This is an outstanding story about pounding on ISIS combatants in Libya from the altitude of a B2 stealth bomber, $ 2bn apiece. Well, when you have a hammer, not only everything looks like a nail, but sooner or later you’ll have to use it. Advertisements
The effects of US tariffs on Chinese goods are felt on the Chinese stock market : $514 bn wiped out only in the last week and almost 20% in 2018. Ok, it’s a little drop from the 6.7tn Chinese equity market, but it’s definitely going into bear territory, even more so during this period of monetary tightening…… Continue reading World Trade War : Chinese Stock Market
The US had a strong rationale for imposing the steel safeguard. This piece from Der Spiegel couldn’t be any clearer. The OECD estimates there is a global overcapacity in steel production of 740 million tons. Predatory competition and price wars are so brutal that even global companies like ThyssenKrupp are no longer able to survive on their…… Continue reading World Trade War of Steel
The US is returning somehow to the “no friends no enemies” foreign policy of the 1920s. Except that at that time there were no nukes nor ICBM, so much easier to be a proud isolationist.
Engaging North Korea is a success in itself. If there will be results, it remains to be seen.
So in the end, the US tariffs announced for June 15 on $50bn Chinese imports were postponed for July 6 and include mostly goods containing “industrially significant technologies”. China did not lost time and replied within hours with a tit-for-tat own list targeting especially agricultural US products. As if all this was not enough, on Monday, June…… Continue reading World Trade War : US and China trading threats
Slapping tariffs on steel and aluminium under National Security provisions is one thing; but cars ? Restricting car imports into the US through the same Section 262 ? The investigation is under way in the Commerce Department, and it seems to be forced into resolve for the November midterm elections. The U.S. auto industry, composed…… Continue reading Global Trade War : German Cars