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Keyword: trade

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  • Trump Wants to Make America a ‘Manufacturing Superpower’ Without Reliance on China

    10/14/2020 7:51:34 PM PDT · by SeekAndFind · 6 replies
    Epoch Times ^ | 10/14/2020 | Jack Phillips
    President Donald Trump said that if he is reelected, his administration will attempt to reduce U.S. dependence on Chinese manufacturing and bring those jobs back to the United States. “We will make America into the manufacturing superpower of the world, ending reliance on China once and for all,” Trump said Wednesday during an event with the Economic Club of New York and other chapters. In his remarks, the president said he would reward companies that move their jobs to the United States and punish firms that oppose the measure. “We will keep taxes low for companies that move jobs to...
  • Is Nasdaq moving some of its operations to D-FW? Governor says talks held for state

    10/08/2020 12:42:10 PM PDT · by DFG · 28 replies
    WFAA (DFW) ^ | 10/08/2020 | Brian Womack
    Could North Texas be getting some of Nasdaq’s systems? Gov. Greg Abbott said Tuesday that the Lone Star State could be in the mix. “I've been talking with the Nasdaq stock exchange about moving some of their operations to Texas,” Abbott said in the message on Twitter. “They want to flee high taxes. I let them know that we just passed a constitutional amendment banning an income tax in Texas.”
  • US Trade Deficit up to $67.1 Billion in August 2020, A 14-Year High

    10/06/2020 12:07:30 PM PDT · by SeekAndFind · 6 replies
    Associated Press via US News and World Report ^ | 10/06/2020 | BY PAUL WISEMAN, AP Economics Writer
    <p>WASHINGTON (AP) — The U.S. trade deficit rose in August to the highest level in 14 years.</p> <p>The Commerce Department reported Tuesday that the gap between the goods and services the United States sells and what it buys abroad climbed 5.9% in August to $67.1 billion, highest since August 2006. Exports rose 2.2% to $171.9 billion on a surge in shipments of soybeans, but imports rose more — up 3.2% to $239 billion — led by purchases of crude oil, cars and auto parts.</p>
  • Chinese anger at US rare earths order - Washington wants to speed up local production to reduce reliance on Chinese imports

    10/03/2020 6:40:30 AM PDT · by cba123 · 86 replies
    ATF ^ | Today | Chris Gill
    (ATF) China has responded angrily to a US executive order to look into the country's dependence on rare earths from China. Reuters reported the order announced Wednesday could lead to tariffs, quotas or other possible import restrictions, according to the executive order released on Wednesday. In China the news was met with irritation. Tencent news, for instance, said the US had “entered a state of national emergency”. China does lead exports and has the top position in production of the group of elements that are is a vital material for the manufacture of technology products from mobile phones to military...
  • Industry leaders bullish on border manufacturing, chances of ‘reshoring’ jobs from China

    10/01/2020 6:27:31 PM PDT · by BeauBo · 9 replies
    Border Report ^ | Sep 30, 2020 | Julian Resendiz
    Border industry is poised for explosive growth in the next few years, as companies take heed of lessons learned in the COVID-19 pandemic and relocate more production to North America, trade experts say. Many U.S. manufacturers who get supplies from China experienced delays during the pandemic, which added to brewing concerns over already tense trade relations between both countries. “We have a huge number of U.S. companies doing business with China. […] Any number of consumer goods come from China but all those companies are coming under the realization that there is trade tensions that are going to continue regardless...
  • SEC penalized BMW $18 million for disclosing inaccurate and misleading retail sales information

    09/30/2020 5:14:15 PM PDT · by buckalfa · 3 replies
    Upstate Business Journal ^ | September 28, 2020 | Alex Cooper
    The Securities and Exchange Commission announced on Thursday, Sept. 24, that it had settled charges against BMW for disclosing inaccurate and misleading information about the automaker’s retail sales volume here in the United States as it raised around $18 billion from investors. BMW — the German-based automaker BMW AG and two U.S. subsidiaries including BMW of North America and BMW US Capital — inflated its reported sales, which then helped the company decrease the gap between its actual sales and internal targets, according to a release by the SEC. The inflated sales also kept BMW in a “leading sales position”...
  • China's No.2 developer Evergrande pleads for government support to avoid cash crunch

    09/26/2020 11:52:33 AM PDT · by BeauBo · 10 replies
    Reuters ^ | September 24, 2020 | Reuters Staff
    Debt-laden China Evergrande Group, the country’s second largest property developer, has pleaded for government support to approve a restructuring plan that has languished for four years, warning it faces a cash crunch that could lead to systemic risks, according to people familiar with the matter. The company, the most indebted developer in China, made the request in a letter to the government of southern Guangdong province dated Aug. 24, according to three people who confirmed the letter’s authenticity... Sources said Evergrande’s letter had asked the local government to support its plan to gain a listing for Hengda on China’s A-share...
  • Party of the Little Guy? Why Wall Street shamelessly favors Joe Biden.

