Japan opens the door to more foreigners. That may not solve its labor woes

Japan’s government formally passed legislation over the weekend to allow more foreign workers in a move aimed at alleviating severe labor shortages that are a major drag on the Japanese economy. From April next year, the world’s third-largest economy will allow unskilled foreigners to work in 14 sectors such as construction and elderly care for up to five years. Skilled foreigners, meanwhile, will be able to migrate with their families and remain in Japan indefinitely. Currently, unskilled worke


Japan’s government formally passed legislation over the weekend to allow more foreign workers in a move aimed at alleviating severe labor shortages that are a major drag on the Japanese economy. From April next year, the world’s third-largest economy will allow unskilled foreigners to work in 14 sectors such as construction and elderly care for up to five years. Skilled foreigners, meanwhile, will be able to migrate with their families and remain in Japan indefinitely. Currently, unskilled worke
Japan opens the door to more foreigners. That may not solve its labor woes Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-12-13  Authors: nyshka chandran, carl court, getty images, -marcel thieliant, capital economics
Keywords: news, cnbc, companies, work, woes, training, door, allow, solve, foreigners, worlds, workforcefrom, weekend, unskilled, thirdlargest, labor, workers, opens, japan


Japan opens the door to more foreigners. That may not solve its labor woes

Japan’s government formally passed legislation over the weekend to allow more foreign workers in a move aimed at alleviating severe labor shortages that are a major drag on the Japanese economy.

That may not be enough to mitigate the nation’s dwindling workforce.

From April next year, the world’s third-largest economy will allow unskilled foreigners to work in 14 sectors such as construction and elderly care for up to five years. Skilled foreigners, meanwhile, will be able to migrate with their families and remain in Japan indefinitely. Prime Minister Shinzo Abe’s cabinet first approved the laws last month.

Currently, unskilled workers are only accepted under an intern training program. Foreigners with specialized knowledge who don’t apply for permanent residency can only live in the country for a limited time without family members.


Company: cnbc, Activity: cnbc, Date: 2018-12-13  Authors: nyshka chandran, carl court, getty images, -marcel thieliant, capital economics
Keywords: news, cnbc, companies, work, woes, training, door, allow, solve, foreigners, worlds, workforcefrom, weekend, unskilled, thirdlargest, labor, workers, opens, japan


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After winning leadership vote, Theresa May heads to Brussels to debate Irish border

The Irish border issue has been around since Brexit talks first started 18 months ago, but it’s only recently emerged as a widely recognized crucial element of negotiations. Still, the E.U. European Council President Donald Tusk has already made clear that the current Brexit agreement, which was approved by E.U. leaders in late November, is the only option on the table. “We can perhaps repeat what it can and cannot do in a different format, but the negotiation on the backstop is done,” a senior


The Irish border issue has been around since Brexit talks first started 18 months ago, but it’s only recently emerged as a widely recognized crucial element of negotiations. Still, the E.U. European Council President Donald Tusk has already made clear that the current Brexit agreement, which was approved by E.U. leaders in late November, is the only option on the table. “We can perhaps repeat what it can and cannot do in a different format, but the negotiation on the backstop is done,” a senior
After winning leadership vote, Theresa May heads to Brussels to debate Irish border Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-12-13  Authors: nyshka chandran
Keywords: news, cnbc, companies, eu, told, agreement, negotiator, heads, leaders, leadership, debate, eus, theresa, winning, brexit, backstop, europe, vote, irish, border, senior, brussels


After winning leadership vote, Theresa May heads to Brussels to debate Irish border

The Irish border issue has been around since Brexit talks first started 18 months ago, but it’s only recently emerged as a widely recognized crucial element of negotiations. Still, the E.U. is unlikely to change its stance on the matter.

“We know that the E.U. will not renegotiate but they may offer some clarifications or addendums or some kind of promise of a future comprehensive trade and political agreement — but they will not really reopen the deal that London signed only three weeks ago,” Adriano Bosoni, senior Europe analyst at geopolitical intelligence firm Stratfor, told CNBC.

European Council President Donald Tusk has already made clear that the current Brexit agreement, which was approved by E.U. leaders in late November, is the only option on the table.

At the Brussels gathering, “the EU’s chief negotiator, Michel Barnier, will explain to the EU’s 27 leaders why the demands the U.K. Government is making would contradict the backstop, and so can’t be delivered,” Mujtaba Rahman, managing director for Europe at consultancy Eurasia Group, said in a Thursday note.

