US will hold off on raising China tariffs to 25% as <span style='color:red'>Trump</span> and Xi agree to a 90-day trade truce
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US will hold off on raising China tariffs to 25% as Trump and Xi agree to a 90-day trade truce

Saul Loeb | AFP | Getty ImagesUS President Donald Trump (R) and China's President Xi Jinping (L) along with members of their delegations, hold a dinner meeting at the end of the G20 Leaders' Summit in Buenos Aires, on December 01, 2018. Chinese President Xi Jinping and U.S. President Donald Trump put their bilateral trade war on pause momentarily, striking an agreement to hold off on slapping additional tariffs on each other's goods after January 1, as talks continue between both countries.In a White House readout of a dinner at the G-20 summit in Argentina, Xi and Trump discussed a range of nettlesome issues — among them the trade dispute that has left over $200 billion worth of goods hanging in the balance."President Trump has agreed that on January 1, 2019, he will leave the tariffs on $200 billion worth of product at the 10 percent rate, and not raise it to 25 percent at this time," the statement read. Over the next 90 days, American and Chinese officials will continue to negotiate lingering disagreements on technology transfer, intellectual property and agriculture."Both parties agree that they will endeavor to have this transaction completed within the next 90 days. If at the end of this period of time, the parties are unable to reach an agreement, the 10 percent tariffs will be raised to 25 percent," the statement added.Meanwhile, "China will agree to purchase a not yet agreed upon, but very substantial, amount of agricultural, energy, industrial, and other product from the United States to reduce the trade imbalance between our two countries. China has agreed to start purchasing agricultural product from our farmers immediately," the White House said.Xi also plans to designate Fentanyl as a controlled substance, according to the statement. As the U.S. opioid crisis continues to rage, it would suggest that people selling the drug to parties in the U.S. would be subject to stiff penalties in China.The Trump administration had threatened to more than double the tariffs it has already slapped on $250 billion worth of Chinese imports, while Xi's government has put targeted tariffs on $110 billion in U.S. goods. The standoff has raised fears among investors and businesses that the global economy could be dragged down by the dispute between the world's two largest economies.Trump, who made U.S. trade policy a central plank of his platform as a presidential candidate in 2016, wants to address specific gripes with China's trade practices, especially its alleged theft of U.S. intellectual property.Trump touted the G-20 meeting thus far as a "great success" in a pair of tweets Saturday. But he postponed a press conference, which was scheduled to follow a summit meeting, until after the funeral of former President George H.W. Bush, who died at age 94 on Friday.In a joint declaration, the group of nations said the current multilateral trading system is "falling short of its objectives and there is room for improvement," and supported reforms to the World Trade Organization.
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Release time：2018-12-03 00:00 reading：1499 Continue reading>>
<span style='color:red'>Trump</span> suggests US could slap 10% tariffs on iPhones and laptops imported from China
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Trump suggests US could slap 10% tariffs on iPhones and laptops imported from China

President Donald Trump suggested he could place a 10 percent tariff on iPhones and laptops imported from China, in an interview with the Wall Street Journal published Monday. He also said it's "highly unlikely" that he would delay an increase in tariffs from 10 percent to 25 percent on Jan. 1, just four days before a summit with Chinese President Xi Jinping."Maybe. Maybe. Depends on what the rate is," the president said to The Wall Street Journal about the possible iPhone and laptop tariffs. "I mean, I can make it 10 percent, and people could stand that very easily."Apple stock was down nearly 2 percent in after-hours trading.Trump said he expects he will increase tariffs on $200 billion of Chinese goods to 25 percent. He will also add $267 billion worth of tariffs onto goods that are not already subjected to existing tariffs if the two countries don't make a deal.Apple's products are currently exempt from the tariffs. It previously announced that the tariffs would affect the Apple Watch, AirPods and other products, but were spared when the tariffs were announced. Although iPhones are assembled in China, several parts come from the U.S.Apple could not immediately be reached for comment.
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Release time：2018-11-28 00:00 reading：1046 Continue reading>>
Expect a photo op and a 'mock deal' at the <span style='color:red'>Trump</span>-Xi meeting — not a long-term truce, says economist
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Expect a photo op and a 'mock deal' at the Trump-Xi meeting — not a long-term truce, says economist

