Tenuous US-China trade deal comes as Beijing and Washington remain on a permanent collision course

Chinese President Xi Jinping (R) and US President Donald Trump at the Great Hall of the People in Beijing on November 9, 2017. By sharply accelerating in recent months its trade adjustment with the U.S., China has finally done what it should have initiated more than two years ago. Beijing is on the way to seriously dismantling Washington’s economic and political leverage over China’s economy. During 11 months of last year, China stepped up the rate of decline of its trade surplus with the U.S. t


Chinese President Xi Jinping (R) and US President Donald Trump at the Great Hall of the People in Beijing on November 9, 2017.
By sharply accelerating in recent months its trade adjustment with the U.S., China has finally done what it should have initiated more than two years ago.
Beijing is on the way to seriously dismantling Washington’s economic and political leverage over China’s economy.
During 11 months of last year, China stepped up the rate of decline of its trade surplus with the U.S. t
Tenuous US-China trade deal comes as Beijing and Washington remain on a permanent collision course Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-20  Authors: dr michael ivanovitch
Keywords: news, cnbc, companies, rate, western, trade, permanent, collision, chinese, uschina, beijing, strategic, washington, tenuous, surplus, course, china, american, deal, comes, remain, chinas


Tenuous US-China trade deal comes as Beijing and Washington remain on a permanent collision course

Chinese President Xi Jinping (R) and US President Donald Trump at the Great Hall of the People in Beijing on November 9, 2017.

By sharply accelerating in recent months its trade adjustment with the U.S., China has finally done what it should have initiated more than two years ago.

Beijing is on the way to seriously dismantling Washington’s economic and political leverage over China’s economy. During 11 months of last year, China stepped up the rate of decline of its trade surplus with the U.S. to 16.2%.

Feverish sinologists would call that “decoupling” — a misnomer for China’s belated exit from a position of an excessive and unsustainable trade surplus with the U.S.

Those sinologists don’t seem to notice that China is getting out of that self-imposed structural trap by aggressively slashing its U.S. purchases at an annual rate of 12% between January and November of last year.

Instead of worrying about “decoupling,” advocates of friendly U.S.-China ties should remind Beijing that it should be doing exactly the opposite — by drastically stepping up imports of American goods and services. If the Chinese did that, they would not have to abandon their U.S. markets by cutting exports at an annual rate of 15.2%, as they did for nearly all of last year.

So, the question is: Who is in a hurry to “decouple?”

Looking at trade flows and China’s declining holdings of U.S. debt, the Chinese have apparently concluded that a rapid narrowing of U.S. exposure was a matter of their national interest.

That conclusion has come after years of pleading for a “win-win cooperation,” while Washington kept trying to contain China’s growing global economic and political influence. Instead of cooperation, the U.S. defined its relationship with China as a strategic competition with a country seeking to destroy the Western (i.e., American) world order.

Cooperation made sense for China because it meant an open access to U.S. markets and technology transfers. The U.S., however, finally began to see things differently as it woke up from its evanescing dream that an increasingly prosperous China would shake off its communist rule and join the U.S.-led Western community.

What followed was a radical U.S. policy change Beijing apparently did not expect. China’s huge, and growing, American trade surpluses became an imminent strategic danger that had to be fought by tariffs, sanctions and strict limits to Chinese investments in the U.S. economy.


Company: cnbc, Activity: cnbc, Date: 2020-01-20  Authors: dr michael ivanovitch
Keywords: news, cnbc, companies, rate, western, trade, permanent, collision, chinese, uschina, beijing, strategic, washington, tenuous, surplus, course, china, american, deal, comes, remain, chinas


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Why American Eagle closed all its shops in the UK

Why American Eagle closed all its shops in the UKIn 2014, American Eagle Outfitters opened two stores in London and one in Kent. Those stores didn’t last long — the teen and young adult retailer closed them just three years later. Retail experts say American retailers don’t do enough to tailor their products to what UK consumers want.


Why American Eagle closed all its shops in the UKIn 2014, American Eagle Outfitters opened two stores in London and one in Kent.
Those stores didn’t last long — the teen and young adult retailer closed them just three years later.
Retail experts say American retailers don’t do enough to tailor their products to what UK consumers want.
Why American Eagle closed all its shops in the UK Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-17
Keywords: news, cnbc, companies, ukin, teen, tailor, eagle, american, closed, stores, shops, young


Why American Eagle closed all its shops in the UK

Why American Eagle closed all its shops in the UK

In 2014, American Eagle Outfitters opened two stores in London and one in Kent. Those stores didn’t last long — the teen and young adult retailer closed them just three years later. Retail experts say American retailers don’t do enough to tailor their products to what UK consumers want.


