Gold slips from 1-month peak on Sino-US trade talk hopes

Gold bars at the Austrian Gold and Silver Separating Plant in Vienna, Austria. Gold prices steadied on Wednesday, having retreated from a one-month peak hit in the previous session as optimism surrounding trade talks between Washington and Beijing soothed investor concerns, boosting global stocks and the dollar. Simultaneously, Asian stocks also turned cautiously optimistic surrounding trade developments between the two countries on Wednesday, while still not completely discounting the possibili


Gold bars at the Austrian Gold and Silver Separating Plant in Vienna, Austria. Gold prices steadied on Wednesday, having retreated from a one-month peak hit in the previous session as optimism surrounding trade talks between Washington and Beijing soothed investor concerns, boosting global stocks and the dollar. Simultaneously, Asian stocks also turned cautiously optimistic surrounding trade developments between the two countries on Wednesday, while still not completely discounting the possibili
Gold slips from 1-month peak on Sino-US trade talk hopes Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-15
Keywords: news, cnbc, companies, remain, fung, ounce, dollar, prices, surrounding, trade, tariffs, sinous, gold, slips, 1month, talk, talks, peak, hopes


Gold slips from 1-month peak on Sino-US trade talk hopes

Gold bars at the Austrian Gold and Silver Separating Plant in Vienna, Austria.

Gold prices steadied on Wednesday, having retreated from a one-month peak hit in the previous session as optimism surrounding trade talks between Washington and Beijing soothed investor concerns, boosting global stocks and the dollar.

Spot gold was steady at $1,296.49 an ounce by 0808 GMT.

U.S. gold futures edged 0.1% higher to $1,297.20 an ounce.

“Gold is restrained as people are still interested in the dollar. The $1,300 level also looks like a good resistance,” said Peter Fung, head of dealing at Wing Fung Precious Metals in Hong Kong.

The dollar held firm in early Asian trading, having been supported on Tuesday by U.S. President Donald Trump downplaying the recent escalation in his trade war with China as “a little squabble” and insisting that talks between the two countries had not collapsed.

A stronger dollar makes gold more expensive for holders of non-U.S. currency.

Simultaneously, Asian stocks also turned cautiously optimistic surrounding trade developments between the two countries on Wednesday, while still not completely discounting the possibilities of a protracted spat.

“The (gold) market is holding because some people bought gold especially after the Chinese government also raised tariffs on U.S. goods,” Fung said, adding that the metal is expected to remain range-bound between $1,280 and $1,310 an ounce.

The biggest trigger for gold, which had been mostly range-bound for the past week, came on Monday after China announced that it would impose retaliatory tariffs on a range of U.S. goods.

There was some profit-taking in the previous session after prices jumped about $20 on Monday and above the key $1,300 level, analysts and traders said.

“The ongoing Sino-U.S. trade dispute has illustrated cooling conditions as both parties expressed willingness to resolve existing trade differences,” Phillip Futures analysts wrote in a note.

“Gold prices though easing up on bullish gains will remain supported as investors remain cautious on lingering U.S.-China trade worries in the near term.”

Market participants now keenly eye economic data from Europe that will provide further cues on the strength of the global economy.

Among other precious metals, silver rose 0.2% to $14.81 an ounce, while platinum fell 0.2% to $853.75.

Palladium fell 0.7% to $1,326.25 an ounce.


