Cramer: Between G-20, jobs report and Fed forecasts, ‘I am taking a cautious stand next week’

It also forecast at least one rate cut, but not until 2020. However, Fed Chair Jerome Powell left open the possibility of a rate cut this year in a post-meeting press conference with reporters. The Fed wants to see “the employment numbers for June and whatever the president does next on trade at the G-20 meeting next week.” President Donald Trump is expected to meet with Chinese President Xi Jinping at next week’s G-20 summit in Osaka, Japan. That’s why I’m taking a cautious stand on next week,


It also forecast at least one rate cut, but not until 2020. However, Fed Chair Jerome Powell left open the possibility of a rate cut this year in a post-meeting press conference with reporters. The Fed wants to see “the employment numbers for June and whatever the president does next on trade at the G-20 meeting next week.” President Donald Trump is expected to meet with Chinese President Xi Jinping at next week’s G-20 summit in Osaka, Japan. That’s why I’m taking a cautious stand on next week,
Cramer: Between G-20, jobs report and Fed forecasts, ‘I am taking a cautious stand next week’ Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-06-21  Authors: berkeley lovelace jr
Keywords: news, cnbc, companies, stand, jobs, xi, cramer, forecasts, trump, meeting, cut, cautious, trade, rate, taking, rates, g20, week, fed, report


Cramer: Between G-20, jobs report and Fed forecasts, 'I am taking a cautious stand next week'

The Federal Reserve likely wants to see June’s nonfarm payrolls report and any U.S.-China trade developments from this month’s G-20 meeting before making a commitment on cutting interest rates, CNBC’s Jim Cramer said Friday.

The central bank voted Wednesday to keep its benchmark interest rate unchanged. It also forecast at least one rate cut, but not until 2020. However, Fed Chair Jerome Powell left open the possibility of a rate cut this year in a post-meeting press conference with reporters.

The Fed’s decision comes after the world’s two largest economies increased tariffs on one another last month. The U.S. increased duties on $200 billion worth of Chinese products from 10% to 25%. China announced plans to raise tariff rates on $60 billion in U.S. goods. The trade dispute has threatened to drag down the global economy and sparked calls on the Fed for a rate cut or even multiple cuts in 2019.

“Remember, [Powell] didn’t commit to cutting rates next month, he just said he’s monitoring the situation,” the “Mad Money” host said. The Fed wants to see “the employment numbers for June and whatever the president does next on trade at the G-20 meeting next week.”

The Labor Department will release its closely watched monthly employment report on July 5.

President Donald Trump is expected to meet with Chinese President Xi Jinping at next week’s G-20 summit in Osaka, Japan. China had kept silent about whether Xi would agree to a face-to-face meeting. Trump, however, hinted at additional tariffs on Chinese goods if Xi did not sign on for a sit-down.

Cramer said he expects to see Monday “some preview of the talks with China.” But Cramer also said he’s not optimistic that Trump and Xi will be able to come to a trade agreement at the meeting.

“We had a great run this week, but the market’s now in overbought territory and there are a bunch of potentially negative catalysts. That’s why I’m taking a cautious stand on next week, and I suggest you do the same,” Cramer said.


Company: cnbc, Activity: cnbc, Date: 2019-06-21  Authors: berkeley lovelace jr
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What to watch in the market in the week ahead: Stocks on track for best first half in 22 years

The S&P 500 was on track, as of Friday, to score a more than 17.6% gain for the first half, which ends Friday. The big event in the coming week has been as anticipated for weeks, and it could sway sentiment for weeks to come. At the end of the week, the G-20 meets in Osaka Japan for meetings Friday and Saturday. “Everybody knows the Trump, Xi meeting could go either way,” said Marc Chandler, chief market strategist at Bannockburn Global Forex. “I think there’s been this broad increased awareness


The S&P 500 was on track, as of Friday, to score a more than 17.6% gain for the first half, which ends Friday. The big event in the coming week has been as anticipated for weeks, and it could sway sentiment for weeks to come. At the end of the week, the G-20 meets in Osaka Japan for meetings Friday and Saturday. “Everybody knows the Trump, Xi meeting could go either way,” said Marc Chandler, chief market strategist at Bannockburn Global Forex. “I think there’s been this broad increased awareness
What to watch in the market in the week ahead: Stocks on track for best first half in 22 years Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-06-21  Authors: patti domm
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What to watch in the market in the week ahead: Stocks on track for best first half in 22 years

The fate of U.S.-China trade talks could play out in the week ahead, and that could set the tone for markets and the economy in the second half of the year. Stocks set new highs in the past week, after the Federal Reserve signaled it was ready to cut interest rates if necessary, and Fed Chair Jerome Powell said trade and the global economy are two factors the Fed is watching. The S&P 500 was on track, as of Friday, to score a more than 17.6% gain for the first half, which ends Friday. If it stays at that level that would be the best first half performance since 1997, when the S&P was up 19.4% in the first six months. The big event in the coming week has been as anticipated for weeks, and it could sway sentiment for weeks to come. At the end of the week, the G-20 meets in Osaka Japan for meetings Friday and Saturday.