Company: cnbc, Activity: cnbc, Date: 2020-01-17
Keywords: news, cnbc, companies, ukin, teen, tailor, eagle, american, closed, stores, shops, young


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

American Eagle’s first expansion to the UK didn’t work. Here’s why it’s trying again

The U.K. fashion market is notoriously tough for international retailers to break into. Retail experts say American Eagle didn’t differentiate itself from the competition when it entered the British market. American Eagle doesn’t break out international stores in its financial results, so it’s not totally clear how the U.K. stores performed. American Eagle is trying to take on the British fashion market once again. Can American Eagle crack the competitive U.K. fashion market?


The U.K. fashion market is notoriously tough for international retailers to break into.
Retail experts say American Eagle didn’t differentiate itself from the competition when it entered the British market.
American Eagle doesn’t break out international stores in its financial results, so it’s not totally clear how the U.K. stores performed.
American Eagle is trying to take on the British fashion market once again.
Can American Eagle crack the competitive U.K. fashion market?
American Eagle’s first expansion to the UK didn’t work. Here’s why it’s trying again Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-17  Authors: marilyn haigh
Keywords: news, cnbc, companies, american, fashion, opened, international, eagles, retailers, trying, eagle, expansion, didnt, retailer, work, heres, stores, market


American Eagle's first expansion to the UK didn't work. Here's why it's trying again

In 2014, American Eagle Outfitters opened three stores in the United Kingdom. Just three years later, the teen retailer abandoned the market.

The U.K. fashion market is notoriously tough for international retailers to break into. It’s crowded, and U.S. retailers’ products are often too expensive. Due to the country’s small physical size and high population density, fast shipping is expected.

Retail experts say American Eagle didn’t differentiate itself from the competition when it entered the British market.

“You can’t just set up shop in another country as if it’s your own and do exactly the same thing you would back at home,” said Chana Baram, a senior retail analyst at Mintel. “You have to get to know a new customer, even between an American customer and a U.K. customer.”

American Eagle doesn’t break out international stores in its financial results, so it’s not totally clear how the U.K. stores performed. In a March call with analysts, American Eagle’s CFO said it had reduced its “loss-making businesses” in Europe.

American Eagle is trying to take on the British fashion market once again. In February 2019, the retailer announced it would expand into Europe through a partnership.

In a press release, American Eagle said stores were “expected to open in Ireland this summer.” As of January 2020, no stores have opened in the European countries targeted for expansion, according to the company’s online store locator.

American Eagle did not respond to CNBC’s requests for comment.

Can American Eagle crack the competitive U.K. fashion market? Watch the video above to learn why the retailer ran into problems in 2017.


Company: cnbc, Activity: cnbc, Date: 2020-01-17  Authors: marilyn haigh
Keywords: news, cnbc, companies, american, fashion, opened, international, eagles, retailers, trying, eagle, expansion, didnt, retailer, work, heres, stores, market


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

How American Apparel came back from the brink of death

How American Apparel came back from the brink of deathAt American Apparel’s peak, it was one of the most popular teen retail stores in the 2000s. Its controversial CEO and sexual marketing made the brand, but that is also what led to its fall from grace. Will a new turnaround plan be enough for investors and consumers to get behind the retail brand?


How American Apparel came back from the brink of deathAt American Apparel’s peak, it was one of the most popular teen retail stores in the 2000s.
Its controversial CEO and sexual marketing made the brand, but that is also what led to its fall from grace.
Will a new turnaround plan be enough for investors and consumers to get behind the retail brand?
How American Apparel came back from the brink of death Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-16
Keywords: news, cnbc, companies, retail, peak, brand, american, teen, came, death, sexual, brink, turnaround, stores, popular, plan, apparel


How American Apparel came back from the brink of death

How American Apparel came back from the brink of death

At American Apparel’s peak, it was one of the most popular teen retail stores in the 2000s. Its controversial CEO and sexual marketing made the brand, but that is also what led to its fall from grace. Will a new turnaround plan be enough for investors and consumers to get behind the retail brand?


Company: cnbc, Activity: cnbc, Date: 2020-01-16
Keywords: news, cnbc, companies, retail, peak, brand, american, teen, came, death, sexual, brink, turnaround, stores, popular, plan, apparel


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Senate passes new North American trade deal, sending it to Trump

The Senate passed a new North American trade deal Thursday, sending one of President Donald Trump’s top priorities to his desk for ratification. USMCA will head to the president more than 14 months after the North American nations agreed to the deal. The Senate’s passage of USMCA came a day after Trump signed a partial trade deal with China. USMCA makes several tweaks to the North American Free Trade Agreement, which took effect in 1994. Trump and Democrats alike argued that the earlier deal, wh


The Senate passed a new North American trade deal Thursday, sending one of President Donald Trump’s top priorities to his desk for ratification.
USMCA will head to the president more than 14 months after the North American nations agreed to the deal.
The Senate’s passage of USMCA came a day after Trump signed a partial trade deal with China.
USMCA makes several tweaks to the North American Free Trade Agreement, which took effect in 1994.
Trump and Democrats alike argued that the earlier deal, wh
Senate passes new North American trade deal, sending it to Trump Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-16  Authors: jacob pramuk
Keywords: news, cnbc, companies, deal, north, american, president, sending, trade, senate, free, passes, agreement, impeachment, trump


Senate passes new North American trade deal, sending it to Trump

The Senate passed a new North American trade deal Thursday, sending one of President Donald Trump’s top priorities to his desk for ratification.

