US–China trade war optimism? Big companies are not buying it

If you follow the markets, there’s been recent reason for optimism about a U.S.-China trade deal. The quarterly survey finds CFOs around the world increasingly are worried about U.S. trade policy as a business risk factor. If a trade deal remains elusive, even that stability may not last long. — CNBC Global CFO Survey Q3 U.S. CFOs taking the survey did reveal significant concerns about the trade war in other responses. Impact of trade tensions new new U.S. tariffs—CNBC Global CFO Survey Q3 The d


If you follow the markets, there’s been recent reason for optimism about a U.S.-China trade deal. The quarterly survey finds CFOs around the world increasingly are worried about U.S. trade policy as a business risk factor. If a trade deal remains elusive, even that stability may not last long. — CNBC Global CFO Survey Q3 U.S. CFOs taking the survey did reveal significant concerns about the trade war in other responses. Impact of trade tensions new new U.S. tariffs—CNBC Global CFO Survey Q3 The d
US–China trade war optimism? Big companies are not buying it Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-09-13  Authors: eric rosenbaum, anthony volastro
Keywords: news, cnbc, companies, buying, china, big, companies, deal, survey, business, optimism, president, risk, trade, policy, cfo, cfos, war, uschina


US–China trade war optimism? Big companies are not buying it

If you follow the markets, there’s been recent reason for optimism about a U.S.-China trade deal. Some investors are buying it — literally — with recent gains in stocks attributed to positive signals from the U.S. and China after a volatile August. But there’s one group of market insiders not buying the talk: corporate executives. In other words, the people who run the companies whose publicly traded shares have been rebounding. Top executives in the U.S. and around the world are not placing bets that the U.S.-China trade war will be resolved anytime soon. In fact, corporations say they expect to feel the pain of trade tensions over the next six months, according to the third-quarter CNBC Global CFO Council survey. The quarterly survey finds CFOs around the world increasingly are worried about U.S. trade policy as a business risk factor. Chief financial officers also downgraded their view of the U.S. economy, from “improving” to “stable.” If a trade deal remains elusive, even that stability may not last long. “With this level of uncertainty between the U.S. and China, I would think ‘stable’ might actually be a win a couple of quarters from now,” said Jack McCullough, president and founder of the CFO Leadership Council, an executive networking group. “I cannot recall when CFOs were as jittery about a change in policy as they are today.” The CNBC Global CFO Council represents some of the largest public and private companies in the world, collectively managing more than $5 trillion in market value across a wide variety of sectors. The Q3 2019 survey was conducted between Aug. 21 and Sept. 3 among 62 global members of the council.

Trade is the biggest risk factor

Thirty-five percent of CFOs cited U.S. trade policy as the “biggest external risk factor,” which was more than double the second biggest risk highlighted: “consumer demand.” Fears about trade were up from 22% in the second quarter. There was an important split between U.S. CFOs and those based around the world. Thirty-five percent of U.S. CFOs cited consumer demand as the top external risk factor, which can be explained by the fact that the resilience of the U.S. economy, in spite of slowdowns in Europe and China, has been based on consumer strength. What is the biggest external risk factor currently facing your business? — CNBC Global CFO Survey Q3 U.S. CFOs taking the survey did reveal significant concerns about the trade war in other responses. About sixty-five percent said trade policy will be a negative for their business over the next six months. In Q2 that had dropped to 40% — possibly due to a prevailing and false sense of security that a deal would be easier to achieve than has proven to be the case — but it is now back up to a level consistent with the Q3 2018 through Q1 2019 surveys. “The surprise may be that only about 65% of CFOs view that trade policy will be a negative for their organizations,” McCullough said. “While at a macro level it’s easy to understand the motivation behind the recent policy changes, I can’t find a single CFO who has told me it would be a positive for his or her business. … It is uniformly negative for their business, at least in the eyes of finance chiefs.”