‘Could go either way’

President Donald Trump and Chinese President Xi Jinping are expected to have their own dinner meeting at the G-20 next weekend, following discussions between their trade representatives. That meeting could decide how trade negotiations go forward, and whether the U.S. proceeds with another round of tariffs, this time on $300 billion in goods. “Everybody knows the Trump, Xi meeting could go either way,” said Marc Chandler, chief market strategist at Bannockburn Global Forex. “I think everyone expects a new tariff freeze. That the $300 billion won’t go into effect. The most you can hope for out of G-20 meeting is the tariffs are where they are right now, and there’s no more escalation.That also means China will not release the list of companies they won’t do business with.” Chandler said he will be looking for signaling from Trump and Xi on whether they are working on a deal that would be just on the trade topics, or bigger issues like North Korea and differences on the South China Sea. “I do think the G-20 is quite important in that there’s not question in recent months, the trade war started to really move into measures of confidence and measures of manufacturing activity,” said Ethan Harris, head of global economics at Bank of America Merrill Lynch. Harris said he expects a positive message with an agreement of no further escalation, but probably not signs of significant progress. “I think the vibes coming out of it will be modestly positive,” he said. “Whether there’s an escalation to the next round of China tariffs is going to set the theme for the rest of the year. Even if tariffs on China are reversed, or partly reversed, at some point, every time there’s an escalation or temporary escalation, it’s another kind of blow to confidence,” he said. Harris said there’s the same risk as after the Trump, Xi meeting at the last G-20, where it was a positive tone but there was little progress afterwards and the markets then reacted negatively. “I think there’s been this broad increased awareness from every economist that the trade war is starting to have noticeable impact. Further escalation with China would be quite a big signal. If the Trump administration puts tariffs on all the Chinese products it roughly doubles the size of the trade war and it sends a very strong message that there are very few constraints on where [Trump] goes next,” he said.

Powell and data

Besides the meeting between Trump and Xi, the market focus will be on anything that could provide clues on what the Fed or even the European Central Bank will do, after ECB President Mario Draghi last week basically promised a new era of easing. Consumer price inflation data is expected for the euro zone, and on Friday, the U.S. personal consumption expenditure data is released, including the PCE deflator, a major inflation indicator for the Fed. There are also a few Fed speakers, including Powell who speaks at the Council on Foreign Relations Tuesday. “It’s probably going to be a big picture kind of talk about the broader challenges of the Fed,” said Ethan Harris, head of global economics at Bank of America Merrill Lynch. “They’re certainly going to ask questions about political influence at the Fed, and he’s going to dodge those. I think what I’m waiting for him to comment on is what it is they’re looking for to determine whether they’re going to cut in July or not.” Harris said Powell is not likely to say anything he did not reveal at his press briefing in the past week, and the big focus will be on the lead up to the weekend G-20. Falling interest rates and rising oil prices were two big factors in the market int he past week. The 10-year Treasury yield dipped briefly below 2%, a near 3-year low, as the Fed signaled its willingness to cut interest rates. “Should we get some sort of trade agreement that would be a nice pop to the [stock] market, but that could take the rate cut off the table,” said Sam Stovall, chief investment strategist at CFRA. Stovall said the stock market will also be watching oil after its rapid run higher, and the events in the Middle East surrounding Iran. West Texas Intermediate futures were up more than 9% in the past week, to $57.43. “The old adage is every $10 increase in the price of oil takes off 20 to 25 basis points off of real GDP growth,” he said. Stovall said stocks have had a solid run so far this year, but they may face some rocky times between now and the end of the summer. “For the rest of this ‘sell in May’ period we could be facing some challenges, headwinds. I think we’ will still end higher on the year. I think the seasonally optimistic September to November period will kick in but there will be a lot of challenges…will the Fed be cutting rates? what are the growth prospects?” he said.

