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EU to respond to any U.S. auto tariff move: report

“The United States currently imposes a 2.5 percent tariff on imported passenger cars from the EU and a 25 percent tariff on imported pickup trucks” writes Midwest Communications Inc for 95kqds.com. Trump has repeatedly singled out German auto imports to the United States for criticism.The Commerce Department plans to hold two days of public comments in July on its investigation of auto imports. Source: 95kqds.com Share This:

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China’s sorghum imports in May jump, despite anti-dumping probe 

“China’s imports of sorghum in May rose 59 percent year on year to 470,000 tonnes, customs data showed on Saturday, despite an anti-dumping move by Beijing a month earlier that had roiled the grains trade” writes Travis Heying for cnbc.com. The data from the General Administration of Customs does not break down the imports by country, but China imports nearly all of its sorghum from the United States in trade worth about $1.1 billion in 2017.But China dropped an anti-dumping investigation into U.S. imports on May 18, and the data…

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If EU Won’t Back Down, Trump Threatens Tariff on Car Imports

“President Donald Trump tweeted another tariff threat Friday, this time targeting imported autos from the European Union” writes Jeff Cox for cnbc.com. The 20 percent tariff actually would be a bit smaller than the 25 percent levy Trump had previously threatened. Trump has directed the U.S. trade representative to find another $200 billion worth of Chinese imports for tariffs of 10 percent.As part of tariffs expected to go online July 6, the administration has put a 25 percent tariff on Chinese goods including autos. Source: cnbc.com Share This:

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‘Brink of recession’: What’s at stake as Trump trade-war risk rises

“A major trade war would lead to a significant reduction in growth” reports washingtonexaminer.com. “Not only would these tariffs cost American families, but would also they put American jobs at risk.”. A decline in confidence and supply chain disruptions could amplify the trade shock, leading to an outright recession.”. Whether it will deliver the results that Trump wants — curbing a U.S. trade imbalance with partners including China — remains to be seen. Source: washingtonexaminer.com Share This:

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Trump threatens 20% tariff on all car imports from the EU

“President Donald Trump tweeted another tariff threat Friday, this time targeting imported autos from the European Union” writes Jeff Cox for cnbc.com. The 20 percent tariff actually would be a bit smaller than the 25 percent levy Trump had previously threatened. Trump has directed the U.S. trade representative to find another $200 billion worth of Chinese imports for tariffs of 10 percent.As part of tariffs expected to go online July 6, the administration has put a 25 percent tariff on Chinese goods including autos. Source: cnbc.com Share This:

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105.5% increase in Egypt’s exports to US in 2017: CAPMAS

“The US investments in Egypt reached EGP 79.9m in 2017, compared to EGP 27.02m in 2016, marking san increase of 195.7%” writes Hossam Mounir for dailynewsegypt.com. The value of Egyptian exports to United States reached EGP 23.6bn in 2017, accounting for 5.1% of Egypt’s exports to the world, this is up from EGP 11.5bn in 2016, marking an increase of 105.5%, according to the Central Agency for Public Mobilization and Statistics (CAPMAS).The value of Egyptian imports from the United States reached EGP 69.1bn in 2017 and represent 5.9% of Egypt’s…

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News Oil 

China to reduce U.S. oil imports post-September amid trade spat: sources

“Beijing has put U.S. energy products, including crude oil and refined products, on lists of goods that it will hit with import taxes in retaliation for similar moves by Washington” reports businessinsider.com. A top trading executive with Sinopec told Reuters the state refiner will maintain its usual import volumes for July-loadings, but can’t commit to bookings further out.Beijing did not specify when it will impose a 25 percent tax on oil, and that gives buyers time to adjust purchases while waiting for the outcome of trade talks, the sources said.Nevertheless,…

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China accuses Washington of ‘capricious’ trade actions

“It is deeply regrettable that the U.S. has been capricious, escalated the tensions, and provoked a trade war,” he said” writes Li Huisi for cnbc.com. China’s commerce ministry on Thursday accused the United States of being “capricious” over bilateral trade issues, and warned that the interests of U.S. workers and farmers ultimately will be hurt by Washington’s penchant for brandishing “big sticks.”. President Donald Trump threatened on Monday to hit $200 billion of Chinese imports with 10 percent tariffs if Beijing retaliates against his previous announcement to target $50 billion…

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Trump’s burgeoning trade war with China is starting to get dangerous for the economy

“President Donald Trump increasingly seems headed toward a trade war with China, and US consumers could soon start feeling the squeeze” writes Bob Bryan for businessinsider.com. “Risking a trade war with more tariffs will only invite more retaliation that will cause significant harm to the US economy.”. Peter Navarro, Trump’s most protectionist trade adviser, blasted China during a briefing with reporters on Tuesday.Navarro also indicated that no trade talks with China were planned but said the administration was willing to hold discussions. Source: businessinsider.com Share This:

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