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16-02-2019 08:23 PM
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BAGHDAD (Reuters) - 
A confidential report from the US Commerce Department is due to be sent to President Donald Trump on Sunday and is expected to open the door to the threat of customs duties on cars and components imported from abroad, officials in the US auto industry said on Sunday. 
The report's recommendations could bring the global auto industry a step closer to the worst commercial nightmare of charging US customs duties on millions of cars and components imported from abroad by up to 25 percent by describing their classification as a threat to national security. 
Many in the sector fear such a measure would add thousands of dollars to the cost of cars and could cause hundreds of thousands of jobs to be abandoned in the US economy.
The content of the report is expected to remain confidential, while Trump is considering his recommendations, which will make the sector and major car manufacturers in Japan, the European Union and South Korea face foggy implications. 
Car industry officials said they expected the report to recommend at least some customs duties so that the department could use the findings of the survey as a means of negotiating this year with Japan and the European Union. 
The report is the result of a survey initiated by the Ministry of Commerce in May 2018 at the request of Trump, which was intended to determine the impact of imports on national security. 
The final version will be sent to the White House on Sunday, in line with a legal deadline, a Trump source told Reuters. 
Secret drafts of proposed recommendations were sent to the White House and other government agencies for review last November.

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 Arab and international


Economy News _ Baghdad

A new round of US-China trade talks to end the trade war between the two countries will begin in Washington on Tuesday, the White House said, and follow-up sessions will be held at a higher level later in the week. 
The talks follow a round of negotiations that ended in Beijing last week without an agreement, but officials said they had made progress on thorny issues between the world's two largest economies.


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Washington wants a pledge from China not to devalue the yuan

Washington wants a pledge from China not to devalue the yuan

 19 February 2019 10:34 PM
Direct : Press report said that the United States is seeking a pledge from China not to devalue the yuan as part of a deal aimed at ending trade war between the two largest economies in the world.

Officials from the two countries are discussing how to deal with currency policy in a "memorandum of understanding" that would form the basis for an agreement that must ultimately be adopted by President Donald Trump and his Chinese counterpart, Xi Jinping, the Bloomberg news agency quoted unnamed sources as saying Tuesday.

Negotiations between China and the United States will resume today in Washington and are scheduled to last until Friday as the March 1 deadline for tariff increases approaches.

Trump's management was clear in its talks with Beijing that any attempt to devalue the yuan by China would be met with more tariffs.

Trump pledged to announce China's manipulation of local currency during his 2016 campaign, but two years after taking office, US Treasury Secretary Stephen Manuchen did not find a reason to do so, but continued to watch the yuan closely.

 
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Janet Yellen: It is difficult to prevent China from manipulating its currency

Janet Yellen: It is difficult to prevent China from manipulating its currency
 
 

February 20, 2019 12:28 PM
Former US Federal Reserve Chairman Janet Yellen said Washington's ban on Beijing from manipulating its currency could be more difficult than US trade negotiators have imagined.

Press reports said yesterday that Washington was seeking a pledge from China not to devalue the yuan as part of their joint trade deal.

"Some of the tools used by central bank officials to stabilize their economy ultimately weaken their exchange rate," she said on Tuesday, on the sidelines of a conference.

The president of the Federal Reserve, whose term expired in February, said it was really difficult to say whether central bank officials were manipulating currency or good monetary policy.

The former Federal President explained that monetary policy has a systemic effect on the exchange rate of the nation's currency, "yet I think it is a broad agreement that this must be available for use for national purposes."

Janet Yellen therefore stresses that they should be careful not to define local monetary policy tools as currency manipulation.

The United States itself was accused of manipulating its currency in the post-Great Depression period when it engaged in large bond purchases, Yelen said.

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America and China set out the features of an agreement to end the trade war

11:10 - 21/02/2019

 
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Follow - up - the balance of News 
and in the best progress so far towards ending the nearly seven - month trade war , informed sources said that the United States and China have begun to outline the initial obligations regarding the most prominent problems in the trade dispute. 
The two countries, the world's two largest economies, have traded customs duties on goods worth hundreds of billions of dollars, slowing global economic growth and disrupting supply chains and manufacturing processes. 
The positions of officials, who hold high-level talks on Thursday and Friday in Washington, remain far from the demands put forward by the US administration of Donald Trump for structural adjustments to the Chinese economy.

