Chinese Ministry of Commerce: We will sign the trade deal in Washington next week

[yota691]

More than 50 major companies, from Google to Nintendo, pull production from China because of the trade war

[MyLadiesDaddy]

On 8/30/2019 at 8:27 AM, Shabibilicious said:

Politics

Donald Trump Reportedly Faked Trade Phone Calls With China

 Tom Nicholson,Esquire 2 hours 40 minutes ago 

 

 

From Esquire

Donald Trump likes making phone calls. Phone calls mean business. You get to lean one arm on the table and look a bit like JFK or Martin Sheen in The West Wing. Plus you can wang the receiver down to make a point. Phone calls are great.

He's also been known to make phone calls which take place almost entirely within his own brain. Remember that time he pretended he'd had to take a call at a Saturday Night Live table read about how his book was at the top of the charts? Well, he's apparently been at it again.

You might remember that at the G7 meeting last week Trump said his long-running trade war with China might come to an end soon.

"China called last night our top trade people and said, 'Let's get back to the table.' So we will be getting back to the table and I think they want to do something," Trump told reporters. "They have been hurt very badly but they understand this is the right thing to do and I have great respect for it. This is a very positive development for the world. I think we are going to have a deal."

Except now CNN reports that aides admit that in spite of Trump's insistence to the contrary, no such phone calls ever took place. Add to that the completely nonplussed Chinese reaction, and it all looks like a vaporous attempt to stop the markets wobbling at the prospect of an economic downturn caused by this trade war.

 

"Regarding the phone call in the weekend, I am not aware of that," Geng Shuang of the Chinese Foreign Ministry said last week. "I can tell you clearly that I haven’t heard of such a thing."

"We have had calls at the highest level, but I don’t want to talk about that," Trump told reporters when he was pressed on the matter last week, invoking the standard presidential 'I definitely have had trade talks, but they go to a different school in the next town over so you can't meet them' defence.

 

https://www.yahoo.com/lifestyle/donald-trump-reportedly-faked-trade-103600840.html

 

GO RV, then BV  

YAHOOOSSS

I can't decide what is worse, You actually believing this ridiculous rhetorical vomit or you grossly underestimating your enemy. 

[yota691]

Chinese yuan .. The currency of the two different prices worries global markets

 01 Sep 2019 06:12 PM
From: Sally Ismail

Direct: Since China gave the green light for the currency to fall below an important level, the yuan is the most interesting currency in all world markets.

At the beginning of August 2019, the US dollar broke the 7-yuan mark for the first time in more than a decade, a move seen as an important tool for Beijing in its trade war with Washington.

Numbers and facts

Although the yuan has been highlighted since the start of trade frictions between the two largest economies around the world as an important tool in the conflicts between the two sides, but there is a set of facts about the currency of the most worrying.

The record  Chinese yuan in the month of August / August  , the worst monthly performance since January 1994, when Beijing has adopted the modern exchange rate system, with the fact that the currency has lost about 3.8 percent of its value against the US dollar.

The value of China's domestic currency in domestic transactions is currently at levels not seen since early 2008.

The Chinese currency dominated the red for 10 consecutive sessions until the end of August 28, the longest daily loss since December 2015.

This comes as the Chinese central bank continues to set the benchmark price of the currency at (7.0835 yuan per dollar) better than expected (7.1126 yuan per dollar) for the eighth consecutive day until last Friday's session.

However, China's central bank continues to set the benchmark currency at the lowest level in about 11 and a half years.

In parallel, the yuan has fallen in foreign trade to its weakest level since it began trading on the international market in 2010.

Price at home and abroad

China has a different exchange rate regime. There is only one currency but two exchange rates, one at home, which is controlled by the country and the other abroad, which is subject to global conditions.

The value of the yuan in internal transactions , or " CNY ", is subject to strict management.

At the beginning of each day, the People's Bank of China determines the so-called currency reference rate based on the closing level of the previous session and the opinions of interbank traders.

The yuan is allowed to trade within a narrow range of 2 percent in both the up or down trends compared to the daily reference price.

If the currency moves beyond this range, the Chinese central bank intervenes to buy or sell the yuan in order to limit daily volatility.

As for the yuan abroad , known as the " CNH " symbol , it is not subject to strict management as in the case of currency trading at home.

The yuan is traded in other countries outside China's borders, mostly in Hong Kong and Singapore, as well as London and New York.

The foreign exchange rate is influenced by market supply and demand, but volumes are relatively lower compared to domestic currency trading.

China has long sought to internationalize its currency, especially in the wake of the global financial crisis, and launched new yuan-denominated oil contracts last year.

