Looming Trade War with China

How Donald Trump's China trade war affects you

President Donald Trump on Wednesday said the United States was "not in a trade war with China" because such a war had already been lost by past U.S. leaders.

What happens next? Maybe everyone will sit down, work out their differences and achieve a new era of peace and harmony in U.S.

China will levy 25 percent tariffs on imports of 106 US products, with USA farmers, plane- and automakers likely to bear the brunt.

After a big early loss, USA crude dipped 14 cents to $63.37 a barrel in NY while Brent crude, used to price worldwide oils, fell 9 cents to $68.03 a barrel in London.

The U.S. market had taken heart overnight from bets that President Donald Trump's Twitter attacks on online retail giant Amazon would not translate into actual policy.

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It also smashed the record for most threes made in the Final Four in a blowout win against No. 1 seed Kansas with 18. It would be easy to look at the Wildcats as a live-by-the-3; die-by-the-3 team, led by an elite college player.

After a flat open, European markets fell sharply once the China tariffs were announced.

"I think the market is beginning to understand and remember that Trump's bark is much bigger than his bite", says Lindsey Bell, investment strategist at CFRA, a Wall Street research firm. If the tariffs are implemented "US consumers are going to take a beating". "It gives both sides time to negotiate, which I think is the strategy for both the US and China".

"This is a tricky one for markets", said Thomas Thygesen, SEB AB's head of cross-asset strategy in Copenhagen, adding, "This inherent unpredictability will weigh on global economic growth".

"If they're not concerned that tells you a lot about what the implications might be", Aguilar said.

Adams, of PNC Financial, said the tariffs would be especially painful for companies in agriculture: machinery makers in the USA would pay more for imported components, and they wouldn't sell as much food in China because their products would be more expensive.

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We should have those laws. "Under no circumstances does the government of Mexico promote irregular migration", the statement said. They must stop the big drug and people flows, or I will stop their cash cow, NAFTA.

China's retaliation came after trading hours so Japan's Nikkei added 0.2% in thin volumes, Chinese blue chips eventually ending down. The MSCI Emerging Market Index fell 1.6% to the lowest in nearly eight weeks. The pan-European FTSEurofirst 300 index of leading regional shares fell 0.43 percent. Germany's DAX dipped 1.56 per cent, while the French CAC lost 50 points, and Spain's IBEX index dropped 116 points by noon. Replacing those USA tonnes will be no easy feat. The Dow Jones Industrial Average is down 500 points in premarket trading. The S&P 500 lost 8.86 points, or 0.34 percent, to 2,605.59 and the Nasdaq Composite dropped 6.37 points, or 0.09 percent, to 6,934.92. Soybeans are of particular importance since they are the largest U.S. agricultural export to China, with just over $14 billion worth heading to China in 2016. Caterpillar slid 0.8 percent. He said that will stir up political pressure against the trade sanctions.

There are no winners here and, with numerous economies hinged on China's demand for raw materials and goods, not to mention the market sensitivity to China's economy, there will be many a government hoping that the threat of a trade war is put to bed.

"My view is this is more trade poker than it is trade policy", he said.

The rising trade rhetoric saw the dollar buckle to ¥106.16, after edging up from a low of ¥105.70 on Tuesday.

Oil bounced off session lows after US data showed a weekly decline in crude stocks, instead of the increase analysts had expected.

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The EPA never implemented the Clean Power Plan, the signature Obama-era rule to reduce emissions from the utility sector. California previously intervened in a lawsuit filed by the Alliance of Automobile Manufacturers that challenged the U.S.

Oil prices slipped with Brent crude futures off 75c to $67.38 a barrel, while United States crude fell 73c to $62.78 a barrel. They sold 61% of soy to China previous year, according to the USA soybean export council.

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