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Washington and Beijing are working on joint memorandums of understanding to settle a trade deal

Washington and Beijing are working on joint memorandums of understanding to settle a trade deal
 
 

21 February 2019 11:46 p
Direct : Press reports revealed that Washington and Beijing are working on several memorandums of understanding that may contribute to the formation of the rules of a trade agreement between them.

A person familiar with the matter told Bloomberg on Thursday that the notes would cover areas of agriculture, technology transfer, services and intellectual property.

The sources added that the enforcement mechanism is still unclear, but it is likely to be a threat to re-apply tariffs if the conditions are not met.

This week, the United States and China will hold the sixth round of joint trade talks in Washington.

No breakthrough is expected in talks this week in Washington on major structural issues, but there is a trend to extend the truce period, the sources said.

The trade truce between China and the United States is due to expire on March 1, which requires more tariff cuts and a trade deal.

Another source said there was a possibility that a meeting between Chinese Premier and US President Donald Trump would take place on Friday.

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China proposes US $ 30 billion worth of US agricultural goods

China proposes US $ 30 billion worth of US agricultural goods

 21 February 2019 07:22 PM
Direct: revealed a press report that China proposes to import additional agricultural commodities from the United States worth $ 30 billion annually.

China offered to buy more US agricultural products including soybeans, maize and wheat as part of a possible trade deal to be negotiated between the two countries, Bloomberg quoted unnamed sources as saying on Thursday.

The offer to buy additional agricultural products by China would be part of the memoranda of understanding discussed by US and Chinese negotiators in Washington, the sources said.

China has repeatedly offered increased purchases of agricultural products and energy to reduce the US trade deficit.

Since the trade armistice agreement last December, China has resumed importing some agricultural goods, including soybeans.

MOUs under discussion include non-tariff barriers, services, technology transfer and intellectual property, but the implementation mechanism remains unclear.

This week, the United States and China are holding trade talks in Washington to reach a deal before the end of the truce on March 1.

 
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Global commodity markets are seeing broad gains led by gold, palladium and oil

Global commodity markets are seeing broad gains led by gold, palladium and oil

 21 February 2019 03:00 PM
From: Noha Al - Nahhas

Direct : I started the causes that have hampered the setback in global commodity markets last year in fading slowly, with the emergence of the commercial solution to the crisis between China and the United States.

Since the beginning of 2019, Washington and Beijing have engaged in six rounds of joint trade talks to end their trade dispute and seek solutions.

The US president has made it clear that he will remove the tariffs his administration has applied to its imports from China to resolve a trade deal with Beijing.

With these positive developments, investor confidence has begun to return to commodity markets, as removing trade tensions between the United States and China would restore confidence in global economic growth and boost demand for commodities.

Indeed, the Bloomberg Global Commodity Index rose 5.5% from the beginning of this year to the end of February 18.

The Fed's move away from the hawkish tone prompted investors to abandon the green card for gold metal.

The political turmoil in the United States last January due to government closures supported safe haven assets.

Gold reached its highest level in 10 months

Gold has been one of the top gainers in global markets this year. Gold futures have risen 3.2% since the beginning of 2019, or $ 41 an ounce, and hit a 10-month high in February.

Last month, Goldman Sachs raised its gold price forecast for the next three months to $ 1325 an ounce, $ 1375 an ounce over the next six months and $ 1425 an ounce over the next 12 months.

This came in contrast to previous estimates at $ 1250, $ 1,300 and $ 1,350 an ounce respectively.

Goldman Sachs believes that the precious metal will gain momentum due to rising demand for defense assets and the tendency of central banks to increase gold reserves as geopolitical tensions grow.

The World Gold Institute data showed that central banks increased their metal holdings at the fastest pace in 47 years.

Palladium records the highest level in its history

If gold is the biggest gainer in 10 months, the palladium has reached its highest level in history and the price of gold has exceeded $ 1500 an ounce, with gains of about 17% since the beginning of this year.

Phillip Newman, analyst at CNBC, says the palladium market is facing an increasing supply shortfall and is also on the rise in demand due to rising demand for cars.

An analyst at Capital Economics told The Wall Street Journal that palladium metal prices, although they have risen about 70% over the past 6 months, are not sustainable.

