‘We are ready’ to take Trump tariff threats to WTO: French finance minister

France is ready to go to the World Trade Organization to challenge U.S. President Donald Trump’s threat to put tariffs on champagne and other French goods in a row over a French tax on internet companies, its finance minister said on Sunday. “We are ready to take this to an international court, notably the WTO, because the national tax on digital companies touches U.S. companies in the same way as EU or French companies or Chinese. It is not discriminatory,” Finance Minister Bruno Le Maire told


France is ready to go to the World Trade Organization to challenge U.S. President Donald Trump’s threat to put tariffs on champagne and other French goods in a row over a French tax on internet companies, its finance minister said on Sunday.
“We are ready to take this to an international court, notably the WTO, because the national tax on digital companies touches U.S. companies in the same way as EU or French companies or Chinese.
It is not discriminatory,” Finance Minister Bruno Le Maire told
‘We are ready’ to take Trump tariff threats to WTO: French finance minister Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-12-08
Keywords: news, cnbc, companies, wto, maire, trump, threats, france, tax, french, finance, tariff, companies, million, ready, oecd, digital, minister


'We are ready' to take Trump tariff threats to WTO: French finance minister

France is ready to go to the World Trade Organization to challenge U.S. President Donald Trump’s threat to put tariffs on champagne and other French goods in a row over a French tax on internet companies, its finance minister said on Sunday.

“We are ready to take this to an international court, notably the WTO, because the national tax on digital companies touches U.S. companies in the same way as EU or French companies or Chinese. It is not discriminatory,” Finance Minister Bruno Le Maire told France 3 television.

Paris has long complained about U.S. digital companies not paying enough tax on revenues earned in France.

In July, the French government decided to apply a 3% levy on revenue from digital services earned in France by firms with more than 25 million euros in French revenue and 750 million euros ($845 million) worldwide.

It is due to kick in retroactively from the start of 2019.

Washington is threatening to retaliate with heavy duties on imports of French champagne, cheeses and luxury handbags, but France and the European Union say they are ready to retaliate in turn if Trump carries out the threat.

Le Maire said France was willing to discuss a global digital tax with the United States at the Organisation for Economic Cooperation and Development (OECD), but that such a tax could not be optional for internet companies.

“If there is agreement at the OECD, all the better, then we will finally have a global digital tax. If there is no agreement at OECD level, we will restart talks at EU level,” Le Maire said.

He added that new EU Commissioner for Economy Paolo Gentiloni had already proposed to restart such talks.

France pushed ahead with its digital tax after EU member states, under the previous executive European Commission, failed to agree on a levy valid across the bloc after opposition from Ireland, Denmark, Sweden and Finland.

The new European Commission assumed office on Dec. 1.


Company: cnbc, Activity: cnbc, Date: 2019-12-08
Keywords: news, cnbc, companies, wto, maire, trump, threats, france, tax, french, finance, tariff, companies, million, ready, oecd, digital, minister


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China exports fall for fourth consecutive month as Beijing demands tariff rollback as part of trade deal

Chinese Vice Premier and lead trade negotiator Liu He, right, reaches to shake hands with U.S. Trade Representative Robert Lighthizer before the opening session of trade negotiations at the Diaoyutai State Guesthouse in Beijing, Thursday, Feb. 14, 2019. China’s exports in November shrank for the fourth consecutive month, underscoring persistent pressures on manufacturers from the Sino-U.S. trade war but growth in imports may be a sign that Beijing’s stimulus steps are helping to stoke demand. Ov


Chinese Vice Premier and lead trade negotiator Liu He, right, reaches to shake hands with U.S. Trade Representative Robert Lighthizer before the opening session of trade negotiations at the Diaoyutai State Guesthouse in Beijing, Thursday, Feb. 14, 2019.
China’s exports in November shrank for the fourth consecutive month, underscoring persistent pressures on manufacturers from the Sino-U.S. trade war but growth in imports may be a sign that Beijing’s stimulus steps are helping to stoke demand.
Ov
China exports fall for fourth consecutive month as Beijing demands tariff rollback as part of trade deal Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-12-08
Keywords: news, cnbc, companies, month, billion, stimulus, demands, deal, earlier, exports, fall, consecutive, showed, compared, trade, growth, rollback, tariff, poll, surplus, fourth