In 2016, the Chinese yuan joined the IMF's basket of currencies.

Pessimistic outlook

Analysts' expectations of a weaker Chinese currency have become more pessimistic than before amid the continued downward trend in the yuan.

Bank of America Merrill Lynch predicted in a memo quoted by Bloomberg that the Chinese central bank would allow the currency to fall to 7.5 yuan per dollar by the end of this year.

Meanwhile, ING expects the dollar-yuan exchange rate to range between 7.05 and 7.50 yuan.

The bank expects volatility to be high given China's aim to use the yuan as a surprise market tool.

On the other hand, the head of China's research at "OBC" in comments with "CNBC" to move quickly Beijing again to devalue its currency, but explained that some suggest that it may reach the level of 7.20 yuan Per dollar.

A weaker currency makes Chinese exports cheaper and more competitive in international markets and can offset some of the potential effects of tariffs.

However, it is still unlikely that Beijing may allow the yuan to depreciate rapidly, given concerns that the rapid depreciation of the yuan could lead to a significant exodus of capital from the country, as investors move their assets abroad amid instability.

Going back in history, in 2015 the yuan saw losses of around 2 percent, but it took years in China to stabilize outflows since then.

Business Developments

Long-term trade frictions between the United States and China remain in place month after month without reaching a fair trade deal as the US side wishes.

Since the beginning of this year, the two sides have been trying to conclude a trade deal with negotiations always ending that progress has been made and we are on the right track, under the umbrella of a commercial truce.

But US President Donald Trump surprised everyone in July and broke this trade truce, announcing his intention to apply 10 percent tariffs on Chinese goods worth $ 300 billion from September before retreating slightly and delaying some of them until 15. Next December.

Since then, the world's second-largest economy has begun to allow its currency to fall below 7 yuan per dollar, which Trump saw as currency manipulation , a charge that is not new to everyone .

But China has decided to escalate the tense situation to impose new tariffs on US products worth $ 75 billion effective from September 1, with some measures to be postponed until December 15.

This scenario is equivalent to the US-planned timetable announced earlier in August.

Consequently, the US president further escalated, announcing that the $ 300 billion duty on Chinese goods to come into effect on September 1 would increase to 15 percent from 10 percent.

He also approved a $ 250 billion tariff increase for Chinese products to 30 percent from 25 percent previously, starting October 1.

These recent trade developments have left their mark on the global markets at the end of the third week of this month amidst strong turmoil among investors.

But by the beginning of the last week of August, these developments were tempered by the US president's hint of the Chinese side's willingness to return to the negotiating table.

With Beijing denying the demand , the eyes are watching for new trade frictions between the two largest economies around the world, especially with Donald Trump's assertion that the United States is in good standing with China .

 

[yota691]

Report: Trump wanted to double tariffs against China

04 Sep 2019 12:13 PM
Directly: an interview that US President Donald Trump was willing to double the tariffs on Chinese goods last month, after Beijing last revenge report said.

A report by CNBC, citing three unidentified sources, revealed on Tuesday that the president was angry when he learned that China had made formal plans to impose tariffs on a $ 75 billion US product bill in response to Washington's tariffs. On September 1.

At the beginning of this month , it has already entered the US and Chinese tariffs on goods exchanged between the two sides into effect.

The sources said the president's initial reaction, which he delivered to White House aides by phone that day, was his proposal to double the current tariffs on the Chinese side.

According to the report, Treasury Secretary Stephen Mnuchin and Trade Representative Robert Lighters prompted many executives to communicate with the president and warn him about the impact of such a move on the stock markets and the economy.

In the end, the US president settled on a 5 percent increase in tariffs on the total Chinese goods imported by the United States worth $ 550 billion.

Following the announcement of the tariff hike, Trump said he regretted that tariffs had not been increased further, which were widely misunderstood .

The US president wrote yesterday on Twitter that the trade deal would become tougher if he was re-elected as president of the United States again in 2020, saying: "The deal will become much more difficult."