Company: cnbc, Activity: cnbc, Date: 2019-05-15
Keywords: news, cnbc, companies, remain, fung, ounce, dollar, prices, surrounding, trade, tariffs, sinous, gold, slips, 1month, talk, talks, peak, hopes


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Mnuchin hopes for ‘substantial progress’ in China trade talks

(L-R) US Treasury Secretary Steven Mnuchin, US Trade Representative Robert Lighthizer and Chinese Vice Premier Liu He pose for a group photo at the Diaoyutai State Guesthouse in Beijing on February 15, 2019. U.S. Treasury Secretary Steven Mnuchin said on Tuesday that he hopes to make “substantial progress” with Chinese negotiators in the next two rounds of trade talks, as the world’s two largest economies look for ways to end their bruising trade war. Mnuchin was speaking in Beijing, where he an


(L-R) US Treasury Secretary Steven Mnuchin, US Trade Representative Robert Lighthizer and Chinese Vice Premier Liu He pose for a group photo at the Diaoyutai State Guesthouse in Beijing on February 15, 2019. U.S. Treasury Secretary Steven Mnuchin said on Tuesday that he hopes to make “substantial progress” with Chinese negotiators in the next two rounds of trade talks, as the world’s two largest economies look for ways to end their bruising trade war. Mnuchin was speaking in Beijing, where he an
Mnuchin hopes for ‘substantial progress’ in China trade talks Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-30  Authors: jacob pramuk
Keywords: news, cnbc, companies, hopes, chinese, washington, vice, progress, talks, mnuchin, substantial, premier, trade, week, china, sides


Mnuchin hopes for 'substantial progress' in China trade talks

(L-R) US Treasury Secretary Steven Mnuchin, US Trade Representative Robert Lighthizer and Chinese Vice Premier Liu He pose for a group photo at the Diaoyutai State Guesthouse in Beijing on February 15, 2019.

U.S. Treasury Secretary Steven Mnuchin said on Tuesday that he hopes to make “substantial progress” with Chinese negotiators in the next two rounds of trade talks, as the world’s two largest economies look for ways to end their bruising trade war.

Mnuchin was speaking in Beijing, where he and U.S. Trade Representative Robert Lighthizer will hold talks this week, before Chinese Vice Premier Liu He goes to Washington next week for another round of talks in what could be the end game for negotiations.

“We’ve a meeting here, and then the vice premier and team will be coming back to Washington D.C., and we hope to make substantial progress in these two meetings, ” Mnuchin told reporters.

Beijing and Washington have cited progress on issues including intellectual property and forced technology transfer to help end a conflict marked by tit-for-tat tariffs that have cost both sides billions of dollars, disrupted supply chains and roiled financial markets.

But U.S. officials say privately that an enforcement mechanism for a deal and timelines for lifting tariffs are sticking points.

“I’m not going to comment on specific issues of the discussions,” Mnuchin said. “They’ve been quite broad as I’ve said before. We’ve made a lot of progress. We look forward to the meetings here.”

At a separate meeting on Tuesday, with a group of former U.S. lawmakers, the Chinese government’s top diplomat, State Councillor Wang Yi, said the two countries’ interests were deeply connected.

“In recent months, both countries’ economic and trade teams have held many rounds of high-level consultations and achieved much positive progress,” China’s Foreign Ministry paraphrased Wang as saying.

China hopes that both sides can “work hard, exclude disturbances, and reach a mutually beneficial, win-win agreement”, he added.

Chinese officials have also acknowledged that they view the enforcement mechanism as crucial, but that it can’t only put restraints on China.

“There must be guarantees for implementation. This is an important part of the negotiations. We must, to the greatest extent possible, lower and prevent the chances of going back on promises,” one Chinese official close to senior leaders told Reuters.

A second Chinese official with knowledge of the situation said it was too early to say work was in the final stages, but that both sides were “sprinting.”

U.S. President Donald Trump said on April 4 that a deal might be worked out in about four weeks. Last week, he said he would soon host Chinese President Xi Jinping at the White House. A meeting between the two leaders is seen as needed to cement an agreement.

Mnuchin, speaking to Fox Business Network in an interview that aired on Monday, said the trade negotiations aimed at enforcement were close to finished.

China’s foreign ministry said at its daily press briefing that substantive progress had been made on the talks but gave no details.