China exports fall for fourth consecutive month as Beijing demands tariff rollback as part of trade deal

Chinese Vice Premier and lead trade negotiator Liu He, right, reaches to shake hands with U.S. Trade Representative Robert Lighthizer before the opening session of trade negotiations at the Diaoyutai State Guesthouse in Beijing, Thursday, Feb. 14, 2019.

China’s exports in November shrank for the fourth consecutive month, underscoring persistent pressures on manufacturers from the Sino-U.S. trade war but growth in imports may be a sign that Beijing’s stimulus steps are helping to stoke demand.

The 17-month long trade dispute has heightened the risks of a global recession and fueled speculation that China’s policymakers could unleash more stimulus as growth in the world’s second-largest economy cooled to nearly 30-year lows.

Overseas shipments fell 1.1% from a year earlier last month, customs data showed on Sunday, compared with a 1.0% expansion tipped by a Reuters poll of analysts and a 0.9% drop in October.

Imports unexpectedly rose 0.3% from a year earlier, marking the first year-on-year growth since April and compared with a 1.8% decline forecast by economists.

The better-than-expected import data may point to firming domestic demand after factory activity showed surprising signs of improvement recently, although analysts have noted the recovery could be difficult to sustain amid trade risks.

China’s trade surplus for November stood at $38.73 billion, compared with an expected $46.30 billion surplus in the poll and a $42.81 billion surplus recorded in October.


Company: cnbc, Activity: cnbc, Date: 2019-12-08
Keywords: news, cnbc, companies, month, billion, stimulus, demands, deal, earlier, exports, fall, consecutive, showed, compared, trade, growth, rollback, tariff, poll, surplus, fourth


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Trump to meet the queen and NATO allies after tariff threat to France

LONDON — President Donald Trump touched down in the U.K. on Monday night ahead of a highly-anticipated NATO meeting, marking 70 years since the alliance’s creation. The gathering comes amid overt tensions between some leaders regarding spending pledges, how to tackle the challenges posed by Russia and China, and the relevance of NATO itself. The two-day meeting is taking place just outside of London, in Watford, with high-profile delegates then heading to Buckingham Palace in the evening where Q


LONDON — President Donald Trump touched down in the U.K. on Monday night ahead of a highly-anticipated NATO meeting, marking 70 years since the alliance’s creation.
The gathering comes amid overt tensions between some leaders regarding spending pledges, how to tackle the challenges posed by Russia and China, and the relevance of NATO itself.
The two-day meeting is taking place just outside of London, in Watford, with high-profile delegates then heading to Buckingham Palace in the evening where Q
Trump to meet the queen and NATO allies after tariff threat to France Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-12-03  Authors: holly ellyatt
Keywords: news, cnbc, companies, allies, france, meeting, queen, president, place, french, threat, macron, tariff, night, meet, nato, trump


Trump to meet the queen and NATO allies after tariff threat to France

LONDON — President Donald Trump touched down in the U.K. on Monday night ahead of a highly-anticipated NATO meeting, marking 70 years since the alliance’s creation. The gathering comes amid overt tensions between some leaders regarding spending pledges, how to tackle the challenges posed by Russia and China, and the relevance of NATO itself. The two-day meeting is taking place just outside of London, in Watford, with high-profile delegates then heading to Buckingham Palace in the evening where Queen Elizabeth II will host NATO heads of state and government for dinner. Trump is scheduled to have talks with French President Emmanuel Macron on Tuesday and NATO Secretary General Jens Stoltenberg; he is due to meet German Chancellor Angela Merkel on Wednesday. It’s unclear if the U.S. president will meet with Prime Minister Boris Johnson with the U.K. leader apparently keen for Trump not to involve himself in Britain’s domestic politics ahead of an upcoming election on December 12.