While at a macro level it’s easy to understand the motivation behind the recent policy changes, I can’t find a single CFO who has told me it would be a positive for his or her business. Jack McCullough president and founder, CFO Leadership Council

McCullough noted that his networking group offers an online forum for more than 1,100 chief financial officers to discuss issues of importance to their business. He said there never has been a question that he can recall about government policy that has dominated discussion as much as the trade policy has recently. That discussion has included whether manufacturing is moving and strategies for dealing with tariffs. “It is top of mind, and they are not confident they will emerge from this unscathed,” he said. Nearly half of North American CFOs surveyed by CNBC said they are facing higher input costs, and more than one-quarter said they have increased prices to offset those costs. They were more likely than European or Asian counterparts to say they have experienced higher costs and passed on those costs to customers. And more likely to say they have moved operations to minimize the impact of tariffs, though that was less than 20% of CFO respondents. While U.S. CFOs indicated in the survey that they were not confident about increasing their capital spend, less than 10% said they had delayed or canceled projects because of trade policy. Impact of trade tensions new new U.S. tariffs—CNBC Global CFO Survey Q3 The daily headlines can be tougher to measure. On Thursday alone, news broke that the U.S. and China were considering an interim trade deal, but a few minutes later a senior White House official told CNBC no such deal was in the works. President Donald Trump did agree to delay increasing tariffs on $250 billion worth of Chinese goods from Oct. 1 to Oct. 15 as a “gesture of goodwill,” and that move was matched by China, which said it would restart purchase of some U.S. agricultural products. Then later in the day, President Trump told reporters he would be open to an interim trade deal with China but would prefer a lasting deal. “It’s something we would consider, I guess,” Trump said. The U.S. and China have agreed to meet again at the negotiating table in October, a plan that was reported after an early September phone call between Chinese Vice Premier Liu He, U.S. Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin. CFOs view of the trade war is not yet influencing their thinking about President Trump’s reelection chances. The survey found the majority of CFOs of the belief that Trump will be reelected in 2020 and the U.S. economy will not slip into a recession next year.

Trade weighing on business investment


Company: cnbc, Activity: cnbc, Date: 2019-09-13  Authors: eric rosenbaum, anthony volastro
Keywords: news, cnbc, companies, buying, china, big, companies, deal, survey, business, optimism, president, risk, trade, policy, cfo, cfos, war, uschina


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China adds US agricultural products to tariff exemptions ahead of trade talks

US–China trade war optimism? Big companies are not buying itTop executives do not think the U.S.-China trade war will be resolved soon. Sixty-five percent of U.S. CFOs think U.S. trade policy will be negative for their businesses over…CNBC Global CFO Councilread more


US–China trade war optimism? Big companies are not buying itTop executives do not think the U.S.-China trade war will be resolved soon. Sixty-five percent of U.S. CFOs think U.S. trade policy will be negative for their businesses over…CNBC Global CFO Councilread more
China adds US agricultural products to tariff exemptions ahead of trade talks Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-09-13  Authors: yun li, eric rosenbaum
Keywords: news, cnbc, companies, china, soon, ahead, resolved, think, tariff, agricultural, overcnbc, products, adds, talks, sixtyfive, optimism, trade, exemptions, policy, war, uschina


China adds US agricultural products to tariff exemptions ahead of trade talks

US–China trade war optimism? Big companies are not buying it

Top executives do not think the U.S.-China trade war will be resolved soon. Sixty-five percent of U.S. CFOs think U.S. trade policy will be negative for their businesses over…

CNBC Global CFO Council

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Company: cnbc, Activity: cnbc, Date: 2019-09-13  Authors: yun li, eric rosenbaum
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Dropcam founder Greg Duffy reportedly leaves Apple

US–China trade war optimism? Big companies are not buying itTop executives do not think the U.S.-China trade war will be resolved soon. Sixty-five percent of U.S. CFOs think U.S. trade policy will be negative for their businesses over…CNBC Global CFO Councilread more


US–China trade war optimism? Big companies are not buying itTop executives do not think the U.S.-China trade war will be resolved soon. Sixty-five percent of U.S. CFOs think U.S. trade policy will be negative for their businesses over…CNBC Global CFO Councilread more
Dropcam founder Greg Duffy reportedly leaves Apple Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-09-12  Authors: kif leswing
Keywords: news, cnbc, companies, soon, leaves, resolved, dropcam, apple, think, founder, overcnbc, sixtyfive, optimism, reportedly, trade, duffy, policy, war, uschina, greg


Dropcam founder Greg Duffy reportedly leaves Apple

US–China trade war optimism? Big companies are not buying it

Top executives do not think the U.S.-China trade war will be resolved soon. Sixty-five percent of U.S. CFOs think U.S. trade policy will be negative for their businesses over…