What to watch


Company: cnbc, Activity: cnbc, Date: 2019-06-21  Authors: patti domm
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China’s Xi Jinping arrives in North Korea on a visit ‘big on symbolism’

Chinese president Xi Jinping holds talks with North Korean leader Kim Jong Un in Dalian on May 7-8 2018. Ju Peng | Xinhua | Getty ImagesChina’s President Xi Jinping arrived in Pyongyang on Thursday morning for a state visit to North Korea — the first by a Chinese state leader in 14 years. The meeting between Xi and North Korean leader Kim Jong Un is more out of “convenience” and “pragmatism” than true comradeship, he said. Xi’s entourage includes high-level diplomats such as Chinese Foreign Mini


Chinese president Xi Jinping holds talks with North Korean leader Kim Jong Un in Dalian on May 7-8 2018. Ju Peng | Xinhua | Getty ImagesChina’s President Xi Jinping arrived in Pyongyang on Thursday morning for a state visit to North Korea — the first by a Chinese state leader in 14 years. The meeting between Xi and North Korean leader Kim Jong Un is more out of “convenience” and “pragmatism” than true comradeship, he said. Xi’s entourage includes high-level diplomats such as Chinese Foreign Mini
China’s Xi Jinping arrives in North Korea on a visit ‘big on symbolism’ Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-06-20  Authors: grace shao
Keywords: news, cnbc, companies, pyongyang, arrives, north, president, trade, state, visit, korea, jinping, xi, chinese, china, chinas, symbolism, big


China's Xi Jinping arrives in North Korea on a visit 'big on symbolism'

Chinese president Xi Jinping holds talks with North Korean leader Kim Jong Un in Dalian on May 7-8 2018. Ju Peng | Xinhua | Getty Images

China’s President Xi Jinping arrived in Pyongyang on Thursday morning for a state visit to North Korea — the first by a Chinese state leader in 14 years. Experts say the move is both symbolic and significant. The visit — which comes days before Xi is set to meet with U.S. President Donald Trump at the G-20 summit — will be “big on symbolism and big on substance,” said John Park, director of the Korea Project at Harvard Kennedy School. Washington and Beijing are currently locked in a protracted trade war that started last year and investors are hoping for some progress during the G-20 meeting. Xi’s visit to Pyongyang also comes as nuclear talks between the U.S. and North Korea have reached a stalemate, after the leaders from both countries walked away from the negotiating table during a February summit in Hanoi. Tom Rafferty from the Economist Intelligence Unit told CNBC on a phone interview that the visit shows that both China and North Korea “are engaged in a bit of messaging to the U.S.”

Xi’s trip is partly an effort to remind Trump of the key role that China plays on the North Korean nuclear issue. Michael Hirson Eurasia Group

Nonetheless, it is important to note the significance of having such a high-level Chinese state-visit, Rafferty said, adding that it doesn’t mean there are no problems between the neighboring countries. The meeting between Xi and North Korean leader Kim Jong Un is more out of “convenience” and “pragmatism” than true comradeship, he said. Xi’s entourage includes high-level diplomats such as Chinese Foreign Minister Wang Yi and head of the state economic planner, He Lifeng, according to Chinese state media Xinhua.

North Korea dependency

“The economic dimension is crucial and in many respects — the 1%, the elites in North Korea … (have) already migrated into the Chinese market place,” Park told CNBC on Thursday. He highlighted that the meeting between the two leaders is a “further elevation” and “rebuilding of this party-to-party dynamic.” About 90% of North Korea’s external trade is with China, and that includes the import of food and energy supplies. Although China has been staying within the the guidelines of the United Nations sanctions on North Korea, Park said that an “easing” of sanctions by Beijing toward Pyongyang can be expected. Fundamentally, he said, China is a “lifeline for Pyongyang.”

US-China trade


Company: cnbc, Activity: cnbc, Date: 2019-06-20  Authors: grace shao
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US Trade Representative Robert Lighthizer says he will meet with Chinese counterpart ahead of Trump-Xi meeting at G-20

U.S. Trade Representative Robert Lighthizer said Wednesday that he will be speaking with a Chinese official before President Donald Trump meets with Chinese President Xi Jinping at the upcoming G-20 summit. But it’s still unclear when the currently stalled trade negotiations between the two economic superpowers will restart, Lighthizer said. Talks between the U.S. and China on a new trade agreement ground to halt in May amid disagreements between negotiators — including Lighthizer’s counterpart,


U.S. Trade Representative Robert Lighthizer said Wednesday that he will be speaking with a Chinese official before President Donald Trump meets with Chinese President Xi Jinping at the upcoming G-20 summit. But it’s still unclear when the currently stalled trade negotiations between the two economic superpowers will restart, Lighthizer said. Talks between the U.S. and China on a new trade agreement ground to halt in May amid disagreements between negotiators — including Lighthizer’s counterpart,
US Trade Representative Robert Lighthizer says he will meet with Chinese counterpart ahead of Trump-Xi meeting at G-20 Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-06-19  Authors: kevin breuninger
Keywords: news, cnbc, companies, meet, robert, representative, g20, chinese, china, trumpxi, counterpart, trump, meeting, xi, tariffs, summit, president, lighthizer, trade


US Trade Representative Robert Lighthizer says he will meet with Chinese counterpart ahead of Trump-Xi meeting at G-20

U.S. Trade Representative Robert Lighthizer said Wednesday that he will be speaking with a Chinese official before President Donald Trump meets with Chinese President Xi Jinping at the upcoming G-20 summit.

