So much for that U.S-China trade truce
The Trump administration has announced higher tariffs on $50 billion in Chinese export and promised additional restrictions on Chinese investments. China immediately promised to impose tariffs with "equal scale, equal intensity" on U.S. exports. The Commerce Ministry...
Markets today “seem” to say North Korea summit more important than G7 explosion
At 2 p.m. New York time the Standard & Poor's 500 stock index was up 0.3%. The Dow Jones Industrial Average was ahead 0.22%. And the NASDAQ Composite index had inched higher by 0.27%. Which is surprising given that the Group of 7 meeting ended Saturday with the...
Emerging markets “emerging” as focus of worry over trade, strong dollar, credit crunch
If you can't tell from the cascade of negative commentary, you certainly should be able to tell from trend in share prices: emerging markets have become the focus of current worries about global trade, the effects of a strong dollar, and the potential for a credit...
Today the market is cutting risk ahead of possible G7 turmoil
Yesterday the story was that the market rallied on belief/hope that the leaders of the Group of 7 economies due to meet on Friday and Saturday of this week would not allow trade tensions to escalate into a full born trade war. Today it looks like investors and traders...
Trade deficit falls for April–not enough to take the heat out of increasingly hot tariff wars
The U.S. trade deficit narrowed more than expected in April. The deficit fell to $46.2 billion. Economists surveyed by Briefing.com had expected $48.8 billion. The March deficit was revised to $47.2 billion from an earlier report of $49 billion. The trade deficit with...
Today markets don’t care about trade or tariffs–but what about if the G7 meeting explodes this Friday?
The Group of 7–Canada, France, Germany, Italy, Japan, the United Kingdom, and the United States–is scheduled to meet on Friday, June 8, and Saturday June 9 to discuss, in theory, global economic growth. In reality, the group will discuss trade, U.S. tariffs, and U.S President Donald Trump’s trade policies.
Saturday Night Quarterback says (on a Sunday), For the week ahead expect…
If the markets do decide that Italy is a problem for another day, that means we’ll revert to the trends that set direction before the crisis gained top of the mind status: oil prices (and the likelihood of an increase in production from OPEC), an interest rate increase from the Federal Reserve on June 13, and tariffs and the possibility of a U.S./China trade war.
Temporary exemptions done; Trump administration imposes steel and aluminum tariffs on EU, Canada, and Mexico
Just hours before temporary exemptions on steel and aluminum imports from the European Union, Canada and Mexico were due to expire at 12:01 a.m. on Friday, the Trump administration has imposed the 25% and 10% tariffs on those imports originally announced in March. Those countries and other U.S. allies and trading partners had been granted temporary exemptions from the tariffs.
Has someone in Beijing read The Art of the Deal?
The next move that would increase China’s leverage–according to then real estate tycoon Donald Trump’s book–would be to cancel the talks scheduled to begin on Wednesday in preparation for the arrival of a U.S. delegation led by Commerce Secretary Wilbur Ross. If those preparatory talks fail to reach agreement on an outline of topics the June 2 trip by Ross could be canceled, the Wall Street Journal is reporting today.
So much for the China tariff truce
Just a week after U.S. Treasury Secretary Stephen Mnuchin declared  a “truce” in President Donald Trump’s tariff war with China, today the White House has announced that it plans to put a 25% tariff on $50 billion in Chinese exports to the United States.  By June 15, the Trump Administration will release a list of some $50 billion worth of Chinese goods that will be subject to a 25% percent tariff
Market shrugs off President Trump’s decision to cancel June 12 North Korea summit
Unless you’re invested in South Korean equities, President Donald Trump’s decision to cancel the June 12 summit with North Korea is a non-event in today’s financial markets. The iShares MSCI South Korea Capped ETF (EWY) was indeed down 1.60% as of 3 p.m. New York time, but the wider iShares MSCI Emerging Markets ETF (EEM) is off just 0.61% and U.S. indexes are lower by even small amounts with the Standard & Poor’s 500 down 0.18%
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