CNBC Global CFO Council

read more


Company: cnbc, Activity: cnbc, Date: 2019-09-12  Authors: kif leswing
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Breakthrough in US-China trade talks is ‘a bit optimistic,’ says former commerce secretary

President Donald Trump (L) shakes hand with China’s President Xi Jinping at the end of a press conference at the Great Hall of the People in Beijing on November 9, 2017. Suggestions that the next round of U.S.-China trade talks could result in some breakthrough is “a bit optimistic,” former American Commerce Secretary Carlos Gutierrez said on Friday. But after both sides agreed to meet in early October in Washington to discuss trade, Hu Xijin — editor-in-chief of Chinese state media Global Times


President Donald Trump (L) shakes hand with China’s President Xi Jinping at the end of a press conference at the Great Hall of the People in Beijing on November 9, 2017. Suggestions that the next round of U.S.-China trade talks could result in some breakthrough is “a bit optimistic,” former American Commerce Secretary Carlos Gutierrez said on Friday. But after both sides agreed to meet in early October in Washington to discuss trade, Hu Xijin — editor-in-chief of Chinese state media Global Times
Breakthrough in US-China trade talks is ‘a bit optimistic,’ says former commerce secretary Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-09-06  Authors: yen nee lee
Keywords: news, cnbc, companies, president, uschina, coming, commerce, secretary, twitter, optimistic, china, xijin, widely, washington, trade, bit, talks, breakthrough


Breakthrough in US-China trade talks is 'a bit optimistic,' says former commerce secretary

President Donald Trump (L) shakes hand with China’s President Xi Jinping at the end of a press conference at the Great Hall of the People in Beijing on November 9, 2017.

Suggestions that the next round of U.S.-China trade talks could result in some breakthrough is “a bit optimistic,” former American Commerce Secretary Carlos Gutierrez said on Friday.

The tariff fight between the two countries escalated again this month as they slapped additional tariffs on each other’s goods — which led many analysts and economists to lower their expectations that the U.S. and China could reach a trade deal in the coming months.

But after both sides agreed to meet in early October in Washington to discuss trade, Hu Xijin — editor-in-chief of Chinese state media Global Times — said Thursday on Twitter that “there’s more possibility of a breakthrough.” Hu’s Twitter account is widely followed for his insights on the trade war.

Gutierrez, who served under former President George W. Bush, said it’s difficult to see the U.S. and China coming to an agreement in the near term.


Company: cnbc, Activity: cnbc, Date: 2019-09-06  Authors: yen nee lee
Keywords: news, cnbc, companies, president, uschina, coming, commerce, secretary, twitter, optimistic, china, xijin, widely, washington, trade, bit, talks, breakthrough


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The 10-year yield hasn’t done this in 20 years, and it could be a bullish sign

Call it a bond yield bounce. That action caused a 12% spike in the iShares 20+ Year Treasury Bond ETF (TLT) in August, a move rarely seen in the Treasury market. “Now that some of the artificial buying has pulled back, it should lead to a bounce in interest rates and a sell-off in the bond market,” Maley said. If the Fed cuts as expected, I think the yield curve eventually straightens out,” he said. “And, in my opinion, … the opportunities right now are much more attractive in the stock market


Call it a bond yield bounce. That action caused a 12% spike in the iShares 20+ Year Treasury Bond ETF (TLT) in August, a move rarely seen in the Treasury market. “Now that some of the artificial buying has pulled back, it should lead to a bounce in interest rates and a sell-off in the bond market,” Maley said. If the Fed cuts as expected, I think the yield curve eventually straightens out,” he said. “And, in my opinion, … the opportunities right now are much more attractive in the stock market
The 10-year yield hasn’t done this in 20 years, and it could be a bullish sign Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-09-06  Authors: lizzy gurdus
Keywords: news, cnbc, companies, treasury, think, yields, stock, fed, yield, 10year, market, bond, uschina, maley, sign, bullish


The 10-year yield hasn't done this in 20 years, and it could be a bullish sign

Call it a bond yield bounce.

U.S. Treasury yields turned higher on Thursday following news that U.S.-China trade talks were to resume in October, mirroring a broad-based move up in the stock market. The yield on the U.S. 10-year Treasury rose to 1.57%.

