Escalating trade fight weighs on global stocks, boosts Treasuries

26 June, 2018, 23:57 | Author: Frank Williams
  • Trump officials send mixed signals on China investment curbs,...

Chinese investment has provided jobs and tax income for the USA, and it should view commercial activities "objectively", Foreign Ministry spokesperson Geng Shuang told reporters in Beijing on Monday.

The fireworks in the stock market follow an escalation in the back-and-forth threats to global trade, which suggest that investors are becoming increasingly anxious that political rhetoric is moving toward actual policy.

"All we're doing here with the president's trade policy is trying to defend our technology when it may be threatened", Navarro said.

"The United States is insisting that all countries that have placed artificial Trade Barriers and Tariffs on goods going into their country, remove those Barriers & Tariffs or be met with more than Reciprocity by the U.S.A".

The U.S. Treasury is due to issue its recommendations on Chinese investment restrictions on Friday.

The Dow, a narrow gauge of 30 US stocks, has declined in nine of the past 10 trading days - a remarkably long losing streak that adds up to a 4.6 per cent decline. Amazon shares fell more than 3.5%, while shares of Google and Facebook fell 3.67% and 3.77%, respectively.

The disagreements were also about USA tariffs on $34 billion worth of Chinese goods that are scheduled to go into effect on July 6, which China said would trigger retaliation involving its imports of American soybeans and motor vehicles. The EU has long blamed China for flooding its markets with cheap steel, and has imposed its own steep tariffs on Beijing. Goods assembled and exported in one country often depend on components manufactured in another, after being designed in yet a third country, making the national trade deficit focused on by President Trump an unreliable guide.

More news: Priest loses his temper and slaps a baby during baptism

Bloomberg's report is titled "US plans curbs on Chinese investment, citing security risk" and cites eight people familiar with the plans.

"I would not, on the investment side, be betting against the Treasury Department", Scissors said, noting that Treasury would control implementation of such rules.

The bill would allow the Committee on Foreign Investment in the United States (CFIUS) to review transfers of minority interests in companies dealing with critical infrastructure or critical technology as opposed to full acquisitions.

The government official said the Treasury would invoke the International Emergency Economic Powers Act of 1977 (IEEPA) to devise the restrictions.

After his comments, stocks recovered some ground and the benchmark Dow Jones Industrial Average closed with a loss of 1.3 percent, or 325 points.

Hours later, White House trade and manufacturing adviser Peter Navarro walked back Mnuchin's remarks, telling CNBC that the restrictions on investing in tech companies would just target China.

Airbus could stand to benefit if China's looming trade war with the United States prompts Beijing to favour the European aerospace giant over U.S. rival Boeing.


  • Online Shopping Is About to Get More Expensive

    Online Shopping Is About to Get More Expensive

    The biggest online retailer, Amazon .com, took a small hit, even though it already collects taxes on its sales in all states. When Amazon opens a fulfillment center in a state, it starts collecting sales tax, noted the report.
    Zsa Zsa the English bulldog wins Ugliest Dog contest

    Zsa Zsa the English bulldog wins Ugliest Dog contest

    Most of the World's Ugliest Dog contestants are up for adoption and the event helps raise awareness of pet rescue and adoption. Zsa Zsa's owner, Megan Brainard of Anoka, Minnesota, will earn a pretty penny for her victory-a $1,500 prize, to be precise.
    Seoul expects 'reciprocal' act from North to military drill suspension

    Seoul expects 'reciprocal' act from North to military drill suspension

    The summer exercise, Ulchi Freedom Guardian, consists mainly of computer simulations to hone joint decision-making and planning. The move is part of an ongoing effort by both nations to denuclearize North Korea.
  • Trump calls for deporting illegal immigrants with 'no judges or court cases'

    Coffman said in an interview. "There are already people being removed with a truncated process". Last week, the Trump administration's family separation policy sparked a national outcry.
    Cryptocurrency Exchange Bithumb Suspends Trading Amid $31 Million Hack

    Cryptocurrency Exchange Bithumb Suspends Trading Amid $31 Million Hack

    South Korea's spy agency later accused North Korea of being responsible after the stolen information was used to carry out scams. However, we will make every effort to reopen the service as soon as possible, with the ultimate goal of protecting your assets.
    Ahmed Musa sets TWO World Cup records as Nigeria beat Iceland