Expect a photo opportunity, a "mock deal," and temporary market relief from the much-touted meeting between U.S. President Donald Trump and his Chinese counterpart Xi Jinping at the G-20 meeting, an economist said on Friday."We don't think this deal will be engineering a long-term truce between the two countries," Bo Zhuang, chief economist and director of China research at TS Lombard, said of the meeting in Buenos Aires, Argentina next week.Zhuang told CNBC he expected a "photo op" and a probable "mock deal" from the meeting between the leaders of the world's two largest economies, "which means there will be temporary market-positive feedback from that."But trade tensions will continue to escalate, he added.China's economy will be hit by the trade war, with real GDP growth getting shaved by 0.5 to 0.7 percentage points from the beginning of 2019, he said.Zhuang said China doesn't want to provoke further escalation in bilateral relations with the U.S., but Beijing may actually let the Chinese yuan weaken should the tariff fight continue.As for the risk of being labeled a "currency manipulator" should the Chinese yuan decline further, Zhuang said there appeared to be little downside risks from that."Everything has already happened i.e. putting in tariffs, negotiations. Trade war was the worse case scenario even before being labeled a currency manipulator," said Zhuang.
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Release time：2018-11-26 00:00 reading：1211 Continue reading>>
After the US and China's weekend clash, all eyes shift to <span style='color:red'>Trump</span> and Xi's next meeting
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After the US and China's weekend clash, all eyes shift to Trump and Xi's next meeting

Investors and world leaders alike will be glued to the upcoming meeting between U.S. President Donald Trump and Chinese President Xi Jinping in Argentina, hoping for clues to what's next."One gets the sense that he's (Trump) going to be a bit tougher with China" compared with Mexico and Canada, said Paul Gruenwald, chief economist at S&P Global Ratings. The G-20 meeting of the world's developed economies takes place in Buenos Aires from Nov. 30 to Dec. 1.Trump criticized Mexico and Canada for months, claiming they took advantage of U.S. companies through trade, but the three countries reached a new trilateral deal at the end of September to replace the North American Free Trade Agreement.The approach to China has been different. Trump has repeatedly attacked the country for stealing intellectual property, creating barriers to American companies that try to operate in China, and for the massive trade imbalance between the two countries.Differences between the world's two biggest economies were on full display at the Asia-Pacific Economic Cooperation (APEC) summit over the weekend, resulting in the group's failure to agree on a joint communique for the first time in its history.Gruenwald said he's not surprised there were no new developments between the U.S. and China at the APEC summit in Papua New Guinea. He called the G-20 "a better forum" to discuss such issues."I really think the big action's going to be in Argentina in a couple of weeks, so let's see what happens," he told CNBC's "Squawk Box" on Monday, adding that "no one really knows" what will come out of the meeting.In Buenos Aires, the two presidents are expected to meet each other with trade high on their agenda. Tensions between the two countries have dominated economic headlines this year, with both sides imposing tit-for-tat tariffs on each other's products.The trade fight has resulted in the International Monetary Funddowngrading its global growth outlook for this year and next. American banking group Citi said some of its biggest clients have made plans to shift elements of their supply chains to circumvent those additional tariffs, because they expect negotiations between the U.S. and China to last more than a year.Worries that U.S.-China tensions could impede growth have also rattled global markets. Hannah Anderson, global market strategist at J.P. Morgan Asset Management, advises investors to prepare for the rift between the two economic giants to drag on."I'm not particularly optimistic about a walk-back in trade tensions in the next six months," Anderson told CNBC's "Squawk Box" on Monday."If there is an agreement or if there are some positive headlines out of G-20, it's much more likely that it's an effort to cool tensions and a symbolic statement of intent, rather than actual substantive change in resolving the trade tensions between the two countries," she said.
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Release time：2018-11-20 00:00 reading：1135 Continue reading>>
<span style='color:red'>Trump</span> says China wants to make trade deal, but White House officials warn no sign of pact
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Trump says China wants to make trade deal, but White House officials warn no sign of pact

President Donald Trump said Friday that China "wants to make a deal" on trade with the United States, but he also warned that any pact has to be "reciprocal."Trump's comments sent the Dow Jones Industrial Average to its high of the day, briefly trading more than 200 points higher in session highs.But White House officials immediately after Trump's remarks told CNBC that people should not read too much into those claims, because there is no sign of a deal coming soon.After CNBC aired that qualification, the DJIA gave back nearly all of its gains seen on Trump's statement.The president spoke to reporters in the Oval Office during the signing of a cybersecurity bill at the White House."China wants to make a deal," Trump said, adding that China had recently sent a list of trade items the nation is open to compromise on."Large list," Trump noted.The president said that tariffs the United States recently imposed on a range of Chinese products have put pressure on that country to agree to a trade pact."I think we'll have a deal. We'll find out very soon," he said."We have to have reciprocal trade. We can't have trade that's meant for stupid people, and that's the way they took advantage of our country."Trump said, "China has taken advantage of the United States for many, many years" by virtue of trading arrangements that had Americans buying billions of dollars worth of Chinese products every year and China buying relatively few American-made products."We have helped create China as we know it today," Trump said.
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Release time：2018-11-19 00:00 reading：1157 Continue reading>>
<span style='color:red'>Trump</span> advisor Larry Kudlow: 'Nothing is set in stone right now' on new China tariffs
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Trump advisor Larry Kudlow: 'Nothing is set in stone right now' on new China tariffs