And, lucky for yield-hunters, this positive action “could last for a little while,” says Matt Maley, chief market strategist at Miller Tabak.

“Yields have been going down all year, and there’s been a good reason for that,” he said Thursday on CNBC’s “Trading Nation,” pointing to Wall Street’s concerns around slower growth, U.S.-China trade, Brexit and other geopolitical issues.

Those worries have led to what Maley called “artificial buying” in the bond market, with investors flocking to bond-based mutual funds and other investments in the interest of hedging their existing positions. That action caused a 12% spike in the iShares 20+ Year Treasury Bond ETF (TLT) in August, a move rarely seen in the Treasury market.

“Now that some of the artificial buying has pulled back, it should lead to a bounce in interest rates and a sell-off in the bond market,” Maley said.

That theory is not only supported by the moves in the TLT — which, as of Thursday, was the most overbought it has been since its inception in 2002 — but by bond yields themselves, the strategist said.

Ten-year yields, for example, are “the most oversold they’ve been since 1998,” Maley said.

“These are kind of the streams I think will lead to tradeable moves, not just ones that’ll last for a couple of days,” he said. “I’m not necessarily saying it’s the end of the whole move [and] rates are going to go straight up from here, but I do think it’s one that’ll last for a while.”

Indeed, the 10-year yield did decline slightly on Friday, to 1.553%.

For Mark Tepper, president and CEO of Strategic Wealth Partners, “all the easy money in Treasurys has already been made.”

“As an investor, it’s important to understand that the 30-year yield is pretty much in line with the dividend yield on the S&P 500 right now. So, which would you rather own over the next 10 years?” he asked during an interview on the same segment. “You’re getting the same yield with a growth component if you invest in stocks.”

And if the stock market rally holds and sends the S&P back to its all-time high around 3,025, yields will follow, Tepper said.

“Right now, all eyes are on the Fed. If the Fed cuts as expected, I think the yield curve eventually straightens out,” he said. “And, in my opinion, … the opportunities right now are much more attractive in the stock market.”

The Fed meets Sept. 17-18.

Disclaimer


Company: cnbc, Activity: cnbc, Date: 2019-09-06  Authors: lizzy gurdus
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Dow futures jump more than 250 points after confirmation of US-China trade talks

U.S. stock index futures rallied Thursday after the U.S. and China agreed to meet next month in Washington to discuss trade. ET, Dow Jones Industrial Average futures traded 256 points higher, indicating a gain of 264 points at the open. Bank stocks such as J.P. Morgan Chase and Citigroup each traded more than 1% higher along with trade bellwethers Caterpillar and Boeing. China’s Commerce Ministry issued a statement Thursday morning saying that Liu He, Beijing’s top negotiator on trade, had spoke


U.S. stock index futures rallied Thursday after the U.S. and China agreed to meet next month in Washington to discuss trade. ET, Dow Jones Industrial Average futures traded 256 points higher, indicating a gain of 264 points at the open. Bank stocks such as J.P. Morgan Chase and Citigroup each traded more than 1% higher along with trade bellwethers Caterpillar and Boeing. China’s Commerce Ministry issued a statement Thursday morning saying that Liu He, Beijing’s top negotiator on trade, had spoke
Dow futures jump more than 250 points after confirmation of US-China trade talks Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-09-05  Authors: fred imbert sam meredith, weizhen tan, fred imbert, sam meredith
Keywords: news, cnbc, companies, points, 250, released, report, trade, washington, traded, jump, futures, dow, confirmation, agreed, sides, statement, talks, uschina, month


Dow futures jump more than 250 points after confirmation of US-China trade talks

U.S. stock index futures rallied Thursday after the U.S. and China agreed to meet next month in Washington to discuss trade.

Around 7 a.m. ET, Dow Jones Industrial Average futures traded 256 points higher, indicating a gain of 264 points at the open. Futures on the S&P 500 and Nasdaq 100 were both higher.

The VanEck Vectors Semiconductor ETF (SMH) climbed 0.9% in the premarket as Advanced Micro Devices and On Semiconductor both gained more than 1%. Bank stocks such as J.P. Morgan Chase and Citigroup each traded more than 1% higher along with trade bellwethers Caterpillar and Boeing.