Trump’s meeting with his French counterpart Macron — due to take place at the U.S. ambassador to the U.K.’s residence where Trump and first lady Melania Trump stayed Monday night — could be an awkward affair given the U.S. administration’s threats to impose import tariffs of up to 100% on $2.4 billion worth of French imports. The U.S. trade representative has identified several goods, including Champagne, handbags and Gruyere cheese that could be targeted.The U.S. said Monday that the move is a response to a French digital services tax that it believes “unfairly targeted” American tech companies.


Company: cnbc, Activity: cnbc, Date: 2019-12-03  Authors: holly ellyatt
Keywords: news, cnbc, companies, allies, france, meeting, queen, president, place, french, threat, macron, tariff, night, meet, nato, trump


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Markets more fearful about trade war, but still see chance for phase one deal and tariff rollback

Doubts about a trade agreement have been rising, particularly since the U.S. Senate unanimously voted Tuesday to support the Hong Kong protesters. I’m much more worried about Hong Kong and the persecution of the Muslims. “It’s always been a risk that the phase one deal was not a done deal. Goldman Sachs economists, in a note early Wednesday, said uncertainty around the deal increased due to the Congressional vote on Hong Kong. The later phase deal would deal with much thornier issues of intellec


Doubts about a trade agreement have been rising, particularly since the U.S. Senate unanimously voted Tuesday to support the Hong Kong protesters.
I’m much more worried about Hong Kong and the persecution of the Muslims.
“It’s always been a risk that the phase one deal was not a done deal.
Goldman Sachs economists, in a note early Wednesday, said uncertainty around the deal increased due to the Congressional vote on Hong Kong.
The later phase deal would deal with much thornier issues of intellec
Markets more fearful about trade war, but still see chance for phase one deal and tariff rollback Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-11-20  Authors: patti domm
Keywords: news, cnbc, companies, fearful, phase, chance, rollback, trade, war, kong, markets, tariffs, hong, impeachment, market, deal, china, trump, tariff


Markets more fearful about trade war, but still see chance for phase one deal and tariff rollback

Strategists say there’s still a chance for a phase one trade deal between the U.S. and China, even as the stock market sold off on skepticism the two nations could come together.

The bond market had already been reflecting sinking prospects for a deal as yields fell in recent sessions. The Dow Jones Industrial Average fell as much as 258 points on Wednesday after a Reuters story quoted trade sources saying a deal may not be completed this year.

“The tariffs on Dec. 15 only get stopped as part of a phase one deal, or if they’re close to a deal,” said Tom Block, Washington strategist at Fundstrat. “I don’t think it’s any better than 50-50 [odds] … This changes every day, but clearly there is a bigger risk today than there was two weeks ago.”

Doubts about a trade agreement have been rising, particularly since the U.S. Senate unanimously voted Tuesday to support the Hong Kong protesters. China, in response, said the U.S. was interfering. So far, President Donald Trump has not weighed in on the Senate bill.

The backdrop of the House impeachment hearings into Trump’s dealings with Ukraine has also generated cautiousness, but so far it is not impacting markets, strategists said. Some strategists said the concern is that the impeachment could consume Trump, distracting him from China and other topics, and making China feel it has a stronger hand.

“I don’t think the impeachment has anything to do with trade. I’m much more worried about Hong Kong and the persecution of the Muslims. If they have a Tienanmen Square-type situation where kids get killed and you see bloody students, that’s going to be far harder for them to come to an agreement on trade,” said Block. “The Chinese are very smart and very sophisticated. They’re not going to be thrown off track by the impeachment brouhaha.”

The two obstacles to a deal could be U.S. objections to China’s handling of Hong Kong protests, and on the other hand, China may have overestimated how much leverage it has in current negotiations.

As the equities market declined Wednesday, stocks most sensitive to trade developments moved lower in afternoon trading. Caterpillar was off by 1.9, and the VanEck Sectors Semiconductor ETF was down about 1.6%.

