Monday, 17 December, 2018

Markets rise as Xi calms trade war fears

Reporters at media centre of Boao Forum for Asia watch Chinese President Xi Jinping delivering his speech at the annual forum in Boao Markets rise as Xi calms trade war fears
Andrew Cummings | 10 April, 2018, 19:44

In a Twitter post on Sunday, Trump echoed this, saying 'China will take down its trade barriers because it is the right thing to do.

On the popular Chinese internet forum KD Net, where users frequently discuss current affairs, an article has been making the rounds, titled, "Why do so many people in China support Trump fighting a trade war?"

Strains over US complaints that China is flooding global markets with unfairly low-cost goods and pressuring foreign companies to hand over technology have spiraled into the biggest trade conflict since World War II.

"China will take down its Trade Barriers because it is the right thing to do", Trump said.

Mr Xi said Beijing will "significantly lower" tariffs on auto imports this year and ease restrictions on foreign ownership in the vehicle industry "as soon as possible".

China's latest tariff announcement, the one on April 4 on the $50 billion of USA products, came hours after President Donald Trump announced us tariffs on a similar number of Chinese products. Earlier in the week, Trump threatened to introduce tariffs against China worth up to $150 billion annually. The U.S. bought more than $500 billion in goods from China a year ago and now is planning or considering penalties on some $150 billion of those imports.

The Trump administration has said it is taking action as a crackdown on China's theft of US intellectual property.

In a separate interview on "Fox News Sunday", Kudlow acknowledged "jitters" but insisted "we're not gonna to end up in a trade war".

"There is no way for us to address China without absorbing some pain here", Graham said.

Hours later, Trump ordered his administration to consider $100 billion in new tariffs in response to Chinese retaliation.

Latest Forecast: Scattered Rain & Snow Showers Through Monday
The work week starts off with more of the same with highs in the mid 40s but it's Monday night where we'll get a dose of snow. By Tuesday a ridge of high pressure will take over Colorado and it will bring much warmer weather and plenty of sunshine.

Apple reportedly developing gesture controls, curved screens for iPhones ars_ab.settitle(1287905)
However, the technology is at least two years away from entering mainstream production, given Apple decides to proceed with it. The design may reverberate the "ZTE Axon M" of 2017, a dual-screen smart handset, which folds out into a bigger screen.

Mall Owners In Bid To Buy Bon-Ton
Bon-Ton said in a news release that it intends to hold an auction on April 9, with sale to be approved by a court on April 13. On March 30, Bon-Ton announced that it was in active discussions with companies interested in a bid to purchase Bon-Ton.

Risk aversion subsides as Chinese President Xi signals concessions in trade dispute with U.S.

'We call on the worldwide business community including the United States industrial and commercial circles to take prompt and effective measures and urge the USA government to correct its errors, ' it said. Kudlow said new tariffs have only been proposed, and are now undergoing a public preview process; no final decisions have been made.

Trump is facing mid-term elections in November, while Xi has just begun his second term as president with an option to rule for life and probably wants to expand his clout overseas. Also, China is making it known that the enormous domestic economy will shield the nation from any efforts by America - not ignoring the enormous holding of American debt that China holds. "And we can only achieve win-win results by insisting on peaceful development and working together", the Chinese leader said.

Bad timing for trade warThis year US farm income is forecast by USDA to be half of what it was in 2013.

"Up to now, Chinese and U.S. officials have not held any negotiations on the trade dispute", China's Foreign Ministry spokesperson Geng Shuang said, according to AFP. China has pledged to "counterattack with great strength" if Trump decides to follow through on that threat.

Trump has also said the ongoing trade dispute may generate "a little pain" in the short term, including big losses on Wall Street.

He added that Trump and Xi have a "very close relationship" and that the United States and China would continue to discuss trade issues.

"Our farming community is on the front lines, but we've got to stick with it", the senator said.

"We will not bully our neighbors", the president said.

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