President Donald Trump's top economic advisor pushed back slightly on reports that Trump may implement more tariffs on China as the two nations' trade battle escalates."Nothing is set in stone right now," Larry Kudlow told CNBC on Wednesday, ahead of potential talks between Trump and Chinese President Xi Jinping at the G-20 summit next month.Washington and Beijing have levied an escalating series of tariffs that raised fears about broader damage to the U.S. economy. Trump has brought up the possibility of slapping tariffs on $267 billion more in imports from China as trade talks between the world's two largest economies stall.On Wednesday, Kudlow said "policy talks" will determine whether the White House imposes additional duties, "not an arbitrary timeline." The National Economic Council director added that he would not spell out the specific demands Trump wants China to meet in order for him to reduce tariffs. But he noted that the president has repeatedly pushed for Beijing to address alleged intellectual property theft and barriers to U.S. imports."It is possible some good positive things could — I say could — come out of President Trump-President Xi talks. It's possible," he said.Kudlow thinks the leaders will meet next month, but said no agenda is set for certain. The Trump administration has already slapped tariffs on $250 billion in Chinese goods.The remarks from Kudlow came just after he interviewed Trump in the White House to tout the economy and job growth during his administration. At the event less than a week before the midterms, Trump repeated his claim that "I think you're going to lose a lot of money" if Republicans perform poorly in Tuesday's elections.Kudlow also contended Wednesday that Democratic gains in Congress would hurt financial markets, but it is unclear if they would.
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Release time：2018-11-01 00:00 reading：1060 Continue reading>>
<span style='color:red'>Trump</span> and China's Xi to meet at G-20: Kudlow
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Trump and China's Xi to meet at G-20: Kudlow

President Donald Trump will meet with China's president, Xi Jinping, next month at the G-20 summit in Buenos Aires, Argentina, according to Larry Kudlow, top White House economic advisor.Kudlow told reporters outside the White House on Tuesday that the two leaders "will meet for a bit" but didn't have other details.Any meeting between the two comes at a time of escalating tensions over trade. Most recently, the Trump administration put tariffs on some $200 billion of Chinese imports, and Beijing retaliated with tariffs on U.S. goods. The two nations have struggled to come to the negotiating table over trade, as the U.S. raises concerns about intellectual property and a widening trade deficit."Our asks are on the table, I'd love to see them respond," Kudlow said Tuesday. "Thus far they haven't."Chinese government officials have indicated they aren't afraid of a trade war. CNBC reported Monday that Zhang Qingli, a leading member of the Chinese committee that forges alliances with other nations, told a group of U.S. business leaders, lobbyists and others that China refuses to be intimidated.The G-20 summit is an annual meeting of leaders from the world's major economies.
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Release time：2018-10-24 00:00 reading：964 Continue reading>>
<span style='color:red'>Trump</span>'s trade war is forcing Beijing to retreat from its own anti-debt battle
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Trump's trade war is forcing Beijing to retreat from its own anti-debt battle

