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WTO to set up panels to rule on U.S. tariff disputes

“They say the United States should compensate them for the damage, and have imposed their own tariffs in response” writes Midwest Communications Inc for 95kqds.com. The WTO also agreed to a U.S. request for a dispute panel to rule on a U.S. intellectual property complaint against China.Washington says the metals tariffs, imposed by Trump in March, are a national security measure, and therefore exempt from WTO rules.Countries hit with a dispute have one chance to block the request to set up a three-person adjudication panel. Source: 95kqds.com Share This:

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‘We will never have a deal’: China’s former top trade negotiator warns Beijing is hurting itself in Trump tariff battle

“In particular, Long singled out China’s approach to tariffs on soybeans, one of the areas hardest hit by the trade war so far” writes Will Martin for businessinsider.com. China’s former chief trade negotiator has hit out at his country’s handling of rising trade tensions with the US, saying that Beijing is failing to think “deeply enough” about its approach to the conflict. Source: businessinsider.com Share This:

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The CEO behind IHOP and Applebee’s perfectly illustrates how US restaurants could be one of the biggest winners of Trump’s trade war

“In response to Trump’s tariffs, countries like China, Canada, and Mexico responded with tariffs of their own on US agricultural goods” writes Kate Taylor for businessinsider.com. While President Donald Trump’s tariffs may be bad news for retailers like Walmart and Costco, the CEO of IHOP and Applebee’s says those chains are set to profit.The cuts on the agricultural products means that ingredients for the food used at IHOP and Applebee’s gets cheaper.Combined, IHOP and Applebee’s purchase billions of dollars of food each year, Joyce said. Source: businessinsider.com Share This:

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Commerce’s Ross says China tariff hike still set for January

“The U.S. has already hit $250 billion worth of Chinese goods with tariffs ranging from 10 to 25 percent” reports washingtonexaminer.com. The existing tariffs are set to hit 25 percent across the board next year.Administration sources have previously leaked to various media outlets that tariffs covering as much as $257 billion worth of Chinese goods could be announced if no progress is made at the meeting. Source: washingtonexaminer.com Share This:

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Trump is once again moving closer to imposing auto tariffs, a move that could have massive economic consequences

“Releasing a Commerce Department report on auto tariffs would be the next formal step toward imposing such restrictions” writes Bob Bryan for businessinsider.com. According to a report from Bloomberg, the White House is internally circulating a draft report from the Commerce Department on auto tariffs.The process is the same used by the Trump administration to slap tariffs on steel and aluminum.But Trump favors the tariffs as a way to extract concessions in trade discussions.Trump has previously threatened to impose a 25% tariff on all autos and auto parts coming into…

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The government is raking in billions of dollars from Trump’s tariffs. Americans are the ones paying.

“Federal revenue from tariffs in the third quarter increased by more than 33% from the same quarter last year, Treasury Department data shows” writes Finanzen Net Gmbh for businessinsider.com. At a postelection news conference on Wednesday, Trump misleadingly claimed that billions of dollars would “soon be pouring into our Treasury from taxes that China is paying for us.”. President Donald Trump likes to talk about the money Washington is making from the spate of tariffs his administration has imposed on global trading partners.”Tariffs are worse than taxes because they create…

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Retailers plan for blockbuster holiday season despite tariff overhang

“Retailers are stocking their shelves to meet blockbuster holiday-shopping demand fueled by U.S. economic growth while preparing for slower sales next year as President Trump’s escalating tariffs drive up prices” reports washingtonexaminer.com. A key test for retailers will be the Friday after Thanksgiving or “Black Friday,” one of the busiest shopping days of the year. Source: washingtonexaminer.com Share This:

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US businesses paid 50% more in tariffs in September due to Trump’s trade war: Industry group

“The increase was largely driven by $1.4 billion in Trump administration tariffs on Chinese imports and foreign steel and aluminum, the group said” writes Ylan Mui for cnbc.com. The coalition worked with the Trade Partnership, a consulting firm, to calculate the cost of the tariffs using government data.WASHINGTON – American businesses are paying much more in tariffs than they did last year, due mainly to President Donald Trump’s aggressive trade policies, according to an analysis by industry groups. Those tariffs accounted for $800 million in September, even though the bulk…

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Scottish Power accelerates electric vehicle drive

“Scottish Power will accelerate its move into the electric vehicle race by becoming the first Big Six supplier to offer a car charging tariff in partnership with a major dealership” writes Liam Halligan for telegraph.co.uk. The one-stop deal with Arnold Clark will allow Scottish Power customers to sign up for a green energy tariff and home charger installation at the same time as their lease agreement with the dealership. The move into electric vehicle charging comes just weeks after Scottish Power announced that it will turn its back on fossil…

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Fitbit stock ‘remains vulnerable’ ahead of holiday season, Morgan Stanley says

“FIT, -0.22% shares Monday, writing that the stock “remains vulnerable as holiday demand comes into focus.”” writes Emily Bary for marketwatch.com. Fitbit shares are little changed in midday Monday trading, and they’re off 20% so far this year, while the S&P 500 SPX, +0.42% is flat.He also thinks that tariff concerns are weighing on the shares even though Fitbit’s products were left off the latest tariff list. Source: marketwatch.com Share This:

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