Föhrenbergkreis Finanzwirtschaft

Unkonventionelle Lösungen für eine zukunftsfähige Gesellschaft

Posts Tagged ‘Tariffs’

China Threatens Retaliation as U.S. Files Paperwork to Raise Tariffs

Posted by hkarner - 10. Mai 2019

Date: 09-05-2019
Source: The Wall Street Journal

Filing formalizes threat made by President Trump and U.S. Trade Representative amid trade talks with Beijing

WASHINGTON—The U.S. Trade Representative’s office filed paperwork to formally raise tariffs to 25% from 10% on about $200 billion a year of Chinese imports effective on Friday, carrying through on a threat made by President Trump over the weekend as talks with Beijing deteriorated.

China responded Wednesday by saying it will retaliate if the U.S. moves forward.

“The escalation of trade friction is not in the interest of the people of the two countries and the people of the world,” a Chinese Commerce Ministry spokesman said via the official Xinhua News Agency. “The Chinese side deeply regrets the action. If the U.S. tariff measures are implemented, China will have to take necessary countermeasures.” Den Rest des Beitrags lesen »

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White House Ratchets Up Trade Fight

Posted by hkarner - 8. Mai 2019

Date: 07-05-2019
Source: The Wall Street Journal

U.S. trade representative says U.S. to raise tariffs to 25% on $200 billion in Chinese goods

WASHINGTON—Prospects for a speedy conclusion to the U.S.-China trade fight dimmed Monday after U.S. officials accused Beijing of reneging on its promises and vowed to implement President Trump’s threat to raise tariffs quickly on Chinese imports.

“Over the course of the last week or so, we’ve seen an erosion in commitments by China, I would say retreating from commitments that have already been made, in our judgment,” said U.S. Trade Representative Robert Lighthizer, declaring tariffs on $200 billion in Chinese imports would rise to 25% starting Friday.

The comments from Mr. Lighthizer, who was joined by Treasury Secretary Steven Mnuchin, followed tweets from President Trump on Sunday that accused China of trying to “renegotiate” and threatened to expand tariffs to cover nearly everything the U.S. imports from China. Den Rest des Beitrags lesen »

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EU Prepares Tariffs Against U.S. Amid WTO Battle

Posted by hkarner - 14. April 2019

Date: 13-04-2019
Source: The Wall Street Journal

EU, U.S. nearing the end of a battle over plane-maker subsidies after 15 years of WTO litigation

BRUSSELS—The European Union is preparing tariffs on $12 billion of U.S. products over subsidies to Boeing Co., raising the stakes on the Trump administration’s plan for punishing the EU’s support to rival plane maker Airbus SE .

Europe’s move came after a U.S. said on Monday it intended to impose tariffs on $11.2 billion of imports from the EU. Brussels’s swift response highlights its resolve to go blow-for-blow with Washington over the matter.

Both are salvos in the two sides’ long-running fight at the World Trade Organization over government subsidies to the jet makers, which dominate the large commercial airplane market. Both the U.S. and EU are starting the process to impose the tariffs, but essentially are staking out what they believe is the appropriate penalty for the other’s trade transgressions. Den Rest des Beitrags lesen »

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Von Flugzeug bis Wein: USA drohen der EU mit Vergeltungszöllen

Posted by hkarner - 10. April 2019

9. April 2019, 12:28 derstandard.at

Im Streit über illegale Subventionen für ihre jeweiligen Flugzeugbauer drohen die USA mit weiteren Zöllen

