US stocks fall as industrial sector contracts for third time in four months May 15, 2019 US industrial production unexpectedly fell for the third time in four months in news that will displease the Trump administration as it wages a trade war on China. Read more: European markets back in red following weak Chinese data Industrial production fell 0.5 percent in April, meaning output declined at an annual rate of 1.9 per [...]
Huawei snaps up top Sky News journalist as senior spin doctor May 15, 2019 Embattled Chinese tech firm Huawei has hired a veteran Sky News journalist as its new senior spin doctor as it ramps up efforts to quash accusations of spying. Senior Sky News editor Paul Harrison, who previously served as the network’s royal and business correspondent, has said he will join Huawei in a senior communications role [...]
European markets back in red as China shows signs of hurting under trade war May 15, 2019 European stocks have fallen after opening higher this morning, as weaker-than-expected Chinese economic data hinted at the effects of the US-China trade war. Read more: China retaliates with tariffs on $60bn of US goods Official figures today showed China’s industrial output growth slowing to 5.4 per cent year-on-year in April, a worse-than-predicted figure and much [...]
Trump set to sign executive order rolling out US ban on Huawei May 15, 2019 US President Donald Trump is expected to sign an executive order this week that will set in motion the country’s ban on Chinese tech firm Huawei. Trump is set to sign a long-discussed executive order preventing US companies from using telecoms equipment made by firms that pose a national security risk, Reuters reported, citing three [...]
While the US and China sneeze, London too risks catching a cold May 15, 2019 The trade dispute between China and the US has escalated. After Donald Trump tweeted that he was imposing higher tariffs on $200bn of Chinese imports to the US, China predictably retaliated, announcing on Monday that it would impose a further $60bn of tariffs on US goods coming into the country. Much attention has been paid [...]
MPs will vote again on Brexit next month – despite no deal between Tories and Labour May 14, 2019 Theresa May will attempt to force her Brexit deal through parliament for the fourth time of asking next month – despite not yet reaching an agreement with Labour. Downing Street has revealed May will put forward the legislation needed for the UK to leave the EU in the week commencing 3 June. The announcement came after May met [...]
DEBATE: Is it possible for Donald Trump to ‘win’ the trade war with China? May 14, 2019 Is it possible for Donald Trump to ‘win’ the trade war with China? Dr John Hemmings, director of the Asia Studies Centre at the Henry Jackson Society, says YES. While many people blame Donald Trump’s “America First” policy for the trade war, it’s likely that Hillary Clinton would have done the same, since Beijing’s leadership has [...]
Economists are united about Trump’s trade folly May 14, 2019 In George Bernard Shaw’s words, if all the economists were laid end to end, they’d never reach a conclusion. Scour the pool of practitioners of the dismal science, and you will find supporters and detractors for almost every economic theory, from free markets to socialism. The one exception, however, is protectionism. Whether from the left [...]
Economists pour cold water on Trump’s tariff arguments May 13, 2019 Economists have said US President Donald Trump’s argument that American consumers will not face higher prices after tariff increases shows “a fundamental misunderstanding of how tariffs work”. Read more: China retaliates with tariffs on $60bn of US goods Trump tweeted today: “Their [sic] is no reason for the U.S. Consumer to pay the Tariffs, which take [...]
US-China trade war: China retaliates with tariffs on $60bn of goods following US levy hike May 13, 2019 China’s ministry of finance has announced that it will place tariffs of between five and 25 per cent on $60bn worth of US goods in retaliation for America’s more significant duty increases. Read more: European markets take a hit over US-China trade war escalation It will target around 5,000 US goods from 1 June, the [...]