Company: cnbc, Activity: cnbc, Date: 2019-04-30  Authors: jacob pramuk
Keywords: news, cnbc, companies, hopes, chinese, washington, vice, progress, talks, mnuchin, substantial, premier, trade, week, china, sides


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Stocks in Asia mixed amid hopes of progress in US-China trade

Overnight on Wall Street, stocks finished the trading day stateside close to the flatline. The Dow Jones Industrial Average shed 14.11 points to 26,143.05 and the S&P 500 posted a marginal gain at 2,888.32. “We are hopeful we can do this quickly, but we are not going to set an arbitrary deadline,” Mnuchin added. Meanwhile, U.S. Federal Reserve Vice Chairman Richard Clarida told CNBC on Thursday that officials at the central bank see no necessity to move interest rates in either direction at pres


Overnight on Wall Street, stocks finished the trading day stateside close to the flatline. The Dow Jones Industrial Average shed 14.11 points to 26,143.05 and the S&P 500 posted a marginal gain at 2,888.32. “We are hopeful we can do this quickly, but we are not going to set an arbitrary deadline,” Mnuchin added. Meanwhile, U.S. Federal Reserve Vice Chairman Richard Clarida told CNBC on Thursday that officials at the central bank see no necessity to move interest rates in either direction at pres
Stocks in Asia mixed amid hopes of progress in US-China trade Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-12  Authors: eustance huang
Keywords: news, cnbc, companies, dollar, progress, hopes, trade, amid, wall, street, mixed, report, rate, open, told, asia, stocks, trading, uschina, deal


Stocks in Asia mixed amid hopes of progress in US-China trade

Overnight on Wall Street, stocks finished the trading day stateside close to the flatline. The Dow Jones Industrial Average shed 14.11 points to 26,143.05 and the S&P 500 posted a marginal gain at 2,888.32. The Nasdaq Composite declined 0.2 percent to 7,947.36.

The Wall Street Journal reported Thursday that China agreed to open its cloud-computing sector to foreign companies in an attempt to sweeten a deal with the U.S.

That report followed Treasury Secretary Steven Mnuchin telling CNBC on Wednesday that Washington and Beijing have “pretty much agreed on an enforcement mechanism” for when a deal is struck.The two economic powerhouses have been attempting to strike a deal amid a protracted trade fight.

“We are hopeful we can do this quickly, but we are not going to set an arbitrary deadline,” Mnuchin added. “If we can complete this agreement, this will be the most significant changes to the economic relationship between the U.S. and China in really the last 40 years.”

Meanwhile, U.S. Federal Reserve Vice Chairman Richard Clarida told CNBC on Thursday that officials at the central bank see no necessity to move interest rates in either direction at present.

“One of the virtues of having the ability to be patient is that you just let the data come in,” he told CNBC on Thursday. “We don’t see a need now for a move in either direction.”

Clarida’s comments came a day after the FOMC released minutes from its March meeting, at which the Fed adjusted its forecast to no rate moves this year. The minutes reflected a central bank that will watch the data closely this year, with some members leaving open the chance of a rate hike if conditions continue to improve.

The U.S. dollar index, which tracks the greenback against a basket of its peers, was last at 97.144 after rising from levels below 97.0 yesterday.

The Japanese yen traded at 111.66 against the dollar after weakening from highs below 111.0 in the previous session. The Australian dollar changed hands at $0.7116 following a slip from the $0.717 handle yesterday.

Oil prices rose in the morning of Asian trading hours, with the international benchmark Brent crude futures adding 0.2 percent to $70.97 per barrel and U.S. crude futures gaining 0.27 percent to $63.75 per barrel.

— CNBC’s Fred Imbert and Jeff Cox contributed to this report.