“We can perhaps repeat what it can and cannot do in a different format, but the negotiation on the backstop is done,” a senior European negotiator reportedly told Rahman.

The situation, however, isn’t entirely bleak for May.


Company: cnbc, Activity: cnbc, Date: 2018-12-13  Authors: nyshka chandran
Keywords: news, cnbc, companies, eu, told, agreement, negotiator, heads, leaders, leadership, debate, eus, theresa, winning, brexit, backstop, europe, vote, irish, border, senior, brussels


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India’s ruling party headed for setbacks in state elections amid farmer unrest

Farmer discontent and weak job growth could hurt the performance of Indian Prime Minister Narendra Modi and his ruling Bharatiya Janata Party in state elections. That offers a crucial opportunity for the main opposition party, the Indian National Congress, to shine. Five states recently went to the polls to elect representatives to their respective assemblies. Votes will be counted on Tuesday, with special attention on the regions of Madhya Pradesh, Chhattisgarh and Rajasthan. Analysts anticipat


Farmer discontent and weak job growth could hurt the performance of Indian Prime Minister Narendra Modi and his ruling Bharatiya Janata Party in state elections. That offers a crucial opportunity for the main opposition party, the Indian National Congress, to shine. Five states recently went to the polls to elect representatives to their respective assemblies. Votes will be counted on Tuesday, with special attention on the regions of Madhya Pradesh, Chhattisgarh and Rajasthan. Analysts anticipat
India’s ruling party headed for setbacks in state elections amid farmer unrest Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-12-10  Authors: nyshka chandran, vishal bhatnagar, nurphoto, getty images, -radhika rao, economist at dbs bank
Keywords: news, cnbc, companies, ruling, farmer, serve, state, national, rajasthan, indias, party, elections, opposition, pradesh, unrest, states, studies, headed, indian, amid, setbacks


India's ruling party headed for setbacks in state elections amid farmer unrest

Farmer discontent and weak job growth could hurt the performance of Indian Prime Minister Narendra Modi and his ruling Bharatiya Janata Party in state elections. That offers a crucial opportunity for the main opposition party, the Indian National Congress, to shine.

Five states recently went to the polls to elect representatives to their respective assemblies. Votes will be counted on Tuesday, with special attention on the regions of Madhya Pradesh, Chhattisgarh and Rajasthan. The three Hindi-speaking areas boast a combined state domestic product of roughly $305 billion and are among the country’s easiest places to do business, according to the World Bank.

Analysts anticipate the outcome in the three states could serve as a preview for the country’s general election in 2019.

“The results of these elections, while not conclusive, may serve as bellwethers for whether the nearly 65 parliamentary seats from the electorally important states of Madhya Pradesh, Rajasthan, and Chhattisgarh will ultimately go to the opposition Indian National Congress party or to the BJP in 2019,” said Kartikeya Singh, deputy director of the Wadhwani Chair in U.S.-India policy studies at the Center for Strategic and International Studies, in a note.


Company: cnbc, Activity: cnbc, Date: 2018-12-10  Authors: nyshka chandran, vishal bhatnagar, nurphoto, getty images, -radhika rao, economist at dbs bank
Keywords: news, cnbc, companies, ruling, farmer, serve, state, national, rajasthan, indias, party, elections, opposition, pradesh, unrest, states, studies, headed, indian, amid, setbacks


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There may be more at stake than just trade concessions in the US-China tariff battle

Trade frictions between the world’s two largest economies go well beyond the parameters of imports and exports. Washington has been attempting to negotiate with Beijing about issues like forced tech transfers and intellectual property theft, but there’s a growing sense among international analysts that talks may also be touching on other deep-rooted issues in their relationship, particularly on the national security and military front. The ongoing spat is a reflection of great power rivalries, p


Trade frictions between the world’s two largest economies go well beyond the parameters of imports and exports. Washington has been attempting to negotiate with Beijing about issues like forced tech transfers and intellectual property theft, but there’s a growing sense among international analysts that talks may also be touching on other deep-rooted issues in their relationship, particularly on the national security and military front. The ongoing spat is a reflection of great power rivalries, p
There may be more at stake than just trade concessions in the US-China tariff battle Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-12-06  Authors: nyshka chandran, kevin lemarque
Keywords: news, cnbc, companies, tariff, transfers, concessions, wrote, battle, dispute, stake, war, worlds, trade, typical, uschina, tech, trumps, issues


There may be more at stake than just trade concessions in the US-China tariff battle

Trade frictions between the world’s two largest economies go well beyond the parameters of imports and exports.