The GOP-held chamber approved the United States-Mexico-Canada Agreement in an overwhelming 89-10 vote. After Trump signs the three-nation pact, it needs only Canada’s approval to take effect.

The Senate rushed to pass the agreement before the expected start of the president’s impeachment trial next week. The House delivered articles of impeachment to the upper chamber on Wednesday, and the Senate could take weeks to decide whether to convict Trump and remove him from office.

USMCA will head to the president more than 14 months after the North American nations agreed to the deal. The Trump administration worked with Democrats to resolve concerns about enforcement of labor and environmental standards — changes that led most but not all of the party’s lawmakers to support the agreement.

The Senate’s passage of USMCA came a day after Trump signed a partial trade deal with China. The agreement with Beijing does not require congressional approval.

USMCA makes several tweaks to the North American Free Trade Agreement, which took effect in 1994. Trump and Democrats alike argued that the earlier deal, which opened more free trade across the three countries, damaged American workers by encouraging companies to move jobs out of the U.S.


Company: cnbc, Activity: cnbc, Date: 2020-01-16  Authors: jacob pramuk
Keywords: news, cnbc, companies, deal, north, american, president, sending, trade, senate, free, passes, agreement, impeachment, trump


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

How American Apparel is trying to make a comeback after two bankruptcies

“Dov Charney was way ahead of his time from the point of view of what he was doing right,” said Jan Rogers Kniffen, CEO of J. Rogers Kniffen WWE. Allegations of sexual harassment surfaced around Charney, and people started to wonder if American Apparel’s overtly sexualized image went too far. In 2014, the board of American Apparel ousted Charney. American Apparel went into bankruptcy court in 2015, and then again in 2016. How did American Apparel go from fast-growing retailer to bankruptcy court


“Dov Charney was way ahead of his time from the point of view of what he was doing right,” said Jan Rogers Kniffen, CEO of J. Rogers Kniffen WWE.
Allegations of sexual harassment surfaced around Charney, and people started to wonder if American Apparel’s overtly sexualized image went too far.
In 2014, the board of American Apparel ousted Charney.
American Apparel went into bankruptcy court in 2015, and then again in 2016.
How did American Apparel go from fast-growing retailer to bankruptcy court
How American Apparel is trying to make a comeback after two bankruptcies Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-16  Authors: marilyn haigh
Keywords: news, cnbc, companies, rogers, american, known, charney, kniffen, apparel, comeback, using, trying, retailer, manufacturing, went, bankruptcies


How American Apparel is trying to make a comeback after two bankruptcies

At American Apparel’s peak, the fashion retailer was synonymous with made-in-LA hipster cool and provocative advertising. It was known for manufacturing its products in Los Angeles and paying workers a proper wage in an industry known for poor working conditions.

It was also known for its founder, Dov Charney. Retail experts say in some ways, Charney was a visionary in retail.

“Dov Charney was way ahead of his time from the point of view of what he was doing right,” said Jan Rogers Kniffen, CEO of J. Rogers Kniffen WWE. “He was manufacturing in the U.S. He was taking on all the social issues. He was all about perfecting immigration, LGBT rights, not using models who were made up or airbrushed or anything.”

But he was also doing a lot of things wrong. Allegations of sexual harassment surfaced around Charney, and people started to wonder if American Apparel’s overtly sexualized image went too far. In 2014, the board of American Apparel ousted Charney.

“The board asked me to voluntarily step down as CEO and relinquish control over my 27% ownership stake in the company, or be forcibly removed,” Charney said in a January 2020 emailed statement to CNBC. “Using old, discredited allegations they knew were false as cover to terminate me, they embarked on a well-financed media campaign to discredit me and my track record as a successful executive and entrepreneur.”

American Apparel went into bankruptcy court in 2015, and then again in 2016.

But the brand’s wares, from knit T-shirts to zip-up hoodies and disco pants, are still available for purchase online. That’s because the brand was purchased by Canadian company Gildan Activewear in 2017.

How did American Apparel go from fast-growing retailer to bankruptcy court? Watch the video above to learn factors impacted its bottom line.


