US - Trade War (China)

[behappyalways]

1 year after the US-China trade war started, who are the real winners?
https://www.youtube.com/watch?v=3daDawX-WxU

[winston]

Trump's trade war with China is damaging the US economy: top economist

by Brian Sozzi

The report Zandi referenced is the June ADP employment figures released Wednesday. The U.S. private sector added a disappointing 102,000 positions in June, lower than the 140,000 positions Wall Street was predicting.

Last month’s reading represented the smallest increase in private positions since the start of the economic expansion.

While larger businesses were adding, small businesses with fewer than 50 employees saw a drop of 23,000 positions. Meanwhile, businesses with 19 or less employees reduced payrolls by 37,000 positions.

The sector that continues to see weakness was the goods-producing sector, with construction falling by 18,000 positions.

Within the services-producing sectors, leisure and hospitality added a meager 3,000 positions in June.

Source: Yahoo Finance

https://finance.yahoo.com/news/trumps-t ... 23117.html

[behappyalways]

US-China trade war: hardliners in Beijing are gaining influence
https://www.scmp.com/week-asia/opinion/ ... -influence

[behappyalways]

2019.07.06【文茜世界周報】川普對中讓步緩解緊張　美鷹派不滿稱將反撲
https://www.youtube.com/watch?v=qeC6Y-- ... AU&index=9

[winston]

Trump: PRC Not Buying US Crops as Promised

US President Donald Trump said on social media that China is not buying agricultural products from the U.S. as promised, and they should start the purchase soon.

White House Economic Adviser Larry Kudlow told Reuters that China may start purchasing U.S. farm products and services very soon.

Source: AAStocks Financial News

[behappyalways]

US-China trade war forces some Chinese factories to move to Southeast Asia
https://www.youtube.com/watch?v=4et67P4g5xY

[winston]

Trump: Trade Talks with China Still Long Way to Go; Capable of Imposing Tariffs

US President Donald Trump said at a Cabinet meeting at the White House that the US and China still have a long way to go to reach a trade agreement, according to foreign media reports.

The US is capable of imposing levies on an additional US$325 billion worth of Chinese products if necessary.

The President suggested China was supposed to purchase American farm products, adding the government is closely watching to see if China fulfills her promise.

Source: AAStocks Financial News

[winston]

China to boost soybean purchases

The Chinese government is in discussions with state and privately-owned soybean buyers, over a plan to raise purchases of US supplies, according to people familiar with the situation.

The government met with the companies on Friday in Beijing to discuss the plan, which could include waiving retaliatory tariffs on US imports, said the people.

The government is seeking feedback from companies and the proposal is subject to change depending on progress in trade talks. Details including potential purchase volumes are yet to be finalized.

Xinhua wrote in a comment that procurement of the US agriculture products is a manifestation of China's commitment to promises, and is a response to the recent positive signals released by the United States, prompting both sides to move in the right direction to solve the trade disputes.

Meanwhile, anti-dumping tariffs of 18.1 percent to 103.1 percent will be applied to stainless steel billets and hot-rolled stainless steel plates from companies in the European Union and the three Asian nations, effective today, China's Ministry of Commerce said yesterday.

In other news, the EU is set to block some countries from accessing parts of the bloc's financial market for the first time, an EU document seen by Reuters showed, a step that will ring alarm bells in Britain in the run-up to Brexit.

Source: The Standard

http://www.thestandard.com.hk/section-n ... 0723&sid=2

[winston]

Beijing's trade with the US tumbles by 33pc in first half

Beijing's trade with the United States fell by 33.9 percent to 85.59 billion yuan in the first half.

Overall foreign trade increased by 6.8 percent year- on-yearto 1.38 trillion yuan in the first half, local customs said today, Xinhua reports.

Imports grew by 7.8 percent on-year to 1.14 trillion yuan, while exports were up by 2.2 percent to 240.56 billion yuan, Beijing Customs said.

Trade with the European Union grew by 25.5 percent to 188.4 billion yuan and that with Australia increased 46.2 percent to 99.82 billion yuan.

The capital imported 213.52 billion yuan worth of mechanical and electrical products, down by 1.1 percent, and 86.46 billion yuan worth of high-tech products, down 4 percent.

Beijing exported 96.58 billion yuan worth of mechanical and electrical products from January to June, also down by 2.8 percent year on year.

The exports of mobile phones surged by 71.5 percentto reach 17.91 billion yuan.

Source: The Standard

http://www.thestandard.com.hk/breaking- ... 0726&sid=2

[winston]

Beijing agrees to buy more American farm produce, trade teams set September talks

US and Chinese negotiators wrapped up a brief round of trade talks in Shanghai today that Beijing described as “constructive,'' including discussion of further purchases of American farm goods and an agreement to reconvene in September.

The two sides also discussed increased purchases of US agricultural products by China according to its own domestic needs and favorable conditions to be offered by the US side for the purchase, Xinhua reported.

The first face-to-face trade talks since a ceasefire was agreed last month amounted to a working dinner on Tuesday at Shanghai’s historic Fairmont Peace Hotel and a half-day meeting today, before U.S. Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin flew out.

“Both sides, according to the consensus reached by the two leaders in Osaka, had a candid, highly effective, constructive and deep exchange on major trade and economic issues of mutual interest,” China’s Commerce Ministry said in a statement shortly after the US team left Shanghai.

The statement said negotiators discussed more Chinese purchases of agricultural products from the United States, which had become a bone of contention after U.S. President Donald Trump said China had not delivered on promised purchases.

The talks began amid low expectations, with Trump on Tuesday accusing Beijing on Twitter of stalling, and warning of a worse outcome for China if it continued to do so.

The two sides will reconvene in September in the United States, the Commerce Ministry said.

The U.S. side did not make an immediate statement.

Source: Reuters/Xinhua

http://www.thestandard.com.hk/breaking- ... 0731&sid=2