Washington has been attempting to negotiate with Beijing about issues like forced tech transfers and intellectual property theft, but there’s a growing sense among international analysts that talks may also be touching on other deep-rooted issues in their relationship, particularly on the national security and military front.

The ongoing spat is a reflection of great power rivalries, political scientist Joseph Nye wrote in a Project Syndicate editorial last month: “It is much more than a typical trade dispute like, say, America’s recent clash with Canada over access to that country’s dairy market.”

Many economists have pointed out that the current dispute is more of a tech war than a tariff war as U.S. President Donald Trump’s administration targets China’s technology sector practices. Beijing’s militarization of the South China Sea and the sovereignty of Taiwan could also be influencing negotiations.


Company: cnbc, Activity: cnbc, Date: 2018-12-06  Authors: nyshka chandran, kevin lemarque
Keywords: news, cnbc, companies, tariff, transfers, concessions, wrote, battle, dispute, stake, war, worlds, trade, typical, uschina, tech, trumps, issues


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South Korean peace efforts look ‘out of sync’ with elimination of North Korean nukes

South Korea’s desire to engage and unify with its reclusive northern neighbor appears to be clashing with Washington’s goal of eliminating nuclear weapons on the Korean Peninsula. As the two Koreas make steady progress toward reconciliation — a South Korean train on Friday traveled across the border into the North for the first time in a decade — there are mounting concerns that peace efforts may overshadow the denuclearization of North Korea. From joint railway projects to sporting exchanges, S


South Korea’s desire to engage and unify with its reclusive northern neighbor appears to be clashing with Washington’s goal of eliminating nuclear weapons on the Korean Peninsula. As the two Koreas make steady progress toward reconciliation — a South Korean train on Friday traveled across the border into the North for the first time in a decade — there are mounting concerns that peace efforts may overshadow the denuclearization of North Korea. From joint railway projects to sporting exchanges, S
South Korean peace efforts look ‘out of sync’ with elimination of North Korean nukes Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-12-05  Authors: nyshka chandran, chung sung-jun, getty images news, getty images, -hyung-a kim, australian national university
Keywords: news, cnbc, companies, nukes, denuclearization, peace, joint, south, korea, sync, korean, progress, efforts, elimination, weapons, koreas, north, look


South Korean peace efforts look 'out of sync' with elimination of North Korean nukes

South Korea’s desire to engage and unify with its reclusive northern neighbor appears to be clashing with Washington’s goal of eliminating nuclear weapons on the Korean Peninsula.

As the two Koreas make steady progress toward reconciliation — a South Korean train on Friday traveled across the border into the North for the first time in a decade — there are mounting concerns that peace efforts may overshadow the denuclearization of North Korea.

“We have made clear to the Republic of Korea that we do want to make sure that peace on the peninsula and the denuclearization of North Korea aren’t lagging behind the increase in the amount of inter-relationship between the two Koreas,” U.S. Secretary of State Mike Pompeo said in November.

From joint railway projects to sporting exchanges, South Korean President Moon Jae-In’s government is looking to spend hundreds of millions on economic and cultural initiatives with Pyongyang to promote integration and reunification. So far, the two countries have agreed to reinstate a joint military commission, develop mechanisms for family reunions and even pursue a joint bid to co-host the 2032 Olympics.

In Washington, many are now comparing the rapid pace of warming inter-Korea relations with the slow progress of denuclearization.


Company: cnbc, Activity: cnbc, Date: 2018-12-05  Authors: nyshka chandran, chung sung-jun, getty images news, getty images, -hyung-a kim, australian national university
Keywords: news, cnbc, companies, nukes, denuclearization, peace, joint, south, korea, sync, korean, progress, efforts, elimination, weapons, koreas, north, look


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Paul Manafort reportedly tried to make a deal with Ecuador to hand over Julian Assange

Paul Manafort, the embattled former campaign chief of President Donald Trump, attempted to broker a deal between Washington and the government of Ecuador over Wikileaks founder Julian Assange, the New York Times reported. But no deal ever materialized and there was no evidence of Manafort working with U.S. officials on the matter, the newspaper said. Last week, CNN reported that special counsel Robert Mueller’s team was investigating a 2017 meeting between Manafort and Moreno. Mueller was specif