Company: cnbc, Activity: cnbc, Date: 2019-04-12  Authors: eustance huang
Keywords: news, cnbc, companies, dollar, progress, hopes, trade, amid, wall, street, mixed, report, rate, open, told, asia, stocks, trading, uschina, deal


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

China economy: smaller cities offer hopes of growth amid slowdown

Beneath the gloom overhanging China’s economy, some big companies are finding growth opportunities in smaller cities outside Beijing and Shanghai. Much of the growth for companies in these markets comes from smaller cities and county districts, which analysts say account for more than 70 percent of China’s population. “In our big picture now, these so-called lower-tier cities, they will be basically the major driver of growth in China in the next 10 to 15 years,” Robin Xing, chief China economis


Beneath the gloom overhanging China’s economy, some big companies are finding growth opportunities in smaller cities outside Beijing and Shanghai. Much of the growth for companies in these markets comes from smaller cities and county districts, which analysts say account for more than 70 percent of China’s population. “In our big picture now, these so-called lower-tier cities, they will be basically the major driver of growth in China in the next 10 to 15 years,” Robin Xing, chief China economis
China economy: smaller cities offer hopes of growth amid slowdown Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-01  Authors: evelyn cheng, qing qing, xinhua news agency, getty images, visual china group, -qin gang, deputy secretary general at center for china
Keywords: news, cnbc, companies, smaller, based, cities, hopes, amid, big, beijing, economy, chinas, china, slowdown, growth, companies, offer, lowertier


China economy: smaller cities offer hopes of growth amid slowdown

Beneath the gloom overhanging China’s economy, some big companies are finding growth opportunities in smaller cities outside Beijing and Shanghai.

Earnings and analyst reports released in the last few weeks indicate there are still many areas of untapped potential in the world’s second-largest economy.

In particular, five industries present prospects for growth: Internet, autos, healthcare, education and tourism. Much of the growth for companies in these markets comes from smaller cities and county districts, which analysts say account for more than 70 percent of China’s population.

“In our big picture now, these so-called lower-tier cities, they will be basically the major driver of growth in China in the next 10 to 15 years,” Robin Xing, chief China economist at Morgan Stanley, said in a phone interview Thursday.

China’s cities are separated into tiers based loosely on population and economic size. For example, Beijing, Shanghai, Shenzhen and Guangzhou are generally considered tier-one cities, while lower-tier cities are smaller.

Xing said his expectations for growth in less developed parts of China are based on the government’s push to develop city clusters, bringing the services and productivity levels of big cities within closer reach of the roughly 600 million people living in rural China.

He also pointed out that his growth predictions are based on the assumption that the Chinese government will follow through on reforms regarding benefits from residency permits known as “hukou,” as well as grant greater access to foreign firms.


Company: cnbc, Activity: cnbc, Date: 2019-04-01  Authors: evelyn cheng, qing qing, xinhua news agency, getty images, visual china group, -qin gang, deputy secretary general at center for china
Keywords: news, cnbc, companies, smaller, based, cities, hopes, amid, big, beijing, economy, chinas, china, slowdown, growth, companies, offer, lowertier


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Dow futures rise 100 points amid hopes of progress in US-China trade talks

U.S. stock index futures were slightly higher Friday morning, amid renewed optimism on the progress of trade talks between Washington and Beijing. ET, Dow Jones Industrial Average futures rose 107 points, indicating a gain of more than 114 points. Futures on the S&P 500 and Nasdaq 100 also rose. U.S. Treasury Secretary Steven Mnuchin said on Friday he had a “productive working dinner” with Chinese trade officials the previous night in Beijing, as both sides restart negotiations with the hope of


U.S. stock index futures were slightly higher Friday morning, amid renewed optimism on the progress of trade talks between Washington and Beijing. ET, Dow Jones Industrial Average futures rose 107 points, indicating a gain of more than 114 points. Futures on the S&P 500 and Nasdaq 100 also rose. U.S. Treasury Secretary Steven Mnuchin said on Friday he had a “productive working dinner” with Chinese trade officials the previous night in Beijing, as both sides restart negotiations with the hope of
Dow futures rise 100 points amid hopes of progress in US-China trade talks Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-29  Authors: fred imbert, sam meredith
Keywords: news, cnbc, companies, uschina, rise, talks, worth, amid, futures, working, progress, officials, hopes, stock, worlds, points, overnight, dow, washington, trade


Dow futures rise 100 points amid hopes of progress in US-China trade talks

U.S. stock index futures were slightly higher Friday morning, amid renewed optimism on the progress of trade talks between Washington and Beijing.