Company: cnbc, Activity: cnbc, Date: 2020-01-16  Authors: marilyn haigh
Keywords: news, cnbc, companies, rogers, american, known, charney, kniffen, apparel, comeback, using, trying, retailer, manufacturing, went, bankruptcies


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

These are the worst (and best) airlines for 2019, based on mishandled luggage, delays and more

According to a new ranking by The Wall Street Journal released Wednesday, Delta Air Lines was the best major U.S. airline for 2019. American Airlines came in last on the Journal’s overall ranking. American mishandled more than 2,600 bags compared to Delta’s 1,345 last year. United, which ranked next to last overall, had poor rankings in two-hour tarmac delays, mishandled baggage and canceled flights but did better in involuntary bumps. Here are how U.S. airlines stack up in 2019, according to th


According to a new ranking by The Wall Street Journal released Wednesday, Delta Air Lines was the best major U.S. airline for 2019.
American Airlines came in last on the Journal’s overall ranking.
American mishandled more than 2,600 bags compared to Delta’s 1,345 last year.
United, which ranked next to last overall, had poor rankings in two-hour tarmac delays, mishandled baggage and canceled flights but did better in involuntary bumps.
Here are how U.S. airlines stack up in 2019, according to th
These are the worst (and best) airlines for 2019, based on mishandled luggage, delays and more Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-16  Authors: jade scipioni
Keywords: news, cnbc, companies, mishandled, based, luggage, better, american, journal, according, best, delays, flights, airlines, delta, 2019, overall, worst


These are the worst (and best) airlines for 2019, based on mishandled luggage, delays and more

According to a new ranking by The Wall Street Journal released Wednesday, Delta Air Lines was the best major U.S. airline for 2019. American Airlines came in last on the Journal’s overall ranking. The Journal also found flight cancellations, long delays and customer complaints were up across the board.

Some airlines were able to handle the mishaps (mainly caused by weather and congestion) better than others, the report said.

For instance, Delta averaged 36 flight cancellations a day in 2019 while American averaged 159 a day, according to the Journal. What’s more, Delta reported bumping a total of nine passengers from its flights last year while American bumped more than 15,000.

American also ranked last in two-hour tarmac delays and mishandled baggage. American mishandled more than 2,600 bags compared to Delta’s 1,345 last year. United, which ranked next to last overall, had poor rankings in two-hour tarmac delays, mishandled baggage and canceled flights but did better in involuntary bumps. JetBlue (sixth overall) also had poor standings when it came to lost or mishandled luggage but performed better with number of canceled flights and involuntary bumps.

To compile the list, the Journal used data from masflight, a flight-data analytics unit of Global Eagle.

Here are how U.S. airlines stack up in 2019, according to the Journal.


Company: cnbc, Activity: cnbc, Date: 2020-01-16  Authors: jade scipioni
Keywords: news, cnbc, companies, mishandled, based, luggage, better, american, journal, according, best, delays, flights, airlines, delta, 2019, overall, worst


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

American Express Platinum Card vs. Chase Sapphire Reserve: Which is the better luxury card?

The Platinum Card® from American Express and Chase Sapphire Reserve® are two popular travel credit cards with steep $550 annual fees (see rates and fees) and loads of luxury perks. We found you could earn an estimated $2,679 with the Chase Sapphire Reserve® and roughly $1,262 with the Amex Platinum card. Bottom lineThe Platinum Card® from American Express and Chase Sapphire Reserve® are two top of the line credit cards that can provide value for frequent travelers and foodies. If you prefer Uber


The Platinum Card® from American Express and Chase Sapphire Reserve® are two popular travel credit cards with steep $550 annual fees (see rates and fees) and loads of luxury perks.
We found you could earn an estimated $2,679 with the Chase Sapphire Reserve® and roughly $1,262 with the Amex Platinum card.
Bottom lineThe Platinum Card® from American Express and Chase Sapphire Reserve® are two top of the line credit cards that can provide value for frequent travelers and foodies.
If you prefer Uber
American Express Platinum Card vs. Chase Sapphire Reserve: Which is the better luxury card? Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-15  Authors: alexandria white
Keywords: news, cnbc, companies, express, fee, sapphire, platinum, rewards, luxury, american, credit, travel, chase, points, card, annual, better, reserve


American Express Platinum Card vs. Chase Sapphire Reserve: Which is the better luxury card?

The Platinum Card® from American Express and Chase Sapphire Reserve® are two popular travel credit cards with steep $550 annual fees (see rates and fees) and loads of luxury perks. If you’re in the market to upgrade to a high-end card, you’ll want to take the time to understand the pros and cons of each so you can choose the right one for your wallet. Both Chase and Amex continue to make changes to these two cards, offering new perks and benefits that suit different types of customers, such as an annual $100 Saks credit for Amex Platinum cardholders ($50 each half of the year) and an annual $60 DoorDash credit for the Sapphire Reserve customers (in 2020 and 2021). These cards also have two very different rewards programs and annual statement credit offers. Below, CNBC Select reviews both cards to help you choose the one that provides the most benefit for your spending habits.

