Trump to delay China tariffs by two weeks

The US President Donald Trump has said the US will delay some Chinese tariffs related to 250 billion dollars in the beginning of October 1st.

– At the request of the Vice Premier of China, Liu He, and due to the fact that the People´s Republic of China will be celebrating their 70th Anniversary on October 1st, we have agreed, as a gesture of good will, to move the increased tariffs on 250 billion dollars worth of goods (25% to 30%) from October 1st to October 15th, he tweeted.

The US and China have also earlier agreed that they will start the trade negotiations again in October.

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China to make a complaint over US tariffs to WTO – stocks down

The US stocks were declining on Tuesday trading, when the Chinese government said it has made a complaint to the World Trade Organisation over US tariffs.

The S&P 500 dropped 0.5% shortly, while the Dow Jones Industrial Average lost nearly 1 % to 26146 points and he Nasdaq Composite fell 0.38% 7932 points.

Also the European indexes closed down: Dax-index -0,14 % to 11936 points, FTSE 100 -index -0,26 % to 7262 points and CAC 40 -index -0,33 % to 5479 points.

The U.S. imposed new tariffs on Chinese goods including clothing, tools and electronics on last Sunday as Chinese tariffs also took effect.

“We expect there will be continued volatility in the market over the next 30 to 60 days, said one market analyst according to Wall Street Journal.

 

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US to delay some tariffs with China – stocks up

The US Trade Administration has delayed some tariffs with China. Tariffs, which were about to come into force in September, are now delayed until mid December. The goods, valued at 300 billion dollars, are related to some electronics, toys and clothings.

The US financial markets jumped after the news and Dow Jones -index is trading up 1,6 % and Nasdaq nearly 1,9 % up. The larger S&P 500- index is also trading up, 1,5 % and the Brent oil future is having over 5 % increase. Euro is trading at 1,12 dollars.

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China asks US to meet halfway in trade talks

China has asked the US to meet in halfway in order to salvage the countries trade deal. According to Reuters, the Chinese government spokesperson from the Commerce Ministry,  Mr. Geo Fend told media representatives about their proposal in Beijing today.

– The US side has given many labels recently, backtracking. China sets great store on trustworthiness and keeps its promises and this has never changed, he told today and said that China has asked the US to meet in halfway.

The US has said it will rise tariffs related to chemicals, building materials, furnitures and consumer electronics, if the trade negotiations fail. The new tariffs would come into effect on Friday at 12.01 am (0401 GMT) if not agreed before. The tariffs would concern around 200 billion dollars worth of Chinese goods.

The global stock markets have declined because of the situation and it is widely expected that the sell-off will continue in risk assets tomorrow if there is no agreement or settlement.

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Stock markets decline before the Friday deadline in trade tariffs

The global stock markets were on sell-side and declined before the approaching deadline of the  US-China trade tariffs on Friday. The Wall Street opened by over 1 % decline today. Dow Jones was down 1,22 % to 25 649 points, S&P 500 index was down 1,13 % to 2847 points and technology index Nasdaq down 1,46 % to 7827 points.

In Europe the FTSE 100 index was down 0,65 % to 7223 points in London, the CAC 40-index was down 1,63 % to 5239 points in France and German DAX index down 1,30 % to 12021 points.

The euro was trading  at 1,11 dollars, the dollar was trading at 112 yens and sterling at 1,29 dollars. The yen climbed somewhat against dollar while the investors sought heavens before the Friday deadline.

According to Bloomberg News, the US trade deficit with China decreased to 28,3 billion dollars in March. If the trade talks fall, the US is said to lift the tariffs of Chinese goods valued 200 billion dollars to 25 % from 10 %.

Friday is also the IPO day for the US ride-hailing company Uber. It is expected that the listing the company is one of the biggest tech IPOs since Facebook and the company value is estimated to be around 90 billion dollars.

 

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Trump will delay the China trade tariffs deadline

The US President Donald Trump said on Sunday, that US will delay the China trade tariffs increase. According to him the trade talks have been productive.

-I will be delaying the US increase in tariffs for March 1. Assuming both sides make additional progress, we will be planning a Summit for President Xi and myself at Mar-a-Lago to conclude an agreement, he said in a Twitter tweet.

This was a relief for many stock market traders and the Asian stocks climed and the Chinese yuan rose against dollar during the trading day. The Japanese yen was little changed at 110,62 dollars.

The stock markets in Shanghai were up by 3,32 % to 3034 points and CSI-index by 3,55 % to 3644 points. HangSeng in HongKong was up 0,25 % to 28 888 points and the Nikkei 225-index was up 0,47 % to 21 525 points in Tokyo. The South Kospi-index was down 0,01 % to 2230 points.

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