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European stocks fell Friday, with auto and bank shares among those losing ground as U.S. President Donald Trump threatened a significant expansion in tariffs on Chinese imports, underscoring concerns that a global trade war will crimp global economic growth and corporate profits. ---snip--- European stocks extended losses after Trump, in an interview with CNBC, said he’s “ready” to put tariffs on all Chinese goods imported to the U.S., which would amount to more than $500 billion. Trump had previously said he’s looking at targeting $200 billion in Chinese imports, and that would be on top of tariffs already in effect...

President Donald Trump has indicated that he’s willing to hit every product imported from China with tariffs, sending U.S. markets sliding before the opening bell Friday. In a taped interview with the business channel CNBC, Trump said “I’m willing to go to 500,” referring roughly to the $505.5 billion in goods imported last year from China. The administration to date has slapped tariffs on $34 billion of Chinese goods in a trade dispute over what it calls the nation’s predatory practices. Dow futures which had already been pointing modestly lower slid sharply after the comments were aired by CNBC early...

As President Trump made clear at the NATO summit with European leaders, “other countries trade barriers” have for years harmed U.S. businesses and hurt American workers while U.S troops have defended their borders. These same countries are now attacking criticizing the U.S. for levying its own tariffs to protect our own national defense. As some of America’s largest aluminum producers, we strongly support Trump’s leadership on the steel and aluminum tariffs to protect our own national security. Since Trump announced the historic tariffs in March, the American public has been inundated with “sky is falling” rhetoric from entrenched special interests...

Nucor posted the highest second-quarter profit in its history as the steelmaker ramped up output to meet demand from President Trump's 25 percent tariffs on imports from overseas competitors. The Charlotte, N.C.-based company has benefited as Trump's duties reduced so-called dumping of illegally subsidized metals in the U.S. from foreign producers, said Chief Executive Officer John Ferriola. China, in particular, has long been criticized for undercutting steel prices, which harms American manufacturers. "The tariffs send a clear message that the U.S. is done asking nicely for compliance with the rules of trade and is serious about demanding changes in the...

OTTAWA—Canadian Prime Minister Justin Trudeau on Wednesday shook up his cabinet to prioritize trade diversification, signaling Canada’s growing unease about U.S. trade policy just as it faces further tariff threats from the U.S. On Wednesday the U.S. Commerce Department launched a probe on whether uranium imports threatened national

The European Union says it is already preparing measures to retaliate against the United States if President Donald Trump puts tariffs on imported cars and auto parts. The auto industry is a big employer and exporter in Europe, and the new tariffs could hit the region hard, as well as consumers and manufacturers in the U.S., where prices would rise. ...snip For Europe, there is a lot at stake as companies like BMW, Daimler, Volkswagen, and Fiat Chrysler send $46.6 billion worth of vehicles every year to the U.S. Some 13.3 million people, or 6.1 percent of the employed population...

There’s a flip side to the U.S. trade deficit that President Donald Trump rails against—the flow of capital from abroad that covers that gap. It leaves the U.S. vulnerable to other kinds of retaliation. As the world’s biggest debtor, the U.S. depends on investors abroad to continue to invest in America. And among the biggest investors is the country that Trump is targeting for its big bilateral surplus with the U.S. and its alleged unfair trade practices: China. As the largest holder of U.S. Treasury securities, China helps fund both legs of the so-called twin deficits—the budget shortfall as well...

The Canadian government, lining the pockets of its dairy producers, imposes high tariffs on American dairy imports. That forces Canadians to pay higher prices for dairy products. For example, Canadians pay $5.24 for a 10.5-ounce block of cheddar. In Washington, D.C., that same amount of cheddar sells for $3.64. Canadians pay $3.99 for a 1-pound container of yogurt. In Washington, D.C., you can get nearly twice as much yogurt for a little over $4. It's clear that the Canadian government's tariffs screw its citizens by forcing them to pay higher prices for dairy products. What should the U.S. response be...

China’s economic growth slowed in the quarter ending in June, adding to challenges for Beijing amid a mounting tariff battle with Washington. The world’s second-largest economy expanded by 6.7 percent, down from the previous quarter’s 6.8 percent, the government reported Monday. Even before the dispute with Washington erupted, forecasters expected growth to cool after Beijing started tightening controls on bank lending last year to rein in surging debt. Economic activity is expected to decline further as global demand for Chinese exports weakens and lending controls weigh on construction and investment, major contributors to growth. Beijing has responded to previous downturns...