Paul Manafort, the embattled former campaign chief of President Donald Trump, attempted to broker a deal between Washington and the government of Ecuador over Wikileaks founder Julian Assange, the New York Times reported. But no deal ever materialized and there was no evidence of Manafort working with U.S. officials on the matter, the newspaper said. Last week, CNN reported that special counsel Robert Mueller’s team was investigating a 2017 meeting between Manafort and Moreno. Mueller was specif
Paul Manafort reportedly tried to make a deal with Ecuador to hand over Julian Assange Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-12-04  Authors: nyshka chandran, jonathan ernst
Keywords: news, cnbc, companies, reportedly, assange, reported, wikileaks, tried, york, julian, hand, deal, president, moreno, manafort, ecuador, paul, times, washington


Paul Manafort reportedly tried to make a deal with Ecuador to hand over Julian Assange

Paul Manafort, the embattled former campaign chief of President Donald Trump, attempted to broker a deal between Washington and the government of Ecuador over Wikileaks founder Julian Assange, the New York Times reported.

During meetings with incoming Ecuadorian President Lenin Moreno in May 2017, Manafort suggested he could help negotiate an agreement for the South American country to hand over Assange to the U.S., the Times said, citing people familiar with the talks.

Assange has been granted asylum in Ecuador’s embassy in London since 2012 as he seeks to avoid extradition to Sweden where he faces accusations of sex crimes. In exchange for the whistle-blower, Moreno’s government would get concessions like debt relief from Washington, according to the Times. But no deal ever materialized and there was no evidence of Manafort working with U.S. officials on the matter, the newspaper said.

The White House did not immediately respond to CNBC’s request for comment that was sent outside of U.S. business hours.

Last week, CNN reported that special counsel Robert Mueller’s team was investigating a 2017 meeting between Manafort and Moreno. Mueller was specifically interested in finding out if WikiLeaks or Assange were discussed during those talks, CNN said.

Manafort faces more than a decade in prison for charges that include money laundering, tax fraud, failing to report foreign bank accounts and witness tampering.

Read the New York Times story for more details on Paul Manafort’s reported dealings with Ecuador.


Company: cnbc, Activity: cnbc, Date: 2018-12-04  Authors: nyshka chandran, jonathan ernst
Keywords: news, cnbc, companies, reportedly, assange, reported, wikileaks, tried, york, julian, hand, deal, president, moreno, manafort, ecuador, paul, times, washington


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Trump’s description of the China trade deal doesn’t match the official White House version

“The results of the discussions in Buenos Aires are positive, but contrary to President Trump’s enthusiastic comments, did not result in a breakthrough.” The president’s broad conclusions about the trade agreement also didn’t mesh with Chinese state media’s more measured descriptions. The White House did not immediately respond to a CNBC request for comment overnight. Political watchers were quick to highlight the contrast between Trump’s lofty proclamations and the official statement from the W


“The results of the discussions in Buenos Aires are positive, but contrary to President Trump’s enthusiastic comments, did not result in a breakthrough.” The president’s broad conclusions about the trade agreement also didn’t mesh with Chinese state media’s more measured descriptions. The White House did not immediately respond to a CNBC request for comment overnight. Political watchers were quick to highlight the contrast between Trump’s lofty proclamations and the official statement from the W
Trump’s description of the China trade deal doesn’t match the official White House version Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-12-03  Authors: nyshka chandran, thomas peter, -david adelman, former us ambassador to singapore
Keywords: news, cnbc, companies, house, trade, white, oba, doesnt, comments, statement, version, state, match, cyber, official, deal, trumps, description


Trump's description of the China trade deal doesn't match the official White House version

“The results of the discussions in Buenos Aires are positive, but contrary to President Trump’s enthusiastic comments, did not result in a breakthrough.”

In a statement, the White House press secretary said Beijing will agree to purchase “a not yet agreed upon, but very substantial” amount of U.S. agricultural, energy, industrial and other products in order “to reduce the trade imbalance between our two countries.”

During the talks at the G-20 meeting, the two superpowers agreed to delay additional taxes on each other’s goods for the next 90 days — during which time they will try to overcome difficult differences including “forced technology transfer, intellectual property protection, non-tariff barriers, cyber intrusions and cyber theft.”

