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German exports rise in October, imports flat

“German exports were up 1.2% in October from September in adjusted terms, while imports remained flat on the month, the statistics office said” writes Maria Martinez for marketwatch.com. Exports totaled EUR119.5 billion, while imports amounted to EUR98.0 billion, both in adjusted terms.Germany’s trade surplus–the balance of exports and imports of goods–totaled 20.6 billion euros ($22.8 billion) in calendar and seasonally adjusted terms in October, according to Destatis.Economists had forecast a 0.3% decrease in exports in adjusted terms, according to a Wall Street Journal poll. Source: marketwatch.com

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Chinese imports rise for the first time since April

“Exports were down for the fourth consecutive month in year-over-year terms but imports rose for the first time since April” reports forexlive.com. I believe Chinese imports are one of the world’s best leading indicators because they’re often tied to raw materials that are finished and then exported abroad.Purchasing managers only ramp up imports when they see demand globally. This is a tiny rise in imports, so it’s way too early to draw any conclusions but but the Caixin and official China PMIs both beat expectations in the latest month. Source: forexlive.com

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China November exports unexpectedly fall, but imports rebound

“China’s trade surplus for November stood at $38.73 billion, compared with an expected $46.30 billion surplus in the poll and a $42.81 billion surplus recorded in October” writes Midwest Communications Inc for 95kqds.com. One Chinese official told Reuters that China will implement its own tariffs as a countermeasure under such circumstances, which may dash any chance of a near-term trade deal. Source: 95kqds.com

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Egypt signs agreement with ITFC to fund commodities imports worth $1.1bn in 2020

“The funds are within the $3bn agreement framework between Egypt and ITFC that was signed in January 2018” writes Daily News Egypt for dailynewssegypt.com. The International Islamic Trade Finance Corporation (ITFC) signed an agreement with Egypt on Wednesday, through which Egypt will receive $1.1bn to help the country with imports of petroleum products and basic commodities in 2020, according to Egypt’s Petroleum, Investment and International Cooperation and Supply and Internal Trade ministries.Egypt’s Minister of Investment and International Cooperation Sahar Nasr pointed out to that this agreement is a priority for…

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Forever war: US and China struggle to defuse trade conflict

“Beijing has been reluctant to make the kind of substantive policy reforms that would satisfy the Trump administration” writes The Associated Press for seattletimes.com. The Trump administration says France’s tax unfairly targets American tech giants like Google, Amazon and Facebook.That’s when the Trump administration is set to start taxing an additional $160 billion of Chinese imports.WASHINGTON (AP) — Businesses and investors have been nervously monitoring U.S.-China trade talks for months, hoping the world’s two biggest economies can de-escalate their trade war and restore some predictability to global commerce. Source: seattletimes.com

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Butter, blue cheese, and sparkling wine: Trump administration proposes retaliatory tariffs on $2.4B of French imports

“The French digital services tax is unreasonable, protectionist and discriminatory,” they said in a joint statement” reports washingtonexaminer.com. The French tax takes 3% of the annual revenue of technology companies such as Amazon, Apple, and Facebook made from users inside the country.The Trump administration repeatedly warned against such measures as the French Parliament was debating the legislation.The USTR said the tax unfairly discriminates against U.S. companies and that it was proposing tariffs of up to 100% on French products totaling $2.4 billion in trade annually. Source: washingtonexaminer.com

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EU lawmakers clear U.S. beef imports but fault U.S. tariffs

“BRUSSELS (Reuters) – European Union lawmakers approved an increase in U.S. beef imports to the EU on Thursday, a move likely to ease transatlantic tensions” writes Midwest Communications Inc for 95kqds.com. The WTO awarded the United States the right in the Airbus case in October to impose tariffs on $7.5 billion of EU imports.The EU and the United States eventually concluded an agreement in 2009 to grant a quota for hormone-free beef imports, which currently stands at 45,000 tonnes.But they also criticized tariffs imposed by U.S. President Donald Trump on…

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China’s gold demand dips to lowest level Oct 2016

“There have been a number of bearish factors for Gold recently: You can see on the chart below the drop in total known ETF holdings and the dip in Gold prices recently There is also a drop in demand from China as imports from China, the world’s biggest buyer, falls to a 2016 October low” reports forexlive.com. January is traditionally an excellent month for Gold as purchases are made ahead of the lunar New Year.Although research from the World Gold Council suggested that only 12% of those in the 18-22…

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New Trump rules would give Commerce secretary veto power over tech imports

“The Commerce secretary will be responsible for deciding which countries are adversaries, and which technologies pose such a threat” writes Financial Times for latimes.com. The U.S. Commerce secretary would be able to block imports of any technology deemed to pose a potential national security threat under sweeping new plans proposed by the Trump administration.In an attempt to combat the perceived threat of Chinese equipment being used for spying, the Commerce Department on Tuesday put forward rules requiring the personal approval of Commerce Secretary Wilbur Ross for sensitive transactions.Alongside the blacklisting,…

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U.S. goods trade deficit narrows sharply in October

“WASHINGTON (Reuters) – The U.S. goods trade deficit fell sharply in October as both exports and imports declined, pointing to a continued reduction in trade flows that has been blamed on the Trump administration’ “America First” policy” writes Midwest Communications Inc for 95kqds.com. The Commerce Department said on Tuesday the goods trade gap dropped 5.7% percent to $66.5 billion last month.Goods imports tumbled 2.4% in October after falling 2.1% in the prior month, amid decreases in imports of industrial supplies, motor vehicles and consumer goods.The White House’s protectionist trade policy…

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