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 [...]
Tariffs are just the first shot in the looming US-China war May 13, 2019 As a friend of mine who works in higher maths put it: “John, if America as an integer is present in every major foreign policy equation, and if after 75 years that integer radically changes, then everything changes”. Donald Trump’s America is that rarest of beasts: the strongest global power distrustful of the very global order [...]
US made ‘fundamental misjudgement’ over tariff increases, says Chinese state newspaper May 12, 2019 The US made “a fundamental misjudgement” by ratcheting up tariffs on $200bn (£154bn) of Chinese goods and has “seriously underestimated China's endurance,” according to an editorial article published today by the Global Times, a government-aligned Chinese tabloid newspaper. Read more: China threatens retaliation as Trump rolls out $200bn tariff hike China’s size means that the [...]
Mr Congeniality: Trump says $200bn China tariffs are better than a ‘phenomenal’ trade deal May 10, 2019 US President Donald Trump has issued an impassioned defence of his tariff hike on $200bn worth of Chinese goods, saying they will bring in more wealth than “even a phenomenal” trade deal. Read more: China threatens retaliation as Trump rolls out $200bn tariff hike In a series of tweets, Trump said talks with China were [...]
US-China trade war: China threatens retaliation as Trump rolls out $200bn tariff hike May 10, 2019 China has warned it will strike back at the US after President Donald Trump’s tariff hike on Chinese goods came into force today. China’s commerce ministry said it “deeply regrets” the move, which sees tariffs raised to 25 per cent on goods worth $200bn (£154bn), and said it would take necessary countermeasures. Read more: US-China [...]
US-China trade deficit falls ahead of crunch negotiations May 9, 2019 The US’s trade deficit in goods and services with China decreased in March, in news that will cheer the Trump administration as it prepares to ramp up tariffs on its largest trading partner. Read more: Global markets in tailspin after Trump threatens huge China tariff rise The country's deficit with the rest of the world [...]
Huawei CFO hopes to avoid US extradition after Trump’s ‘corrosive’ comments May 9, 2019 Lawyers for Huawei’s chief financial officer have said she will seek a stay of extradition, citing a string of civil rights abuses including comments made by US President Donald Trump about the case. Meng Wanzhou, who is the daughter of Huawei founder Reng Zengfei, was arrested in Vancouver in December on allegations relating to the [...]
We must not attempt to bring the failed Iran Deal back to life May 9, 2019 The Joint Comprehensive Plan of Action (JCPOA), signed in a fanfare of publicity in 2015 between Iran and six countries, was hailed at the time as the way to curtail Iran’s nuclear ambitions. In exchange for suspending its nuclear programme, Iran would secure massive sanctions relief. The world would be free from the menace of [...]