Price wars versus trade wars: Markets work just fine when we leave them alone September 21, 2018 David Lewis is ramping up a food fight of epic proportions. The chief executive of Tesco has launched a spin-off chain of discount supermarkets called Jack’s (named after Tesco’s founder Jack Cohen). The aim is to become more competitive with German chains Aldi and Lidl, which have been saturating the market with cheaper products since [...]
Trump slams Opec, urging oil cartel to ‘get prices down now’ September 20, 2018 Donald Trump has slammed the Opec and urged the cartel to “get prices down”, citing the protection the US provides for countries in the Middle East. Trump has urged Saudi Arabia to increase oil production in recent months to combat higher oil prices brought about by his own sanctions on Iran. He has also previously [...]
US-China trade war: Alibaba founder Jack Ma breaks 1m US jobs pledge September 20, 2018 Alibaba boss Jack Ma no longer believes his retail giant can create 1m US jobs, blaming America’s ongoing trade war with China. "The promise was made on the premise of friendly US-China partnership and rational trade relations," Ma said. "That premise no longer exists today, so our promise cannot be fulfilled,” he told Chinese news [...]
Britain can’t escape a global trade war – so we have to stop it September 20, 2018 The first casualty of war, it is said, is truth. The first casualty of the current US-China trade war was Mid-Continent Nail – America’s largest nail producer – which is in a state (Missouri) that overwhelmingly voted for Donald Trump, and has already had to lay off a third of its workforce. The problem is [...]
Britain and the US can show the world what a free trade deal should like September 19, 2018 Now might seem an odd time to be considering new free trade deals with the US, when President Donald Trump has just escalated his trade war with China by imposing new tariffs on $200bn worth of goods. The UK, meanwhile, is still focused on resolving the uncertainty surrounding its future trading relationship with the EU. [...]
Tit-for-tat Trump tariffs to take trans-Pacific trade toll September 18, 2018 The trade war between the US and China escalated today as the world’s two largest economies imposed tit-for-tat tariffs on goods worth hundreds of billions of dollars. The Chinese commerce ministry said it had to retaliate against America's decision to levy 10 per cent tariffs on $200bn (£150bn) worth of Chinese goods from 24 September [...]
China says it has ‘no choice’ but to retaliate to new wave of US tariffs September 18, 2018 China today said it has "no choice" but to retaliate to against America's decision to levy 10 per cent tariffs on $200bn (£150bn) worth of Chinese goods. The commerce industry said in a statement to Reuters that China would respond to the US action "to protect its legitimate rights and interests and order in international free trade". Read more: [...]
Tech stocks hit as Trump mulls fresh $200bn tariffs on China September 18, 2018 The Trump administration late last night ratcheted up its trade war with China by imposing tariffs on $200bn (£152bn) more of the world’s second largest economy’s goods starting next week. The tariffs will start at 10 per cent, rising to 25 per cent on 1 January, allowing US companies some time to adjust their supply [...]
Fiddling while America burns? Trump is today’s emperor Nero September 17, 2018 America was ablaze this summer. At one point in August, there were more than a hundred major active wildfires burning, as global temperatures soared to record highs. Meanwhile, the US President was rolling back climate regulations and undermining international efforts to slow down global warming. Donald Trump, claimed former Obama adviser David Axelrod, “is literally [...]
Trump reportedly set to announce new tariffs on China September 16, 2018 US President Donald Trump is preparing to announce new tariffs on imports from China worth $200bn (£153bn), according to reports. Tariffs of around 10 per cent will be imposed on electronic goods such as internet technology products, printed circuit boards, and other electronics, the Wall Street Journal reported, citing White House sources. A decision could [...]