“It’s always been a risk that the phase one deal was not a done deal. The president said as much last week. It’s a noisy process,” said Jon Hill, rate strategist at BMO. “If you look at the S&P 500, it’s still 1% from an all-time record. That’s not exactly screaming concerns. It’s a super noisy process and we’ll probably get some conflicting development in about 30 minutes.”

Goldman Sachs economists, in a note early Wednesday, said uncertainty around the deal increased due to the Congressional vote on Hong Kong. That has increased the odds of two outcomes — that the White House agrees to roll back tariffs and a deal is struck, or that there is no deal and it imposes the tariffs slated for Dec. 15.

“To reach such a deal, some tariff reduction is likely to be necessary, as statements from Chinese officials suggest that they expect a tariff reduction to be part of a ‘phase one’ agreement,” noted the Goldman Sachs economists.

Trump on Wednesday stepped before cameras before he boarded his helicopter and said talks continue with China. He also defended himself against comments made during impeachment hearings. On Tuesday, he said during a cabinet meeting that he would raise tariffs on China if there is no deal.

“If it takes this much to get to phase one, phase two is kicked to next year, and the 2020 election becomes center stage and the Chinese know that they hold the cards when it comes to that,” said Peter Boockvar, chief investment officer at Bleakley Advisory Group.

Market players have become frustrated with the timing of the phase one deal. It was expected to have been signed at the Asia-Pacific Economic Cooperation meeting in Chile, which was to have been held earlier this week before it was canceled by Chile’s government. The later phase deal would deal with much thornier issues of intellectual property and technology transfers.

Strategists see both sides as interested in keeping the talks going and reaching a conclusion. China would like to prevent new tariffs and roll back tariffs that have been hurting its exports. Trump would like to have an agreement to prevent damage to U.S. businesses and also to show some progress politically, ahead of next year’s election.

“I would give it a high percentage because Trump does want it, but I don’t think he’s willing to do it at any price. He sees everything through the lens of what he can say at his rallies,” said Block. “If they take away his applause line, then they’re overreaching.”

Block said it’s too early to consider how phase two could come about. “Right now, I can’t see phase two happening until after the election,” he said.

BMO’s Hill said bond yields were responding directly to the trade headlines. “It’s hard for anyone to have too much conviction here based on the headlines,” he said. He added that the optimism has been gradually draining from the market, since the 10-year yield peaked at about 1.956 on Nov. 12.

That was the day Trump spoke to the Economic Club of New York. The yield peaked at about 1.956% that day, and has since to as low as 1.72% early Wednesday. It was at 1.75% Wednesday afternoon, and after the Reuters headline, it fell to 1.73%.


Company: cnbc, Activity: cnbc, Date: 2019-11-20  Authors: patti domm
Keywords: news, cnbc, companies, fearful, phase, chance, rollback, trade, war, kong, markets, tariffs, hong, impeachment, market, deal, china, trump, tariff


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Asia stocks set to dip amid US-China trade uncertainty

Stocks in Asia were set to dip at the open on Tuesday amid concerns over the state of U.S.-China trade negotiations. Meanwhile, shares in Australia edged higher in early trade, with the S&P/ASX 200 up fractionally. Investor reaction to overnight developments around U.S.-China trade talks will be watched. CNBC’s Eunice Yoon reported Monday, citing a government source, that Beijing is pessimistic about the trade deal. That came following a report over the weekend by Chinese state media that “const


Stocks in Asia were set to dip at the open on Tuesday amid concerns over the state of U.S.-China trade negotiations.
Meanwhile, shares in Australia edged higher in early trade, with the S&P/ASX 200 up fractionally.
Investor reaction to overnight developments around U.S.-China trade talks will be watched.
CNBC’s Eunice Yoon reported Monday, citing a government source, that Beijing is pessimistic about the trade deal.
That came following a report over the weekend by Chinese state media that “const
Asia stocks set to dip amid US-China trade uncertainty Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-11-19  Authors: eustance huang
Keywords: news, cnbc, companies, deal, state, uschina, trade, yoon, tariff, australia, dip, asia, talks, beijing, working, uncertainty, stocks, amid, set


Asia stocks set to dip amid US-China trade uncertainty

Stocks in Asia were set to dip at the open on Tuesday amid concerns over the state of U.S.-China trade negotiations.

