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Full-on trade war: Trump jacks up tariffs on $550bn of Chinese goods, blasts ‘unfair’ response

2 hours ago DieselGasoil Comments Off on Full-on trade war: Trump jacks up tariffs on $550bn of Chinese goods, blasts ‘unfair’ response
US President Donald Trump has announced yet another major hike of existing and future tariffs on some $550 billion in Chinese goods, criticizing Beijing’s attempt to offset the losses as ‘unfair’ and ‘politically motivated.’ Duties on $250 million worth of Chinese goods already taxed at 25 percent will increase to 30 percent starting on October Read More

US to raise tariffs on $550 billion of Chinese imports by 5 percentage points: Trump

3 hours ago DieselGasoil Comments Off on US to raise tariffs on $550 billion of Chinese imports by 5 percentage points: Trump
Washington — The US will raise the tariff on $250 billion worth of Chinese imports from 25% to 30% on October 1, and raise the current 10% tariff on another $300 billion of Chinese imports to 15% on September 1, President Trump tweeted late Friday. Not registered? Receive daily email alerts, subscriber notes & personalize Read More

Trump heaps another 5% tariff on Chinese goods in latest tit-for-tat escalation

3 hours ago DieselGasoil Comments Off on Trump heaps another 5% tariff on Chinese goods in latest tit-for-tat escalation
WASHINGTON/BEIJING (Reuters) – U.S. President Donald Trump on Friday lashed back at a new round of Chinese tariffs by heaping an additional 5% duty on some $550 billion in targeted Chinese goods in the latest tit-for-tat trade war escalation by the world’s two largest economies. FILE PHOTO: Containers are seen at the Yangshan Deep Water Read More

Trump hikes existing & future tariffs on Chinese goods in major trade war escalation

4 hours ago DieselGasoil Comments Off on Trump hikes existing & future tariffs on Chinese goods in major trade war escalation
US President Donald Trump has announced further tariffs on $250 billion in Chinese goods, upping existing 25 percent duties to 30 percent. Another $300 billion in goods due to be taxed at 10 percent will be taxed at 15 percent. The 25 percent tariff is already in effect, and will become a 30 percent tariff Read More

Oil spills into U.S.-China trade war, prices slump

4 hours ago DieselGasoil Comments Off on Oil spills into U.S.-China trade war, prices slump
NEW YORK (Reuters) – China on Friday said it would impose tariffs on U.S. crude oil imports for the first time, sending prices down nearly 4% to two-week lows as the escalating bilateral trade war fed worries over a slowdown in global oil demand. Pumpjacks are seen during sunset at the Daqing oil field in Read More

Fed’s commitment to act upstaged by Trump’s furor

5 hours ago DieselGasoil Comments Off on Fed’s commitment to act upstaged by Trump’s furor
JACKSON HOLE, Wyo. (Reuters) – Federal Reserve Chair Jerome Powell said the central bank would “act as appropriate” to keep the U.S. economy healthy, stopping short of committing to rapid-fire rate cuts and drawing fire from President Donald Trump. Powell’s words were barely out of his mouth when Trump ratcheted up his war of words Read More

Oil declines as China plans tariffs on imported US crude, escalating trade fight

5 hours ago DieselGasoil Comments Off on Oil declines as China plans tariffs on imported US crude, escalating trade fight
New York — Oil settled lower Friday amid renewed concerns that spiraling US-China trade tensions could blunt global energy demand growth. Not registered? Receive daily email alerts, subscriber notes & personalize your experience. Register Now NYMEX October WTI settled down $1.18 at $54.17/b, and ICE October Brent was 58 cents lower on the day at Read More

Made in USA: Trump calls on American firms to abandon China

6 hours ago DieselGasoil Comments Off on Made in USA: Trump calls on American firms to abandon China
By Ganesh Rao, business reporter President Donald Trump has furiously responded to China’s decision to impose new retaliatory tariffs on American goods. In a series of tweets, Mr Trump said he was ordering US companies to look at ways to close their operations in China and make more of their products in the United States Read More

TC Energy’s Keystone XL moves closer to 2020 construction with Nebraska ruling

6 hours ago DieselGasoil Comments Off on TC Energy’s Keystone XL moves closer to 2020 construction with Nebraska ruling
Houston — TC Energy’s hope to start construction on the 830,000 b/d Keystone XL heavy oil pipeline in 2020 took a step forward Friday with a favorable ruling from the Nebraska Supreme Court, one of the final legal obstacles facing the project after US President Trump granted a permit. Not registered? Receive daily email alerts, Read More

Trump calls on U.S. firms to exit China as trade war escalates

6 hours ago DieselGasoil Comments Off on Trump calls on U.S. firms to exit China as trade war escalates
WASHINGTON/BEIJING (Reuters) – President Donald Trump on Friday pressured U.S. companies to leave China after Beijing unveiled retaliatory tariffs on $75 billion in U.S. goods, stoking fears their escalating trade war will tip the global economy into recession. FILE PHOTO: U.S. President Donald Trump and China’s President Xi Jinping pose for a photo ahead of Read More