Stocks steady after early plunge on trade war fears

05 April, 2018, 01:49 | Author: Shannon Aguilar
  • Trade war with China: What you need to know

That's in response to 1,300 Chinese products that might be subjected to 25 percent tariffs from the U.S. Here are some of the winners and losers.

"Now, we have a trade deficit of 500 billion dollars a year, with Intellectual Property Theft of another 300 billion dollars".

China's Commerce Ministry also threatened to take legal action against the USA through the WTO, and urged Washington to "pull back from the brink, make prudent decisions, and avoid dragging bilateral trade relations to a risky place".

Beijing was responding to an announcement hours earlier by Trump's administration outlining proposed tariffs on 1,300 imported Chinese products, including industrial robots and telecoms gear, to protest China's alleged theft of us technology.

Publication of Washington's list starts a public comment and consultation period expected to last around two months.

Oil dropped to a two-week low as the speed with which Beijing responded - 11 hours - to US measures raised the prospect of a quickly spiraling trade war that could hurt the global economy and dent crude demand. "USA footwear tariffs stifle innovation and job creation and raise the cost of shoes for every American".

U.S President Trump had only recently stated that it was easy to win a trade war. In response, China on Sunday slapped tariffs on $3 billion on agricultural products from the US including hog parts, wine, fruit and nuts. "While U.S. tariffs on all consumer goods average just 1.3 percent, they average 11 percent for footwear and reach rates as high as 67.5 percent".

Asked to explain the President's tweet and if he agreed with the sentiment that you can't lose a trade war, Kudlow replied: "I'm not sure what exactly he's referring to".

China hits USA soybeans, cars, planes with retaliatory tariffs
The yield on the 10-year US Treasury note fell to 2.76% as investor demand for the steady returns of bonds shot up their prices. China expresses " strong dissatisfaction " over the decision, adding that it "aggravates the global trade environment".

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Liverpool are the only team to beat Man City in the Premier League this season as they earned a remarkable 4-3 victory in January. The Belgian playmaker said: "If they score you know it is going to get a bit more heated than if we score".

Brown Brothers Harriman's chief currency strategist Marc Chandler said via Twitter that the key now is "whether the USA retaliates against China's retaliation".

When reports surfaced last month that President Donald Trump planned to impose sweeping tariffs on imports from China, 82 footwear retailers, including Nike, Wolverine Worldwide and Clarks, sent a letter to the White House expressing "strong concern".

The Distilled Spirits Council asked the US and China to reach a resolution without subjecting USA whiskey to more tariffs which it said would harm Chinese consumers, its hospitality sector and US whiskey exporters. David Petraeus considered the situation and said to a reporter, "Tell me how this ends". The tariffs on US soybeans could ultimately drive up costs for Chinese pig farmers and meat prices for 1.3 billion citizens.

US benchmark 10-year notes fell 2/32 in price to yield 2.7917 percent.

Oil prices slipped with Brent crude futures off 75 cents to $67.38 a barrel, while US crude fell 73 cents to $62.78 a barrel.

Trump has consistently attacked China for the large trade deficit between the two nations, which totaled $375.2 billion in 2017, and requested the Chinese government find a way to shrink the gap by $100 billion.

And both the United States and China acknowledge they are in active negotiations.

There are options at home, including tapping the government's emergency strategic reserves and rejigging the ingredients that go into feed, analysts, experts, traders and buyers at feed mills say.

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