The president’s broad conclusions about the trade agreement also didn’t mesh with Chinese state media’s more measured descriptions.

The White House did not immediately respond to a CNBC request for comment overnight.

Political watchers were quick to highlight the contrast between Trump’s lofty proclamations and the official statement from the White House.

Trump’s comments “show his number one priority is the appearance of being a great dealmaker,” said Mintaro Oba, a former U.S. State Department official who specialized in the Koreas during the Obama administration. “It doesn’t matter to him what the details are, as long as he looks strong to his supporters.”

“When it comes to anything associated with him, especially deals, things can’t just be good, they have to be best,” Oba continued.


Company: cnbc, Activity: cnbc, Date: 2018-12-03  Authors: nyshka chandran, thomas peter, -david adelman, former us ambassador to singapore
Keywords: news, cnbc, companies, house, trade, white, oba, doesnt, comments, statement, version, state, match, cyber, official, deal, trumps, description


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Chinese government orders fishing boats to behave during G-20 summit

Beijing has issued a notice to Chinese fishing boats operating overseas, warning them to avoid illegal activities during the G-20 summit in Argentina this weekend. The country’s Agricultural Ministry released a statement this week asking Chinese offshore fishing enterprises to stay at least three nautical miles away from other countries’ marine exclusive economic zones. This distance will ensure that violations such as cross-border fishing don’t occur, it said. Offshore fishing companies should


Beijing has issued a notice to Chinese fishing boats operating overseas, warning them to avoid illegal activities during the G-20 summit in Argentina this weekend. The country’s Agricultural Ministry released a statement this week asking Chinese offshore fishing enterprises to stay at least three nautical miles away from other countries’ marine exclusive economic zones. This distance will ensure that violations such as cross-border fishing don’t occur, it said. Offshore fishing companies should
Chinese government orders fishing boats to behave during G-20 summit Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-30  Authors: nyshka chandran, vcg vcg via getty images
Keywords: news, cnbc, companies, fishing, ministry, violations, offshore, orders, chinese, g20, summit, statement, international, image, marine, boats, notice, behave


Chinese government orders fishing boats to behave during G-20 summit

Beijing has issued a notice to Chinese fishing boats operating overseas, warning them to avoid illegal activities during the G-20 summit in Argentina this weekend.

The country’s Agricultural Ministry released a statement this week asking Chinese offshore fishing enterprises to stay at least three nautical miles away from other countries’ marine exclusive economic zones. This distance will ensure that violations such as cross-border fishing don’t occur, it said.

These measures are designed to protect China’s image as a responsible great power and prevent any violations of foreign laws during the G-20, the ministry said.

Vessels entering the exclusive zone of another country must notify that nation and follow the principles of harmless navigation, according to the statement. Offshore fishing companies should also monitor the movement of their boats 24 hours a day and verify that each one operates in strict accordance with the law, the notice continued.

China’s maritime image has been called into question in recent years. The world’s second largest economy has engaged in aggressive behavior in international waterways such as the South China Sea while several Chinese ships have been implicated in illegal fishing abroad.

Last year, a Chinese ship in the Galapagos National Park — a marine sanctuary where industrial fishing is banned — was found with more than 6,000 sharks in what was deemed a huge blow to international marine conservation.

The country is also frequently accused of over-fishing within its territorial waters. Since 1994, China has exceeded its annual catch allowance every year, according to Greenpeace East Asia.


Company: cnbc, Activity: cnbc, Date: 2018-11-30  Authors: nyshka chandran, vcg vcg via getty images
Keywords: news, cnbc, companies, fishing, ministry, violations, offshore, orders, chinese, g20, summit, statement, international, image, marine, boats, notice, behave


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Cisco looks to Southeast Asia for its global digitization program

Cisco: Besides tech, we also need training and education 1 Hour Ago | 03:00Information technology giant Cisco is on a mission to increase global digitization and it has its eyes set on Southeast Asia. Cisco hopes to increase a country’s competitiveness, economic growth, job creation and innovation through investments in the startup space, education, infrastructure and healthcare. Southeast Asia is “primed” for the program, Guy Diedrich, vice president and global innovation officer at Cisco, told