Overview

American Express Platinum Card vs Chase Sapphire Reserve Amex Platinum Chase Sapphire Reserve Annual fee $550 $550 Variable APR See rates and fees 18.99% to 25.99% Intro APR None None Rewards 5X Membership Rewards® points on flights booked directly with airlines or with American Express Travel and on on prepaid hotels booked on amextravel.com, 1X Membership Rewards® points on all other purchases Earn 3X points on travel and dining at restaurants,1X points on all other purchases Welcome bonus 60,000 Membership Rewards® points after spending $5,000 within 3 months of account opening Earn 50,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening Credits $200 annual airline fee credit; $200 annual Uber credit, $100 annual Saks creidt, up to $100 application fee credit for Global Entry (every 4 years) or TSA PreCheck (every 4.5 years) $300 annual travel credit; up to $100 application fee credit for Global Entry/TSA PreCheck every 4 years

Annual fee

Both the Sapphire Reserve and Amex Platinum have a high $550 annual fee (see rates and fees). The Sapphire Reserve recently increased its annual fee by $100 from $450 to $550. While the annual fees are the same, each card offers a suite of perks that help offset the annual fee. CNBC Select calculated the value of the Sapphire Reserve perks to be roughly $1,388 and the Amex Platinum card benefits to be approximately $1,029 (more on the specific perks and credits below). If you take advantage of all the cards’ benefits, you can more than recoup the annual fee. If you don’t take advantage of all the credits, you’ll need to spend approximately $25,629 per year on the Sapphire Reserve to justify the $550 annual fee. This assumes you spend $2,154 on travel, $3,365 on dining and $20,110 on other categories and that you redeem rewards for travel with Chase Ultimate Rewards®, receiving 50% more value. The amount you need to spend with the Amex Platinum card to offset the $550 fee is nearly double: roughly $49,558 per year. This assumes you spend $527 on airlines, $572 on hotels and $49,503 on everything else. Note that the amount you need to spend to offset each card’s annual fee can drastically decrease if you spend more in eligible bonus categories. Winner: If you take advantage of all the perks, it’s a tie. But if you don’t plan to use all the benefits, the Chase Sapphire Reserve is the winner, as you have to spend less to make the most of the card’s rewards program.

Credit card rewards

Both cards offer higher rewards on travel purchases, and the Sapphire Reserve offers more points on dining, too: Amex Platinum: Earn 5X Membership Rewards® points on flights booked directly with airlines or with American Express Travel and on prepaid hotels booked on amextravel.com, 1X Membership Rewards® points on all other purchases

Earn 5X Membership Rewards® points on flights booked directly with airlines or with American Express Travel and on prepaid hotels booked on amextravel.com, 1X Membership Rewards® points on all other purchases Sapphire Reserve: Earn 3X points on travel and dining at restaurants,1X points on all other purchases At first glance, you may think the Amex Platinum card offers better travel rewards since the earning rate is 5X, but there are many exclusions. Travel purchases only qualify if the flights are booked directly with airlines or the prepaid hotels are booked through American Express Travel. That means travel booked through discount sites, such as Expedia or Hotels.com, only earns 1X points. Meanwhile, the Sapphire Reserve has a broad travel category, which includes: airlines, hotels, car rental agencies, cruise lines, buses, taxis, toll bridges and highways and more. Plus if you prefer to book travel through discount sites, you can still earn 3X points on those purchases. CNBC Select worked with the location intelligence firm Esri, who provided us with a sample annual spending budget of $21,852. We used this sample budget to break down how much money you could earn (less than annual fee) if you optimized using each card over the course of five years. Calculations also assume you full take advantage of annual statement credits. The budget includes six main categories: groceries ($5,019), gas ($2,394), dining out ($3,365), travel ($2,154), utilities ($4,959) and general purchases ($3,961). We found you could earn an estimated $2,679 with the Chase Sapphire Reserve® and roughly $1,262 with the Amex Platinum card. While the five-year estimates we’ve included are derived from a budget similar to the average American’s spending, you may earn a higher or lower return depending on your consumer habits. Winner: Chase Sapphire Reserve® — You earn $1,417 more in rewards over the course of five years.

Redemption options

Rewards earned on these two cards can be redeemed in similar ways, such as travel, gift cards and merchandise, though the Sapphire Reserve offers a unique bonus: If you redeem points for travel through the Chase Ultimate Rewards® portal, they’re worth 50% more. For example, 50,000 points are typically worth $500. But if you pay for your airfare or hotel through the rewards portal, the value of your points increases 50% to $750. The Amex Platinum card doesn’t offer a bonus redemption on points. Both cards also allow you to transfer points to participating airline and hotel partners, such as JetBlue and Marriott. The number of points or miles needed to redeem for rewards varies based on the redemption you choose. For example, 1 point is worth $0.015 toward Chase Ultimate Rewards® travel redemptions (such as airfare and hotels) with the Sapphire Reserve, but 1 point can be worth a penny for gift card redemptions. With the Amex Platinum, 1 point is worth a penny for flights booked through American Express Travel, but 1 point is only worth $0.006 for statement credit redemptions. Winner: Chase Sapphire Reserve® since travel redemptions made via Chase Ultimate Rewards® receive 50% more value.

