Tuesday, 11 December, 2018

United States may use emergency law against China investments, says Bloomberg

Donald Trump is set to stop Chinese companies from investing in US technology firms GETTYDonald Trump is set to stop Chinese companies from investing in US technology firms
Orlando Vargas | 26 June, 2018, 19:14

Both China and the European Union are coming under pressure from Trump, as the United States president seeks to remake a global trading system that he sees as rigged against the world's largest economy.

Separately, France and China also upgraded their bilateral trade relations this week, with Beijing promising to buy more French farm produce and continue talks over the purchase of billions of dollars worth of Airbus jets, according to Reuters.

It also said it would unveil a revised list of Chinese goods for tariffs, which it did on June 15.

He said investors should be bullish on the United States economy, claiming Trump's aggressive trade maneuvers had created new domestic investment.

The financial hit from duties on US$250-billion worth of Chinese imports, US$50-billion of aluminum and steel imports and US$40-billion of European automobile imports could cost USA businesses and consumers an estimated US$50-billion - erasing some of the impact of recent USA tax cuts and eroding economic growth forecasts.

On Wall Street, the Dow Jones Industrial Average .DJI fell 328.09 points, or 1.33 percent, to 24,252.8, the S&P 500 .SPX lost 37.81 points, or 1.37 percent, to 2,717.07, and the Nasdaq Composite .IXIC dropped 160.81 points, or 2.09 percent, to 7,532.01.

He said markets have misunderstood the president's plans. That could include holding goods in ports or hold up approvals.

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She also said that visiting with the children was touching and the kids were in good spirits despite the hard circumstances. The green hooded spring military jacket has the words written graffiti-style on the back. "There was no hidden message".


"Apple's $US40b market in China for iPhones, the largest in the world, could quickly collapse", Peterson Institute for International Economics senior fellow Nicholas Lardy says.

While Harley is only one example, Lim believes the trade war is "likely to increase discrimination against USA companies in China".

A senior European Commission official said on Saturday the European Union would respond to any USA move to raise tariffs on cars made in the bloc. In recent years, it has advanced plans to open factories in countries including Brazil and Thailand to hold down prices, as sales falter in the US.

The EU riposted last week against emblematic American exports in response to United States tariffs on steel and aluminium. Harley Davidson shares fell 6.0%.

Strategists at Bank of America Merrill Lynch pointed out that a yield curve inversion (where 2-year bond yields are higher than 10-year bond yields) have preceded all seven of the past recessions, going back to 1970. If the policy is global but only really effects China, then what's the difference?

"We've moved away from the synchronous global expansion", says Principal Global Investors chief global economist Bob Baur, who believes global growth peaked around February of this year but that "the USA is still gaining momentum".

The Stoxx Europe 600 declined 2%, with Germany's sliding 2.5% after the monthly Ifo Business Climate Index showed business sentiment deteriorated further in June.

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