    09/24/2020 2:59:06 PM PDT · by Vigilanteman · 10 replies
    An e-mail ^ | 24 September 2020 | My brother-in-law
    Just sharing this with you because it is something I need to learn how to do more often. and more importantly, do it. If you don't have an account with Schwab or other zero commission broker, you need to get one. The pattern is basically this: (1) Watch a few (probably no more than 3 dozen) stocks which (a)trade a lot, (b)have some strong swings, (c)are basically good investments. (2) When news happens which causes a unusual swing (40% in this case, 5% in a more typical case), take the opposite position as the market because such swings are almost...
  • Biden threatens UK trade deal over Brexit shambles

    09/22/2020 11:46:34 AM PDT · by Olog-hai · 13 replies
    EU Observer ^ | 17 Sep. 2020, 17:19 | Andrew Rettman
    Britain’s US trade deal is in jeopardy if the UK endangers Northern Ireland peace over Brexit, US Democratic presidential candidate Joe Biden has said. “We can’t allow the [1998] Good Friday Agreement that brought peace to Northern Ireland to become a casualty of Brexit,” Biden said on Wednesday (16 September). “Any trade deal between the US and UK must be contingent upon respect for the agreement and preventing the return of a hard border. Period,” he added. Biden spoke out during a visit by British foreign secretary Dominic Raab to Washington. The Democrats’ concern comes after the UK threatened to...
  • General Motors Facing Setbacks In Sale Of India Plant To China’s Great Wall Motor

    09/17/2020 10:08:09 AM PDT · by BeauBo · 8 replies
    GM Authority ^ | SEP 17, 2020 | SAM MCEACHERN
    According to Reuters, it is unlikely that General Motors will gain approval from the Indian government to sell the plant to China’s Great Wall Motor at this time due to various political conflicts between the two countries. India has enacted new rules aimed at preventing Chinese companies from buying struggling Indian companies for cheap amid the COVID-19 pandemic, which could delay the approval process for the sale. Additionally, an ongoing conflict along the Sino-Indian border has led to further restrictions on Chinese investments in the country.
  • How China’s Medicinal Monopoly Leaves the World Vulnerable: Coronavirus has revealed America’s dependence on China for protective and medical supplies

    09/14/2020 11:53:29 AM PDT · by SeekAndFind · 7 replies
    Epoch Times ^ | 09/14/2020 | Maya Carlin
    The Chinese regime stunned the world this year with its gross misconduct and concealment of critical facts that led to the emergence and spread of COVID-19. Beijing’s stonewalling efforts directly resulted in the rapid spread of the novel coronavirus, the collapse of regional economies, and the inability of countries to prepare for and respond effectively to the outbreak. Even more concerning, as countries struggled to grapple with the burden of the virus, the regime used its medicinal monopoly as a tool to shut down dissent against its dangerous behavior.The COVID-19 pandemic exposed to the American people the dependence by our...
  • Major Deal After Brexit: UK Strikes Historic Free Trade Deal With Japan As Brussels Threatens To Abandon Talks

    09/11/2020 8:02:55 AM PDT · by SeekAndFind · 7 replies
    Nation and State ^ | 09/11/2020 | Tyler Durden
    After a solid nine-month stretch that was blissfully devoid of major Brexit-related news as the global COVID-19 pandemic raged on, we declared last night that Brexit talks "suddenly matter again" as the drop in the pound was blamed - incorrectly, as Bloomberg later determined - for triggering yesterday's intraday declines in US markets. But on Friday morning, American traders awoke to some surprisingly positive trade news out of Great Britain. A trade deal with Japan had been agreed to in principle, which would - if finally ratified by both countries - allow 99% of the UK's exports to Japan...
  • Donald Trump: Joe Biden ‘Devoted His Career to Offshoring’ American Jobs to China

    09/09/2020 11:45:39 AM PDT · by mplc51 · 12 replies
    Breitbart ^ | 09/09/2020 | John Bonder
    Democrat presidential candidate Joe Biden “devoted his career to offshoring” American jobs, President Donald Trump said during a rally in Winston-Salem, North Carolina. “Joe Biden devoted his career to offshoring new jobs, throwing open your borders and dragging us into endless foreign wars and surrendering our children’s future to countries like China,” Trump told the crowd on Tuesday evening.
  • The WTO Should Continue to Fade Away