But it’s still unclear when the currently stalled trade negotiations between the two economic superpowers will restart, Lighthizer said.

“I have a conversation set up with my counterpart on the telephone in the next day and a half, and then I expect to meet with him with [Treasury Secretary Steven] Mnuchin in Osaka before the president meets” with Xi, Lighthizer testified before the House Ways and Means Committee.

Trump announced in a tweet Tuesday that he would have an “extended meeting” with Xi at the summit, which is scheduled for June 28-29 in Osaka, Japan. Xi confirmed the plans to Chinese state media soon after.

Talks between the U.S. and China on a new trade agreement ground to halt in May amid disagreements between negotiators — including Lighthizer’s counterpart, Chinese Vice Premier Liu He. The U.S. alleges China reneged on prior commitments made over the course of the discussions.

“When actual negotiations begin again, I can’t say at this point,” Lighthizer told the Democrat-led committee.

“We’re talking, we’re going to meet, and, you know, we have the same objective that you and the other members have. And that is that if we can resolve these issues in a way that improves this relationship, preserves the competitive advantage of the United States, we have an obligation to do that, and hopefully we’ll get to that point,” he said.

Asked by the committee’s ranking member, Rep. Kevin Brady, R-Texas, if the U.S. would be ready to engage with China if they returned to the negotiating table, Lighthizer said, “Absolutely, we are ready to engage.”

The U.S. and China have slapped punitive tariffs on hundreds of billions of dollars of imports of each other’s goods. In May, Trump hiked tariffs on $200 billion in Chinese imports, and threatened to slap duties on another $300 billion after talks stalled out that month.

Trump said last week that he will also meet with Russian President Vladimir Putin at the G-20 summit. Xi met with Putin earlier in June, and heaped praise on the Russian leader.


Company: cnbc, Activity: cnbc, Date: 2019-06-19  Authors: kevin breuninger
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Hopes for a trade deal rise in China as Trump and Xi prepare to meet at the G-20

Chinese President Xi Jinping (L) holds a grand ceremony to welcome U.S. President Donald Trump outside the Great Hall of the People in Beijing, China on Nov. 9, 2017. BEIJING – As the presidents of U.S. and China near a highly anticipated meeting on trade, the gap in both sides’ expectations regarding a deal remains wide. Chinese President Xi Jinping broke his silence on Tuesday with state media announcing he is willing to discuss trade issues with Trump at next week’s G-20 meeting. The reports


Chinese President Xi Jinping (L) holds a grand ceremony to welcome U.S. President Donald Trump outside the Great Hall of the People in Beijing, China on Nov. 9, 2017. BEIJING – As the presidents of U.S. and China near a highly anticipated meeting on trade, the gap in both sides’ expectations regarding a deal remains wide. Chinese President Xi Jinping broke his silence on Tuesday with state media announcing he is willing to discuss trade issues with Trump at next week’s G-20 meeting. The reports
Hopes for a trade deal rise in China as Trump and Xi prepare to meet at the G-20 Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-06-19  Authors: evelyn cheng
Keywords: news, cnbc, companies, meet, rise, g20, prepare, jinping, chinese, china, sides, hopes, trump, deal, meeting, xi, tariffs, president, trade


Hopes for a trade deal rise in China as Trump and Xi prepare to meet at the G-20

Chinese President Xi Jinping (L) holds a grand ceremony to welcome U.S. President Donald Trump outside the Great Hall of the People in Beijing, China on Nov. 9, 2017.

BEIJING – As the presidents of U.S. and China near a highly anticipated meeting on trade, the gap in both sides’ expectations regarding a deal remains wide.

Analysts with ties outside China see major obstacles, notably on how both sides can come to terms over the treatment of Chinese telecom giant Huawei. But after a tumultuous few weeks of increased tough talk from Beijing, the calculus of some with ties to the Chinese government is that President Donald Trump is ready to move toward an agreement.

Chinese President Xi Jinping broke his silence on Tuesday with state media announcing he is willing to discuss trade issues with Trump at next week’s G-20 meeting. The reports came less than 20 minutes after Trump tweeted that he “had a very good telephone conversation with President Xi of China” and the two would have an “extended meeting” during the gathering.

“Xi Jinping emphasized, on the issue of trade, that both sides should resolve the problem through fair dialogue; the important thing is to protect the rational concerns of both sides,” state news agency Xinhua reported, according to a CNBC translation of the Chinese-language article. “We also hope the U.S. will fairly treat Chinese enterprises.”

U.S. and Chinese stock indexes jumped, partly in anticipation that the world’s two-largest economies will reach an agreement in the trade dispute that has lasted for over a year.

“The best we can hope for from this meeting is an agreement not to raise tariffs,” Tom Rafferty, principal economist for China at The Economist Intelligence Unit, said in a phone interview Wednesday.

