White House: Trade Agreement with China Not Close

by Ken Bredemeier   White House economic adviser Larry Kudlow said Sunday resumption of trade talks between the U.S. and China “is a very big deal,” but acknowledged there is no immediate prospect for an agreement between the world’s two largest economies. “The talks will go on for quite some time,”…

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US-China Trade Dispute Triggering Production Exodus

by Joyce Huang   U.S. tech giant Apple has reportedly asked its major suppliers, mainly China-based manufacturers from Taiwan, to consider moving 15 to 30% of their production outside of China to avoid higher tariffs imposed on U.S.-bound exports. The production migration, which analysts say is already ongoing,will hurt the…

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India Hikes Tariffs on U.S. Goods Amid Deepening Trade Friction

  India has hiked tariffs on 28 goods imported from the United States as a trade spat between the two countries intensifies. The retaliatory move came days after Washington removed New Delhi from a list of countries that have preferential access to its market. “India has put its cards on…

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May Jobs Report: 75,000 Jobs Added, Unemployment Remains at 3.6 Percent

by Mary Margaret Olohan   The U.S. economy added 75,000 jobs in May, while the unemployment rate remained at 3.6 percent, according to Department of Labor data released Friday. Economists predicted 180,000 jobs would be added and that wage growth would rise to about 3.2%, according to The Wall Street…

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Experts: Tariffs in the Offing for India as President Trump Wages War on ‘Unfair Trade’

by Michael Bastach   The Trump administration’s decision to rescind trade preferences with India could be a sign that more tariffs are on the horizon, experts say. U.S. trade officials announced Friday the end of special trade treatment on $6 billion worth of goods from India because the country has “not assured…

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China, Tariffs, Trade, Cost and Prices: An Explainer

by Rick Manning   Stock markets go up and down based upon the latest trade rumors. Predictions of price hikes make headlines, yet the inflation rate remains at the levels, 2.0 percent at last count, desired by the Federal Reserve. What is going on?  And is this even really a trade war with…

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Commentary: The Win-Win Scenario of Further ‘Retaliation’ by China

by Robert Romano   On May 10, the South China Morning Post published a report, “Will China use its US$1.2 trillion of US debt as firepower to fight the trade war?” speculating that China might have potential leverage against the U.S. after President Donald Trump levied 25 percent tariffs on a total…

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US Adds Robust 263K Jobs; Unemployment at 49-Year Low

  U.S. employers added a robust 263,000 jobs in April, suggesting that businesses have shrugged off earlier concerns that the economy might slow this year and anticipate strong customer demand. The unemployment rate fell to a five-decade low of 3.6% from 3.8%, though that drop partly reflected an increase in…

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Lawmakers Eye a Huge Backdoor Spending Increase

US Capitol

by David Ditch   Members of Congress are promoting the concept of changing three programs from the discretionary category (requiring annual appropriations) into mandatory (auto-pilot) spending. Such changes would become a huge backdoor spending increase. Spending limits have come under relentless attack from both parties. In 2013, 2015, and 2018,…

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Despite Further Talks, No US-China Deal Yet

President Trump and the vice premier of China confirmed on Thursday that while significant progress has been made, there is no new trade agreement yet between the world’s two largest economies. “We’re certainly getting a lot closer,” Trump said sitting at his desk in the Oval Office with Chinese Vice…

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