Futures pointed to a lower open for Japanese shares. The Nikkei futures contract in Chicago was at 23,395 while its counterpart in Osaka was at 23,380. The Nikkei 225 last closed at 23,416.76.

Meanwhile, shares in Australia edged higher in early trade, with the S&P/ASX 200 up fractionally. Meeting minutes from the Reserve Bank of Australia are expected to be released around 8:30 a.m. HK/SIN.

Investor reaction to overnight developments around U.S.-China trade talks will be watched. CNBC’s Eunice Yoon reported Monday, citing a government source, that Beijing is pessimistic about the trade deal. China is concerned after U.S. President Donald Trump said there would be no tariff rollback, Beijing had thought both parties had agreed in principle, Yoon reported.

That came following a report over the weekend by Chinese state media that “constructive” trade talks had occurred at a high level between Beijing and Washington. The two economic powerhouses have been working toward reaching a “phase one” deal, expected to be signed soon, following a tariff war that has lasted for more than a year and dented investor sentiment.

“Our preference remains on putting more weight on comments coming directly from officials dealing with the trade negotiations and on this score there is nothing to contradict the view that the US and China are still working towards striking a deal,” Rodrigo Catril, senior foreign exchange strategist at National Australia Bank, wrote in a note.


Company: cnbc, Activity: cnbc, Date: 2019-11-19  Authors: eustance huang
Keywords: news, cnbc, companies, deal, state, uschina, trade, yoon, tariff, australia, dip, asia, talks, beijing, working, uncertainty, stocks, amid, set


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JP Morgan has a bargain stock pick to play the holiday shopping season and a completed trade deal

Discount retailer Five Below is well positioned going into the holiday season, and the shares are a cheap now after investors sold the stock on trade war fears, according to J.P. Morgan. The firm added Five Below to its U.S. Equity Analyst Focus List. The stock also sits on J.P. Morgan’s Top 5 holiday and 2020 ideas lists. “FIVE has 25% sourcing exposure to China, with guidance incorporating the anticipated impact of tariff rate increase,” J.P. Morgan retail analyst Matthew Boss said Monday in a


Discount retailer Five Below is well positioned going into the holiday season, and the shares are a cheap now after investors sold the stock on trade war fears, according to J.P. Morgan.
The firm added Five Below to its U.S. Equity Analyst Focus List.
The stock also sits on J.P. Morgan’s Top 5 holiday and 2020 ideas lists.
“FIVE has 25% sourcing exposure to China, with guidance incorporating the anticipated impact of tariff rate increase,” J.P. Morgan retail analyst Matthew Boss said Monday in a
JP Morgan has a bargain stock pick to play the holiday shopping season and a completed trade deal Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-11-18  Authors: maggie fitzgerald
Keywords: news, cnbc, companies, stock, trade, war, season, sits, morgan, pick, analyst, sold, sourcing, deal, holiday, shopping, tariff, play


JP Morgan has a bargain stock pick to play the holiday shopping season and a completed trade deal

Discount retailer Five Below is well positioned going into the holiday season, and the shares are a cheap now after investors sold the stock on trade war fears, according to J.P. Morgan.

The firm added Five Below to its U.S. Equity Analyst Focus List. The stock also sits on J.P. Morgan’s Top 5 holiday and 2020 ideas lists.

“FIVE has 25% sourcing exposure to China, with guidance incorporating the anticipated impact of tariff rate increase,” J.P. Morgan retail analyst Matthew Boss said Monday in a note to clients.