He added that it is now clear that the supply rose strongly in 2018, which would lead to a slowdown in prices coupled with the current slowdown in car sales.

Copper continues gains

Copper had a stake in the global metals gain train, rising 6.4 percent since the beginning of 2019.

In addition to the global gains of all the metals markets in the world, copper has its own gains, as China, which consumes half of the world's copper, raised its metal imports at a record high last January.

China's metal shipments reached 479,000 tons, up 14 percent from December levels and up 9 percent year-on-year.

According to an analysis of the site of "Money Conroll", he believes that the pace of new supply of mines will slow down because of the decline in the production of copper mine in Indonesia, while demand growth will remain strong in the coming years.

Global consumption of copper will be driven by stable growth in China's infrastructure and rising demand from the electric vehicle sector, he said.

Morgan Stanley expects global supply of copper mines to fall by about 2.4 percent in the current year, "meaning global demand needs to stabilize until the copper market remains balanced this year."

Goldman Sachs expects the copper price to reach $ 7,000 per tonne over the next 12 months, while Citibank expects $ 6,700 in the next six months if Washington and Beijing reach a solution to the trade dispute.

Oil recovers in 2019

Oil prices managed to record a recovery this year, with Brent and Nymex rising 23.6% and 22.4% respectively.

Goldman Sachs predicts that the average price of Brent crude in the second quarter of this year will reach $ 67.50 a barrel, led by strong demand and supply cuts by OPEC and its allies such as Russia.

The Bank is based on its positive forecasts that the growing expectations of a slowdown in global economic growth are unjustified and oil production losses in 2019 are already higher than expected.

BP's chief executive said conditions in the oil market were expected to improve in the coming months, expecting oil prices to be stronger this year.

According to the BP official expects oil prices this year to range between 50 and 65 dollars per barrel.

The price of iron ore reaches a record high

Just as the palladium market had its own favorable conditions, iron ore had the same conditions, with China's crude at an all-time high of 652 yuan per tonne ($ 96.26 per ton) before retreating slightly.

The Brazilian government ordered Valle to stop using eight dams used for mine disposal after the collapse of the dam on 25 January at the Corrigo do Vigo mine.

The closures are expected to affect about 9% of the company's annual iron ore production and have forced Vali to declare force majeure, a measure that would report its inability to meet contracts due to unforeseen circumstances.

 
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I agree it might all be tied together.  President Trump has been negotiating better trade deals with everyone over the last two years.  He wants to make sure America will be a main beneficiary of any reset or RV.  It’s been a long time coming since our past leaders have sold us out to the Globalists for decades.  

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Trump postpones deadline for trade truce with China

Trump postpones deadline for trade truce with China

 25 February 2019 10:08 p
Direct US President Donald Trump announced that he would delay the increase in tariffs on Chinese goods as a result of the fruitful trade talks achieved by the two sides.

Trump said in a tweet on Sunday that he was happy to say that his country had made significant progress in its trade talks with China on important structural issues including protection of the intellectual queen, currencies, services, agriculture and many other issues.

Trump added that as a result of all these fruitful talks, he decided to postpone any increase in US tariffs, which was set for March 1.

 

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At the end of last year, the United States and China agreed to defer any decision to increase import tariffs from Beijing for three months, seeking a common trade agreement.

The US president said that on the assumption that the two sides had been able to make further progress, they would plan to hold a summit between him and his Chinese counterpart in Mar-Lugo to conclude an agreement.

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Chinese yuan rises to 7-month high after Trump's decision

Chinese yuan rises to 7-month high after Trump's decision

 25 February 2019 01:26 PM
The yuan rose against the US dollar to a seven-month high on Monday as the US president postponed further tariffs on imports from China.

By 10:15 am GMT, the yuan rose against the dollar by 0.4 percent, with the US currency falling to 6.6857 yuan.

US President Donald Trump announced on Sunday his intention to postpone further tariffs on imports from China, scheduled for March 1.

Trump said in a personal tweak on Twitter that his country had made significant progress in its trade talks with China on important structural issues, including protection of the intellectual queen, currencies, services, agriculture and many other issues.

At the end of last year, Washington and Beijing reached an agreement to temporarily suspend the implementation of customs tariffs for a period of three months, and the trend towards a trade agreement ending the dispute between them because of tariffs.

