Cramer to Trump: More US companies blame tariffs than the Fed for the slowing economy

Companies are blaming President Donald Trump’s use of tariffs, not Federal Reserve rates, as the reason behind the slowing U.S. economy, CNBC’s Jim Cramer said Friday. “Most of the companies I’ve talked to, Mr. President, are saying [the slowdown] is because of your tariffs,” Cramer said on “Squawk on the Street. ” “I’m not hearing people blame the Fed as much as they’re blaming tariffs.” Even though Wall Street is considering a Fed cut to be almost certain later this month, it’s Trump’s tariffs


Companies are blaming President Donald Trump’s use of tariffs, not Federal Reserve rates, as the reason behind the slowing U.S. economy, CNBC’s Jim Cramer said Friday. “Most of the companies I’ve talked to, Mr. President, are saying [the slowdown] is because of your tariffs,” Cramer said on “Squawk on the Street. ” “I’m not hearing people blame the Fed as much as they’re blaming tariffs.” Even though Wall Street is considering a Fed cut to be almost certain later this month, it’s Trump’s tariffs
Cramer to Trump: More US companies blame tariffs than the Fed for the slowing economy Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-19  Authors: jessica bursztynsky
Keywords: news, cnbc, companies, street, cut, president, trumps, companies, blame, central, trump, tariffs, fed, economy, slowing, cramer


Cramer to Trump: More US companies blame tariffs than the Fed for the slowing economy

Companies are blaming President Donald Trump’s use of tariffs, not Federal Reserve rates, as the reason behind the slowing U.S. economy, CNBC’s Jim Cramer said Friday.

“Most of the companies I’ve talked to, Mr. President, are saying [the slowdown] is because of your tariffs,” Cramer said on “Squawk on the Street. ” “I’m not hearing people blame the Fed as much as they’re blaming tariffs.”

Cramer’s reaction was to Trump’s tweets Friday morning, saying the central bank should end its “crazy” tightening moves.

Trump has been a vocal critic of the Fed and its chairman, Jerome Powell, whom he nominated, since central bankers raised interest rates four times last year. The president has repeatedly called for the Fed to cut rates.

That’s a move that Wall Street thought New York Fed President John Williams was indicating Thursday, after he said the central bank needed to “act quickly” in times of economic distress. However, a spokesperson later said Williams was drawing from research, not hinting at what may happen at this month’s meeting.

Even though Wall Street is considering a Fed cut to be almost certain later this month, it’s Trump’s tariffs that companies are remembering, Cramer said. “People have forgotten the December hike,” which happened when markets were melting down at the end of 2018.

The president is “going to have the rate cut,” predicted the “Mad Money” host. “Don’t rub it in Powell’s face anymore.”

Washington and Beijing have been engaged in a trade war for the past year, and each side has stepped up retaliatory measures on one another in the past few months. Trump slapped 25% tariffs on $200 billion worth of Chinese goods in May, and he continues to threaten duties on an additional $325 billion of goods.

Meanwhile, multinational companies are moving production out of China instead of waiting for a resolution, a costly measure with training and building infrastructure.

It’s been a costly move for the world’s second largest economy, with China reporting it grew just 6.2% in its second quarter. This coincides with a global economic slowdown, debt ceiling negotiations and a lack of inflationary pressures, all putting stress on the U.S. economy.


Company: cnbc, Activity: cnbc, Date: 2019-07-19  Authors: jessica bursztynsky
Keywords: news, cnbc, companies, street, cut, president, trumps, companies, blame, central, trump, tariffs, fed, economy, slowing, cramer


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More than 50 companies reportedly pull production out of China due to trade war

The trade war between the U.S. and China has dragged on for more than a year with 25% tariffs placed on $200 billion of Chinese goods. American personal computer makers HP and Dell could move up to 30% of their notebook production in China to Southeast Asia, Nikkei reported. Japan’s Nintendo is also going to pull a portion of its video game console production from China to Vietnam, according to Nikkei. Not only are foreign companies rethinking its production location, a handful of Chinese compan


