions are likely to worsen in the short term between the worldfs two largest economies.
1h ago / 12:09 PM GMT+3
Sharesocial share icon trigger
California plant business owner says costs will double with tariffs
Gadi Schwartz and Phil Helsel
The owner of a California home decor and plant shop said that even in dealing locally, the sourcing of goods from China is impossible to avoid.
mgmarket2.at
https://mgmarket7at.ru
|
|
![[NEW]](./image/new_icon.gif){kind=icon}
- 25/4/16(…) 4:10 -