China’s Commerce Ministry issued a statement Thursday morning saying that Liu He, Beijing’s top negotiator on trade, had spoken with U.S. Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin.

The two sides agreed to hold another round of trade negotiations in Washington, D.C., towards the beginning of next month, and consultations will be made in mid-September in preparation for the meeting, the statement said.

“Both sides agreed they should work together and take practical actions to create favorable conditions for the negotiations,” according to a CNBC translation of the statement.

The announcement came after the world’s two largest economies imposed new tariffs on each other’s goods at the start of the month, marking yet another escalation in the protracted trade war.

Previously, both sides had indicated they would meet in September.

On the data front, investors are likely to closely monitor a flurry of economic reports on Thursday.

The private sector ADP National Employment Report for August will be released at 8:15 a.m. ET, with the latest weekly jobless claims and second-quarter productivity and unit labor costs set to be released slightly later in the session.

A final reading of services Purchasing Managers’ Index (PMI) for August, ISM non-manufacturing data for August, and factory orders for July will also be released early Thursday.

Shares of Slack, maker of the popular workplace messaging chat app, were slammed after the company issued its first earnings report as a public company, briefly dropping below the reference price from its direct listing.

—CNBC’s Evelyn Cheng and Eamon Javers contributed to this report.


Company: cnbc, Activity: cnbc, Date: 2019-09-05  Authors: fred imbert sam meredith, weizhen tan, fred imbert, sam meredith
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Gold slides 2%, silver sheds 4% on trade optimism, strong US data

Gold slumped more than 2% and silver shed 4% as stronger-than-expected U.S. economic data and hopes of a thaw in the U.S.-China trade war boosted Treasury yields and soothed fears of an economic slowdown, driving a shift back into riskier assets. Data showing U.S. private employers’ payrolls rose and U.S. services sectors growth accelerated in August boosted stock markets, which were already buoyed by positive signs on U.S.-China trade. “The risk sentiment that was sparked by the ebbing trade si


Gold slumped more than 2% and silver shed 4% as stronger-than-expected U.S. economic data and hopes of a thaw in the U.S.-China trade war boosted Treasury yields and soothed fears of an economic slowdown, driving a shift back into riskier assets. Data showing U.S. private employers’ payrolls rose and U.S. services sectors growth accelerated in August boosted stock markets, which were already buoyed by positive signs on U.S.-China trade. “The risk sentiment that was sparked by the ebbing trade si
Gold slides 2%, silver sheds 4% on trade optimism, strong US data Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-09-05
Keywords: news, cnbc, companies, strong, trade, slides, market, ounce, positive, uschina, wong, economic, gold, yields, sheds, data, silver, optimism


Gold slides 2%, silver sheds 4% on trade optimism, strong US data

Gold slumped more than 2% and silver shed 4% as stronger-than-expected U.S. economic data and hopes of a thaw in the U.S.-China trade war boosted Treasury yields and soothed fears of an economic slowdown, driving a shift back into riskier assets.

Spot gold fell 2.1% to $1,520.60 per ounce and silver fell 4% to $18.79 per ounce, after having earlier dipped as low as $1,509.03 and $18.48, respectively, with both set for their worst daily percentage decline in more than 2-1/2 years.

U.S. gold futures dropped 2% to $1,528.90 per ounce.

Platinum also declined about 2.4% to $962.00 per ounce, after having touched a low for the day of $940.50.

Data showing U.S. private employers’ payrolls rose and U.S. services sectors growth accelerated in August boosted stock markets, which were already buoyed by positive signs on U.S.-China trade.

“The gold market trading at highs was ambushed by strong U.S. data from ADP to ISM; the data also savaged a frothy bond market, which helped drive the slide in gold,” said Tai Wong, head of base and precious metals derivatives trading at BMO.

Driving hopes of a thaw in the protracted dispute between the world’s two largest economies, China’s Commerce Ministry confirmed high-level trade discussions with the United States set for early October.

“The risk sentiment that was sparked by the ebbing trade situation is leading to gold market participants to take some of their bets off,” said Daniel Ghali, commodity strategist at TD Securities.

The changes in gold and Treasury yields are both symptoms of the same economic circumstances, Ghali said. “The longer yields are rising because growth expectations are.”