The trade war between the U.S. and China has dragged on for more than a year with 25% tariffs placed on $200 billion of Chinese goods. American personal computer makers HP and Dell could move up to 30% of their notebook production in China to Southeast Asia, Nikkei reported. Japan’s Nintendo is also going to pull a portion of its video game console production from China to Vietnam, according to Nikkei. Not only are foreign companies rethinking its production location, a handful of Chinese compan
More than 50 companies reportedly pull production out of China due to trade war Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-18  Authors: yun li
Keywords: news, cnbc, companies, tariffs, chinese, pull, production, companies, china, 50, reportedly, war, according, trade, nikkei, moving


More than 50 companies reportedly pull production out of China due to trade war

The pace of companies moving production out of China is accelerating as more than 50 multinationals from Apple to Nintendo to Dell are rushing to escape the punitive tariffs placed by the U.S., according to the Nikkei Asian review.

The trade war between the U.S. and China has dragged on for more than a year with 25% tariffs placed on $200 billion of Chinese goods. President Donald Trump is still threatening to slap duties on another $325 billion of goods. In wake of the intensifying battle, more and more companies announced plans or are considering shifting manufacturing from China.

American personal computer makers HP and Dell could move up to 30% of their notebook production in China to Southeast Asia, Nikkei reported. Apple has asked its major suppliers to assess the cost implications of moving 15% to 30% of their production capacity from China to India, according to an earlier report from the Nikkei.

Japan’s Nintendo is also going to pull a portion of its video game console production from China to Vietnam, according to Nikkei.

Not only are foreign companies rethinking its production location, a handful of Chinese companies are also leaving China. Chinese multinational electronics company TCL is moving its TV production to Vietnam, while Chinese tire maker Sailun Tire is transitioning its manufacturing line to Thailand, Nikkei reported.

The prolonged trade battle seems to be taking a toll on the Chinese economy. Data on Monday showed its economic growth slowed to 6.2% in the second quarter — the weakest rate in at least 27 years.

Trump claimed the slower growth is evidence that China is losing the trade war as the country faces an exodus of companies.

“The United States Tariffs are having a major effect on companies wanting to leave China for non-tariffed countries. Thousands of companies are leaving. This is why China wants to make a deal,” Trump said in a twitter post on Monday.

—Click here to read the original story from the Nikkei Asian Review.


Company: cnbc, Activity: cnbc, Date: 2019-07-18  Authors: yun li
Keywords: news, cnbc, companies, tariffs, chinese, pull, production, companies, china, 50, reportedly, war, according, trade, nikkei, moving


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European stocks close lower as trade concerns weigh; Ericsson down 11%

European stocks lost value by the end of trade Wednesday as trade concerns continued to weigh on global markets while earnings season gathered pace. The pan-European Stoxx 600 provisionally traded 0.36% lower during the session, with oil and gas stocks slipping almost 2% but food and beverage stocks clawing a 0.5% rise. Trump’s comments came after both countries agreed not to ratchet up trade tensions in an effort to restart talks. Shares of Swiss watchmaker Swatch Group climbed after it issued


European stocks lost value by the end of trade Wednesday as trade concerns continued to weigh on global markets while earnings season gathered pace. The pan-European Stoxx 600 provisionally traded 0.36% lower during the session, with oil and gas stocks slipping almost 2% but food and beverage stocks clawing a 0.5% rise. Trump’s comments came after both countries agreed not to ratchet up trade tensions in an effort to restart talks. Shares of Swiss watchmaker Swatch Group climbed after it issued
European stocks close lower as trade concerns weigh; Ericsson down 11% Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-17  Authors: elliot smith ryan browne, elliot smith, ryan browne
Keywords: news, cnbc, companies, washington, tensions, earnings, tariffs, stocks, ericsson, 11, inflation, lower, group, close, trade, european, zone, shares, concerns, weigh


European stocks close lower as trade concerns weigh; Ericsson down 11%

European stocks lost value by the end of trade Wednesday as trade concerns continued to weigh on global markets while earnings season gathered pace.