San Francisco/Toulouse/Washington – Im Streit über die Beihilfen für ihre jeweiligen Flugzeugbauer legen die USA nach und gehen wegen der Subventionen für den europäischen Flugzeugbauer Airbus auf Konfrontationskurs mit der Europäischen Union. Und das wenige Tage, nachdem die in Genf ansässige WTO letztinstanzlich festgestellt hat, dass auch der US-Flugzeugbauer Boeing illegale Subventionen vom Staat erhalten hat. Im Fall des Flugzeugbauers Airbus, an dem Frankreich, Deutschland, Spanien und Großbritannien beteiligt sind, fiel das endgültige Urteil im Vorjahr. Im Fall von Boeing stand das Langstreckenflugzeug Boeing 787. Die EU hat eine illegale Förderung durch staatliche Stellen moniert, zum Beispiel Gelder der Weltraumbehörde Nasa, die in Forschung und Entwicklung von Boeing in Seattle geflossen sind, oder Steuervergünstigungen, die die US-Regierung dem Unternehmen gewährt hat.

Vergeltung

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How Are Those Steel Tariffs Working?

Posted by hkarner - 19. März 2019

Date: 18-03-2019
Source: The Wall Street Journal By The Editorial Board

Let’s look at the evidence a year later in jobs and trade flows.

President Trump declared steel imports a national security threat last March and vowed to fight the metallic menace with a 25% tariff. As the President mulls a new tariff on European cars, it’s worth examining how his steel tariff policy is faring a year later by the standards of its own professed protectionist goals.

• Trade deficit. “We need and we will get lower trade deficits, and we will stop exporting jobs and start exporting more products instead,” Commerce Secretary Wilbur Ross said last March after the President announced his steel tariffs. We disagree with the President’s preoccupation with trade deficits, which are affected more by capital flows and currency values than trade policy. Den Rest des Beitrags lesen »

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Why Trump’s Effort to Narrow the Trade Gap Has Flopped So Far

Posted by hkarner - 4. März 2019

Date: 03-03-2019
Source: The Wall Street Journal

The president’s tax policies are as much in play as tariffs

President Trump set his sights on reducing mammoth U.S. trade deficits. In the coming week, the Census Bureau will likely report the U.S. last year registered the largest trade deficit in its history.

How that happened is a lesson in the economics of imbalances. In this case, the president’s tax policies were as much in play as his trade policies. Large fiscal deficits had the side effect of enabling businesses and consumers to purchase more goods from abroad, driving down overall U.S. saving and driving up the trade imbalance.

“The evolution of the trade balance over Trump’s first two years is a good illustration of the basic principles that led most economists to predict the trade deficit would continue to widen with Trump’s policies,” said Brad Setser, a senior fellow at the Council on Foreign Relations. Den Rest des Beitrags lesen »

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Harley-Davidson brought low by tariffs and demographics

Posted by hkarner - 5. Februar 2019

Date: 02-02-2019
Source: The Economist

Sales keep plunging in the home market

Atour of the modernist building of the Harley-Davidson museum in Milwaukee helps to explain why the midwestern maker of motorcycles has iconic status, but also why it is struggling. Nearly all the visitors are white, middle-aged men, some clad in leather and heavily tattooed, others dressed conservatively. Harley is the quintessential baby-boomer brand but its customers are slowing down.

The firm has been losing sales at home for eight consecutive quarters with the latest being no exception. Sales in America plunged by a tenth in the three months ending at the end of December compared with the same period a year earlier, it said this week. The total cost of tariffs (those imposed specifically on its bikes by the European Union and China, and also those levied by America on imports of steel and aluminium, its main materials), together with restructuring costs, wiped out its profits.

The 116-year-old business has been through tough times before. It almost went under in 1981 when America was in recession and Japanese makers of motorcycles dumped unsold inventory onto the American market at extremely low prices. Then a group of employees bought the company, persuaded the government to impose tariffs on Japanese bikes, improved the quality of its wares and returned to the heavy retro look of the 1940s. That did the trick for baby boomers who flocked in droves to the expensive toys cleverly marketed as a symbol of freedom, individualism and adventure on America’s scenic roads. Den Rest des Beitrags lesen »

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The Xi Jinping Slowdown

Posted by hkarner - 23. Januar 2019

Date: 22-01-2019
Source: The Wall Street Journal By The Editorial Board

China’s weakest growth in 30 years shows the logic of a trade deal.