 

[yota691]

Exiled Chinese Billionaire's Accusations of China

[yota691]

China to hold trade talks with US in October

 

US Treasury Secretary Stephen Mnuchin. Reuters

Arabic and International Economy News - Baghdad China and the United States have agreed to hold high-level trade talks in early October in Washington, the Ministry of Commerce said on Thursday. The announcement followed a call earlier on Thursday between Chinese Vice Premier Liu He, US Trade Representative Robert Lighthizer and US Treasury Secretary Stephen Mnuchin, the Chinese Ministry of Commerce said in a statement on its website. Yi Gang, governor of China's central bank, also participated. "The two sides agreed on the need to work together and take practical steps to create favorable conditions for consultations," the ministry said. Trade teams from the two countries will hold talks in mid-September before high-level talks the following month, the ministry said. A spokesman for the US Trade Representative's office confirmed that Lighthaezer and Mnuchin had spoken to Liu and said they had agreed to hold ministerial-level trade talks in Washington "in the coming weeks." Washington on Sunday began imposing 15 percent tariffs on Chinese imports, while China began imposing new tariffs on US crude oil. This prompted China to file a complaint against the United States with the World Trade Organization. US President Donald Trump said on Tuesday he would adopt a "tougher" stance in his second term if China stalled negotiations, exacerbating market fears that trade disputes between the two countries could spark a US recession. Views: 20   Date Added: 05/09/2019

[yota691]

China agrees to hold trade and economic negotiations with America

By AhadNA3 07/09/2019 02:22 PM | Number Of Hits: 41

China is willing to buy a quantity of US agricultural products before the new round of negotiations. Chinese Vice Premier Liu Hei held a telephone conversation with US Treasury Secretary Stephen Mnuchin and Trade Representative Robert Leitzer, during which they agreed to hold a new round of trade and economic negotiations in early October in Washington.

Politico quoted sources as saying Saturday that the Chinese proposal could be implemented if the United States eased export restrictions on Huawei or postponed a $ 250 billion tariff increase on Chinese goods, which will come into effect on October 1.

US President Donald Trump has agreed not to impose tariffs on additional $ 300 billion in Chinese imports and to ease restrictions on Chinese technology giant Huawei to resume talks.

The United States currently imposes a 25 percent tariff on Chinese goods worth $ 250 billion, including furniture and some goods in the transportation sector. Finished 2

[yota691]

Trump: We might think of a temporary trade agreement with China

 13 September 2019 12:04 PM
Direct US President Donald Trump said he might consider the conclusion of an interim trade agreement with China , although no preference for it.

Speaking to reporters on Thursday, Trump said: "If we are going to implement a deal let's implement it," according to the station "CNBC" America.

"A lot of people are thinking about it. I see a lot of analysts talking about a temporary deal, which points to the completion of parts of the deal or the easy parts first."

"But there are no easy or difficult parts. It is either an agreement or not, but the interim agreement is something I think we will think about."

Trump's signals gave the markets more confusion, especially as White House officials had said President Trump was "of course not thinking" of signing an interim agreement.

White House spokesman Jude Deer said Trump was meant to prefer a full agreement.

This week, China decided to exclude 16 US products from its tariff list for a year.

The United States decided to postpone the application of tariff increases on Chinese goods worth 250 billion dollars for two weeks until October 15.

 

[MyLadiesDaddy]

 

[yota691]

IMF official: The global economy is "far from recession"

 

IMF logo

Arabic and International Economy News - Baghdad Trade tensions are affecting growth around the world but the IMF is "far from" expecting a global recession, an IMF official said. The official spoke as the IMF prepares to issue new economic forecasts next month. The IMF said on Thursday that tariffs imposed or threatened by the United States and China could cut 0.8 percent of global economic output in 2020 and trigger losses in the coming years. "Trade tensions are affecting growth," said the official, who is familiar with the forecasting process. "While manufacturing activity is weak, we also see resilience in the service sector and consumer confidence is holding. The question is how long that flexibility can last," said the official, who is not authorized to speak publicly. The IMF issues economic forecasts twice a year to coincide with its spring and autumn meetings, including global GDP forecasts for the current and next year. Views: 15   Date Added: 14/09/2019

[yota691]

China, US to hold trade talks Thursday

17 September 2019 01:52 PM
Mubasher : The United States and China will begin deputy trade talks this week in Washington to pave the way for high-level talks next month.

The spokesman for the US Trade Representative, said on Tuesday, the two countries intend to hold talks on Thursday, without giving further details.

Previously, trade talks at the lower house level were led by a spokesman for the Chinese minister of commerce.

The United States decided last week to postpone the application of additional tariffs on Chinese products worth 250 billion dollars for two weeks, to be applied in the middle of next month.

China also decided to exclude 16 US products from the tariff list for a year, and announced its intention to remove some US agricultural products such as soybeans and pork from the tariff list.