Last year, the Trump administration introduced customs tariffs on Chinese imports worth $ 250 billion.

 
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Trump postpones increased tariffs on Chinese goods

09:16 - 25/02/2019

 
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Follow - up - the balance of News 
assured US President Donald Trump on Monday that it would delay the increase in tariffs on Chinese goods, worth $ 200 billion. 
"I am pleased to announce that the United States has made significant progress in the negotiations on trade with China ... As a result of these fruitful negotiations, I will postpone the increase in fees that was due to come into effect on March 1," Trump said via Twitter. 
Trump said he planned to meet Chinese President Xi Jinping in Florida to complete the deal. 
"If we assume that the two sides will move forward (in the negotiations), we will plan to hold a summit at the presidential level, I and Xi Jin in Marlago, to reach an agreement," Trump said.
Trump announced on the 12th of this month that it would be possible to delay the deadline for a trade agreement with China on March 1 "for a short time" but would prefer not to do so. 
The United States has announced earlier that it will raise tariffs on goods imported from China worth 200 billion dollars by 25 percent, compared to 10 percent currently, if no agreement is reached by March 1, the US demands of China imposed restrictions on the transfer of technology and the better application of intellectual property rights

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Trump Cabinet Member Literally Bans a Word Because He Can’t Explain it to Trump

by Tommy Christopher | Feb 25th, 2019, 9:55 am 

 
 
 
 

Trump U.S. Trade Representative Robert Lighthizer — a cabinet-level official — tried repeatedly to explain what a “Memorandum of Understanding” is to Trump before finally giving up and promising never to use the term again, all during a nationally-televised photo op.

During remarks in the Oval Office prior to a meeting with Vice Premier Liu He of China Friday, Trump was asked about Memoranda of Understanding (MOUs) between China and the United States, and Trump told reporters “I don’t like MOUs because they don’t mean anything. To me, they don’t mean anything. I think you’re better off just going into a document. I was never a fan of an MOU.”

“An MOU is a contract,” Lighthizer explained, adding that “It’s the way trade agreements are generally used,” that “It’s an actual contract between the two parties,” that “A memorandum of understanding is a binding agreement between two people,” and that “It’s detailed; it covers everything in great detail.

“It’s just called a memorandum of understanding,” Lighthizer explained again, for a fifth and sixth time. “That’s a legal term. It’s a contract.”

Moments later, Trump said “I disagree. I think that a memorandum of understanding is not a contract to the extent that we want. We’re going to have — we’re doing a memorandum of understanding that will be put into a final contract, I assume. But, to me, the final contract is really the thing, Bob — and I think you mean that, too — is really the thing that means something.”

Trump again told Lighthizer that an MOU “doesn’t mean very much,” and asked, “how long will it take to put that into a final, binding contract?”

“From now on, we’re not using the word ‘memorandum of understanding’ anymore,” Lighthizer said, to laughter from the room. “We’re going to the term ‘trade agreement.’ All right? No more. We’ll never use the term again.”

“Good,” Trump said.

“We’ll have the same document,” Lighthizer added. “It’s going to be called a ‘trade agreement.’ We’re never going to use ‘MOU’ again.”

And so the MOU goes out, not with a bang, but with a whimper. Here’s hoping nobody ever tries to explain “Bill of Rights” to Trump.

 

 

 

https://www.mediaite.com/tv/watch-trump-cabinet-member-literally-bans-a-word-because-he-cant-explain-it-to-trump/

 

GO RV, then BV

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If it’s a binding trade agreement then just call it that. Non story except to Trump haters. Not worth the effort Shabbs.  Find something else that I can get my teeth into. Remember Barry said there were 57 states.  All Presidents say and do dumb things.  

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52 minutes ago, Pitcher said:

If it’s a binding trade agreement then just call it that. Non story except to Trump haters. Not worth the effort Shabbs.  Find something else that I can get my teeth into. Remember Barry said there were 57 states.  All Presidents say and do dumb things.  

 

Well then.....thanks for the effort you put into your non-effort, I guess.  :blink:

 

GO RV, then BV

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Hahaha.  It’s still a non story. Why don’t you talk about what would the media do if a white actor said what Spike said in his acceptatance speech last night. He is one of the biggest racists in the US and he gets away with his hate speech all the time. Why?????  

