Economy

Asian shares on slippery slope as Trump ups ante in trade war

Asian shares on slippery slope as Trump ups ante in trade war”

Ford didn't move production of the Focus to China by accident; it did so because the USA market has shifted away from smaller vehicles toward SUVs, which has made production of the Focus in the US -a relatively expensive location-an illogical choice.

There was some relief earlier Friday that Trump did not immediately impose levies on $200 billion of Chinese goods after the passing of a deadline for a public consultation. Citing Trump's new tariffs, Ford on August 31 said it was dropping plans to ship the Focus Active from China to America.

Traders were bracing for a potential escalation in the Sino-U.S. tariff row after U.S. President Donald Trump raised the stakes in the dispute on Friday.

Ford Motor Company on Sunday pushed back against President TrumpDonald John TrumpTiger Woods calls Nike's Kaepernick campaign a "beautiful spot" EPA lost more than 1,500 workers in first 18 months of Trump administration: report Trump: Races that GOP was not thinking about winning "are now very close" MORE's claim that it can build a China-made hatchback model in the USA after it scrapped plans to sell it domestically because of the president's tariffs.

Trump previously has claimed that Apple is building new plants in the United States, but the iPhone maker has not announced any such plans.

On currency markets the strong USA jobs report added to expectations the Federal Reserve will hike interest rates at least two more times this year, putting further upward pressure on the dollar.

Another factor weighing on global markets is the prospect of faster rate rises by the Federal Reserve after data on Friday showed US job growth accelerated in August and wages notched their largest annual increase in more than nine years.

The strong employment report boosted the dollar, which held on to Friday's gains at 95.43. It's not a seller's market, but it's also not a buyer's market.

Chinese shares were battered with the blue-chip index off 1.4 percent.

"Trade uncertainty remains a significant concern for future business investment plans".

Market prices are reflected in a glass window at the Tokyo Stock Exchange (TSE) in Tokyo, Japan, February 6, 2018.

The Australian dollar, a proxy for Chinese growth because of the large amount of metals it sells there, hovered near its lowest in 2 1/2 years and was last at $0.7115. USA crude futures were up 44 cents at $68.20 per barrel and Brent crude futures added 52 cents to $77.35 a barrel. Brent crude futures added 52 cents to $77.35 a barrel. Spot gold was lower at $1,193.01.



Like this

loading...
loading...

Latest


10 September 2018
Latest iPhone Leak Reveals Possible Prices And Names
The report pegged iPhone Xs Plus will have a price of $1,049, while iPhone XS will be at the $999. One more thing: the new iPhones - or at least one of them - could also support the Apple Pencil .

10 September 2018
Obama: US Government 'Not for Sale'
The speech was "something different", said Esther Castaneda, 34, a small business owner from Orange, California. But "it did not start with Donald Trump ", he said.

10 September 2018
Two British tourists among seven people injured in Paris knife attack
Seven people were wounded late Sunday in France, after a man allegedly attacked them with a knife, according to multiple reports . Evidence is shown on the street in downtown Paris where seven people were wounded in a knife attack on September 10, 2018.

10 September 2018
Coalition Conducts Defeat-ISIS Exercise in Eastern Syria
Al Tanf is home to a U.S military outpost where USA forces train local anti-ISIS partners. Defence Secretary Jim Mattis said, adding that the facts did not back Russian assertions.

10 September 2018
College of Ozark Drops Nike, Amid New Ad Campaign
The "Just Do It" rebrand kicked off this week when Kaepernick posted the image of himself on his Twitter feed. Nike released its new "Just Do It" campaign on Monday last week.

10 September 2018
Packers’ Aaron Rodgers injured, leaves games on cart
After running 19 plays for 146 yards in the first quarter, the Bears managed just six yards on 10 plays in the second quarter. He was nearly ideal over the final 30 minutes, completing 17 passes for 273 yards and three scores in the second half.

10 September 2018
CBS CEO Les Moonves Accused of Sex Crimes, Violence By More Women
The Time's Up advocacy group issued a statement on Thursday blasting CBS for considering such a sum in light of the allegations. The head of USA media giant CBS , Les Moonves , has resigned with immediate effect after allegations of sexual misconduct.

10 September 2018
Ex-Trump campaign adviser sentenced to 14 days in prison
Under his plea deal with prosecutors, Papadopoulos faced zero to six months imprisonment. His lawyers said he was "young" and lied out of "misguided loyalty to his master".

10 September 2018
China's trade surplus with U.S. hit new record in August
President Trump tweeted on Saturday that Apple should manufacture its products in the United States , instead of China . At the same time, Apple is already using components sourced from US manufacturers in some of its products.

10 September 2018
Naomi Osaka wins US Open after Serena ´umpire thief´ meltdown
As she sat in her chair during the changeover, Williams demanded an apology from Ramos for accusing of her cheating. Williams received a second violation when she smashed her racket in frustration.