Just as China started to come to grips with the scale of its massive debt accumulation, the impact of the trade war with the U.S. is forcing a retreat.One expert said that could prove "disastrous" for the country's economy.Years of big-ticket investment projects helped spur double-digit growth in China's gross domestic product, sending the country into position as the world's second-largest economy — trailing only the United States.The price tag, however, was a mountain of debt that needed to be drawn down as authorities refashioned growth to a more sustainable model. The plan has been to base the more mature economy on the increasing spending power of China's rising consumer class rather than old-fashioned investments in infrastructure.But the trade war is denting China's economic growth and forcing a rethink in debt reduction — known as deleveraging — as authorities look for ways to juice the economy to make up for hits resulting from U.S. President Donald Trump's tariffs on Chinese exports.Economists increasingly see future tariffs as likely to apply to all shipments from China to the United States, meaning Beijing is set to even further loosen financial taps.That's already been seen in the form of cuts to reserve requirement ratios for banks, which set the amount of funds they must keep on hand. The recent moves mean banks have more money to lend out, stimulating the economy with more debt.Li-Gang Liu, chief economist for China at Citi, said that a major stimulus announced last month by Guangdong Province, China's export center, that includes tax, land and utilities measures, is a prime example of the new trend in the country."Such kind of policy suggests that going forward China's deleveraging has more or less halted," Liu said on CNBC's "Squawk Box" on Wednesday. "We will see more fiscal and monetary stimulus ahead."'Could be disastrous'A Citi report on Monday estimated that the deleveraging pause will increase China's debt-to-GDP ratio by 12.3 percentage points to 274.5 percent by the end of this year, reversing a small decline in 2017."The markets are right, in our view, to feel more concerned about the sustainability of China's debt and the increased financial risks," Citi said.Andrew Collier, managing director at Orient Capital Research in Hong Kong, said that there's likely to be "leakage" in China's debt economy — meaning that those who need credit will find a way to get it through the shadow banking system."So I'm not optimistic that there will be significant deleveraging in 2019 and that means that the existing debt level is likely to maintain at the current levels or even rise, which could be disastrous," Collier said at a conference on Oct. 10."At some point you're going to have a defaulting situation in different parts of the system," he said.Collier raised the possibility of municipal government defaults, which he described as "more or less unheard of in China."Ray Heung, senior vice president in the Financial Institutions Group at Moody's Investors Service, said the Chinese government will continue to support the banking system, focusing on larger banks — but attending to smaller ones that have a relationship with a local government or play a social role."We do think that one of the overriding factors is actua
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Release time：2018-10-22 00:00 reading：1401 Continue reading>>
Navarro says <span style='color:red'>Trump</span>'s trade strategy may create market volatility, but will be bullish long term
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Navarro says Trump's trade strategy may create market volatility, but will be bullish long term

Andrew Harrer | Bloomberg | Getty ImagesPeter Navarro, director of the National Trade CouncilCurrent U.S. trade policies may be creating volatility in the near term, but will be good for the markets in the long run, Peter Navarro, one of President Donald Trump's top trade advisors, said Monday on CNBC's "Closing Bell."In the last year, Trump has opened trade battles on multiple fronts, pressing China, Canada, Mexico and the European Union to come to the negotiating table and imposing tariffs on key imports to get them to take action."In the absence of President Trump basically having a tough stance on trade, of setting the standard that trade must be free, fair and reciprocal, we would not have countries talking to us in earnest like they're talking to us now," Navarro told CNBC. "And that's the beauty of the Trump trade strategy. Sometimes it creates a little volatility on the stock markets because the president takes, rightly, strong trade positions."The Dow Jones Industrial Average hit a record high last week, but it has also swooned several times since the spring as Trump announced new tariffs and raised the pressure on other countries."If you're a market investor what you should see is a bullish move toward a structural realignment of a global economy," Navarro said.The blue chip index fell 181 points on Monday after reports over the weekend that trade talks with China were on shaky ground and reports Monday that Trump's deputy attorney general could be on his way out.Trump's latest round of tariffs on Chinese imported goods kicked into effect on Monday, and China promised to retaliate in an escalating trade conflict that could jeopardize planned talks between the two sides. Over the weekend, The Wall Street Journal reported that Beijing rejected Washington's invitation to restart talks.
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Release time：2018-09-25 00:00 reading：1021 Continue reading>>
Micron tumbles after CFO says <span style='color:red'>Trump</span> China tariffs will hit gross margins
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Micron tumbles after CFO says Trump China tariffs will hit gross margins

Matthew Staver | Bloomberg | Getty ImagesThe headquarters building of Micron Technology Inc. stands in Boise, Idaho, U.S.Micron Technology shares fell more than 6 percent in after-hours trading Thursday after CFO David Zinsner said that the semiconductor company's gross margins would suffer due to President Donald Trump's latest round of tariffs on Chinese imports."Our gross margins will also be impacted in the near term by the announced 10 percent tariff on $200 billion of imports from China which will go into effect on September 24," Zinsner said. "We are working to gradually mitigate most of the impact from these tariffs over the next three to four quarters."President Trump announced the 10 percent tariff on $200 billion worth of Chinese imports on Monday, and the rate is set to increase to 25 percent at the end of the year. Just over 50 percent of Micron's revenue is from China.Micron also gave weak future guidance for revenue and earnings per share compared to what analysts had estimated. The company expects future quarterly revenue between $7.9 billion and $8.3 billion, while analysts had estimated $8.45 billion in revenue. The company estimates future earnings per share of $2.95, plus or minus 7 cents, which is lower than the $3.04 per share analysts expected.Micron shares initially rose more than 4 percent after-hours following the release of the company's fourth-quarter earnings report that beat expectations on the top and bottom lines. The stock closed at $46.06 per share.
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Release time：2018-09-21 00:00 reading：1180 Continue reading>>

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