Treasury yields jumped on the positive developments on U.S.-China trade as well as the strong U.S. data.

Investors will now turn their attention to the U.S. nonfarm payrolls data on Friday for further clarity on the U.S. economic health.

With additional positive payrolls data, “you could see a further retreat from bonds and gold,” BMO’s Wong said.

“But barring a stunning trade resolution it remains a bullish bond market in the U.S. due in large part to the fact that yields in the rest of the developed world are practically non-existent. Gold might correct but the overall positive outlook will remain,” Wong added.

Palladium was the sole gainer, rising 0.6% to $1,561.93 per ounce, having hit $1,567.68 its highest in more than 1-1/2 months earlier in the session.


Company: cnbc, Activity: cnbc, Date: 2019-09-05
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Dow futures fall more than 200 points after new US-China trade tariffs take effect

U.S. stock index futures were sharply lower Tuesday morning, after the world’s two largest economies began imposing new tariffs on one another’s goods. ET, Dow futures fell 234 points, indicating a negative open of more than 235 points. The U.S. imposed 15% tariffs on a variety of Chinese goods on Sunday, while China imposed new charges on U.S. products from September 1. The U.S. and China have imposed tariffs on billions of dollars’ worth of one another’s goods since the start of 2018, batterin


U.S. stock index futures were sharply lower Tuesday morning, after the world’s two largest economies began imposing new tariffs on one another’s goods. ET, Dow futures fell 234 points, indicating a negative open of more than 235 points. The U.S. imposed 15% tariffs on a variety of Chinese goods on Sunday, while China imposed new charges on U.S. products from September 1. The U.S. and China have imposed tariffs on billions of dollars’ worth of one another’s goods since the start of 2018, batterin
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Company: cnbc, Activity: cnbc, Date: 2019-09-03  Authors: sam meredith
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Dow futures fall more than 200 points after new US-China trade tariffs take effect

U.S. stock index futures were sharply lower Tuesday morning, after the world’s two largest economies began imposing new tariffs on one another’s goods.

At around 03:20 a.m. ET, Dow futures fell 234 points, indicating a negative open of more than 235 points. Futures on the S&P and Nasdaq were both lower. The moves in pre-market trade come after investors observed a market holiday on Monday.

The U.S. imposed 15% tariffs on a variety of Chinese goods on Sunday, while China imposed new charges on U.S. products from September 1. It marked the latest escalation in their long-running trade war.

The U.S. and China have imposed tariffs on billions of dollars’ worth of one another’s goods since the start of 2018, battering financial markets and souring business and consumer sentiment.

President Donald Trump has said officials from both sides were still planning to meet later this month, despite rising tensions.

On Monday, Beijing filed a complaint against Washington at the World Trade Organization over U.S. import duties. China claimed the latest round of tariffs violated a consensus reached by leaders of both countries in Osaka, Japan.


Company: cnbc, Activity: cnbc, Date: 2019-09-03  Authors: sam meredith
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Trump ‘doesn’t necessarily need a deal’ with Beijing to be reelected, says US-China Business Council

U.S. President Donald Trump “doesn’t necessarily need a deal” with Beijing in order to be reelected in the 2020 presidential race, says a senior director at the U.S.-China Business Council. The U.S. and China have increased tariffs on billions of dollars of each other’s goods since last year, and the latest round of levies kicked in on Sunday. Globally, the trade fight has roiled investment markets and dampened world economic outlook. Domestically, American businesses from farmers to manufacture


U.S. President Donald Trump “doesn’t necessarily need a deal” with Beijing in order to be reelected in the 2020 presidential race, says a senior director at the U.S.-China Business Council. The U.S. and China have increased tariffs on billions of dollars of each other’s goods since last year, and the latest round of levies kicked in on Sunday. Globally, the trade fight has roiled investment markets and dampened world economic outlook. Domestically, American businesses from farmers to manufacture
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Company: cnbc, Activity: cnbc, Date: 2019-09-03  Authors: eustance huang
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Trump 'doesn't necessarily need a deal' with Beijing to be reelected, says US-China Business Council

U.S. President Donald Trump “doesn’t necessarily need a deal” with Beijing in order to be reelected in the 2020 presidential race, says a senior director at the U.S.-China Business Council.

