Amid Trade War, Donald Trump Says US "Rebuilt" China

Amid Trade War, Donald Trump Says US

President Donald Trump threatened to impose a 10 per cent tariff on another $200 billion of Chinese goods, and Beijing warned it would retaliate. Last week, the US levied tariffs of 25 percent on $50 billion of Chinese goods.

European companies have been bystanders to the U.S.

Those tariffs will not go into effect until after a public comment period, and there is a chance that chips could be cut from it before it is made final, analysts said.

In total, Trump has now threatened up to $450 billion U.S. in Chinese imports with tariffs, including another $200 billion United States in Chinese goods if Beijing retaliates after the step Trump announced on Monday.

However, many economists and businesses in the United States say the tariffs are likely to hurt some of the sectors the administration is trying to protect, which depend on China for parts or assembly.

China said it would retaliate immediately by slapping duties on American export products, including crude oil, and suspend all previous trade agreements with Trump's administration. Earlier, the S&P 500 Index posted a small retreat and Treasury yields were little changed after trading near the lowest this month. The Nasdaq composite fell 61 points, or 0.8 percent, to 7,685.

Germany's DAX was up 0.1 percent to 12,692 and France's CAC 40 added 0.2 percent to 5,400. Boeing's stock shed 3.6 percent, Caterpillar 3.7 percent and GE 1.7 percent.

The losses were even heavier in Asia, where Tokyo's Nikkei 225 retreated 1.8 percent and Seoul's Kospi gave up 1.5 percent. "Without growing US crude supply and exports, global prices could today be multiples higher than they now are". The strongest is probably a consumer boycott of U.S. consumer goods but it can also use restrictions on investments in China by USA companies as there are far more United States companies in China than the other way around.

Star Wars Story Spin-Off Movies Reportedly On Hold at Lucasfilm
For now, the only Star Wars film confirmed with a release date is the upcoming Episode IX , which will debut December 20, 2019. But the story of young Han Solo did receive mixed reviews, whereas Rogue One was nearly universally praised.

Trump accused Beijing of being unwilling to resolve the dispute over complaints it steals or pressures foreign companies to hand over technology.

The declines weighed on the S&P industrials index, which fell 2.1 per cent, its biggest one-day percentage drop in almost two months.

In the currency market, the dollar eased to 110.33 yen, having hit a three-week high of 110.905 on Friday.

Companies also are watching the fate of ZTE Corp.

The chamber polled 1,195 members for the annual report in February and March, with 532 completing the survey. But Intel shares dropped 3.4 percent to $53.22 on Monday on news of a stock downgrade and investor concerns over tariffs. In turn, these firms must either absorb those new costs or pass down price increases to consumers. US bond yields fell in a flight to safety. The euro's partial recovery came a day after it was hammered by the ECB's rate announcement that was accompanied by a cut in the central bank's eurozone growth outlook, citing rising protectionism and global trade fears.

Neither side has yet imposed tariffs on the other in their growing dispute over technology and the USA trade gap; the first round is to take effect on July 6. In April the Commerce Department blocked ZTE from buying US components for seven years, a move that amounted to a death sentence for the company. "He's willing to totally close our market to their exports". The yuan fell to its lowest level against the dollar in five months. Australia's S&P/ASX 200 climbed 1.2 percent to 6,172.60.

Investors sought safety in telecommunications, utilities, and other high-dividend stocks like Verizon, Procter & Gamble and Johnson & Johnson. The contract lost $1.83 to settle at $65.06 per barrel on Friday. The drugstore chain and pharmacy benefits manager said it will start making home deliveries of prescriptions and other items. USA officials argue that this program unfairly discriminates against US and other foreign companies operating in China. The Russell is up nearly 10 percent this year while the S&P has risen 3 percent and the Dow is flat.

Related Articles

  • Supreme Court rules states can collect sales tax for online purchases nationwide

    Supreme Court rules states can collect sales tax for online purchases nationwide

    Small online businesses will be the hardest hit, said Chris Cox, a lawyer for e-commerce industry group NetChoice. The decision has major implications for online retailers, including Amazon.
    Trump to 'keep families together'

    Trump to 'keep families together'

    He continued to blame the Democrats for the policy, having previously said it is "their law" that causes separation at the border. When Trump signed an executive order on Wednesday to end forced separations on his own, they shrugged.
    One dead, five wounded in Malmo shooting

    One dead, five wounded in Malmo shooting

    One person was killed and five wounded in a shooting in the centre of the southern Swedish city of Malmö on Monday, police said . Swedish police say several people were injured when shots were fired Monday in Malmo, Sweden's third-largest city.
  • Stranded Aquarius migrants arrive in Spain

    Stranded Aquarius migrants arrive in Spain

    Each were assigned to a translator and authorities worked to determine their identities before they were sent to welcome centers. It will arrive close to the island of Lampedusa on Sunday morning where an Italian coast guard vessel will take the migrants.
    Confirmed starting XI for Fifa World Cup Group E game

    Confirmed starting XI for Fifa World Cup Group E game

    Captained by Neymar five-time World Cup winners Brazil have selected a strong squad for the finals in Russian Federation . We should have made their keeper work harder than that. "I think it's not the same as a foul".
    Child among three killed, over 200 injured in Japan natural disaster  (VIDEO & PICS)

    Child among three killed, over 200 injured in Japan natural disaster (VIDEO & PICS)

    Prime Minister Shinzo Abe told reporters the government was "working united, with its first priority on saving people's lives". Eiji Shibuya, 52, said the tremor reminded him of the devastating 1995 Kobe quake , which killed almost 6,500 people.
  • AMC taking on MoviePass with new movie ticket program

    AMC taking on MoviePass with new movie ticket program

    MoviePass works at most theaters in the US , not just AMC, because the company pays full price for each and every ticket. AMC's leap into the subscription business suggests such services are only growing more vital to the movies business.
    Boston Celtics: 3 players team should target in 2018 NBA Draft

    Boston Celtics: 3 players team should target in 2018 NBA Draft

    The caveat is the Grizzlies are trying to deal Chandler Parsons , who still has two years at $24 million left on his contract. He also added Monday in his pre-Draft availability the Magic are also exploring options to move up or down in the draft.
    Frustrated Phil Mickelson swats moving ball with putter at US Open

    Frustrated Phil Mickelson swats moving ball with putter at US Open

    In Trump's America, it appears that you can now do or say anything and be heralded as a maverick and a hero. Open to the point he hit a moving ball with his putter in the third round on Saturday in Southampton, N.Y.
  • Instagram has more than a billion users

    Systrom has no current plans to sell advertising on IGTV but said ads would likely be added in the future. As previously expected , today Instagram has officially announced its new long-form video effort, IGTV .
    Messi's Mom: My Son Has Cried A Lot For Argentina

    Messi's Mom: My Son Has Cried A Lot For Argentina

    Superstar Lionel Messi has often been criticised for his performances with Argentina , despite being their record goalscorer. Luckily, people love him a lot and they transmit that to him and he values this a lot.
    Gregg Popovich and Kawhi Leonard meet for first time since trade demand

    Gregg Popovich and Kawhi Leonard meet for first time since trade demand

    The Spurs don't have to trade Leonard, and their ability to offer a five-year, $219 million super-max extension is enticing. Per a report from Jabari Young of the San Antonio Express-News, it was a "good" meeting .