At around 7 a.m. ET, Dow Jones Industrial Average futures rose 107 points, indicating a gain of more than 114 points. Futures on the S&P 500 and Nasdaq 100 also rose.

Market focus is largely attuned to global trade developments, after U.S. officials said China had made proposals on a range of issues that go further than it has before — including on forced technology transfer.

U.S. Treasury Secretary Steven Mnuchin said on Friday he had a “productive working dinner” with Chinese trade officials the previous night in Beijing, as both sides restart negotiations with the hope of bringing an end to their protracted trade dispute.

The world’s two largest economies have imposed tariffs on billions of dollars’ worth of one another’s goods over the past year, battering financial markets and souring business and consumer sentiment.

Chinese stocks surged overnight. The Shanghai Composite gained 3.2 percent overnight to lead stock indexes in the region.


Company: cnbc, Activity: cnbc, Date: 2019-03-29  Authors: fred imbert, sam meredith
Keywords: news, cnbc, companies, uschina, rise, talks, worth, amid, futures, working, progress, officials, hopes, stock, worlds, points, overnight, dow, washington, trade


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Hopes rise for US-China trade deal after Mueller report

With President Donald Trump in a stronger position now that the Mueller investigation is out of the way, China has more incentive reach a deal on U.S. trade, analysts say. Over the weekend, U.S. Attorney General William Barr said a nearly two-year investigation by special counsel Robert Mueller did not find enough evidence to make a case against Trump in obstructing justice, or running a campaign that coordinated with Russia’s efforts to influence the 2016 election. “The Mueller report isn’t a g


With President Donald Trump in a stronger position now that the Mueller investigation is out of the way, China has more incentive reach a deal on U.S. trade, analysts say. Over the weekend, U.S. Attorney General William Barr said a nearly two-year investigation by special counsel Robert Mueller did not find enough evidence to make a case against Trump in obstructing justice, or running a campaign that coordinated with Russia’s efforts to influence the 2016 election. “The Mueller report isn’t a g
Hopes rise for US-China trade deal after Mueller report Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-25  Authors: evelyn cheng, fred dufour, afp, getty images, -jeffrey wright, us analyst at eurasia group
Keywords: news, cnbc, companies, trump, rise, trade, hopes, hirson, weekend, way, william, twoyear, mueller, china, uschina, deal, report, investigation


Hopes rise for US-China trade deal after Mueller report

With President Donald Trump in a stronger position now that the Mueller investigation is out of the way, China has more incentive reach a deal on U.S. trade, analysts say.

Over the weekend, U.S. Attorney General William Barr said a nearly two-year investigation by special counsel Robert Mueller did not find enough evidence to make a case against Trump in obstructing justice, or running a campaign that coordinated with Russia’s efforts to influence the 2016 election.

“The Mueller report isn’t a game changer, but it should encourage China to keep up recent momentum in trying to finalize a deal with Trump,” Michael Hirson, Asia director at consulting firm Eurasia Group, said in an email to CNBC.

“China will still have redlines, and a deal is by no means guaranteed, but the fact that an impeachment looks less likely will be meaningful for Beijing’s calculus,” Hirson said. “One question now is whether Trump himself decides that he now has more leverage over Beijing and drives a harder line in negotiations.”