The pan-European Stoxx 600 provisionally traded 0.36% lower during the session, with oil and gas stocks slipping almost 2% but food and beverage stocks clawing a 0.5% rise.

Market focus early Wednesday was largely attuned to the U.S.-China trade spat. President Donald Trump on Tuesday said that the U.S. and China still have a “long way to go” on trade, adding that Washington could slap tariffs on an additional $325 billion in Chinese goods “if we want.”

Trump’s comments came after both countries agreed not to ratchet up trade tensions in an effort to restart talks. Washington and Beijing have slapped tariffs on billions of dollars’ worth of each other’s imports since last year.

Attention shifted briefly as euro zone inflation data showed improvement, but still fell short of European Central Bank (ECB) targets, rendering it unlikely to dampen expectations of monetary policy easing from the central bank

Euro zone inflation year-on-year for June came in slightly higher than initially forecast on Wednesday at 1.3%, but both headline and underlying inflation rates remain below the improvement sought by the ECB, which targets a rate of just below 2%.

British inflation matched the Bank of England’s 2% target for the second consecutive month.

Meanwhile, earnings are also in focus for investors. In Europe, Swedish Orphan Biovitrum shares rallied 10% after the company forecast full-year profit and sales growth. Shares of Swiss watchmaker Swatch Group climbed after it issued guidance for strong growth ahead despite a fall in first-half profits.

Swedish manufacturer Dometic Group saw its shares tumble 6.7% following disappointing second-quarter earnings, while telecoms equipment maker Ericsson dropped 11.2% after warning that the costs of winning new network business may negatively impact its profit margins in the second half of the year.

Swedbank also slipped sharply after it cut its dividend amid uncertainties over its exposure to a Baltic money-laundering scandal.

Elsewhere, finance ministers from the Group of Seven (G-7) met in France, with U.S.-Sino trade tensions, France’s digital tax and Facebook’s Libra cryptocurrency expected to be on the agenda.


Company: cnbc, Activity: cnbc, Date: 2019-07-17  Authors: elliot smith ryan browne, elliot smith, ryan browne
Keywords: news, cnbc, companies, washington, tensions, earnings, tariffs, stocks, ericsson, 11, inflation, lower, group, close, trade, european, zone, shares, concerns, weigh


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China-US trade talks reportedly slow to a standstill over Huawei

Progress on resolving the trade war is stuck in limbo until the White House determines how to address China’s demand to back off restrictions on Huawei, the Journal said , citing people familiar with the talks. There has been little public progress since President Trump and President Xi Jinping agreed to a truce at the G-20 last month. The issue of intellectual property was a key sticking point at the June international summit, despite Washington and Beijing’s agreement to restart talks. On Tues


Progress on resolving the trade war is stuck in limbo until the White House determines how to address China’s demand to back off restrictions on Huawei, the Journal said , citing people familiar with the talks. There has been little public progress since President Trump and President Xi Jinping agreed to a truce at the G-20 last month. The issue of intellectual property was a key sticking point at the June international summit, despite Washington and Beijing’s agreement to restart talks. On Tues
China-US trade talks reportedly slow to a standstill over Huawei Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-17  Authors: kate rooney
Keywords: news, cnbc, companies, talks, trump, security, reportedly, standstill, white, slow, tariffs, chinaus, president, huawei, billion, issue, chinese, trade, restrictions


China-US trade talks reportedly slow to a standstill over Huawei

Progress on resolving the trade war is stuck in limbo until the White House determines how to address China’s demand to back off restrictions on Huawei, the Journal said , citing people familiar with the talks.

There has been little public progress since President Trump and President Xi Jinping agreed to a truce at the G-20 last month. The issue of intellectual property was a key sticking point at the June international summit, despite Washington and Beijing’s agreement to restart talks. The issue over which semiconductor chips, among other products, can be sold to Huawei without security issues remains a key point of contention, according to the Journal.

On Tuesday, President Trump said “we have a long way to go as far as tariffs” and threatened to slap tariffs on another $325 billion of Chinese goods. The tariff escalation started in 2018, and the president has already put 25% levies on $250 billion of imported Chinese goods. That led to retaliation against U.S. agriculture and other imports.

