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Posts Tagged ‘tariffs’

Tariff roll back or not? Markets certainly don’t know.

The uncertainty extends even to whether or not a Part 1 trade deal between the United States and China will even get signed in 2019. Yesterday, China’s Ministry of Commerce spokesman Gao Feng said negotiators had “agreed to remove additional tariffs in phases as progress is made on the agreement. And White House economic adviser […]

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Trick or Trend: Does the Chinese cancellation of a planned farm tour mark a swing back to trade pessimism.

Our regular (or occasional or perhaps occasionally regular) Friday series (actually running on Saturday this week) Trick or Trend looks at what might (or might not) be emerging investible trends. Exclusively on JAM. This post won't run anywhere else. Ever. It was supposed to be a good will gesture. Does that make the cancellation of […]

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With newest tariff move Chinese prove again that they’re smart negotiators

Ahead of the resumption of U.S.-China trade negotiators next month China has announced a small set of exclusions--on $1.65 billion in U.S. exports to China--from 25% tariffs that were put into place last year. The exempt goods include such minor categories as alfalfa, fish meal, pharmaceuticals, and lubricant oil. The exemptions don't include any action […]

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Saturday Night Quarterback says (on a Sunday), For the week ahead expect…

... some things in the financial markets will be so similar to what they were before the Labor Day holiday that you might think you were never away at all. Not everything, though. Yes, the U.S.-China trade war will still be hanging fire. And the tariffs on $112 billion in Chinese imports that went into […]

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As promised: Trump announces retaliation this afternoon to this morning’s new tariffs from China

That didn't take long. This afternoon President Donald Trump said he would raise tariffs to retaliation to this morning's move by China to impose a new 10% tariff on $75 billion in U.S. exports to China. Trump's move would increase tariffs already in effect on $250 billion in imports from China to 30% from 25% […]

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China retaliates; Trump promises his retaliation to their retaliation this afternoon

Xi Jinping and Donald Trump upstaged Federal Reserve chair Jerome Powell this morning. Powell's Jackson Hole speech this morning was supposed to be the day's big market event. (More on this speech in a later post.) But this morning China announced that it would retaliate to the last round of additional 10% tariffs on $300 […]

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Latest figures show U.S. farmers taking big hit from Trump trade war with China–just what the U.S. economy doesn’t need

A U.S. economy facing the possibility of a slowdown sure doesn't need troubles in the Farm Belt. But that's exactly what the farm sector is seeing. New figures from the U.S. Department of Agriculture show that farm income in 2018 was about 50% of what it was in 2013. And thanks to the Trump administration's trade […]

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The drop in job openings worries me more than an inverted yield curve

The Dow Jones Industrial Average closed down 800.49 points today, or 3.05%; the Standard & Poor's 500 finished 2.93% lower; and the NASDAQ Composite lost 3.02%. One reason for the plunge was an intraday inversion in the Treasury yield curve with the yield on the 10-year Treasury dropping below the yield on the 2-year Treasury.(For […]

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Market rallies: Nothing matters but tariffs

Just in case you were wondering: Nothing matters to the stock market except tariffs. I think today's trading proves that. This morning the Trump administration announced that it would delay new 10% tariffs on $300 billion in Chinese goods set to go into effect on September 1 until mid-december for an unspecified list of Chinese […]

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People’s Bank signals its goal of an orderly retreat in China’s yuan, and markets recover–somewhat

Stocks rallied today on signs that the People's Bank intends to deliver an orderly drop in China's currency. This morning the yuan traded slightly above the critical 7 yuan to the dollar currency band. And the bank said it will sell $4.2 billion in yuan bills in Hong Kong on August 14. A debt sale […]

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