The key will be finding the right language that balances U.S. and Chinese interests, he said. “The risk of this falling apart and the U.S. proceeding with tariffs is quite high.”

Warding off additional tariffs and cancelling ones applied during the last 18 months have been a priority for Beijing in the trade dispute.

Earlier this month, Trump threatened tariffs on an additional $300 billion Chinese goods if Xi didn’t attend the G-20 meeting.


Company: cnbc, Activity: cnbc, Date: 2019-06-19  Authors: evelyn cheng
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Trump says he and China’s Xi spoke, will have ‘extended meeting next week’ at G-20

President Donald Trump said Tuesday that he and Chinese President Xi Jinping “will be having an extended meeting next week at the G-20 in Japan.” Trump told Fox News’ “Fox & Friends” last week that “it doesn’t matter ” if Xi attends the G-20 or not. “If he shows up, good, if he doesn’t — in the meantime, we’re taking in billions of dollars a month [in tariffs] from China,” Trump told Fox. Trump told CNBC last week that he would immediately impose the additional $300 billion in tariffs if Xi didn


President Donald Trump said Tuesday that he and Chinese President Xi Jinping “will be having an extended meeting next week at the G-20 in Japan.” Trump told Fox News’ “Fox & Friends” last week that “it doesn’t matter ” if Xi attends the G-20 or not. “If he shows up, good, if he doesn’t — in the meantime, we’re taking in billions of dollars a month [in tariffs] from China,” Trump told Fox. Trump told CNBC last week that he would immediately impose the additional $300 billion in tariffs if Xi didn
Trump says he and China’s Xi spoke, will have ‘extended meeting next week’ at G-20 Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-06-18  Authors: kevin breuninger
Keywords: news, cnbc, companies, tariffs, trump, trade, week, extended, meeting, spoke, summit, chinas, xi, told, g20, chinese


Trump says he and China's Xi spoke, will have 'extended meeting next week' at G-20

President Donald Trump said Tuesday that he and Chinese President Xi Jinping “will be having an extended meeting next week at the G-20 in Japan.”

In a tweet, Trump said that he and Xi “had a very good telephone conversation,” and that “our respective teams will begin talks prior to our meeting.”

Chinese state media reported shortly following the announcement that Xi had agreed to meet with Trump at the summit, scheduled for June 28-29 in Osaka.

Xi said he hoped that the U.S. treats Chinese companies fairly, according to Chinese media — a possible reference to Huawei, the Chinese telecommunications giant that faces a ban because of what the U.S. calls national security issues.

China had kept mum about whether Xi would agree to a face-to-face meeting with the U.S. president at the summit while the two economic superpowers remain locked in a heated trade dispute.

Trump has said he expected that meeting to occur at the high-profile summit, but had recently downplayed the impact that it could have on forging a trade deal with Beijing. Trump told Fox News’ “Fox & Friends” last week that “it doesn’t matter ” if Xi attends the G-20 or not.

“If he shows up, good, if he doesn’t — in the meantime, we’re taking in billions of dollars a month [in tariffs] from China,” Trump told Fox.

The White House said that Trump and Xi “discussed the importance of leveling the playing field for U.S. farmers, workers, and businesses through a fair and reciprocal economic relationship” during the Tuesday morning call.

They also discussed “regional security issues,” the White House said.

Trump’s top economic advisor, Larry Kudlow, told reporters later Tuesday that the call was mostly about “scheduling a very important talk” and was not that “deep.”

The Chinese embassy in Washington did not immediately respond to CNBC’s request for comment on Trump’s tweet.

Trump and China have slapped punitive tariffs on hundreds of billions of dollars of imports of each other’s goods. In May, Trump hiked up tariffs on $200 billion in Chinese imports, and threatened to slap duties on another $300 billion after talks stalled out that month.

Trump told CNBC last week that he would immediately impose the additional $300 billion in tariffs if Xi didn’t attend the G-20 summit.

Current and former Trump administration officials and trade advisors have cautioned that a potential meeting with Xi is not likely to yield a trade agreement on its own, but could help clear the path to a deal.

Trump’s tweet came shortly before U.S. Trade Representative was scheduled to testify before the Senate Finance Committee about the president’s 2019 trade policy agenda. Lighthizer was expected to focus mainly about the trilateral trade deal to replace NAFTA, called the U.S. Mexico Canada Agreement, or USMCA, which was agreed upon by the three allied nations but has yet to make it through Congress.

But Lighthizer is likely to face questions about how the Trump administration’s next steps on the negotiations with China, where Democrats and some Republicans have harshly criticized the president’s use of tariffs.

Trump met with Xi at the prior G-20 in Buenos Aires, Argentina, last December. The two leaders discussed the trade dispute and tariffs, as well as the U.S. opioid crisis.