    Ahmed Musa sets TWO World Cup records as Nigeria beat Iceland

    Rohr brought on wing-back Tyronne Ebuehi for Bryan Idowu at the start of the second half and Nigeria came out full of running. In this case, Argentina will need to beat Nigeria and hope that Iceland to not beat Croatia in their final game.
  • Trump says Republicans should stop

    Trump says Republicans should stop "wasting their time" on immigration

    Despite Trump's stance, House Majority Leader Kevin McCarthy said the chamber would press ahead on legislation next week. Trump is now urging his fellow Republicans to focus on the 2018 mid-term elections which take place in November.
    Neymar hits back at World Cup critics

    Neymar hits back at World Cup critics

    Don't miss a moment of the World Cup! He took the field for the match between Belgium and Panama in Sochi last Monday. Costa Rica , meanwhile, are out but the Central Americans were far from disgraced here.
    Priyanka Chopra, Nick Jonas on a dinner date in Mumbai

    Priyanka Chopra, Nick Jonas on a dinner date in Mumbai

    Ever since, Priyanka and Nick have been enjoying "us" time either on coffee dates, dinner dates or even on baseball outings too. Priyanka Chopra Unfinished She continued as, I've always wanted to write a book, but the timing never felt right.
  • Colombia vs Poland: Radamel Falcao scores as Colombia thrash Poland 3-0

    Colombia vs Poland: Radamel Falcao scores as Colombia thrash Poland 3-0

    Following Colombia's convincing 3-0 win over Poland , the FC crew assess Los Cafeteros' chances of beating Japan and advancing to the round of 16.
    Fallen Kingdom' Pacing For $133 Million Opening Weekend

    Fallen Kingdom' Pacing For $133 Million Opening Weekend

    The Jurassic franchise may take breaks for a few years, but we'll probably see many more of these films. Considering how forgettable Jurassic Park III was, that's really saying something.
    Belgium unchanged for Tunisia clash at World Cup

    Belgium unchanged for Tunisia clash at World Cup

    VAR was used, confirming that the challenge was illegal and that it had taken place just inside the penalty area. Group G of the 2018 FIFA World Cup is really will take shape when Belgium and Tunisa meet.


Rohr: Super Eagles Must Attack Argentina, We Can’t Play For Draw
However, it's possible neither will play, particularly as Croatia are virtually guaranteed top spot in the group. Tying one's first game at a World Cup doesn't have to be a big deal.

Senegal, Japan share the points in thriller
For the second straight match, Japan had high-profile support in the stands. Japan had only two. "But after that I think we did pretty well".

Erdogan claims victory in Turkish presidential election
Electoral board Chairman Sadi Guven said that with more than 97 percent of votes counted, Erdogan had an absolute majority. Turkish President Recep Tayyip Erdogan waves to his supporters in Istanbul, Turkey .

Captain Kane delivers for England on big stage
Former England worldwide Gary Neville has lavished praise on striker Harry Kane after his hat-trick in the World Cup on Sunday. They are architecturally attractive ", Southgate said.

Brexit Bill clears Parliament after May heads off backbench revolt
The government's Brexit bill has passed through Parliament after Theresa May saw off a revolt by Tory MPs. Peers approved the government's proposal without a vote.

Uruguay vs. Saudi Arabia - Football Match Report
During their first two games, they have faced merely a handful of half chances, rather than an onslaught of goalscoring opportunities.

IOS 12 Will Share Precise Location Data For 911 Calls
This is particularly noteworthy due to the age of the emergency infrastructure, as former FCC chairman Tom Wheeler pointed out. Dispatchers will still ask callers the location of their emergency, but they'll be able to verify it faster, he said.

Moms breastfeed in front of ICE headquarters to protest Trump immigration policies
So as House leaders scrounge around for entirely meaningless votes on doomed pieces of legislation, the border crisis festers. And second, Trump (or the Justice Department) could end the crisis instantly by reversing Sessions's May order.

European Union to begin counter trade tariffs against U.S. on Friday
The targets include steel, agricultural and other products, including bourbon, peanut butter, cranberries and orange juice. . The EU tariffs came into force just a week after China accused the United States of starting a trade war.

England midfielder Dele Alli bei.onitored after suffering thigh injury against Tunisia
England played well for the first 25 minutes but struggled after Tunisia equalised after converting a penalty from the spot. If they don't think that was a penalty, we have to deal with that.