 

[MyLadiesDaddy]

On 9/14/2019 at 5:44 AM, yota691 said:

IMF official: The global economy is "far from recession"

 

IMF logo

Arabic and International Economy News - Baghdad Trade tensions are affecting growth around the world but the IMF is "far from" expecting a global recession, an IMF official said. The official spoke as the IMF prepares to issue new economic forecasts next month. The IMF said on Thursday that tariffs imposed or threatened by the United States and China could cut 0.8 percent of global economic output in 2020 and trigger losses in the coming years. "Trade tensions are affecting growth," said the official, who is familiar with the forecasting process. "While manufacturing activity is weak, we also see resilience in the service sector and consumer confidence is holding. The question is how long that flexibility can last," said the official, who is not authorized to speak publicly. The IMF issues economic forecasts twice a year to coincide with its spring and autumn meetings, including global GDP forecasts for the current and next year. Views: 15   Date Added: 14/09/2019

Well that just blows the doomsday crowd out of the H2O

[yota691]

Trump: Trade deal with China may soon be concluded

17 September 2019 10:05 PM
Direct: US President Donald Trump said that the commercial deal between the United States and China may take place soon, with negotiators prepared for a round of talks on Thursday.

The US president told reporters before leaving for California on Tuesday that China would buy large quantities of US agricultural products, noting that the trade deal could be made before the presidential election.

Trump said he had told China that if the deal came after the election, conditions would be "much worse" for Beijing than it could now achieve.

The United States and China will begin trade talks at the deputy official level this week in Washington, with formal negotiations next month.

In another context, Trump said that he is open to withdraw from the strategic oil reserves, but sees no need for this after the attack on "Aramco."

The US president has ordered the withdrawal of emergency oil reserves if necessary after the attack on Aramco led to the loss of about 5 percent of the global supply of crude.

 

[MyLadiesDaddy]

36 minutes ago, yota691 said:

Trump: Trade deal with China may soon be concluded

17 September 2019 10:05 PM
Direct: US President Donald Trump said that the commercial deal between the United States and China may take place soon, with negotiators prepared for a round of talks on Thursday.

The US president told reporters before leaving for California on Tuesday that China would buy large quantities of US agricultural products, noting that the trade deal could be made before the presidential election.

Trump said he had told China that if the deal came after the election, conditions would be "much worse" for Beijing than it could now achieve.

The United States and China will begin trade talks at the deputy official level this week in Washington, with formal negotiations next month.

In another context, Trump said that he is open to withdraw from the strategic oil reserves, but sees no need for this after the attack on "Aramco."

The US president has ordered the withdrawal of emergency oil reserves if necessary after the attack on Aramco led to the loss of about 5 percent of the global supply of crude.

 

Good Morning Master Yota and all of. 

Boy Master Yota you really gonna hurt B/As feeler's 

[yota691]

2 minutes ago, ladyGrace'sDaddy said:

you really gonna hurt B/As feeler's 

Not me. Doesn't need my help to do that...

[caz1104]

BBBBBBBBUUUUUUT HE SAYS MEAN THINGS ABOUT PEOPLE!!!!!!

[Pitcher]

If a deal gets done in Oct it will be a minor one that will get both countries back to zero so to speak.  They still will have to tackle major differences like Intelectual property, spying,, hacking, military excursions, and human rights to name just a few.  They are trying to walk back the tough talk and find some sort of common ground.  There is no doubt that this trade war is disrupting World trade.  It’s a good thing they are trying to work something out that benefits everyone.  They hopefully can then work out an agreement on the tougher issues

It takes two to Tango.  

[caz1104]

2 hours ago, Pitcher said:

If a deal gets done in Oct it will be a minor one that will get both countries back to zero so to speak.  They still will have to tackle major differences like Intelectual property, spying,, hacking, military excursions, and human rights to name just a few.  They are trying to walk back the tough talk and find some sort of common ground.  There is no doubt that this trade war is disrupting World trade.  It’s a good thing they are trying to work something out that benefits everyone.  They hopefully can then work out an agreement on the tougher issues

It takes two to Tango.  

Its something that should have been tackled decades ago...and Trump is a MEANIE

Edited September 18, 2019 by caz1104

[yota691]

Trump: We are making great progress with China

20 September 2019 06:43 PM
Direct US President Donald Trump said that the United States is making significant progress with China under the pursuit of the two largest economies in the world to resolve the ongoing dispute.

Negotiators from Washington and Beijing held deputy-level talks on Thursday in preparation for formal negotiations scheduled for next month.

He told reporters in the Oval Office on Friday that the United States gets billions of dollars of tariffs on Chinese goods.

Trade concerns have eased recently, with press reports saying the United States has excluded more than 400 producers from Washington's tariff list last year.