Company: cnbc, Activity: cnbc, Date: 2019-11-18  Authors: maggie fitzgerald
Keywords: news, cnbc, companies, stock, trade, war, season, sits, morgan, pick, analyst, sold, sourcing, deal, holiday, shopping, tariff, play


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JP Morgan has a bargain stock pick to play the holiday shopping season and a completed trade deal

Discount retailer Five Below is well positioned going into the holiday season, and the shares are a cheap now after investors sold the stock on trade war fears, according to J.P. Morgan. The firm added Five Below to its U.S. Equity Analyst Focus List. The stock also sits on J.P. Morgan’s Top 5 holiday and 2020 ideas lists. “FIVE has 25% sourcing exposure to China, with guidance incorporating the anticipated impact of tariff rate increase,” J.P. Morgan retail analyst Matthew Boss said Monday in a


Discount retailer Five Below is well positioned going into the holiday season, and the shares are a cheap now after investors sold the stock on trade war fears, according to J.P. Morgan.
The firm added Five Below to its U.S. Equity Analyst Focus List.
The stock also sits on J.P. Morgan’s Top 5 holiday and 2020 ideas lists.
“FIVE has 25% sourcing exposure to China, with guidance incorporating the anticipated impact of tariff rate increase,” J.P. Morgan retail analyst Matthew Boss said Monday in a
JP Morgan has a bargain stock pick to play the holiday shopping season and a completed trade deal Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-11-18  Authors: maggie fitzgerald
Keywords: news, cnbc, companies, stock, trade, war, season, sits, morgan, pick, analyst, sold, sourcing, deal, holiday, shopping, tariff, play


JP Morgan has a bargain stock pick to play the holiday shopping season and a completed trade deal

Discount retailer Five Below is well positioned going into the holiday season, and the shares are a cheap now after investors sold the stock on trade war fears, according to J.P. Morgan.

The firm added Five Below to its U.S. Equity Analyst Focus List. The stock also sits on J.P. Morgan’s Top 5 holiday and 2020 ideas lists.

“FIVE has 25% sourcing exposure to China, with guidance incorporating the anticipated impact of tariff rate increase,” J.P. Morgan retail analyst Matthew Boss said Monday in a note to clients.


Company: cnbc, Activity: cnbc, Date: 2019-11-18  Authors: maggie fitzgerald
Keywords: news, cnbc, companies, stock, trade, war, season, sits, morgan, pick, analyst, sold, sourcing, deal, holiday, shopping, tariff, play


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Gary Cohn: Trump knows he’ll lose ‘credibility’ with China if he blinks on tariff deadline

“I think he thinks that that’s a forcing function and if he keeps blinking, he loses credibility in the Chinese eyes,” Cohn said on “Fast Money.” Treasury Secretary Steven Mnuchin has also said he expects the mid-December round of tariffs on Chinese goods if there’s no deal. In October, after the U.S. and China agreed to a partial trade agreement, Trump decided not to go through with a tariff increase that had been set for the following week. Trump often suggests that China, not U.S. consumers a


“I think he thinks that that’s a forcing function and if he keeps blinking, he loses credibility in the Chinese eyes,” Cohn said on “Fast Money.”
Treasury Secretary Steven Mnuchin has also said he expects the mid-December round of tariffs on Chinese goods if there’s no deal.
In October, after the U.S. and China agreed to a partial trade agreement, Trump decided not to go through with a tariff increase that had been set for the following week.
Trump often suggests that China, not U.S. consumers a
Gary Cohn: Trump knows he’ll lose ‘credibility’ with China if he blinks on tariff deadline Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-11-18  Authors: kevin stankiewicz
Keywords: news, cnbc, companies, hell, dec, trump, lose, gary, cohn, trade, agreed, tariffs, deal, deadline, believes, knows, chinese, china, tariff, credibility


Gary Cohn: Trump knows he'll lose 'credibility' with China if he blinks on tariff deadline

Former White House chief economic advisor Gary Cohn said Monday that he believes President Donald Trump will go forward with the Dec. 15 tariffs if the U.S. and China haven’t agreed to a trade deal.

