News 

It would be a terrible idea to waive tariffs on China before any deal

“It would be a grievous error to grant China any U.S. tariff relief in advance of a broader trade deal” reports washingtonexaminer.com. In turn, any trade deal with China must lead to at least some Chinese concessions towards greater respect for World Trade Organization rules, and Beijing’s reduced thievery of high-value intellectual property.Instead, the Chinese see this as an opportunity to extract maximum U.S. tariff relief in return for meager reciprocity.China will get its tariff relief, America will get a few dollars’ worth of new market access, but nothing will…

Read More
News 

CEO of world’s largest money manager foresees bullish surge on a US-China trade deal

“The markets would see a bullish surge in investor sentiment if the U.S. were to reach a trade deal with the China, BlackRock Chairman and CEO Larry Fink told CNBC on Wednesday” writes Berkeley Lovelace Jr for cnbc.com. “Until we see better certainty on trade and China, we’re not going to see super elevated flows,” said Fink, co-founder of the world’s largest money manager.”If there was a resolution between the U.S. and China, related to trade, we would see a surge in investment sentiment.”.  Source: cnbc.com

Read More
News 

US-China trade talks start amid cooling economic growth

“Chinese growth fell to a post-global crisis low of 6.5 percent in the quarter ending in September” reports thebusinessjournal.com. A Dec. 1 agreement postponed further tariff increases.Economists say the 90-day postponement of additional tariff increases that had been meant to take effect Jan. 1 may be too short to settle the disputes bedeviling U.S.-Chinese relations.Cooling economic growth in both countries is increasing pressure to reach a settlement.The talks went ahead despite tensions over the arrest of a Chinese tech executive in Canada on U.S. charges related to possible violations of…

Read More
News 

Tesla urges tariff exemption for Chinese-made car computer ‘brain’

“GM in late July sought an exemption to a 25 percent U.S. tariff on its Chinese-made Buick Envision sport utility vehicle” writes Midwest Communications Inc for 95kqds.com. The Chinese-made computer, used by Tesla in the car assembled in Fremont, California, was among $16 billion in imports that were hit with 25 percent tariffs by the United States Trade Representative’s Office in 2018.WASHINGTON (Reuters) – Tesla Inc has asked the Trump administration to exempt the Chinese-made car computer “brain” of its new Model 3 sedan from 25 percent tariffs imposed in…

Read More
News 

Trump says the Treasury is taking in ‘MANY billions of dollars’ from the tariffs on China. The only problem is that US companies are paying the price.

“The Treasury has indeed doubled the amount of tax revenue from import duties since the tariffs were put in place” writes Bob Bryan for businessinsider.com. President Donald Trump painted a rosy picture of the trade war with China on Thursday, once again touting the large amount of tax revenue generated by his tariffs.But for the president to boast that the U.S. is ‘taking in billions’ on tariffs makes no sense at all,” Shepherdson wrote.”Tariffs are a tax on consumers, primarily, though some of the hit might be borne by Chinese…

Read More
News 

China allows first-ever US rice imports

“China currently imports rice from other Asian countries, having opened its agricultural market when it joined the World Trade Organization in 2001” reports washingtonexaminer.com. Its regulations, however, effectively banned imports from the U.S. On top of that, China imposed a 25 percent tariff on U.S. rice in July. China has similarly lifted its 25 percent tariffs on U.S. auto imports, but said they are scheduled to return on March 31.In retaliation, the U.S. enacted a 10 percent tariff on Chinese rice in September.Beijing said on its customs authority’s website Friday…

Read More
News 

Infinity Solar requests to establish $300m solar power plants

“Infinity Solar has asked the ministry of electricity to approve the construction of 300MW solar power plants at investments of up to $300m” writes Mohamed Farag for dailynewsegypt.com. Infinity Solar is the first company to complete the implementation of its solar power plants under the first and second phase of the feed-in tariff programme.Over time, the company developed its solutions and began submitting its documents to the New and Renewable Energy Authority to qualify for solar energy projects.By linking these projects, the company will finalise all its projects in the…

Read More
News 

Trump tariff war with China sends U.S. retailers on buying binge

“The other major retailers, including Target, TJX and Macy’s would not comment for this story on the part tariffs played in their approach to buying inventory this year” reports businessinsider.com. The surplus signals a stark change from last year, when retailers and department stores were ordering less product and in smaller batches to keep inventory costs down.Fry said the vendors he works with have all been stockpiling toys from China to get ahead of the tariffs.Port Logistics Group operates 6.5 million square-feet of space at 14 distribution centers, and counts…

Read More
News 

Mercedes, Tesla lowering prices in China amid easing tariff tensions

“Full details of China’s forthcoming reduction of its tariffs on US-built cars aren’t even out yet, but already, automakers have reacted by reducing prices” writes Andrew Krok for cnet.com. The price drop goes into effect on Jan. 1, the same day China promised to reduce its tariffs.The Verge reports that Tesla will drop the prices of the Model S and Model X in China by about $15,000 and $9,500, respectively.Last week, the world received official confirmation that trade tensions between the US and China were easing. Source: cnet.com

Read More