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18 minutes ago, Pitcher said:

Hahaha.  It’s still a non story. Why don’t you talk about what would the media do if a white actor said what Spike said in his acceptatance speech last night. He is one of the biggest racists in the US and he gets away with his hate speech all the time. Why?????  

 

For the same reason Trump does, Spikes followers feeling victimized and disenfranchised enable him.  Racist white people are afraid of losing their majority status among American society and racist black people want white people to be the continued cause of all their problems.....At the end of the day Trump continues to divide us and Spike's movies continue to be boring, one sided and while also dividing us.   As always, just my opinion....as unpopular as it often is.  

 

GO RV, then BV

Edited by Shabibilicious
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Fair enough but why do the media not call him out on his racist remarks.  If you look at Black unemployment and the judicial reforms President Trump has been advocating it is truly unfair and WRONG TO CALL HIM A RACIST, imo!!!!

 

BTW, I don’t believe white people are afraid of losing their majority status. I believe a majority of white people me included are tired of the double standard when it comes to racist remarks. How about the actor using the race card for whatever reason he did that.  It happens all the time in the work force. Hate crimes and spewing hate work both ways and should be called out at all times regardless of the race. The media needs to do its job and denounce rehetoric like the Actor from 

Chicago and Spike. 

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7 minutes ago, Pitcher said:

Fair enough but why do the media not call him out on his racist remarks.  If you look at Black unemployment and the judicial reforms President Trump has been advocating it is truly unfair and WRONG TO CALL HIM A RACIST, imo!!!!

 

BTW, I don’t believe white people are afraid of losing their majority status. I believe a majority of white people me included are tired of the double standard when it comes to racist remarks. How about the actor using the race card for whatever reason he did that.  It happens all the time in the work force. Hate crimes and spewing hate work both ways and should be called out at all times regardless of the race. The media needs to do its job and denounce rehetoric like the Actor from 

Chicago and Spike. 

 

I wasn't talking about all white people or all black people, only the racist ones.  Sorry, I should have made that more clear.

 

GO RV, then BV

Edited by Shabibilicious
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Quote

Hate crimes and spewing hate work both ways and should be called out at all times regardless of the race

End Quote

 

 

Agreed ....ALL racist acts / remarks should immediately be called out from ANY race they came from and toward ANY race they're aimed......ALWAYS.......

 

Simple logic and sense of Justice dictate that

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Washington is preparing to complete a trade deal with China within weeks

Washington is preparing to complete a trade deal with China within weeks

 01 March 2019 11:00 p
Direct : According to press reports that officials in the United States are preparing a final trade agreement to be signed by President Bush and his Chinese counterpart within weeks.

A US official familiar with the matter told Bloomberg on Thursday that the United States was looking forward to a summit between Donald Trump and Xi Jinping by mid-March.

Another source said that the Chinese president's desire to lead the annual congress of the Chinese People's Congress at the beginning of March and to complete some trips abroad complicated the planning process for signing the deal.

The director of the National Economic Council, "Larry Kudlo" said yesterday that his country andChina are on their way to achieve a historic deal important.

US Trade Representative Robert Leitzer told the House Committee this week that China needs to do more than buy more US goods to reach a lasting trade deal.

This week, Trump decided to extend the trade truce with the United States on a temporary moratorium on customs tariffs on Chinese goods, which was due to expire by today.

 
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Trump calls on China to immediately lift tariffs on US products

08:26 - 02/03/2019

 
image
 
 

Follow - up - the balance of News 
announced that US President Donald Trump, he asked China to raise the fees for US agricultural products immediately, pointing out that trade talks between the two countries are going well. 
"I asked China to immediately remove all tariffs on our agricultural products (including beef, pork, etc.) on the grounds that we are doing well in business talks, and I have not raised the second tariff package to 25 percent on March 1 as planned. " 
"This is very important for our great farmers - me." 
China and the United States have made significant progress on specific issues during the latest round of high-level economic and trade negotiations in Washington, DC.
President Donald Trump, in an interview with the official Hasabah on Twitter, confirmed last week that he would "postpone" the tariff increase on Chinese imports, due to be imposed on March 1, under "very fruitful results" in trade negotiations Ongoing between the Chinese and American delegations. 
The last round of economic and trade negotiations between Beijing and Washington took place from February 21 to 24, the seventh round since February last year.

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