“I think he thinks that that’s a forcing function and if he keeps blinking, he loses credibility in the Chinese eyes,” Cohn said on “Fast Money.”

Treasury Secretary Steven Mnuchin has also said he expects the mid-December round of tariffs on Chinese goods if there’s no deal.

Cohn, who announced in March 2018 that he was leaving his White House post, is a free-trade advocate whose disagreements with Trump’s embrace of tariffs are widely documented.

In October, after the U.S. and China agreed to a partial trade agreement, Trump decided not to go through with a tariff increase that had been set for the following week.

But that “phase one” deal has yet to be signed, adding to the unpredictability of the long-running trade dispute, during which the world’s two largest economies have imposed billions of dollars in tariffs on each other’s goods.

The October deal was said to address concerns over intellectual property and financial services, in addition to Chinese purchases of about $40 billion to $50 billion U.S. agricultural products. But the exact terms have yet to be agreed upon, with the U.S. pushing for stronger concessions on intellectual property, for example.

Officials from the two countries had “constructive discussion” over the weekend, according to the Chinese Ministry of Commerce.

In August, Trump announced that he was delaying some scheduled tariffs — on certain electronics such as cellphones, laptops and video games — over concerns that they might impact the holiday shopping season. Trump often suggests that China, not U.S. consumers and businesses, pay for the tariffs despite evidence to the contrary.

Part of the reason why Cohn said he believes Trump would go forward with the Dec. 15 batch of tariffs is because “he’s got them through the other side of the holiday season.”

“And Dec. 15 is a long time from now in terms of tariff negotiations,” added Cohn, the former president of Goldman Sachs.

Cohn has said he believes the trade war is hurting the U.S. economy, a belief which he reiterated Monday. He urged Trump to at least sign the phase one deal in order to give a boost to U.S. agriculture, which has been hurt by retaliatory Chinese tariffs.

“Our farmers deserve to be growing crops. Our farmers deserve to be exporting. It’s important for our U.S. economy,” Cohn said. “We should not be in this position right now … So at a minimum, we should go through with that” .


Company: cnbc, Activity: cnbc, Date: 2019-11-18  Authors: kevin stankiewicz
Keywords: news, cnbc, companies, hell, dec, trump, lose, gary, cohn, trade, agreed, tariffs, deal, deadline, believes, knows, chinese, china, tariff, credibility


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Trump to visit Apple’s manufacturing plant in Austin on Wednesday

The White House confirmed on Sunday that President Trump will tour Apple’s manufacturing plant in Austin, Texas, on Wednesday. Reports first surfaced in the past week that a Trump visit to Apple’s Austin factory, where the new Mac Pro will be assembled, was in the works. Apple shifted its Mac Pro assembly to a facility in Austin, Texas, in September after a round of tariff exemptions for computer parts the company won from trade regulators. Apple CEO Tim Cook has been lauded for his relationship


The White House confirmed on Sunday that President Trump will tour Apple’s manufacturing plant in Austin, Texas, on Wednesday.
Reports first surfaced in the past week that a Trump visit to Apple’s Austin factory, where the new Mac Pro will be assembled, was in the works.
Apple shifted its Mac Pro assembly to a facility in Austin, Texas, in September after a round of tariff exemptions for computer parts the company won from trade regulators.
Apple CEO Tim Cook has been lauded for his relationship
Trump to visit Apple’s manufacturing plant in Austin on Wednesday Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-11-17  Authors: eric rosenbaum, steve kovach
Keywords: news, cnbc, companies, plant, manufacturing, trump, apples, tariff, pro, texas, visit, austin, mac, trade, apple


Trump to visit Apple's manufacturing plant in Austin on Wednesday

The White House confirmed on Sunday that President Trump will tour Apple’s manufacturing plant in Austin, Texas, on Wednesday.

Reports first surfaced in the past week that a Trump visit to Apple’s Austin factory, where the new Mac Pro will be assembled, was in the works.

