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- Trump heaps another 5% tariff on Chinese goods in latest tit-for-tat escalation
Fri, 23 Aug 2019 18:29:19 -0400
U.S. President Donald Trump on Friday lashed back at a new round of Chinese tariffs by heaping an additional 5% duty on some $550 billion in targeted Chinese goods in the latest tit-for-tat trade war escalation by the world's two largest economies.
- Key dates in the U.S.-China trade war
Fri, 23 Aug 2019 18:28:22 -0400
Hopes for settlement of the yearlong U.S.-China trade war dimmed further on Friday as China said it will slap retaliatory tariffs on about $75 billion worth of U.S. goods, the latest escalation in the dispute between the world's two largest economies.
- Fed's commitment to act upstaged by Trump's furor
Fri, 23 Aug 2019 18:26:12 -0400
Federal Reserve Chair Jerome Powell said the central bank would "act as appropriate" to keep the U.S. economy healthy in a deteriorating global economy, but stopped short of committing to rapid-fire rate cuts and drew fire from President Donald Trump.
- World needs to end risky reliance on U.S. dollar: BoE's Carney
Fri, 23 Aug 2019 18:26:12 -0400
Bank of England Governor Mark Carney took aim at the U.S. dollar's "destabilizing" role in the world economy on Friday and said central banks might need to join together to create their own replacement reserve currency.
- Oil spills into U.S.-China trade war, prices slump
Fri, 23 Aug 2019 18:23:59 -0400
China said on Friday it would impose tariffs on U.S. crude oil imports for the first time, sending prices down nearly 4% to two-week lows as the escalating bilateral trade war fed worries over a slowdown in global oil demand.
- Stocks tumble, yen rallies as U.S. and China escalate trade war
Fri, 23 Aug 2019 18:10:16 -0400
Stocks, the dollar and oil prices fell on Friday while safe havens rose after President Donald Trump demanded U.S. companies look at alternatives to China for manufacturing, following Beijing's retaliatory tariffs on American goods.
- Fed's Powell vs. Trump: who's got a 'feel' for markets now?
Fri, 23 Aug 2019 18:09:36 -0400
Donald Trump once accused the Federal Reserve of not having a "feel" for the market and compared Federal Reserve Chair Jerome Powell to a golfer who can't putt, but on Friday it was the U.S. president that drove markets into the rough.
- Wall Street plunges as U.S.-China trade war intensifies
Fri, 23 Aug 2019 17:46:44 -0400
Wall Street tumbled on Friday after the U.S.-China trade war escalated in dramatic fashion, with President Donald Trump demanding that American companies seek alternatives to doing business with China after Beijing announced its own slate of retaliatory measures.
- General Dynamics wins $1.1 billion U.S. defense contract: Pentagon
Fri, 23 Aug 2019 17:42:41 -0400
General Dynamics Corp has been awarded a $1.1 billion contract for expeditionary sea base ships, the Pentagon said on Friday. The vessels are partially submersible logistics platforms for large-scale naval operations.
- USTR to accept public comment period before raising tariffs on $250 billion in Chinese imports
Fri, 23 Aug 2019 17:40:38 -0400
The U.S. Trade Representative's office on Friday said it would hold a public comment period before raising tariffs on $250 billion in Chinese imports on Oct. 1 from 25% to 30% after China announced what the U.S. considers "unjustified tariffs."
- Answering Trump, UPS, FedEx and USPS say they already fight illegal drug shipments
Fri, 23 Aug 2019 17:36:37 -0400
FedEx Corp , United Parcel Service Inc and the U.S. Postal Service said on Friday they are already working to stop traffickers from using their services after U.S. President Donald Trump ordered delivery firms to refuse packages of the powerful painkiller fentanyl from China.
- Trump administration considers boost to biofuel mandates to ease farmer anger: sources
Fri, 23 Aug 2019 17:35:10 -0400
The Trump administration is considering ramping up biofuel blending quotas in the coming years to assuage anger in the Farm Belt over its recent broad use of waivers for small refineries, but is not planning to rescind any of the exemptions it has granted so far, four sources familiar with the matter said.
- Pentagon awards Lockheed $2.4 billion contract for F-35 spare parts
Fri, 23 Aug 2019 17:26:16 -0400
Lockheed Martin has been awarded a $2.4 billion contract for spare parts for F-35 joint strike fighters purchased by the Air Force, Navy and Marine Corps as well as foreign militaries, the Pentagon said on Friday.
- Trump jacks up tariffs on Chinese imports in latest tit-for-tat
Fri, 23 Aug 2019 17:17:08 -0400
President Donald Trump said on Friday the United States would subject Chinese imports to an additional 5% tariff in response to what he called a politically motivated move by China to impose tariffs on $75 billion worth of U.S. exports.
- Fed's Clarida says global economy has worsened since July: CNBC
Fri, 23 Aug 2019 16:42:22 -0400
U.S. Federal Reserve Vice Chairman Richard Clarida said on Friday the global economic outlook has worsened since July.
- California rare earths miner races to refine amid U.S.-China trade row
Fri, 23 Aug 2019 16:37:27 -0400
The owner of the only U.S. rare earths mine is going on a hiring spree as it looks to significantly boost production, part of a strategy to build out American refining capability after China raised tariffs on the minerals amid an escalating trade war.
- Oil prices slide as U.S.-China trade war escalates
Fri, 23 Aug 2019 16:32:25 -0400
Oil prices fell on Friday after China unveiled retaliatory tariffs against about $75 billion worth of U.S. goods including crude oil, another escalation of a protracted trade dispute between the world's two largest economies.
- U.S.-China Business Council urges talks to end damaging trade tensions
Fri, 23 Aug 2019 16:28:42 -0400
The US-China Business Council on Friday said millions of U.S. citizens will be harmed by the increased trade tensions between the United States and China, the world's largest economies, following the latest salvos in the U.S.-China trade war.
- Factbox: Pending mergers and acquisitions involving U.S. firms that need Chinese approval
Fri, 23 Aug 2019 16:25:49 -0400
U.S. President Donald Trump said on Friday he has ordered American companies to exit China after Beijing unveiled retaliatory tariffs on $75 billion worth of U.S. goods, in a new twist in the bitter trade war between the world's two largest economies.
- Citgo profits hit following split, CEO sees 2H improvement
Fri, 23 Aug 2019 16:20:01 -0400
The two new top executives at Citgo Petroleum PDVSAC.UL disclosed this week that net income in the second quarter slid to less than half its level a year earlier, hit by a broad slump for the refining industry as well as complications from U.S. sanctions on Venezuela and Citgo's split with state-run oil company PDVSA.