The Commerce Department added Huawei, which relies on American suppliers for components and software in several of its products including smartphones, to a blacklist in May. That essentially bans American companies from doing business with the Chinese tech giant, unless they get special permission from the department. The White House declared a national emergency over the issue, citing national security threats.

The restrictions have already taken a toll on the Shenzhen-based giant. Huawei CEO and founder Ren Zhengfei said the company expects a $30 billion hit in the coming years thanks to the restrictions. The company also recently announced that it was scrapping a new laptop.


Company: cnbc, Activity: cnbc, Date: 2019-07-17  Authors: kate rooney
Keywords: news, cnbc, companies, talks, trump, security, reportedly, standstill, white, slow, tariffs, chinaus, president, huawei, billion, issue, chinese, trade, restrictions


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Stocks slip from record highs after Trump says ‘long way to go’ on trade talks with China

Stocks fell from record highs on Tuesday after President Donald Trump cast doubt on the trade progress between China and the U.S. The Dow Jones Industrial Average slipped 23.53 points, or 0.1%, to 27,335.63, ending a four-day winning streak. The S&P 500 closed 0.3% lower at 3,004.04 and snapped a five-day winning streak. They also come as the U.S. corporate earnings season kicks into full gear. “Looking at this earnings season, the key question is: Will trade uncertainty cause businesses to pull


Stocks fell from record highs on Tuesday after President Donald Trump cast doubt on the trade progress between China and the U.S. The Dow Jones Industrial Average slipped 23.53 points, or 0.1%, to 27,335.63, ending a four-day winning streak. The S&P 500 closed 0.3% lower at 3,004.04 and snapped a five-day winning streak. They also come as the U.S. corporate earnings season kicks into full gear. “Looking at this earnings season, the key question is: Will trade uncertainty cause businesses to pull
Stocks slip from record highs after Trump says ‘long way to go’ on trade talks with China Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-16  Authors: fred imbert
Keywords: news, cnbc, companies, earnings, season, tariffs, stocks, worth, streak, slip, rose, record, trade, long, china, winning, fell, way, highs, talks, trump


Stocks slip from record highs after Trump says 'long way to go' on trade talks with China

Stocks fell from record highs on Tuesday after President Donald Trump cast doubt on the trade progress between China and the U.S.

The Dow Jones Industrial Average slipped 23.53 points, or 0.1%, to 27,335.63, ending a four-day winning streak. The S&P 500 closed 0.3% lower at 3,004.04 and snapped a five-day winning streak. The Nasdaq Composite fell 0.4% to 8,222.80. The averages had notched all-time closing highs in the previous session.

Trump said the two countries have a “long way to go” on trade, adding the U.S. can slap tariffs on an additional $325 billion worth of Chinese goods “if we want.”

Trump’s comments come after China and the U.S. agreed not to ratchet up trade tensions in an effort to restart negotiations. China and the U.S. have slapped tariffs on billions of dollars worth of each other’s imports since last year. The ongoing trade war has sparked fear of slower economic growth around the world. They also come as the U.S. corporate earnings season kicks into full gear.

“Looking at this earnings season, the key question is: Will trade uncertainty cause businesses to pullback on spending and investment enough so that it begins to weigh on earnings?” said Tom Essaye, founder of the Sevens Report, in a note. “If there is evidence that businesses beyond China-focused industrials also are starting to become more conservative, then that will be a big negative for future earnings.”

Goldman Sachs reported better-than-expected results, driven by the company’s investment banking and trading divisions. Goldman shares rose 1.9%.

J.P. Morgan Chase ‘s results also topped estimates and its stock rose 1.1%. Johnson & Johnson, however, fell 1.6% despite reporting a 42% profit surge in the previous quarter.