Company: cnbc, Activity: cnbc, Date: 2019-03-25  Authors: evelyn cheng, fred dufour, afp, getty images, -jeffrey wright, us analyst at eurasia group
Keywords: news, cnbc, companies, trump, rise, trade, hopes, hirson, weekend, way, william, twoyear, mueller, china, uschina, deal, report, investigation


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Trump pushing for trade deal with China in hopes of boosting stock market ahead of 2020 bid

These are the sectors that could benefit from a China trade resolution 7 Hours Ago | 03:25President Donald Trump is pushing hard to strike a trade deal with China in the hope of lifting the stock market ahead of his re-election bid, three sources briefed on talks told CNBC. The president is increasingly concerned that the lack of a trade agreement could knock down stocks, Bloomberg News reported earlier Wednesday. Trump has taken notice of the market’s gains as both sides get closer to a deal, t


These are the sectors that could benefit from a China trade resolution 7 Hours Ago | 03:25President Donald Trump is pushing hard to strike a trade deal with China in the hope of lifting the stock market ahead of his re-election bid, three sources briefed on talks told CNBC. The president is increasingly concerned that the lack of a trade agreement could knock down stocks, Bloomberg News reported earlier Wednesday. Trump has taken notice of the market’s gains as both sides get closer to a deal, t
Trump pushing for trade deal with China in hopes of boosting stock market ahead of 2020 bid Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-06  Authors: fred imbert, kayla tausche, damir sagolj
Keywords: news, cnbc, companies, sources, china, rally, gains, bid, boosting, stocks, trump, pushing, strike, stock, hopes, deal, trade, market


Trump pushing for trade deal with China in hopes of boosting stock market ahead of 2020 bid

These are the sectors that could benefit from a China trade resolution 7 Hours Ago | 03:25

President Donald Trump is pushing hard to strike a trade deal with China in the hope of lifting the stock market ahead of his re-election bid, three sources briefed on talks told CNBC.

The sources said Trump wants a rally as he gets set to run for a second term and has decided that resolving the U.S.-China trade dispute can make that happen.

The president is increasingly concerned that the lack of a trade agreement could knock down stocks, Bloomberg News reported earlier Wednesday. Trump has taken notice of the market’s gains as both sides get closer to a deal, the report added.

U.S. stocks started 2019 strong, with the S&P 500 surging more than 11 percent through Tuesday’s close. Part of the rally has been fueled by investors increasing bets that China and the U.S. will strike a trade deal soon. However, there are growing concerns that a deal is fully baked into the market, possibly limiting any more gains coming from positive trade news.


Company: cnbc, Activity: cnbc, Date: 2019-03-06  Authors: fred imbert, kayla tausche, damir sagolj
Keywords: news, cnbc, companies, sources, china, rally, gains, bid, boosting, stocks, trump, pushing, strike, stock, hopes, deal, trade, market


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

China markets jump amid hopes of a Sino-US trade deal

Stocks in mainland China advanced on Monday following reports that the U.S and China might be close to finalizing a trade deal, with Beijing offering to lower tariffs on certain U.S. products. By the end of its trading day, the Shanghai composite rose 1.12 percent to close at about 3,027.58 — breaching the 3,000 level for the first time since June 2018. Meanwhile, the Shenzhen component surged 2.364 percent to close at 9,384.42 and the Shenzhen composite added 2.214 percent to finish its trading


Stocks in mainland China advanced on Monday following reports that the U.S and China might be close to finalizing a trade deal, with Beijing offering to lower tariffs on certain U.S. products. By the end of its trading day, the Shanghai composite rose 1.12 percent to close at about 3,027.58 — breaching the 3,000 level for the first time since June 2018. Meanwhile, the Shenzhen component surged 2.364 percent to close at 9,384.42 and the Shenzhen composite added 2.214 percent to finish its trading
China markets jump amid hopes of a Sino-US trade deal Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-04  Authors: eustance huang
Keywords: news, cnbc, companies, lower, china, index, shenzhen, hopes, trading, rose, jump, close, sinous, deal, shares, advanced, heavyweight, trade, amid, day, markets


China markets jump amid hopes of a Sino-US trade deal

Stocks in mainland China advanced on Monday following reports that the U.S and China might be close to finalizing a trade deal, with Beijing offering to lower tariffs on certain U.S. products.

