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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

Fed’s Clarida says global economy has worsened since July: CNBC

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Federal Reserve Vice Chair Richard Clarida reacts as he holds his phone during the three-day “Challenges for Monetary Policy” conference in Jackson Hole, Wyoming, U.S., August 23, 2019. REUTERS/Jonathan Crosby (Reuters) – U.S. Federal Reserve Vice Chairman Richard Clarida said on Friday the global economic outlook has worsened since July. “The global economy is slowing Read More

Dow Jones tanks 600+ points as Trump trades barbs with Beijing and the Federal Reserve

5 hours ago DieselGasoil Comments Off on Dow Jones tanks 600+ points as Trump trades barbs with Beijing and the Federal Reserve
The Dow Jones saw a steep drop of 700 points after a threat from Beijing to slap new tariffs on billions of dollars in American goods, and a harsh response from US President Donald Trump, but picked up before ending 621 down. The precipitous fall in the Dow on Friday came after China unveiled its Read More

Dow Jones tanks 700+ points as Trump trades barbs with Beijing and the Federal Reserve

6 hours ago DieselGasoil Comments Off on Dow Jones tanks 700+ points as Trump trades barbs with Beijing and the Federal Reserve
The Dow Jones saw a steep drop of 700 points following a threat from Beijing to slap new tariffs on billions of dollars in American goods – and a harsh response from US President Donald Trump – amid an ongoing trade dispute. The precipitous fall in the Dow on Friday came after China unveiled its 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

China places first-time tariff on U.S. crude

9 hours ago DieselGasoil Comments Off on China places first-time tariff on U.S. crude
By Jessica Summers and Sheela Tobben on 8/23/2019 NEW YORK (Bloomberg) – Crude plunged to a two-week low after China announced tariffs on U.S. crude oil for the first time as the trade war between the world’s biggest economies escalated. Futures fell as much as 3.5% in New York on Friday, erasing this week’s gain. Read More

Powell stops short of committing to rate cuts, and Trump fumes

9 hours ago DieselGasoil Comments Off on Powell stops short of committing to rate cuts, and Trump fumes
JACKSON HOLE, Wyo. (Reuters) – The Federal Reserve will “act as appropriate” to keep the U.S. economy healthy, Fed Chair Jerome Powell said on Friday, remarks that did not say how fast it might cut interest rates, drawing fire from President Donald Trump. FILE PHOTO: Federal Reserve Chair Jerome Powell holds a news conference following Read More

Oil sinks as China places first-time tariff on U.S. crude

10 hours ago DieselGasoil Comments Off on Oil sinks as China places first-time tariff on U.S. crude
By Jessica Summers and Sheela Tobben on 8/23/2019 NEW YORK (Bloomberg) – Crude plunged to a two-week low after China announced tariffs on U.S. crude oil for the first time as the trade war between the world’s biggest economies escalated. Futures fell as much as 3.5% in New York on Friday, erasing this week’s gain. Read More

China strikes back at U.S. with new tariffs on $75 billion in goods

11 hours ago DieselGasoil Comments Off on China strikes back at U.S. with new tariffs on $75 billion in goods
BEIJING (Reuters) – China said on Friday it will impose retaliatory tariffs against about $75 billion worth of U.S. goods, putting as much as an extra 10% on top of existing rates in the dispute between the world’s top two economies. FILE PHOTO: A U.S. flag on an embassy car is seen outside a hotel Read More

Seeking clarity from Fed’s Powell? Good luck with that

20 hours ago DieselGasoil Comments Off on Seeking clarity from Fed’s Powell? Good luck with that
JACKSON HOLE, Wyo. (Reuters) – When Federal Reserve Chair Jerome Powell speaks in Jackson Hole, Wyoming, on Friday, traders will comb through his remarks for clues on whether the U.S. central bank will deliver more rate cuts this year. FILE PHOTO: Federal Reserve Chair Jerome Powell holds a news conference following the Federal Reserve’s two-day Read More