Company: cnbc, Activity: cnbc, Date: 2019-07-16  Authors: fred imbert
Keywords: news, cnbc, companies, earnings, season, tariffs, stocks, worth, streak, slip, rose, record, trade, long, china, winning, fell, way, highs, talks, trump


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The next big risk that could end the stock rally is here

Earnings season is seen as the next big risk for a stock market that has soared to record highs on expectations that the Federal Reserve will start cutting interest rates, as early as its next meeting, July 30-31. “Either way, earnings season, more than previously, is going to be a minefield because of these tariffs and a slowing growth story — and stocks that are at record highs. The earnings season kicks off in a big way in the coming week, starting with the major banks, and Citigroup is first


Earnings season is seen as the next big risk for a stock market that has soared to record highs on expectations that the Federal Reserve will start cutting interest rates, as early as its next meeting, July 30-31. “Either way, earnings season, more than previously, is going to be a minefield because of these tariffs and a slowing growth story — and stocks that are at record highs. The earnings season kicks off in a big way in the coming week, starting with the major banks, and Citigroup is first
The next big risk that could end the stock rally is here Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-12  Authors: patti domm
Keywords: news, cnbc, companies, big, going, highs, tariffs, slowing, stock, rally, risk, week, sp, companies, end, earnings, season, impact


The next big risk that could end the stock rally is here

Stocks could struggle if the earnings message from corporate America focuses on the murky outlook for the economy and negative impacts from the trade wars when companies start reporting second-quarter results in the week ahead.

Earnings season is seen as the next big risk for a stock market that has soared to record highs on expectations that the Federal Reserve will start cutting interest rates, as early as its next meeting, July 30-31.

“If the data doesn’t corroborate expectations right now, it’s going to be more of a choppy market,” said Peter Boockvar, chief investment officer at Bleakley Advisory Group. “Either way, earnings season, more than previously, is going to be a minefield because of these tariffs and a slowing growth story — and stocks that are at record highs. That doesn’t leave much room for error.”

The earnings season kicks off in a big way in the coming week, starting with the major banks, and Citigroup is first out of the gate Monday. It will be quickly followed by Goldman Sachs, Wells Fargo and industry bellwether J.P. Morgan on Tuesday, Bank of America on Wednesday and Morgan Stanley on Thursday.

Stocks set new highs in the past week, and were heading Friday for gains for the week of more than a half percent after surpassing some major milestones. The S&P 500 rose above 3,000 for the first time ever, and the Dow passed 27,000. The Fed “put,” or promise of easy policy should limit the downside for now, analysts said.

Earnings are expected to decline for the S&P 500 by 2.9% for the second quarter, according to FactSet. Of 114 companies that issued guidance for the quarter, 77% released negative forecasts, according to FactSet data.

Already Fastenal, in its earnings report, said Thursday that it was impacted by tariffs, and that it was able to raise prices but it was also hit by rising costs.

“They talked about slowing growth … and the impact tariffs are having on their costs. They’re trying to pass it on,” said Boockvar, adding other multinationals could follow. “You’re talking about the S&P 500, where 40% of revenues are sourced overseas and overseas is slowing. They’re obviously going to be hit.”

Boockvar said the impact of higher tariffs is yet to be seen, after President Donald Trump raised tariffs on $200 billion in Chinese goods to 25% from 10% on May 10. “This quarter’s earnings are really going to define the impact. A lot of companies said ‘10% we can handle, but 25% is a problem.’ Now we’re at 25%. How much of a problem is it going to be?” said Boockvar.


Company: cnbc, Activity: cnbc, Date: 2019-07-12  Authors: patti domm
Keywords: news, cnbc, companies, big, going, highs, tariffs, slowing, stock, rally, risk, week, sp, companies, end, earnings, season, impact


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Earnings season is almost here and companies are warning the results won’t be pretty

Because of uncertainty around trade wars and global growth, a bulk of U.S. companies are lowering the bar for their second-quarter earnings. Of the 114 companies that have issued earnings guidance for the period, 77% have issued negative forecasts, according to data from FactSet. “That says it all about the trajectory now of earnings,” Peter Boockvar, chief investment officer of Bleakley Advisory Group, told CNBC Thursday. Minnesota-based Fastenal was among the first companies to give investors