“As long as the trade war that we’re in right now isn’t having an impact on the United States’ economy that is demonstrably bad for regular Americans … being tough on China, looking tough, is probably enough,” Anna Ashton, senior director of government affairs at the U.S.-China Business Council, told CNBC’s “Street Signs” on Monday.

Still, she added, the new tariffs that went into effect over the weekend — along with those that will take place in December — will “hit every consumer product that Americans buy.”

The U.S. and China have increased tariffs on billions of dollars of each other’s goods since last year, and the latest round of levies kicked in on Sunday.

Globally, the trade fight has roiled investment markets and dampened world economic outlook. Domestically, American businesses from farmers to manufacturers to tech firms have been hurt by the tariffs and are urging both sides to refrain from further escalation.

“I have a hard time imagining that we will get to the 2020 election without seeing a significant impact to people’s pocketbooks,” Ashton said.


Company: cnbc, Activity: cnbc, Date: 2019-09-03  Authors: eustance huang
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A US-China deal that lacks trust could be ‘dangerous,’ warns Singapore’s trade minister

Aly Song | ReutersEven if they get a deal, or whatever deal that they get … Otherwise, a U.S.-China deal will still leave the global economy fragmented, he added. “That is the most dangerous trajectory for the world economy,” he added. Trade war impact on SingaporeSingapore’s export-reliant economy has been hit by a global slowdown in trade. “We are continuing to diversify our portfolio of trade, making sure that we have more trade agreements, more substantive trade agreements with the existin


Aly Song | ReutersEven if they get a deal, or whatever deal that they get … Otherwise, a U.S.-China deal will still leave the global economy fragmented, he added. “That is the most dangerous trajectory for the world economy,” he added. Trade war impact on SingaporeSingapore’s export-reliant economy has been hit by a global slowdown in trade. “We are continuing to diversify our portfolio of trade, making sure that we have more trade agreements, more substantive trade agreements with the existin
A US-China deal that lacks trust could be ‘dangerous,’ warns Singapore’s trade minister Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-09-02  Authors: yen nee lee
Keywords: news, cnbc, companies, warns, trade, sure, global, uschina, lacks, trust, deal, economy, think, singapores, dangerous, supply, chan, world, minister


A US-China deal that lacks trust could be 'dangerous,' warns Singapore's trade minister

Containers sit at the Yangshan Port in Shanghai, China, Aug. 6, 2019. Aly Song | Reuters

Even if they get a deal, or whatever deal that they get … I think the lack of strategic trust will be the more important factor. Chan Chun Sing Singapore minister for trade and industry

He explained that both sides have to make sure their objectives of reaching an agreement are aligned. Otherwise, a U.S.-China deal will still leave the global economy fragmented, he added. “Even if they get a deal, or whatever deal that they get … I think the lack of strategic trust will be the more important factor,” the minister told CNBC’s “Squawk Box.”

Without that trust, countries will “start taking actions to de-risk their own economies by fragmenting their supply chains or by diversifying their supply chains in a fragmented world,” said Chan. “That is the most dangerous trajectory for the world economy,” he added. There are already signs that companies are moving their production out of China to circumvent elevated tariffs. But some experts said such a shift may not be the most efficient for global goods production because alternative locations such as Vietnam are still years away from gaining the capabilities to replace China’s as the world’s factory.

Trade war impact on Singapore

Singapore’s export-reliant economy has been hit by a global slowdown in trade. The Southeast Asian economy contracted by 3.3% on quarter in the April-to-June period, with some economists warning that a recession may be around the corner. Singapore’s government last month slashed its 2019 official growth forecast to zero to 1%, from 1.5% to 2.5% previously. Chan said Monday the city-state could escape a recession, but acknowledged that a challenging external environment could further weigh down Singapore’s prospects. The government and companies have pressed on with efforts to to make the Singaporean economy more resilient, he said. “We prefer to focus on the long term,” he said. “We are continuing to diversify our portfolio of trade, making sure that we have more trade agreements, more substantive trade agreements with the existing partners and new partners.”


Company: cnbc, Activity: cnbc, Date: 2019-09-02  Authors: yen nee lee
Keywords: news, cnbc, companies, warns, trade, sure, global, uschina, lacks, trust, deal, economy, think, singapores, dangerous, supply, chan, world, minister


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