Economy

China trade war affects PHL economy

China trade war affects PHL economy

"Our analysis indicates that such a further escalation of the trade dispute to include $200 billion of imports could reduce real GDP growth by roughly -0.2 to -0.3 percentage points", the trio said in a note to clients.

Aerospace company Boeing dropped 3.5 percent to $342.37 and construction and mining equipment maker Caterpillar shed 3.4 percent to $143.58. Britain's FTSE 100 dipped 0.4 percent to 7,605.

The global sell-off came after President Donald Trump threatened to put tariffs on another $400 billion in imports from China, and the Chinese government said it would retaliate.

The small-cap Russell 2000 index, whose components are more domestically focused than large-cap companies, edged up 0.1 per cent. Sectors seen as bond proxies due to their high dividend yields, such as utilities, telecoms and consumer staples, advanced.

The euro traded at $1.1597, not far from a recent two-week low of $1.1543 after the European Central Bank suggested it would hold off raising interest rates through the summer of next year.

Stocks are trading lower at midday Tuesday on fresh worries about a trade dispute between the US and China, although they've recovered somewhat from an early slump.

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Kevin Yoder (R-KS), in a letter to Attorney General Jeff Sessions , is calling for the administration to halt the separation of families .

The Dow Jones industrial average and the Nasdaq composite index have each dropped more than 1.4 percent in early trading. China's market is big enough to support the development of relevant industries.

The chamber also called for bilateral investment talks between Beijing and Brussels to be sped up to address the long-term concerns of European businesses over uneven treatment in regulation and investment. Commodities such as oil, copper and soybeans fell. About 60 percent of US soybean exports go to China. Stock markets in Asia fell sharply on Tuesday, with Shanghai faring the worst, down 3.8 per cent. And, just as the United States did, China has "proposed" to impose an additional duty of 25 percent on a second list of USA -origin products across 114 tariff lines.

To respond to Trump's threat to impose tariffs on as much as $250 billion worth of Chinese goods, Beijing would have to find other ways to respond.

Case in point: The White House threatened China with another round of punitive tariffs - right before Chinese President Xi Jinping met with North Korean leader Kim Jong-un.

Worldwide markets slumped, with China-focused stocks hard hit. The Hang Seng index in Hong Kong lost 2.8 percent.

The Canadian dollar averaged 75.32 cents United States, down 0.39 of a USA cent, as it continues to face the twin pressures of rising U.S. rates and trade fears, especially related to NAFTA.

Hawks leaning towards Doncic with third overall pick
You put him in a ball screen, middle of the floor, with a good roller, it's a really tough cover. Currently, the Atlanta Hawks and Memphis Grizzlies hold the 3rd and 4th picks, respectively.

That deadline has been extended several times as Canada and Mexico struggle to accommodate far-reaching US demands for change, such as a sunset clause that would allow one nation to pull out after five years.

Wall Street stocks tumbled in opening trading on Tuesday as fresh tariff threats by the United States and China against each other exacerbated trade war fears.

If the United States loses its rationality and unveils another list of Chinese products for additional tariffs, China will have no choice but to take comprehensive measures combining quantitative and qualitative ones to resolutely strike back, a spokesperson of the Chinese Commerce Ministry said.

The Trump administration said Friday that it will impose a 25% tariff on $50 billion of Chinese exports.

China's retaliation list was increased more than six-fold from a version released in April, but the value was kept at $50 billion, as some high-value items such as commercial aircraft were deleted.

Laura Bush says ‘zero tolerance’ immigration policy is ‘cruel’
Children are not detained with their parents when those parents are facing a criminal charge, as per US protocol. "I hate it. She singled out the zero tolerance policy as not being the answer, calling it " cruel " and "immoral".


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