Cisco: Besides tech, we also need training and education 1 Hour Ago | 03:00Information technology giant Cisco is on a mission to increase global digitization and it has its eyes set on Southeast Asia. Cisco hopes to increase a country’s competitiveness, economic growth, job creation and innovation through investments in the startup space, education, infrastructure and healthcare. Southeast Asia is “primed” for the program, Guy Diedrich, vice president and global innovation officer at Cisco, told
Cisco looks to Southeast Asia for its global digitization program Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-29  Authors: nyshka chandran, josep lago, afp, getty images
Keywords: news, cnbc, companies, global, digital, tech, digitization, diedrich, innovation, looks, asia, southeast, program, education, increase, cisco, growth


Cisco looks to Southeast Asia for its global digitization program

Cisco: Besides tech, we also need training and education 1 Hour Ago | 03:00

Information technology giant Cisco is on a mission to increase global digitization and it has its eyes set on Southeast Asia.

The American multinational company operates a worldwide initiative called the Country Digital Acceleration strategy that helps nations make efficient use of big data, the Internet of Things and smart connectivity. Cisco hopes to increase a country’s competitiveness, economic growth, job creation and innovation through investments in the startup space, education, infrastructure and healthcare.

Southeast Asia is “primed” for the program, Guy Diedrich, vice president and global innovation officer at Cisco, told CNBC’s Akiko Fujita on Thursday. Not only is the region “very entrepreneurial,” it also boasts “a highly educated population” and “off the charts” gross domestic product growth, he said.

Speaking at the East West Tech conference in China’s Nansha district, Diedrich said the program essentially creates a digital architecture for a government and then builds an execution plan for stakeholders to follow. The goal, he explained, is to help countries transition into knowledge-based economies.


Company: cnbc, Activity: cnbc, Date: 2018-11-29  Authors: nyshka chandran, josep lago, afp, getty images
Keywords: news, cnbc, companies, global, digital, tech, digitization, diedrich, innovation, looks, asia, southeast, program, education, increase, cisco, growth


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Look for auto prices to go higher as US-China trade friction drags on, says Morgan Stanley

Morgan Stanley has warned of higher car prices following signs of further escalation in the U.S.-China trade war. Such tensions are likely to hurt both auto consumers and manufacturers, Adam Jones, Morgan Stanley’s chief U.S. auto analyst, told CNBC’s Sri Jegarajah on Thursday. “The auto industry is the quintessential global supply chain,” Jones said at the Morgan Stanley Asia Pacific Summit in Singapore. “Any disruption of trade — be it between China and the U.S., or Europe and the U.S. or Japa


Morgan Stanley has warned of higher car prices following signs of further escalation in the U.S.-China trade war. Such tensions are likely to hurt both auto consumers and manufacturers, Adam Jones, Morgan Stanley’s chief U.S. auto analyst, told CNBC’s Sri Jegarajah on Thursday. “The auto industry is the quintessential global supply chain,” Jones said at the Morgan Stanley Asia Pacific Summit in Singapore. “Any disruption of trade — be it between China and the U.S., or Europe and the U.S. or Japa
Look for auto prices to go higher as US-China trade friction drags on, says Morgan Stanley Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-29  Authors: nyshka chandran, meghan reeder
Keywords: news, cnbc, companies, morgan, look, jones, stanley, drags, ways, going, hurt, warus, cars, friction, prices, uschina, trade, higher, auto


Look for auto prices to go higher as US-China trade friction drags on, says Morgan Stanley

Morgan Stanley has warned of higher car prices following signs of further escalation in the U.S.-China trade war.

U.S. Trade Representative Robert Lighthizer announced Wednesday that he was examining ways to raise duties on Chinese vehicles to 40 percent, which is the tax that Beijing now levies on American-made cars. Such tensions are likely to hurt both auto consumers and manufacturers, Adam Jones, Morgan Stanley’s chief U.S. auto analyst, told CNBC’s Sri Jegarajah on Thursday.

“The auto industry is the quintessential global supply chain,” Jones said at the Morgan Stanley Asia Pacific Summit in Singapore. “Any disruption of trade — be it between China and the U.S., or Europe and the U.S. or Japan, you name it — is going to lead to inflation.”

But as the costs of doing business increases, “that’s going to either make cars more expensive, which will hurt demand, or hurt margins. Probably a little of both,” he continued.


Company: cnbc, Activity: cnbc, Date: 2018-11-29  Authors: nyshka chandran, meghan reeder
Keywords: news, cnbc, companies, morgan, look, jones, stanley, drags, ways, going, hurt, warus, cars, friction, prices, uschina, trade, higher, auto


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