Because of uncertainty around trade wars and global growth, a bulk of U.S. companies are lowering the bar for their second-quarter earnings. Of the 114 companies that have issued earnings guidance for the period, 77% have issued negative forecasts, according to data from FactSet. “That says it all about the trajectory now of earnings,” Peter Boockvar, chief investment officer of Bleakley Advisory Group, told CNBC Thursday. Minnesota-based Fastenal was among the first companies to give investors
Earnings season is almost here and companies are warning the results won’t be pretty Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-11  Authors: kate rooney
Keywords: news, cnbc, companies, tariffs, warning, week, earnings, pretty, season, companies, results, fastenal, period, wont, issued, trade, boockvar, secondquarter


Earnings season is almost here and companies are warning the results won't be pretty

Because of uncertainty around trade wars and global growth, a bulk of U.S. companies are lowering the bar for their second-quarter earnings. Of the 114 companies that have issued earnings guidance for the period, 77% have issued negative forecasts, according to data from FactSet.

Thanks in part to those warnings, earnings are estimated by analysts to have declined by 2.9% year over year in the second quarter. At the start of the period, analysts expected earnings to be basically flat. If that estimate for a decline holds up, it would mark the first time the S&P 500 has reported two straight quarters of year-over-year decline in earnings in three years, according to FactSet.

“That says it all about the trajectory now of earnings,” Peter Boockvar, chief investment officer of Bleakley Advisory Group, told CNBC Thursday. Boockvar said the two “key tells this week” have been disappointing second-quarter results from MSC Industrial Direct and Fastenal, both of which cited a slowing business environment.

“These companies lie at the heart of the industrial and construction world,” Boockvar said.

Minnesota-based Fastenal was among the first companies to give investors a glimpse into the corporate cost of tariffs. The largest fastener distributor in North America said in its second-quarter earnings report this week that the trade war has damaged its business and outlined the difficulty of countering the losses.

“While we successfully raised prices as one element of our strategy to offset tariffs placed to date on products sourced from China, those increases were not sufficient to also counter general inflation in the marketplace,” Fastenal said in a press release.


Company: cnbc, Activity: cnbc, Date: 2019-07-11  Authors: kate rooney
Keywords: news, cnbc, companies, tariffs, warning, week, earnings, pretty, season, companies, results, fastenal, period, wont, issued, trade, boockvar, secondquarter


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Fed’s Powell says US homebuilders hit by ‘a perfect storm’ of Trump’s immigration policy, tariffs

Federal Reserve Chairman Jerome Powell echoed what most in the homebuilding industry have been complaining about all year. While the nation sinks into a severe housing shortage, homebuilders are struggling against high costs for labor and materials. Powell replied, “That’s what we hear from homebuilders. The homebuilders feel almost like they’ve been hit by a perfect storm here.” The lack of sufficient home construction, especially at affordable price points, has led to a severe housing shortage


Federal Reserve Chairman Jerome Powell echoed what most in the homebuilding industry have been complaining about all year. While the nation sinks into a severe housing shortage, homebuilders are struggling against high costs for labor and materials. Powell replied, “That’s what we hear from homebuilders. The homebuilders feel almost like they’ve been hit by a perfect storm here.” The lack of sufficient home construction, especially at affordable price points, has led to a severe housing shortage
Fed’s Powell says US homebuilders hit by ‘a perfect storm’ of Trump’s immigration policy, tariffs Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-11  Authors: diana olick
Keywords: news, cnbc, companies, tariffs, construction, hit, immigration, perfect, shortage, labor, policy, smith, powell, storm, housing, hear, thats, feds, trumps, especially, homebuilders


Fed's Powell says US homebuilders hit by 'a perfect storm' of Trump's immigration policy, tariffs

Jerome Powell, chairman of the U.S. Federal Reserve, speaks during a Senate Banking Committee hearing in Washington, D.C., on Thursday, July 11, 2019.

Federal Reserve Chairman Jerome Powell echoed what most in the homebuilding industry have been complaining about all year. While the nation sinks into a severe housing shortage, homebuilders are struggling against high costs for labor and materials.

In response to questioning from Sen. Tina Smith, D-Minn., Powell said, “What we hear from the homebuilders is that it’s a series of factors that are holding them back and challenging affordability.”