By the end of its trading day, the Shanghai composite rose 1.12 percent to close at about 3,027.58 — breaching the 3,000 level for the first time since June 2018. Meanwhile, the Shenzhen component surged 2.364 percent to close at 9,384.42 and the Shenzhen composite added 2.214 percent to finish its trading day at 1,599.48.

Hong Kong’s Hang Seng index also rose more than 0.7 percent in its final hour of trading, with shares of Chinese telecommunications equipment firm ZTE gaining 1.84 percent.

Other markets in Asia mostly gained. Japan’s Nikkei 225 advanced 1.02 percent to close at 21,822.04 as shares of index heavyweight Fanuc jumped 3.48 percent. The Topix was 0.73 percent higher to end its trading day at 1,627.59.

The ASX 200 in Australia rose 0.4 percent to close at 6,217.40, with the materials subindex gaining 0.66 percent. Shares of major miners advanced: Rio Tinto added 1.59 percent, Fortescue Metals Group soared 6.86 percent and BHP Billiton gained 1.18 percent.

In South Korea, however, the Kospi shed earlier gains to close 0.22 percent lower at 2,190.66 with industry heavyweight Samsung Electronics declining 0.55 percent.


Company: cnbc, Activity: cnbc, Date: 2019-03-04  Authors: eustance huang
Keywords: news, cnbc, companies, lower, china, index, shenzhen, hopes, trading, rose, jump, close, sinous, deal, shares, advanced, heavyweight, trade, amid, day, markets


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

VW CEO says he hopes he’s done enough to please Trump and avoid tariffs

VW CEO: We want more of U.S. market share 2 Hours Ago | 02:35Volkswagen Group Chief Executive Herbert Diess told CNBC Friday that he hopes the German auto firm has done enough to please President Donald Trump and avoid punitive import tariffs. Washington is currently holding out for fresh trade talks with the European Union and has said if it’s not satisfied it could slap tariffs on EU cars and parts coming into the United States. Trump has complained about German cars’ presence on U.S. streets


VW CEO: We want more of U.S. market share 2 Hours Ago | 02:35Volkswagen Group Chief Executive Herbert Diess told CNBC Friday that he hopes the German auto firm has done enough to please President Donald Trump and avoid punitive import tariffs. Washington is currently holding out for fresh trade talks with the European Union and has said if it’s not satisfied it could slap tariffs on EU cars and parts coming into the United States. Trump has complained about German cars’ presence on U.S. streets
VW CEO says he hopes he’s done enough to please Trump and avoid tariffs Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-22  Authors: david reid, getty images
Keywords: news, cnbc, companies, trump, ceo, states, german, diess, vw, united, avoid, billion, import, hes, tariffs, hopes, market


VW CEO says he hopes he's done enough to please Trump and avoid tariffs

VW CEO: We want more of U.S. market share 2 Hours Ago | 02:35

Volkswagen Group Chief Executive Herbert Diess told CNBC Friday that he hopes the German auto firm has done enough to please President Donald Trump and avoid punitive import tariffs.

Washington is currently holding out for fresh trade talks with the European Union and has said if it’s not satisfied it could slap tariffs on EU cars and parts coming into the United States. Trump has complained about German cars’ presence on U.S. streets and tweeted threats to tax European, and particularly German, vehicles.

Diess has said import tariffs could cost VW as much 2.5 billion euros ($2.8 billion) each year.

The German firm announced in January that it’s investing $800 million in its factory in Chattanooga, Tennessee to prepare the location for the production of new electric cars.

Speaking to CNBC’s Annette Weisbach at VW’s Wolfsburg headquarters, the German car chief said the investment appeared to please the U.S. president.

“We received a positive tweet,” said Diess, before adding that he hoped VW would “do everything to avoid import taxes.”

Diess added that currently VW only has a 4 percent market share in the United States and is committed to growing that number to become a “volume producer.”

