US Trump to place tariffs on steel from Brazil and Argentina

The US President Donald Trump has said he will place tariffs on steel and aluminium imports from Brazil and Argentina. He commented the trade situation on Monday  before leaving for the Nato meeting to London. According to him, the weak currencies had made it harder for US food exports to compete.

The trade talks with China are also having delays due to the Hong Kong democracy and human rights bill the President Trump signed last week. According to him, the HK law have complicated the talks with China. China has said that the US Navy cannot enter the Hong Kong ports at the moment.

The city of Hong Kong also revealed some retail sales figures, which show the six months demonstrations have caused the city retails sales massive drops. For example the retail sales dropped 24,3 % in October, while the figures were – 18,2 % and -22,9 %  in September and August.

The trade talks with US China are having deadline next week on the 15th December before the new trade tariffs come into force. The US Administration has said that more tariffs will be placed if no deal is reached with China before the deadline.

Business Finance

Obaku and the smart new watch

The Danish watchmaker Obaku is launching a new watch with interesting time and date on it. According to the company designer Christian Mikkelsen finding the movement for this watch was not easy.

-Finding the movement for this watch was not easy. The original movement also shows the moonphase, but I wanted to stick to our clean Scandinavian design principles. The watch looked too busy with the moonphase element showing, but I loved the way date was shown on this movement. Finally we covered up the moonphase part with the dial and created our own unique look to this movement, he says.

The company is launching this special watch during this autumn time in two versions, Dato Steel and Dato Ocean, both in stainless steel, an all-steel version with a white dial and a stunning blue and rose-gold version.

The loved Kvadrat series is also getting new colors. The blue and silver fusion is called Arctic and it has sapphire crystal on it.

Lifestyle

US to end steel and aluminum tariffs with Canada and Mexico – WSJ

US Government is ending the steel and aluminum tariffs with Canada and Mexico. According to Wall Street Journal, the US Government have reached a deal with these countries on Friday.

Canada and Mexico government representatives have confirmed that the deal has been made although more information is coming in the next few days.

The US Government is working to get the US-Mexico-Canada Agreement (USMCA) passed. According to Canada, the both countries have agreed to terminate all pending litigation between them at the World Trade Organisation regarding the metals.

This USMCA was signed in November by the three countries, but it needs the ratification still.

 

Business Finance

Thyssenkrupp to make IPO of its elevator business

The German Thyssenkrupp (TKA) said on Friday that it will make an IPO of its elevator business. And also announced that the earlier plan to split the company to two parts to steel and elevators, will be dropped.

The company stock rose by 20,56 % to 13,65 euros in Frankfurt.

The company also mentioned that the joint venture with the India’s Tata Steel might end due to the blocking by the EU Commission.

Business Finance