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China can’t match Trump in a tariff fight, but it does have other weapons

“The White House has already announced pending tariffs on $50 billion in Chinese goods” writes Jeffry Bartash for marketwatch.com. Also Read: 3 reasons China won’t use yuan devaluation as trade-war tactic Indeed, there’s only so much China can do.China can’t go toe to toe with the U.S. in a widening tariff war because it simply doesn’t buy enough stuff from America.China doesn’t “import enough U.S.-made goods to keep up with tit-for-tat tariffs,” noted chief economist Chris Low of FTN Financial Group. Source: marketwatch.com Share This:

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China blasts new US tariff threat, warns it will retaliate

“China responded to the U.S. announcement Friday of a 25 percent tariff on $34 billion of Chinese goods by imposing an identical charge on the same amount of American goods” writes The Associated Press for seattletimes.com. The Commerce Ministry criticized Trump’s order for new tariffs on $200 billion of Chinese goods as blackmail.That would leave about $120 billion available for a tariff hike, falling short of Trump’s $200 billion target.Trump’s announcement fueled fears that economic losses, limited so far to companies hit by U.S. or Chinese tariff hikes, might spread…

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Markets News 

Trump alarms Wall Street with $400 billion Chinese tariff threat

“If China increases its tariffs yet again, we will meet that action by pursuing additional tariffs on another $200 billion of goods.”” reports washingtonexaminer.com. The Dow Jones Industrial Average slid more than 300 points Tuesday as global markets sank following President Trump’s threats to add tariffs on as much as $400 billion in Chinese imports unless Beijing bows to his demands.The broader S&P 500 fell 0.9 percent while the tech-heavy Nasdaq sank 1 percent, stretching declines since the White House formally imposed 25 percent tariffs on $50 billion of Chinese…

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Trump promises Apple he won’t put tariff on iPhones

“The Trump administration has hit Chinese smartphone maker ZTE hard with tariffs recently for violating sanction imposed on Iran and North Korea” writes Buster Hein for cultofmac.com. According to the New York Times article, Trump promised Cook that he wouldn’t place tariffs on iPhone assembled in China.Apple has found the new administration to be more accessible than Obama’s administration. Source: cultofmac.com Share This:

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USA, China announce new tariffs in escalation of trade war…

“In a quick response to U.S. tariffs, Beijing announced on Friday its own duties on American products, including the politically sensitive areas of agriculture products and automobiles” writes unknown author for cnbc.com. The Chinese State Council’s commission on tariffs and customs said in an online statement that a 25 percent tariff will take effect July 6 on $34 billion of U.S. goods. Source: cnbc.com Share This:

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News Oil 

China is targeting U.S. energy in response to President Trump’s decision Friday to place tariffs on $50 billion in goods from the Asian power.

“China is targeting U.S. energy in response to President Trump’s decision Friday to place tariffs on $50 billion in goods from the Asian power” reports washingtonexaminer.com. The second round of tariffs, of 25 percent, will include energy commodities from the U.S., including natural gas and crude oil.The later 25 percent tariff would apply to energy products, chemicals and medical equipment.The retaliation could harm the president’s “energy dominance” agenda, which relies heavily on exporting natural gas and oil. Source: washingtonexaminer.com Share This:

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Trump’s China tariffs turn Congress on its head as Democrats cheer and GOP slams the move

“President Donald Trump’s tariffs on more than $15 billion worth of Chinese goods is drawing cheers and condemnations from Congress, but not along the party lines you may expect” writes Bob Bryan for businessinsider.com. Many Democrats were against the Trans-Pacific Partnership (TPP) free trade deal, despite the TPP being advanced by President Barack Obama.Orrin Hatch of Utah, chair of the Senate Finance Committe and a long-time free trade advocate, took a similar approach in his statement.While Democrats don’t agree with Trump often, the party has long been more skeptical of…

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News Stocks 

U.S. trade tariffs push industrials, materials stocks lower

“The S&P 500 materials index was down 1.2 percent while the industrials index fell 0.8 percent after the news” reports businessinsider.com. Caterpillar Inc shares fell 2.7 percent.The dollar index , which measures the greenback against a basket of other major currencies, was last flat after rising as much as 0.4 percent.Aluminum supplier Alcoa shares fell 5.2 percent.”Industrial stocks are being hurt by the trade sanctions announced by the U.S. and compounding it is the stronger dollar,” said Paul Nolte, portfolio manager at Kingsview Asset Management in Chicago. Source: businessinsider.com Share This:

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China threatens to scrap US trade deals if the White House hikes tariffs on Chinese goods

“However, this is not the mainstream and will not affect our country’s situation of steady and healthy development of foreign trade.”” reports cnbc.com. As part of that, the White House is due to issue a list on Friday of $50 billion of Chinese goods targeted for a 25 percent tariff.China’s government renewed its threat Thursday to scrap deals with Washington aimed at defusing a sprawling trade dispute as the White House prepared to release a list of Chinese goods targeted for tariff hikes.U.S. President Donald Trump has threatened to raise…

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Trump to meet with top trade advisers on activation of China tariffs: source

“Trump is due to unveil revisions to his initial tariff list targeting $50 billion of Chinese goods on Friday” writes Midwest Communications Inc for 95kqds.com. WASHINGTON (Reuters) – U.S. President Donald Trump will meet with his top trade advisers on Thursday to decide whether to activate threatened tariffs on billions of dollars in Chinese goods, a senior Trump administration official said on Wednesday.It remains unclear when Trump would activate the tariffs if he decides to do so.He can also delay the tariffs by another 180 days if the U.S. Trade…

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