On a global basis VW Group posted 2018 full-year revenues of 235.8 billion euros on Friday. In its outlook for 2019, Diess said he expected a challenging year but predicted sales to rise by around 5 percent.

The key market of China could prove a challenge, however, with Diess admitting that sales there had slowed in the final quarter of 2018 and January 2019 had witnessed a 10 percent slump year-on-year.

Shares of Volkswagen initially rose after the news, but were 0.25 percent lower by 3:45 p.m. London time on Friday afternoon.


Company: cnbc, Activity: cnbc, Date: 2019-02-22  Authors: david reid, getty images
Keywords: news, cnbc, companies, trump, ceo, states, german, diess, vw, united, avoid, billion, import, hes, tariffs, hopes, market


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

VW CEO says he hopes he’s done enough to please Trump and avoid tariffs

VW CEO: We want more of U.S. market share 2 Hours Ago | 02:35Volkswagen Group Chief Executive Herbert Diess told CNBC Friday that he hopes the German auto firm has done enough to please President Donald Trump and avoid punitive import tariffs. Washington is currently holding out for fresh trade talks with the European Union and has said if it’s not satisfied it could slap tariffs on EU cars and parts coming into the United States. Trump has complained about German cars’ presence on U.S. streets


VW CEO: We want more of U.S. market share 2 Hours Ago | 02:35Volkswagen Group Chief Executive Herbert Diess told CNBC Friday that he hopes the German auto firm has done enough to please President Donald Trump and avoid punitive import tariffs. Washington is currently holding out for fresh trade talks with the European Union and has said if it’s not satisfied it could slap tariffs on EU cars and parts coming into the United States. Trump has complained about German cars’ presence on U.S. streets
VW CEO says he hopes he’s done enough to please Trump and avoid tariffs Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-22  Authors: david reid, getty images
Keywords: news, cnbc, companies, trump, ceo, states, german, diess, vw, united, avoid, billion, import, hes, tariffs, hopes, market


VW CEO says he hopes he's done enough to please Trump and avoid tariffs

VW CEO: We want more of U.S. market share 2 Hours Ago | 02:35

Volkswagen Group Chief Executive Herbert Diess told CNBC Friday that he hopes the German auto firm has done enough to please President Donald Trump and avoid punitive import tariffs.

Washington is currently holding out for fresh trade talks with the European Union and has said if it’s not satisfied it could slap tariffs on EU cars and parts coming into the United States. Trump has complained about German cars’ presence on U.S. streets and tweeted threats to tax European, and particularly German, vehicles.

Diess has said import tariffs could cost VW as much 2.5 billion euros ($2.8 billion) each year.

The German firm announced in January that it’s investing $800 million in its factory in Chattanooga, Tennessee to prepare the location for the production of new electric cars.

Speaking to CNBC’s Annette Weisbach at VW’s Wolfsburg headquarters, the German car chief said the investment appeared to please the U.S. president.

“We received a positive tweet,” said Diess, before adding that he hoped VW would “do everything to avoid import taxes.”

Diess added that currently VW only has a 4 percent market share in the United States and is committed to growing that number to become a “volume producer.”

On a global basis VW Group posted 2018 full-year revenues of 235.8 billion euros on Friday. In its outlook for 2019, Diess said he expected a challenging year but predicted sales to rise by around 5 percent.

The key market of China could prove a challenge, however, with Diess admitting that sales there had slowed in the final quarter of 2018 and January 2019 had witnessed a 10 percent slump year-on-year.

Shares of Volkswagen initially rose after the news, but were 0.25 percent lower by 3:45 p.m. London time on Friday afternoon.


Company: cnbc, Activity: cnbc, Date: 2019-02-22  Authors: david reid, getty images
Keywords: news, cnbc, companies, trump, ceo, states, german, diess, vw, united, avoid, billion, import, hes, tariffs, hopes, market


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post