Last week, Washington decided to postpone the application of additional tariffs on Chinese products for two weeks, to come into effect in the middle of next month.

China has also decided to exclude 16 US products from the tariff list for a year.

 

[yota691]

Trump: I don't need a deal with China before the presidential election

 20 September 2019 10:41 PM
Direct US President Donald Trump said he does not need to conclude a trade deal with China before the presidential election in 2020.

"I don't think I need a trade deal before the election," Trump told a White House news conference with Australian Prime Minister Scott Morrison on Friday.

"I think the Americans know we are doing a great job," he said, referring to his administration's work to support the economy and the military.

The US president pointed out that China is heavily affected by tariffs unlike the United States, which he said is not affected by tariffs.

Trump said his relationship with Chinese President Xi Jinping was strong, but "we now have some disagreement."

Trump also stressed that he does not want a "partial deal" with Beijing, away from his comments last week that he may consider a "temporary deal."

Negotiators from China and the United States held talks yesterday at the level of deputy officials, but canceling the Chinese delegation to increase it to US farms in the state of "Montana" indicates that no progress has been made.

 

[Pitcher]

On 8/31/2019 at 7:37 AM, yota691 said:

More than 50 major companies, from Google to Nintendo, pull production from China because of the trade war

 

Its about time. It’s just not a good business practice to have all your production at one factory, one company, or one foreign country.  

Especially when that one country is stealing your blueprints.  When I was running my business I had a standing rule when it came to production of our products.   We always had at least 4 different factories in 2-3 different countries.  

[yota691]

US Justice Department: China increases theft of trade secrets

23 Sep 2019 03:22 PM
Direct : US Department of Justice has warned companies to increase China 's theft of trade secrets, and demanded the strengthening of the means of defense has.

Adam Hayke, deputy assistant attorney general for the United States, told CNBC on Monday that many cases were opened that allegedly involved in theft of trade secrets. Involvement of China.

China has been implicated in about 80 percent of economic espionage cases filed by the ministry since 2012, and according to Heike, the frequency of such cases has increased in recent years.

China and the United States have been in a trade war for a year and a half and have not yet signed a trade agreement, with each country applying tariff increases to the other country's imports and goods.

Washington and Beijing now plan to hold high-level trade talks scheduled for next month.

The US official added: "Vigilance of the victims of the incidents and their comfort in reporting to law enforcement bodies are all good and useful in disclosing."

Last year, the US Department of Justice issued the "Chinese Initiative", which aims to counter China's threats to national security.

 

[umbertino]

Huawei launches new 5G flagship Mate 30 smartphones without Google apps

 

Sep 20, 2019

By Wei Sheng

 

 

 

https://technode.com/2019/09/20/huawei-launches-5g-flagship-without-google-apps/

 

[yota691]

Report: China to buy US soybean after trade talks

 23 September 2019 09:35 PM
Direct: Chinese importers have bought 10 shipments of US soybeans following last week's trade talks, according to a recent report.

The purchase of 600,000 tonnes of soybeans is due to be shipped from export terminals from October to December, the report said, citing Chinese Ministry of Agriculture officials on Monday.

The deal was similar to a procurement campaign announced earlier this month.

The soybean futures contract on the Chicago Mercantile Exchange rose after news of renewed purchases, about 1.5 percent, the biggest rise since Chinese importers bought large quantities of US soybeans on September 12.

A trade deal between the world's two largest economies last week seemed unlikely, after Chinese officials canceled a planned visit to the Montana and Nebraska farms.

But at the same time, both sides stressed that their trade negotiations were going well and that high-level talks planned for next month were still going on.

Today's purchase of soybeans is among the biggest deals by Chinese private importers since Beijing imposed tariffs on soybean imports by about 25 percent in July 2018.

 

[yota691]

Mnuchin: Washington and Beijing to hold trade talks after two weeks

 24 September 2019 11:51 am
Direct : US Treasury Secretary "Stephen Manoucan" said that the United States and China are heading to hold trade talks after two weeks.

Mnuchin said on Monday in remarks to the network "Fox Business" that he will meet with Chinese Vice Premier with the US Trade Representative Robert Leithzer.

He continued US Treasury Secretary: "In fact I think that the talks will not be in the next week, but in the following week."

Mnuchin believes that the negotiators of the two countries were able to make some progress in terms of easing tensions, at the meeting held last week at the level of deputy officials.

Last week, a Chinese trade delegation traveled to the United States for trade talks that were described as constructive.

According to press reports yesterday, Chinese importers bought 10 shipments of US soybeans, following trade talks between the two sides last week.