Apple shifted its Mac Pro assembly to a facility in Austin, Texas, in September after a round of tariff exemptions for computer parts the company won from trade regulators.

Apple CEO Tim Cook has been lauded for his relationship with Trump at a time when domestic manufacturing and the trade war with China could seriously harm Apple’s existing business model. The Apple CEO has met one-on-one with Trump, including private dinners, as Apple faced the threat of tariffs on its products this year.

Apple has trumpeted its overall investment in the U.S. since Trump took office in 2017, including a planned $350 billion “contribution” to the U.S. economy and a “job footprint” that has grown to 2.4 million in the U.S.

Apple directly employs about 130,000 people.

Apple also has avoided the intense antitrust scrutiny faced by some of its rivals like Amazon and Google.

The Mac Pro is not a major driver of Apple revenue or profit. Apple’s most profitable and popular products are made in China. But the tariff exemptions for most of the Mac Pro’s parts are seen as a win for both the company and Trump, who can boast about domestic manufacturing jobs.

Apple’s shares are up nearly 70% this year, almost tripling the return of the S&P 500 Index.

—CNBC’s Steve Kovach contributed to this report.

Subscribe to CNBC on YouTube.


Company: cnbc, Activity: cnbc, Date: 2019-11-17  Authors: eric rosenbaum, steve kovach
Keywords: news, cnbc, companies, plant, manufacturing, trump, apples, tariff, pro, texas, visit, austin, mac, trade, apple


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Asia markets set to trade subdued as Fed’s Powell indicates rates unlikely to change

Stocks in Asia were set to trade subdued on Thursday as Fed Chairman Jerome Powell indicated that interest rates were unlikely to change going forward. Futures pointed to a little changed open for Japanese stocks, with the Nikkei futures contract in Chicago at 23,315 and its counterpart in Osaka at 23,310. Meanwhile, shares in Australia nudged lower in early trade, with the S&P/ASX 200 about 0.1% lower. Investors will await the release of Australian employment data for October, expected to be ou


Stocks in Asia were set to trade subdued on Thursday as Fed Chairman Jerome Powell indicated that interest rates were unlikely to change going forward.
Futures pointed to a little changed open for Japanese stocks, with the Nikkei futures contract in Chicago at 23,315 and its counterpart in Osaka at 23,310.
Meanwhile, shares in Australia nudged lower in early trade, with the S&P/ASX 200 about 0.1% lower.
Investors will await the release of Australian employment data for October, expected to be ou
Asia markets set to trade subdued as Fed’s Powell indicates rates unlikely to change Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-11-14  Authors: eustance huang
Keywords: news, cnbc, companies, stocks, trade, expected, feds, war, tariff, subdued, powell, indicates, nikkei, lower, uschina, set, change, markets, rates, unlikely


Asia markets set to trade subdued as Fed's Powell indicates rates unlikely to change

Stocks in Asia were set to trade subdued on Thursday as Fed Chairman Jerome Powell indicated that interest rates were unlikely to change going forward.

Futures pointed to a little changed open for Japanese stocks, with the Nikkei futures contract in Chicago at 23,315 and its counterpart in Osaka at 23,310. The Nikkei 225 last closed at 23,319.87. Japan GDP for the third quarter is expected to be out around 7:50 a.m. HK/SIN.

Meanwhile, shares in Australia nudged lower in early trade, with the S&P/ASX 200 about 0.1% lower. Investors will await the release of Australian employment data for October, expected to be out around 8:30 a.m. HK/SIN.

Developments in U.S.-China trade will continue to be monitored, with a reported impasse being hit between the two economic powerhouses as they seek to finalize a limited trade agreement amid a tariff war that has lasted for more than a year.


Company: cnbc, Activity: cnbc, Date: 2019-11-14  Authors: eustance huang
Keywords: news, cnbc, companies, stocks, trade, expected, feds, war, tariff, subdued, powell, indicates, nikkei, lower, uschina, set, change, markets, rates, unlikely


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