The welcome bonus

Both cards come with strong welcome bonus offers: Sapphire Reserve: Earn 50,000 bonus points after you spend $4,000 on purchases in the first three months from account opening.

Earn 50,000 bonus points after you spend $4,000 on purchases in the first three months from account opening. Amex Platinum: 60,000 Membership Rewards® points after spending $5,000 within three months of account opening. The Sapphire Reserve’s bonus can be worth up to $750 toward travel, while the Amex Platinum’s bonus is worth about $600 toward eligible airfare and hotel bookings. Winner: Chase Sapphire Reserve® since the welcome bonus can be worth $150 more.

Additional perks

Both cards offer over a dozen premium benefits, but vary when it comes to annual statement credits. Here’s a breakdown of the perks offered by both cards: Consumers with either card can benefit from: No foreign transaction fees

Car rental insurance for eligible loss or damage

Transfer points to frequent travel programs

Premium customer service

Amex and Chase Offers, which provide shopping discounts

Up to $100 for Global Entry or TSA PreCheck application fee (every 4 years with Sapphire Reserve and every 4 (Global Entry) to 4.5 years (TSA PreCheck) with Platinum) (Read how to apply for Global Entry.)

Exclusive entertainment access to presales and preferred seating for concerts, sporting events, and more in select cities Amex Platinum card holders enjoy these added perks: Up to $200 Uber credit: Receive Uber VIP status and a $15 credit each month for U.S. rides, plus a bonus of $20 in December.

Receive Uber VIP status and a $15 credit each month for U.S. rides, plus a bonus of $20 in December. Up to $200 airline fee credit: Receive up to $200 in statement credits annually for incidentals, such as checked bags, in-flight refreshments and other fees after you select an eligible airline.

Receive up to $200 in statement credits annually for incidentals, such as checked bags, in-flight refreshments and other fees after you select an eligible airline. Up to $100 Saks credit: Get up to $50 in statement credits from January through June and up to $50 in statement credits from July through December for purchases at Saks Fifth Avenue or Saks.com. Enrollment required.

Get up to $50 in statement credits from January through June and up to $50 in statement credits from July through December for purchases at Saks Fifth Avenue or Saks.com. Enrollment required. American Express Global Lounge Collection: Access to over 1,200 airport lounges in more than 130 countries around the world.

Access to over 1,200 airport lounges in more than 130 countries around the world. Fine Hotels & Resorts: Book hotel stays with Fine Hotels & Resorts to receive complimentary benefits including: room upgrades, free breakfast for two, late check-out, early check-in and a $100 hotel credit, when available.

Book hotel stays with Fine Hotels & Resorts to receive complimentary benefits including: room upgrades, free breakfast for two, late check-out, early check-in and a $100 hotel credit, when available. Complimentary gold status in select travel programs: Cardholders can upgrade to gold status in the Marriott Bonvoy and Hilton Honors programs.

Cardholders can upgrade to gold status in the Marriott Bonvoy and Hilton Honors programs. Global dining collection: Get special access to reservations and experiences at popular restaurants, and the opportunity to meet the chefs at exclusive events.

Get special access to reservations and experiences at popular restaurants, and the opportunity to meet the chefs at exclusive events. By Invitation Only® events: Enjoy exclusive events from sporting and fashion to fine dining, art and performances.

Enjoy exclusive events from sporting and fashion to fine dining, art and performances. Free 2-day shipping: On eligible items at over 100 online stores with ShopRunner, after a one-time enrollment. Chase Sapphire Reserve® cardholders enjoy these added perks: Up to $300 annual travel credit: Receive up to $300 in statement credits annually for travel expenses, such as airfare, hotel stays and rental cars.

Receive up to $300 in statement credits annually for travel expenses, such as airfare, hotel stays and rental cars. Up to $120 statement credit for DoorDash: $60 in 2020 and $60 in 2021.

$60 in 2020 and $60 in 2021. Up to $200* for a free DashPass membership : Get free delivery and lower service fees at hundreds of restaurants on orders of $12 or more (*depending on when you activate).

: Get free delivery and lower service fees at hundreds of restaurants on orders of $12 or more (*depending on when you activate). Priority Pass™ Select lounge access : Access to over 1,000 VIP lounges in over 500 cities worldwide.

: Access to over 1,000 VIP lounges in over 500 cities worldwide. Complimentary year of Lyft Pink membership: Includes 15% off car rides, relaxed cancellations and priority airport pickups (worth $19.99 per month).

Includes 15% off car rides, relaxed cancellations and priority airport pickups (worth $19.99 per month). Bonus rewards on Lyft: Earn 10X points through March 2022.

Earn 10X points through March 2022. The Luxury Hotel & Resort Collection: Special benefits, such as complimentary room upgrades, early check-in and late check-out.