He pointed to the fact that thousands of skilled workers left the construction industry following the housing crash that began in 2008 and never returned.

“Now you have a shortage of skilled labor, so it’s hard to get people on the job, electricians, plumbers, carpenters and other people. No matter what you pay them, just finding people to do that work,” said Powell.

Smith responded, “Would you say our immigration policy might have something to do with that?”

Powell replied, “That’s what we hear from homebuilders. That’s part of it for sure.”

Then he added, “Material costs too have gone up, and some of that is tariffs for sure. The homebuilders feel almost like they’ve been hit by a perfect storm here.”

Builders, especially in the south and west, rely on immigrant labor, much of it from Mexico. The Trump administration’s tough stance on immigration has hit construction employers hard.

“It’s really across the entire labor force, I mean some of the stats are staggering,” said Sheryl Palmer, CEO of Arizona-based homebuilder Taylor Morrison, at a recent CNBC Capital Exchange conference. “We’ve lost productivity, and we haven’t brought new kids into the system because it’s not this career that folks are aspiring to have, and for all those reasons, we just can’t physically solve the problem because we just can’t get them [houses] built.”

Single-family housing starts have been unimpressive so far this year. In May, they fell 6.4% compared with April and were 12.5% lower compared with May 2018, according to the U.S. Census.

The lack of sufficient home construction, especially at affordable price points, has led to a severe housing shortage. That shortage continues to inflate home prices, keeping would-be first-time buyers on the sidelines. Rents are now rising at a fast clip, as occupancy is unexpectedly high in both apartment buildings and single-family rental properties.

“What I hear from businesses and communities, especially in rural Minnesota but really all over the state, is that the lack of workforce housing, affordable housing for people who have good jobs is actually a real limit on economic growth,” said Smith.


Company: cnbc, Activity: cnbc, Date: 2019-07-11  Authors: diana olick
Keywords: news, cnbc, companies, tariffs, construction, hit, immigration, perfect, shortage, labor, policy, smith, powell, storm, housing, hear, thats, feds, trumps, especially, homebuilders


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Top US port for China ocean trade reports decline in June imports

The Los Angeles and Long Beach port complex, the nation’s busiest and the No. 1 for ocean trade with China, handled 5.1% fewer inbound containers of cargo in June, as the trade standoff between Washington and Beijing disrupts global supply chains. Many have warned that the global economy is cooling, due in part to trade tensions between the United States and China. May’s decline was largely due to China’s Cosco Shipping’s cutting volume at the Port of Long Beach, S&P Global Market Intelligence’s


The Los Angeles and Long Beach port complex, the nation’s busiest and the No. 1 for ocean trade with China, handled 5.1% fewer inbound containers of cargo in June, as the trade standoff between Washington and Beijing disrupts global supply chains. Many have warned that the global economy is cooling, due in part to trade tensions between the United States and China. May’s decline was largely due to China’s Cosco Shipping’s cutting volume at the Port of Long Beach, S&P Global Market Intelligence’s
Top US port for China ocean trade reports decline in June imports Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-11  Authors: jacob pramuk
Keywords: news, cnbc, companies, los, imports, china, goods, cargo, port, reports, decline, beach, tariffs, long, global, trade, ocean


Top US port for China ocean trade reports decline in June imports

Shipping containers are loaded onto a ship at the Port of Los Angeles.

The Los Angeles and Long Beach port complex, the nation’s busiest and the No. 1 for ocean trade with China, handled 5.1% fewer inbound containers of cargo in June, as the trade standoff between Washington and Beijing disrupts global supply chains.

Imports to the smaller Port of Long Beach dropped 13.7% from June 2018, more than offsetting the 3.5% gain at the Port of Los Angeles, which processed 396,306.5 20-foot equivalent units, a standardized maritime measurement for counting cargo containers.

June was the second month of import declines at the sprawling facility, which is in the midst of what is typically the peak season for inbound shipments of goods earmarked for winter holiday sales.

