China’s Ministry of Commerce engaged in discussions with Walmart (WMT, Financials) regarding the company’s reported request for price reductions from Chinese suppliers in response to new U.S. tariffs, multiple media outlets reported. Reports from Chinese state media indicate that Walmart reportedly pushed producers of kitchenware and apparel as well as other suppliers to cut prices…
BEIJING (AP) — China on Saturday announced retaliatory tariffs on some Canadian farm and food imports, after Canada imposed duties in October on Chinese-made electric vehicles and steel and aluminum products. The new duties become effective March 20, according to a statement by the Customs Tariff Commission of the State Council. Additional 100% tariffs will…
(Bloomberg) — Asian stocks are poised for hefty losses throughout the region, dragged by a poor session on Wall Street and the Trump administration’s latest moves to curb US trade with China. Most Read from Bloomberg Shares in Australia opened lower, while futures are pointing to Hong Kong and Tokyo benchmarks falling around 2% at…
US stocks moved higher on Tuesday as investors assessed China’s instant retaliation to US President Donald Trump’s additional tariffs amid worries about the risk of a trade war. Traders also took in fresh jobs data, with job openings declining more than expected in December. Investors are continuing to watch any signs of cooling in the…
US stock futures slipped on Tuesday as investors assessed China’s instant retaliation to US President Donald Trump’s additional tariffs, amid worries about the risk of a trade war. Contracts on the Dow Jones Industrial Average (YM=F) and the S&P 500 (ES=F) both edged down roughly 0.2%. Futures on the tech-heavy Nasdaq 100 (NQ=F) were broadly…
By David Lawder WASHINGTON (Reuters) – President Donald Trump’s new tariff orders against Canada, Mexico and China all contain clauses suspending a duty-free exemption for low-value shipments below $800 that is widely seen as a loophole that has allowed shipments of fentanyl and its precursor chemicals into the United States. Staunching that flow was a…
By Casey Hall SHANGHAI (Reuters) – More than half of the American businesses in China, the highest level in five years, say they are concerned about a further deterioration in the bilateral relationship between the world’s two largest economies, a survey published on Thursday shows. The annual survey by the American Chamber of Commerce (AmCham)…
DAVOS, SWITZERLAND — Even a 25% tariff on China would hurt iconic retailer Ralph Lauren (RL). “It’s a pressure point. But again, I think we can work through it, and we can manage it. I think we’ve lived with tariffs already. It’s not a new concept and we’ve been able to navigate it,” Ralph Lauren…
Williams-Sonoma (WSM) CEO Laura Alber hasn’t waited for President Trump to enact more tariffs on China. She has taken action and could take more action in the years ahead. “In the first Trump administration, we saw the first wave of tariffs, and we reduced our China exposure by 50%,” Alber told Yahoo Finance at the…
Who is Huohuade Lutenike? The Chinese rendering of Howard Lutnick, the billionaire nominee to lead America’s commerce department, is not well known in China. But he may end up shaping America’s trade policies. Since Donald Trump announced his pick, Chinese investors and policy-watchers have scrambled for information. More than anything they want to know if…