While that summit was in full swing, Huawei CFO Meng Wanzhou was arrested in Canada and charged in Vancouver over allegations that the company defrauded banks by concealing payments from sanctioned Iran.

–CNBC’s Tucker Higgins contributed to this report.


Company: cnbc, Activity: cnbc, Date: 2019-06-18  Authors: kevin breuninger
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As Trump demands major concessions, Beijing wants the world to think that the US will blink first

Trump on Monday threatened more tariffs on Chinese goods if Xi does not attend. Representatives from the Chinese side said Thursday they think it’s likely that Xi will go to the G-20 meeting. But in order to reach a trade deal, they emphasize, the U.S. must agree to certain conditions. Efforts to ensure that Beijing and the Trump administration will adhere to the terms of any trade deal have been a source of uncertainty on both sides. It’s hard to imagine a complete break of the United States fr


Trump on Monday threatened more tariffs on Chinese goods if Xi does not attend. Representatives from the Chinese side said Thursday they think it’s likely that Xi will go to the G-20 meeting. But in order to reach a trade deal, they emphasize, the U.S. must agree to certain conditions. Efforts to ensure that Beijing and the Trump administration will adhere to the terms of any trade deal have been a source of uncertainty on both sides. It’s hard to imagine a complete break of the United States fr
As Trump demands major concessions, Beijing wants the world to think that the US will blink first Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-06-14  Authors: evelyn cheng
Keywords: news, cnbc, companies, concessions, blink, beijing, trade, liang, xi, deal, chinas, world, major, g20, china, think, wants, chinese, trump, demands


As Trump demands major concessions, Beijing wants the world to think that the US will blink first

U.S. and Chinese flags seen at the US Department of State May 23, 2018 in Washington, DC. Brendan Smialowsk | AFP | Getty Images

BEIJING – The Chinese government is trying to convince the world that the onus is on the U.S. to resolve trade tensions between the two countries. As negotiations remain at a standstill, Beijing has yet to confirm whether Chinese President Xi Jinping will meet U.S. President Donald Trump at the G-20 meeting in Japan at the end of this month. Trump on Monday threatened more tariffs on Chinese goods if Xi does not attend. Representatives from the Chinese side said Thursday they think it’s likely that Xi will go to the G-20 meeting. But in order to reach a trade deal, they emphasize, the U.S. must agree to certain conditions. These include the cancellation of all additional tariffs; following the direction of what was agreed at the G-20 meeting in Argentina last year; and abiding by terms which China considers equal. “China’s position has been very clear and explicit. It is the U.S. who initiated the trade friction,” said Liang Ming, director of the Institute of International Trade, a research unit under the Ministry of Commerce. He was speaking in Mandarin via an official translator at a press briefing on Thursday. “Now I think China has greater confidence than the U.S. At the G-20 we could have talks, but the precondition is that the U.S. shows good faith,” Liang said. “If it continues to go backtracking on its own commitments, then we’d rather not have the talks.”

China’s in no hurry

Negotiations between the U.S. and China took a turn for the worse last month. Trump increased tariffs on $200 billion worth of goods from China, and his administration put Chinese telecom giant Huawei on an “entity list” that effectively cuts the company off from its U.S. suppliers.

The view of Chinese academics, Liang said, is that China’s economy can withstand the pressure of prolonged trade tensions, which they see are at the behest of Trump’s presidential campaign efforts. “We know that starting from the (June) 18th, President Trump will start the new round of general election campaign, and so we think he is also eager to reach a deal, ” Liang said. “But if we look at the whole situation, China is in no hurry because time is on our side.”

US must show ‘sincerity’

Since then, the Ministry of Commerce’s official line has been this: For talks to continue, the U.S. must “adjust its wrong actions” with sincerity. Liang laid out three points in which the U.S. could show such “sincerity.” First, echoing China’s Vice Premier Liu He, who is also the country’s chief trade negotiator, Liang said the U.S. must agree to cancel all additional tariffs.

Second, Liang said Beijing would like the U.S. to “significantly ease export controls on high tech export products” in order to reach demands that China increase its imports of American goods by at least $1.2 trillion.

“The third point is about a balanced text that is about expressions and wordings,” Liang said. “We don’t think there should be a lot of strong, forceful words such as ‘must’, ‘should,’ etc.” Efforts to ensure that Beijing and the Trump administration will adhere to the terms of any trade deal have been a source of uncertainty on both sides. Each country claims the other backtracked on what appeared close to a deal just weeks before talks fell apart.

It’s hard to imagine a complete break of the United States from China or of China from the United States. Xi Jinping Chinese president

In early June, China’s powerful State Council published a white paper laying the blame on the U.S. for the trade tensions. Zhu Guangyao, former vice minister of finance and an advisor to the Chinese government on trade, affirmed Thursday that China is waiting for the U.S. to agree to Beijing’s terms. He said he expects Xi will attend the G-20 meeting given a previous agreement with Japan. But he emphasized the need for multiple levels of communication and full information for progress toward any kind of deal. “Since the negotiations are so (serious), both sides are beginning to put their red lines on the table — what we can negotiate, what not,” Zhu told CNBC’s Eunice Yoon in English. “So people’s interests, national sovereignty, national dignity, certainly is the red line. No one can go beyond that.”