Special benefits, such as complimentary room upgrades, early check-in and late check-out. Travel protections: Benefit from lost luggage reimbursement, trip cancellation/interruption insurance, trip delay reimbursement, travel accident insurance, baggage delay insurance, travel and emergency assistance services and emergency evacuation and transportation.

Benefit from lost luggage reimbursement, trip cancellation/interruption insurance, trip delay reimbursement, travel accident insurance, baggage delay insurance, travel and emergency assistance services and emergency evacuation and transportation. Roadside assistance: If you have a roadside emergency, you can call for a tow, jump start, tire change, locksmith or gas and receive coverage for up to $50 per incident, four times a year.

If you have a roadside emergency, you can call for a tow, jump start, tire change, locksmith or gas and receive coverage for up to $50 per incident, four times a year. Purchase protection: Covers your new purchases for 120 days against damage or theft up to $10,000 per claim and $50,000 per year.

Covers your new purchases for 120 days against damage or theft up to $10,000 per claim and $50,000 per year. Extended warranty protection: Extends the time period of the U.S. manufacturer’s warranty by an additional year on eligible warranties of three years or less. Terms apply for all benefits. Winner: Tie. Both cards offer over a dozen perks, so the winner depends on what benefits you want.

Bottom line

The Platinum Card® from American Express and Chase Sapphire Reserve® are two top of the line credit cards that can provide value for frequent travelers and foodies. Since both cards have the same $550 annual fee, the card that’s best for you depends on how you spend your money and the type of perks you want (see rates and fees). If you prefer Uber over Lyft, the Amex Platinum card is the better choice, while Lyft riders will fare better with the Sapphire Reserve. If you want to get more value for points, the Sapphire Reserve stands out with 50% more value on travel redeemed through Chase Ultimate Rewards. But if you frequently book flights directly with airlines or don’t mind booking airfare and prepaid hotels via Amex Travel, the Platinum card offers a competitive 5X points. At the end of the day, both cards offer luxury benefits that can have you traveling with comfort and security. But if you don’t want to fork over $550 for a credit card, there are travel credit cards with no annual fee or lower annual fees, such as the Chase Sapphire Preferred® Card.

The Platinum Card® from American Express Apply Now Rewards 5X Membership Rewards® points on flights booked directly with airlines or with American Express Travel and on on prepaid hotels booked on amextravel.com, 1X Membership Rewards® points on all other purchases

Welcome bonus 60,000 Membership Rewards® points after spending $5,000 within 3 months of account opening

Annual fee $550

Intro APR None

Regular APR See rates and fees

Balance transfer fee Not applicable

Foreign transaction fee None

Credit Needed Excellent/Good

See rates and fees, terms apply. On American Express’s Secure Site

Chase Sapphire Reserve® Apply Now Rewards 10X points on Lyft rides through March 2022, 3X points on travel worldwide (immediately after earning your $300 annual travel credit), 3X points on dining at restaurants worldwide, 1X point per $1 on all other purchases

Welcome bonus 50,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening — worth up to $750 toward travel when you redeem through Chase Ultimate Rewards®

Annual fee $550

Intro APR None

Regular APR 18.49% to 25.49% variable

Balance transfer fee 5%, minimum $5

Foreign transaction fee None

Credit needed Excellent

Terms apply. On Chase’s secure site

For rates and fees of The Platinum Card® from American Express, click here.

Editorial Note: Opinions, analyses, reviews or recommendations expressed in this article are those of the CNBC Select editorial staff’s alone, and have not been reviewed, approved or otherwise endorsed by any third party.


Company: cnbc, Activity: cnbc, Date: 2020-01-15  Authors: alexandria white
Keywords: news, cnbc, companies, express, fee, sapphire, platinum, rewards, luxury, american, credit, travel, chase, points, card, annual, better, reserve


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Mnuchin says more tariffs will be rolled back in phase two of trade deal

Treasury Secretary Steven Mnuchin told CNBC on Wednesday that a future “phase two” trade deal with Beijing would ease U.S. tariffs on goods purchased from China even if the next agreements are segmented into multiple rounds. But the deal is also expected to lower structural barriers for American companies hoping to do business in China. Such practices, combined with Beijing’s policy of subsidizing domestic business, can build competitive rivals to American companies seemingly overnight. One of t


Treasury Secretary Steven Mnuchin told CNBC on Wednesday that a future “phase two” trade deal with Beijing would ease U.S. tariffs on goods purchased from China even if the next agreements are segmented into multiple rounds.
But the deal is also expected to lower structural barriers for American companies hoping to do business in China.
Such practices, combined with Beijing’s policy of subsidizing domestic business, can build competitive rivals to American companies seemingly overnight.
One of t
Mnuchin says more tariffs will be rolled back in phase two of trade deal Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-15  Authors: thomas franck
Keywords: news, cnbc, companies, technology, american, mnuchin, tariffs, companies, trade, phase, china, rolled, forced, question, deal


Mnuchin says more tariffs will be rolled back in phase two of trade deal

Treasury Secretary Steven Mnuchin told CNBC on Wednesday that a future “phase two” trade deal with Beijing would ease U.S. tariffs on goods purchased from China even if the next agreements are segmented into multiple rounds.