China’s President Xi Jinping

The logic behind a U.S.-China trade deal grew even more persuasive with Monday’s report that the Chinese economy grew by 6.6% last year, its slowest rate since 1990.

Fourth-quarter growth was even slower at 6.4%, and the real growth rate may be lower still given the unreliability of China’s official statistics. Cement production is down, business confidence is faltering, the unemployment rate ticked up to 4.9%, and consumer spending has weakened.

President Trump’s tariffs are only part of the economic explanation. Chinese President Xi Jinping’s decision to slow the pace of economic reform has made the economy more vulnerable to such an outside shock. China’s growth has been built in part on dangerous levels of debt, an unsustainable internal migration from poor rural areas to cities, and state-owned enterprises that distort business decisions to goose official GDP data. Den Rest des Beitrags lesen »

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Währungsfonds: Staaten schlecht für Krise gewappnet

Posted by hkarner - 12. Dezember 2018

11. Dezember 2018, 13:40 derstandard.at

Das größte Risiko für die Weltwirtschaft sei der Handelskonflikt zwischen den USA und China

London – Regierungen und Notenbanken sind laut dem Internationalen Währungsfonds (IWF) für eine Krise womöglich nicht ausreichend gewappnet. IWF-Vizechef David Lipton warnte am Dienstag auf einer Bankenkonferenz in London, es zögen Sturmwolken über der Weltwirtschaft auf. Das größte Risiko sei der Handelskonflikt zwischen den USA und China. Der zwischen beiden Seiten vereinbarte Burgfriede müsse dauerhaft gemacht werden, ansonsten könne die Weltwirtschaft in einen Abschwung geraten.

Der Fonds habe während der konjunkturellen Schönwetterperiode immer wieder gemahnt, das Dach wetterfest zu machen: „Doch ich fürchte: Die Arbeit an der Krisenprävention ist unvollständig.“ Auch die Währungshüter könnten neuen Belastungen ausgesetzt werden. Letztlich sei es möglich, dass sie wieder unorthodoxe Maßnahmen als Antwort auf neue Herausforderungen entwickeln müssten: „Doch weil deren Wirksamkeit unsicher ist, sollten wir über die Möglichkeiten der Geldpolitik beunruhigt sein“, so Lipton. Während die US-Notenbank Federal Reserve (Fed) auf ihre heuer vierte Zinserhöhung zusteuert, will die EZB einen Schritt weg von der Krisenpolitik unternehmen und ihre bisher rund 2,6 Billionen Euro schweren Anleihenkäufe zum Jahresende auslaufen lassen. (APA, Reuters, 11.12.2018) – derstandard.at/2000093680416/Waehrungsfonds-warnt-vor-Konjunktur-Sturmwolken

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European Threats

Posted by hkarner - 10. Dezember 2018

December 7, 2018

Someone asked recently how many times I had “crossed the pond” to Europe. I really don’t know. Certainly dozens of times. It’s been several times a year for as long as I remember.

That makes me an extremely unusual American. Most of us never visit Europe, except maybe for a rare dream vacation. And that’s okay because our own country is wonderful and has a lifetime of sights to see. But it does affect our perspective on the world. Many of us don’t fully grasp how important Europe is to the US and global economy.

We may soon get a lesson on that. I’ve talked about Italy’s ongoing debt crisis, which is not improving, but Europe has other problems, too. Worse, events are coalescing such that several potential crises—all major on their own—could strike at the same time, and not too long from now. As I’ve been saying for about three years, there is no reason for the US to have a recession on its own. I think events elsewhere will push us into it, and Europe is a really big current risk. I know from my visits to Europe and discussions with friends there, they see all sorts of problems with Trump and particularly his tariffs.

However, another concern is that the various actors in Europe are not playing nice with each other. I tell my European friends the same forces that yielded Trump are coming to a European country near them. In some places, they already have. Den Rest des Beitrags lesen »

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