Beijing’s ‘core interests’

In a commentary piece published in late May, state news agency Xinhua said that U.S. demands, including restricting the development of China’s state-owned enterprises, is an attempt to damage Beijing’s “core interests.” Foreign businesses have complained of an unequal playing field with Chinese companies due to government support. In addition, there’s poor protection of intellectual property rights and forced technology transfer to China in order to operate there, they say. Beijing has made some moves to address those issues in the last several months. But for an international community watching the country since it joined the World Trade Organization in 2001, China is still moving too slowly.


Company: cnbc, Activity: cnbc, Date: 2019-06-14  Authors: evelyn cheng
Keywords: news, cnbc, companies, concessions, blink, beijing, trade, liang, xi, deal, chinas, world, major, g20, china, think, wants, chinese, trump, demands


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Cramer: Apple shares are more likely to get hurt by President Trump than by Chinese leader Xi

CNBC’s Jim Cramer says the biggest concern for Apple shareholders should be around what President Donald Trump does next in the U.S.-China trade war. “I actually think it’s more likely that President Trump hurts Apple more than” Chinese President Xi Jinping, Cramer said on “Squawk on the Street” on Wednesday. He said new tariffs on Chinese imports could really hit Apple. On Monday, Trump told to CNBC that if Xi does not attend the G-20 meeting later this month, he would pull the trigger on those


CNBC’s Jim Cramer says the biggest concern for Apple shareholders should be around what President Donald Trump does next in the U.S.-China trade war. “I actually think it’s more likely that President Trump hurts Apple more than” Chinese President Xi Jinping, Cramer said on “Squawk on the Street” on Wednesday. He said new tariffs on Chinese imports could really hit Apple. On Monday, Trump told to CNBC that if Xi does not attend the G-20 meeting later this month, he would pull the trigger on those
Cramer: Apple shares are more likely to get hurt by President Trump than by Chinese leader Xi Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-06-12  Authors: jessica bursztynsky
Keywords: news, cnbc, companies, likely, chinese, cramer, shares, president, trade, does, apple, tariffs, xi, leader, month, worth, hurt, trump


Cramer: Apple shares are more likely to get hurt by President Trump than by Chinese leader Xi

CNBC’s Jim Cramer says the biggest concern for Apple shareholders should be around what President Donald Trump does next in the U.S.-China trade war.

“I actually think it’s more likely that President Trump hurts Apple more than” Chinese President Xi Jinping, Cramer said on “Squawk on the Street” on Wednesday. He said new tariffs on Chinese imports could really hit Apple.

Trump has been threatening to place tariffs on another $300 billion worth of Chinese goods, effectively the rest of China’s imports in the United States, after increasing tariff rates last month on the $200 billion worth of Chinese goods already subject to punitive duties.

On Monday, Trump told to CNBC that if Xi does not attend the G-20 meeting later this month, he would pull the trigger on those additional tariffs.

Thus far, Apple feels that it has shielded itself from any immediate impact from the escalating U.S.-China trade and economic disputes.

“The Chinese have not targeted Apple at all, and, I don’t anticipate that happening, to be honest,” Apple CEO Tim Cook said in an interview with CBS News earlier this month. Though Cook admitted that more tariffs could eventually hurt sales, though he said he does not “anticipate it happening.”

Cramer on Wednesday encouraged investors not to sell their shares of Apple, but said he understands wanting to take profits with the stock up 10% this month and the specter of trade as an overhang.

“I do think you can own it. Don’t trade it,” the “Mad Money” host said. “But I totally understand why someone might say, ‘This has been a good run, I’m done.'”

While drifting down slightly in Wednesday afternoon trading, Apple shares on Tuesday logged a six-session winning streak.

In June, as of Tuesday’s close, the Nasdaq surged nearly 5%, while Apple stock advanced double that since the last trading day of May.

Apple, along with tech stocks broadly, were slammed in the May market rout, which saw the Nasdaq lose 8.4%, in its worst monthly performance since December.