President Donald Trump is beating China in a trade war that could soon escalate, CNBC’s Jim Cramer said on Friday. “I think we're winning," the "Mad Money" host argued. "The market is saying we're winning.” On Tuesday, the White House released a list of 10 percent tariffs on $200 billion in Chinese goods, following through on Trump’s threat of additional punitive measures. Tariffs of that magnitude, which now undergo a two-month review, would basically equal all the goods the U.S. imports from China, which promised retaliatory action and pledged to lodge a complaint with the World Trade Organization. Cramer said...

President Trump’s administration has a “selfish” attitude toward intellectual property rights, a Chinese diplomat said Friday amid the White House's crackdown on IP theft. “No one has the monopoly over the application of IPR to promote social and economic development,” Chinese Foreign Ministry spokeswoman Hua Chunying told reporters. “Innovation and IPR shall be harnessed for the progress and benefit of all mankind, instead of being reduced to a tool used by the U.S. to suppress others' development and serve its selfish interests.”

When pork prices collapsed amid a global trade war during the Great Depression, the Roosevelt Administration in 1933 had an idea—slaughter six million piglets. Put a floor under prices by destroying supply. It didn’t work. Now the Trump Administration may try its own version of Depressionomics by using the Commodity Credit Corporation (CCC) to support crop prices walloped by the Trump tariffs: Hurt farmers and then put them on the government dole. How about not hurting them in the first place? That’s the question as Mr. Trump escalates his trade war, on Wednesday proposing 10% tariffs on $200 billion in...

A global transportation company that handles incoming parts and finished goods for other businesses is expanding to the Charleston region to support the Mercedes-Benz Van plant. Logistics giant Kuehne + Nagel Inc. said it plans to create 180 jobs over the next three years at its new Palmetto Commerce Park operation in North Charleston. Hiring for the positions is already underway. The firm is setting up shop on the expanding Mercedes-Benz campus, between Ashley Phosphate and Ladson roads. Its services will include taking deliveries, managing inventory and transporting parts to the Sprinter plant assembly line as needed on a "just-in-time"...

The Senate on Wednesday took a symbolic shot at President Trump’s trade policy amid anxiety on Capitol Hill over his tariff strategy. Senators voted 88-11 to instruct lawmakers hashing out a deal on a government funding bill to include language “providing a role for Congress” on tariffs implemented for national security reasons, known as Section 232 of the trade laws. The vote is nonbinding, meaning lawmakers don’t have to add trade language into the funding bill. But the vote margin, with more senators supporting it than the amount needed to override a veto, underscores the depth of concern on Capitol...

English language news report from Shanghai TV talking about American Beef and Pork being pulled from the menu and substituted with Beef from Australia. Watch to the end of the report as it looks like the tariffs might crash the pig head market. Video here.

This is a video clip. From CNBC. With yet more whining from China, about our great president. :D Donald is turning into a great, great, president. Best ever.

The Trump administration pushed ahead with plans to impose tariffs on additional $200 billion in Chinese products by releasing a list of targets, marking a sharp escalation in a trade war between the world's two largest economies. The tariffs could take effect after public consultations end on Aug. 30, according to a statement from the U.S. Trade Representative's office Tuesday. (please see full article at the link)

BERLIN—President Donald Trump’s trade battle with China is threatening the U.S.’s growing role as an auto exporter. In recent years, BMW AG BMW, Daimler AG DMLRY and China’s Zhejiang Geely Holding’s Volvo Cars have invested billions to expand U.S. factory production with the goal of exporting a significant number of vehicles to China and other markets world-wide. But the tit-for-tat tariffs on U.S.-China trade could prompt the manufacturers to rethink that strategy. On Friday, China raised to 40% its tariff on auto imports from the U.S. as part of a broader retaliation against the Trump administration’s move to impose duties...

Who’s the biggest loser when tariffs are imposed on imports? The surprising answer: exporters. Though completely counterintuitive, theory and evidence show that taxes on imports act just like a tax on exports. Though it’s early, the Trump administration’s recent round of tariffs is already rippling out to exporters: Soybean farmers face plunging prices as China raises tariffs, Harley-Davidson will move production of motorcycles destined for the European Union out of the U.S., and BMW says foreign retaliation may hit exports from its South Carolina plant. Economists credit Abba Lerner, then a graduate student at the London School of Economics, for...

The French government insisted on Sunday that Washington should expect united retaliation from Europe to further tariff increases after Germany signaled it was prepared to negotiate. With Germany’s powerful car industry facing the threat of higher U.S. duties, Chancellor Angela Merkel said last Thursday she would back a lowering of European Union levies on imports of U.S. cars. “If tomorrow there is an increase in tariffs, like in the car industry, our reaction should be united and strong to show that Europe is a united and sovereign power,” French Finance Minister Bruno Le Maire said. “The question is no longer...