“Just as in this deal there were certain rollbacks, in phase two there will be additional rollbacks,” he told CNBC. “It’s really just a question of — and we’ve said before — phase two may be 2A, 2B, 2C. We’ll see.”

“The first step is really focusing on enforcement, but this gives China a big incentive to get back to the table and agree to the additional issues that are still unresolved,” he added.

Mnuchin joined CNBC hours before top American and Chinese negotiators planned to sign the phase one deal that is expected to include an agreement by China to purchase some $200 billion of U.S. goods over two years.

But the deal is also expected to lower structural barriers for American companies hoping to do business in China. Specifically, the pact is said to address concerns of U.S. executives who have long complained that they are routinely pressured, if not outright forced, to share key technologies in exchange for market access.

Though Beijing denies it forces foreign companies to surrender proprietary technologies, American companies say they’re often compelled to share business secrets through backdoor tactics like joint ventures. Such practices, combined with Beijing’s policy of subsidizing domestic business, can build competitive rivals to American companies seemingly overnight.

One of the thorniest issues between the U.S. and China over the last two years, accusations of forced technology transfers and intellectual property theft, should be remedied in the first phase deal, Mnuchin said.

“It’s not a question of admission, it a question of what they’re going to do,” the Treasury secretary said. “And China has agreed to put together very significant laws to change rules and regulations and have made very strong commitments to our companies that there will not be forced technology going forward.”

Other areas of concern expected to be tackled in the deal include the misuse of pharmaceutical-related intellectual property and access for U.S. financial companies to Chinese markets. Those qualms helped drive President Donald Trump to start a tit-for-tat trade war with China nearly two years ago, when he first announced tariffs on imported steel and aluminum.

“I think [it’s] a very big win for our technology companies, for our businesses and for American workers,” Munchin added. Further, should Beijing fail to abide by the phase one stipulations, Mnuchin said Trump can always reimpose or hike tariffs on Chinese imports.

The feud between the globe’s two largest economies has resulted in each side slapping levies on billions of dollars’ worth of imports and forced major American corporations to shift supply chains throughout Asia.

U.S. farmers, in particular, have taken a heavy hit after China began buying soybeans and other agricultural commodities from Brazil and other South American countries.

— CNBC’s Eunice Yoon contributed reporting.


Company: cnbc, Activity: cnbc, Date: 2020-01-15  Authors: thomas franck
Keywords: news, cnbc, companies, technology, american, mnuchin, tariffs, companies, trade, phase, china, rolled, forced, question, deal


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Here’s what China agreed to buy from the US in the phase one trade deal

China agreed to purchase an additional $200 billion in U.S. goods over the next two years as part of the “phase one” trade deal. The two nations signed the first-phase trade agreement Wednesday afternoon at the White House. The phase one deal is seen as a sort of truce and includes concessions by the Chinese to crack down on intellectual property theft and the forced transfer of American technologies. But it also includes import targets for Beijing, which has promised to buy a host of American p


China agreed to purchase an additional $200 billion in U.S. goods over the next two years as part of the “phase one” trade deal.
The two nations signed the first-phase trade agreement Wednesday afternoon at the White House.
The phase one deal is seen as a sort of truce and includes concessions by the Chinese to crack down on intellectual property theft and the forced transfer of American technologies.
But it also includes import targets for Beijing, which has promised to buy a host of American p
Here’s what China agreed to buy from the US in the phase one trade deal Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-15  Authors: thomas franck
Keywords: news, cnbc, companies, billion, phase, work, agreed, worth, trade, buy, deal, includes, goods, heres, american, additional, china, 200


Here's what China agreed to buy from the US in the phase one trade deal

China agreed to purchase an additional $200 billion in U.S. goods over the next two years as part of the “phase one” trade deal.

The additional purchases will come on top of the 2017 U.S. export numbers.

The two nations signed the first-phase trade agreement Wednesday afternoon at the White House. The globe’s two largest economies have for the better part of two years slapped tariffs of billions of dollars’ worth of each other’s goods in one of the most protracted trade battles in modern American history.

The phase one deal is seen as a sort of truce and includes concessions by the Chinese to crack down on intellectual property theft and the forced transfer of American technologies. But it also includes import targets for Beijing, which has promised to buy a host of American products as the two sides work toward a permanent bilateral agreement.

The composition of that additional $200 billion is as follows:


Company: cnbc, Activity: cnbc, Date: 2020-01-15  Authors: thomas franck
Keywords: news, cnbc, companies, billion, phase, work, agreed, worth, trade, buy, deal, includes, goods, heres, american, additional, china, 200


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post