    09/09/2020 6:37:08 AM PDT · by Kaslin · 3 replies
    American ^ | September 9, 2020 | William R. Hawkins
    Roberto Azevedo stepped down as director-general of the World Trade Organization (WTO) on August 31, becoming the first to do so before the end of his term. Azevedo's surprise announcement was made in May, and the Brazilian was in the third year of his second four-year term. Eight candidates from Africa, Asia, Europe, and Latin America are vying for the post, but world events are rapidly making this competition irrelevant. There is no U.S. candidate, nor does there need to be one, as Washington should shun the WTO as an organization that is not just useless, but illegitimate. The WTO...
  • Trump oversees economic deal that sees Kosovo recognize Israel, Serbia move embassy to Jerusalem

    09/04/2020 9:23:50 AM PDT · by rdl6989 · 61 replies
    Fox News ^ | Sept 4, 2020 | Adam Shaw
    President Trump on Friday oversaw an agreement between Serbia and Kosovo that normalizes economic relations between the two countries, and that also includes Kosovo recognizing Israel and Serbia moving its embassy to Jerusalem. The Belgrade-Pristina deal was then signed by their two leaders in front of Trump in the Oval Office. “Truly, it is historic,” Trump said. “I look forward to going to both countries in the not too distant future.”
  • US and Taiwan to work on reshaping supply chains away from China

    09/04/2020 11:29:10 AM PDT · by RomanSoldier19 · 12 replies ^ | September 4, 2020 | By Jasyson -
    Officials from the US, EU, Japan and Taiwan have actually required co-operation in reconstructing worldwide supply chains after the US-China trade war and the coronavirus pandemic exposed the threats of relying on China. Speaking at a conference in Taipei on Friday, Brent Christensen, director of the American Institute in Taiwan– the US’s quasi embassy– advised democracies with shared worths to develop more protected supply chains together in other places. “This is going to require a co-ordinated effort from all of us,” he stated. Mr Christensen included that the concern of reorganising supply chains was “on top of the list” for...
  • Indo-China trade relations in focus as border face-off intensifies

    09/03/2020 10:41:02 AM PDT · by BeauBo · 4 replies
    US News ^ | Sep 3, 2020 | Reuters
    India banned 118 more mostly Chinese apps on Wednesday, a move that could intensify simmering tensions between the two countries following a recent deadly skirmish at a disputed Himalayan border site, and raising concerns about the longer-term impact of $82 billion of trade. The latest apps include Tencent Holdings Ltd's popular videogame PUBG. India imported $65.3 billion worth of goods from China in the fiscal year ended March 2020, and exported $16.6 billion, according to the country's Commerce ministry... India has also been planning to impose higher trade barriers and raise import duties on around 300 products from China and...
  • THIS IS NOT A DRILL – A Long Story About A Short Meeting To Save US Shipping

    09/02/2020 10:44:32 AM PDT · by fishtank · 13 replies
    gCaptain ^ | 9-2-2020 | John Konrad
    THIS IS NOT A DRILL – A Long Story About A Short Meeting To Save US Shipping September 2, 2020 by John Konrad EDITORIAL NOTE: Some elements of this story have been fictionalized for brevity. OP-ED By John Konrad (gCaptain) Those five words have special meaning. They motivate like no other. They ring for years in the sweat-soaked nightmares of any sailor who has ever heard them. They excite and calm. Words have power and meaning but few words have more meaning to sailors than these five. The first step required to rebuilding the US Merchant Marine is for a...
  • US manufacturing grows at fastest rate in nearly 2 years, backing up hopes for V-shaped rebound

    09/01/2020 7:03:48 PM PDT · by BeauBo · 33 replies
    Business Insider ^ | September 1, 2020 | Ben Winck
    The US manufacturing industry accelerated its growth through August as factories reopened and supply chains recovered. The Institute for Supply Management's purchasing managers' index gained to 56 last month from 54.2, according to a Tuesday report. The expansion is the PMI's fastest in nearly two years. Economists surveyed by Bloomberg expected a reading of 54.8. The firm's New Orders Index climbed to 67.6 from 61.5, its highest point in more than 16 years.
  • US Firms Move Supply Chains Out of China, Explore Options Closer to Home

    09/01/2020 7:29:50 AM PDT · by Blood of Tyrants · 27 replies
    The Epoch Times ^ | 8/31/2020 | Emel Akan
    WASHINGTON—The U.S.–China trade war and the COVID-19 pandemic have forced companies to reduce their excessive dependence on China as a single supplier. U.S. brands have started to explore sourcing options closer to home, with Latin and South America gaining significant traction in recent months, according to a survey by Qima, a Hong Kong-based supply chain inspection company. The survey conducted in July among more than 200 businesses around the world found that respondents are increasingly moving their sourcing away from China. Ninety-three percent of U.S. respondents reported that they had plans to further diversify their supply chains. Meanwhile, less than...