Company: cnbc, Activity: cnbc, Date: 2019-06-12  Authors: jessica bursztynsky
Keywords: news, cnbc, companies, likely, chinese, cramer, shares, president, trade, does, apple, tariffs, xi, leader, month, worth, hurt, trump


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More China tariffs could push the US into a ‘Trump recession,’ CEO says

While the U.S. Commerce Department has granted a 90-day reprieve to Huawei, China has already been ramping up development of its own semiconductor industry — which could ultimately hurt the profits of U.S. companies. The blacklisting of Huawei will not only push China to become more closed off to the rest of the world, but will also hinder the United States’ ability to maintain “world leadership” in the technology market, Shapiro said. “We have these great American chip companies ready to sell t


While the U.S. Commerce Department has granted a 90-day reprieve to Huawei, China has already been ramping up development of its own semiconductor industry — which could ultimately hurt the profits of U.S. companies. The blacklisting of Huawei will not only push China to become more closed off to the rest of the world, but will also hinder the United States’ ability to maintain “world leadership” in the technology market, Shapiro said. “We have these great American chip companies ready to sell t
More China tariffs could push the US into a ‘Trump recession,’ CEO says Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-06-11  Authors: shirley tay
Keywords: news, cnbc, companies, trump, world, china, companies, xi, push, ceo, united, states, shapiro, recession, president, tariffs, huawei


More China tariffs could push the US into a 'Trump recession,' CEO says

Trump on Monday renewed his tariff threats on China after Myron Brilliant, the head of international affairs at the U.S. Chamber of Commerce, told CNBC that Trump’s “weaponization of tariffs” hurts the U.S. economy and “creates uncertainty” with trading partners. Trump confirmed that an additional raft of levies will be slapped on Beijing if Chinese President Xi Jinping does not show up at the G-20 meeting in Japan — an event investors and economists will be watching for signs of a breakthrough in the trade impasse.

Huawei dispute could ‘escalate out of control’

The current tensions between the U.S. and China appeared to reach a new height when Washington placed Huawei on a U.S. entity list in May, limiting the Chinese telecom giant’s ability to purchase goods from American firms. While the U.S. Commerce Department has granted a 90-day reprieve to Huawei, China has already been ramping up development of its own semiconductor industry — which could ultimately hurt the profits of U.S. companies. According to Shapiro, restrictive measures in the tech space could escalate “out of control” and cause both consumers and U.S. chip companies to be “trampled.” The blacklisting of Huawei will not only push China to become more closed off to the rest of the world, but will also hinder the United States’ ability to maintain “world leadership” in the technology market, Shapiro said. “We have these great American chip companies ready to sell to all around the world,” he said. “And the fact is, I think the U.S. policy may be really pushing China to do everything by itself, and not only put up walls around China, but we’re putting up an economic fence around the United States.” If the U.S. wants to advance “and be innovative, maintain world leadership, we have to be out there in the world marketplace,” he added.

President Donald Trump speaks during a press conference with China’s President Xi Jinping at the Great Hall of the People in Beijing on November 9, 2017. Nicholas Asfouri | AFP | Getty Images

Tech bifurcation possible


Company: cnbc, Activity: cnbc, Date: 2019-06-11  Authors: shirley tay
Keywords: news, cnbc, companies, trump, world, china, companies, xi, push, ceo, united, states, shapiro, recession, president, tariffs, huawei


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Dow futures slightly higher despite Trump’s warning on China tariffs

U.S. stock index futures were slightly higher Tuesday morning despite comments from President Donald Trump on trade war with China. ET, Dow futures rose 45 points, indicating a positive open of more than 59 points. Futures of S&P and Nasdaq were also seen slightly higher. President Donald Trump told CNBC on Monday that if Chinese President Xi Jinping does not attend the G-20 meeting later this month, there will be additional duties on Chinese goods. This would take effect immediately.


U.S. stock index futures were slightly higher Tuesday morning despite comments from President Donald Trump on trade war with China. ET, Dow futures rose 45 points, indicating a positive open of more than 59 points. Futures of S&P and Nasdaq were also seen slightly higher. President Donald Trump told CNBC on Monday that if Chinese President Xi Jinping does not attend the G-20 meeting later this month, there will be additional duties on Chinese goods. This would take effect immediately.
Dow futures slightly higher despite Trump’s warning on China tariffs Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-06-11  Authors: silvia amaro
Keywords: news, cnbc, companies, futures, donald, trumps, trump, chinese, china, xi, warning, war, higher, points, dow, despite, slightly, president, tariffs, trade


Dow futures slightly higher despite Trump's warning on China tariffs

U.S. stock index futures were slightly higher Tuesday morning despite comments from President Donald Trump on trade war with China.

At around 01:36 a.m. ET, Dow futures rose 45 points, indicating a positive open of more than 59 points. Futures of S&P and Nasdaq were also seen slightly higher.

President Donald Trump told CNBC on Monday that if Chinese President Xi Jinping does not attend the G-20 meeting later this month, there will be additional duties on Chinese goods. This would take effect immediately.


Company: cnbc, Activity: cnbc, Date: 2019-06-11  Authors: silvia amaro
Keywords: news, cnbc, companies, futures, donald, trumps, trump, chinese, china, xi, warning, war, higher, points, dow, despite, slightly, president, tariffs, trade


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