Logistics companies ranging from ocean shippers to parcel delivery companies are bellwethers for the global economy. Many have warned that the global economy is cooling, due in part to trade tensions between the United States and China.

May’s decline was largely due to China’s Cosco Shipping’s cutting volume at the Port of Long Beach, S&P Global Market Intelligence’s trade data firm Panjiva said in a recent report. A spokesman for the Long Beach Port on Thursday said the facility saw similar shifts by cargo ships in June.

U.S. seaports booked record imports in 2018 after retailers rushed to bring in a swath of Chinese goods – including furniture, appliances and auto parts – before they were subject to new tariffs. Retailers stuffed warehouses to the rafters and are still working through that inventory.

The Trump administration escalated the trade conflict this May, announcing a tariff hike on $200 billion of Chinese products. China retaliated with tariffs on $60 billion of U.S. goods.

The United States has paused plans to hit China with tariffs on an additional $300 billion of goods while the two countries seek a trade deal.

“Retailers still want to protect their customers against potential price increases that would come with any additional tariffs, but with the latest proposed tariffs on hold for now and warehouses bulging, there’s only so much they can do,” said Jonathan Gold, the National Retail Federation’s vice president for supply chain and customs policy.

U.S. exports, which have been hard hit by China’s retaliatory tariffs, fell 3.4% year-on-year in June, the two ports said.


Company: cnbc, Activity: cnbc, Date: 2019-07-11  Authors: jacob pramuk
Keywords: news, cnbc, companies, los, imports, china, goods, cargo, port, reports, decline, beach, tariffs, long, global, trade, ocean


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Trump says India tariffs on American products are ‘no longer acceptable’

President Donald Trump said Tuesday the U.S. needs to stand up to India on the trade front. In a tweet, Trump said: “India has long had a field day putting Tariffs on American products. The iShares MSCI India ETF (INDA) ETF fell more than 1% in the premarket after the tweet was sent. Earlier this year, the Trump administration stripped India of a preferential status that exempted billions of dollars worth of products made there from U.S. levies. India has tariffs on U.S. products such as Harley-


President Donald Trump said Tuesday the U.S. needs to stand up to India on the trade front. In a tweet, Trump said: “India has long had a field day putting Tariffs on American products. The iShares MSCI India ETF (INDA) ETF fell more than 1% in the premarket after the tweet was sent. Earlier this year, the Trump administration stripped India of a preferential status that exempted billions of dollars worth of products made there from U.S. levies. India has tariffs on U.S. products such as Harley-
Trump says India tariffs on American products are ‘no longer acceptable’ Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-09  Authors: fred imbert
Keywords: news, cnbc, companies, longer, trump, tariffs, harleydavidson, trade, indias, acceptable, india, worth, etf, products, donald, american


Trump says India tariffs on American products are 'no longer acceptable'

India’s Prime Minister Narendra Modi (R) and US President Donald Trump during a meeting in the sidelines of the G20 Leaders’ Summit in Buenos Aires, on November 30, 2018.

President Donald Trump said Tuesday the U.S. needs to stand up to India on the trade front.

In a tweet, Trump said: “India has long had a field day putting Tariffs on American products. No longer acceptable!”

The iShares MSCI India ETF (INDA) ETF fell more than 1% in the premarket after the tweet was sent. It later recovered to trade along the flatline, however.

Earlier this year, the Trump administration stripped India of a preferential status that exempted billions of dollars worth of products made there from U.S. levies. “I have determined that India has not assured the United States that India will provide equitable and reasonable access to its markets,” Trump said in a proclamation.

India has tariffs on U.S. products such as Harley-Davidson motorcycles and U.S.-grown apples, among others. In June, Trump said India’s 50% levy on Harley-Davidson bikes was “unacceptable.”

The latest escalation comes as the U.S. tries to broker a trade deal with China. U.S. officials are expected to meet with Chinese trade negotiators this week.


Company: cnbc, Activity: cnbc, Date: 2019-07-09  Authors: fred imbert
Keywords: news, cnbc, companies, longer, trump, tariffs, harleydavidson, trade, indias, acceptable, india, worth, etf, products, donald, american


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