trade war

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Why This Woman's Arrest Is Causing Markets to Tank

Meng Wanzhou is the CFO of Chinese tech giant Huawei

(Newser) - The arrest of a Chinese tech executive rattled already jittery world markets Thursday and brought international attention to her company, Huawei Technologies. The woman in custody is its 46-year-old chief financial officer, Meng Wanzhou, who also goes by Sabrina Meng. China is seething over the arrest, which took place at... More »

China Starts to Open Up on What It Agreed to Do

Confirms there is a 90-day window for trade talks

(Newser) - Though US markets are closed Wednesday in honor of former President George HW Bush, after Tuesday's 800-point plunge investors will be looking for hints as to what to expect Thursday morning, and all eyes are on China. Tuesday's sell-off was sparked by uncertainty over what exactly Trump and... More »

Result of Trump-Xi Dinner: A 90-Day Truce

Trade war seems to be on hiatus

(Newser) - The US and China reached a 90-day ceasefire in a trade dispute that has rattled financial markets and threatened world economic growth, per the AP . The breakthrough came after a dinner meeting Saturday between President Trump and Chinese leader Xi Jinping at the Group of 20 summit in Buenos Aires.... More »

'Trade War Now a Reality' After Latest Moves by China, US

China imposes new tariffs on $60B of US imports, accuses US of 'trade bullyism'

(Newser) - China imposed new tariff hikes on US goods on Monday and accused Washington of bullying, giving no sign of compromise in an intensifying battle over technology that's weighing on global economic growth. The General Administration of Customs said it started collecting additional taxes of 5% and 10% on a... More »

Billionaire's Plan to Create 1M US Jobs Killed by Trade War

Jack Ma of Alibaba says 'this promise can't be completed'

(Newser) - Take your pick as to which of these statements from Alibaba founder Jack Ma is gloomier: He's going back on his pledge to create 1 million US jobs , and the US-China trade war that he blames for that plan's undoing is one that he believes could last two... More »

Trump's Trade War Hits the Lobster Business

Layoffs and lagging prices damage the industry

(Newser) - The American lobster industry is starting to feel the pinch of China's tariff on US seafood as exporters and dealers cope with sagging prices, new financial pressures, and difficulty sending lobsters overseas, the AP reports. China is a major buyer of lobsters, and it imposed a heavy tariff on... More »

China Has Stopped Accepting Applications From US Firms

Business group says it is retaliation for tariffs

(Newser) - Amid a worsening tariff battle, China is putting off accepting license applications from American companies in financial services and other industries until Washington makes progress toward a settlement, a business group says. The disclosure Tuesday is the first public confirmation of US companies' fears that their operations in China or... More »

US-China Trade War Hits New Low

China releases video mocking US bacon, bourbon as billions in tariff hikes go into effect Thursday

(Newser) - The United States and China went ahead with tariff hikes on billions of dollars of each other's automobiles, factory machinery, and other goods Thursday in an escalation of a battle over Beijing's technology policy that companies worry will chill global economic growth. The increases came as envoys met... More »

In Game of Chicken, China Announces $60B Tariff Plan

Warns US to expect countermeasure if US follows through with trade threat

(Newser) - As Trump administration officials mull a possible 25% tariff on $200 billion of Chinese goods—up from the original 10% tariff being bandied about—China is taking its own steps in the newest round of trade threats. Bloomberg and CNBC report on joint statements from China's Ministry of Finance... More »

Trump to Give Farmers Aid, but Farmers Aren't Thrilled

'They want trade, not aid,' says lawmaker of $12B in emergency relief amid tariff disputes

(Newser) - President Trump showed off a new campaign hat on Monday—it's green with yellow letters, reminiscent of the John Deere logo, and it reads "Make Our Farmers Great Again," notes Politico . (See Agriculture Secretary Sonny Perdue sporting one here .) The message is a calculated one as... More »

US Just Ramped Up Trade War With China

White House announces another $200B in products to be hit with tariffs

(Newser) - The US-China trade war is here—and it's escalating rapidly. US authorities rolled out a list Tuesday of some $200 billion in Chinese goods that could be hit with 10% tariffs by September, Deutsche Welle reports. The list of more than 6,000 product lines includes food products and... More »

US Ship With Soybeans Raced the Clock Toward China

But 'Peak Pegasus' appears to have fallen just short, as tariffs go into effect

(Newser) - Trade disputes generally don't lend themselves to exciting visuals, but the new one between the US and China might be an exception. As the deadline neared for new penalties to take effect, a ship laden with US soybeans raced toward the Chinese port of Dalian, capturing the attention of... More »

China Slams US 'Blackmail' as Tariffs Loom

Beijing says it won't 'bow in the face of threats'

(Newser) - China rejected "threats and blackmail" ahead of a threatened US tariff hike , striking a defiant stance Thursday in a dispute companies worry could flare into a full-blown trade war and chill the global economy. A government spokesman says Beijing will defend itself if President Trump goes ahead Friday with... More »

'Extinction' Looms for America's Biggest Nail Manufacturer

Mid-Continent Nail says it was forced to raise prices due to the 25% tariff on steel

(Newser) - Mid-Continent Nail laid off 60 of its 500 workers on June 15, and says it could have to entirely halt production by Labor Day, reports CNN . Located in Poplar Bluff, Mo., the nation’s largest manufacturer of nails says that it was forced to raise prices due to the new... More »

Dow Is Now in the Red for the Year

Worries about a US-China trade war are increasing

(Newser) - The stock market opened on a down note and finished in pretty much the same place, all thanks to investor worries about a possible trade war between the US and China. The Dow lost 287 points to finish at 24,700, enough to wipe out all 2018 gains, reports MarketWatch... More »

Dow Falls 300+ at Open on Trade War Fears

Investors worried about tensions with Beijing

(Newser) - The stock market opened on a sour note Tuesday amid investor fears that a full-blown trade war between the US and China is in the offing. The Dow fell more than 300 points, or 1.2%, in the first minutes of trading, and the S&P 500 and Nasdaq were... More »

Trump Quadruples Down on China Tariff Threat

'China apparently has no intention of changing its unfair practices'

(Newser) - President Trump directed the US Trade Representative to prepare new tariffs on $200 billion in Chinese imports Monday as the two nations moved closer to a potential trade war. The tariffs, which Trump wants set at a 10% rate, would be the latest round of punitive measures in an escalating... More »

Report: Trump Has Approved Tough New Tariffs on China

Move raises fears of trade war

(Newser) - President Trump has approved a plan to impose punishing tariffs on tens of billions of dollars of Chinese goods as early as Friday, a move that could put his trade policies on a collision course with his push to rid the Korean Peninsula of nuclear weapons. Trump has long vowed... More »

Senators Move to Mend Relations With Canada

Lawmakers from both parties act after rocky G-7 meeting

(Newser) - Senators from both parties sought to mend a frayed relationship with Canada during a closed-door meeting Wednesday with Canadian Foreign Minister Chrystia Freeland. The meeting involving members of the Senate Foreign Relations Committee followed President Donald Trump calling Canadian Prime Minister Justin Trudeau "dishonest" and "weak" after the... More »

Trump to China: We're Imposing Tariffs After All

White House plans to restrict Chinese investment and limit US exports to China

(Newser) - The Trump administration has renewed its threat to place 25 percent tariffs on $50 billion of Chinese goods in retaliation for what it says are China's unfair trade practices, the AP reports. The White House also said Tuesday that it would restrict Chinese investment into the United States and... More »

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