A Step Backward by Nancy OhanianRussia isn't one of the biggest holders of U.S. Treasury bonds-- and they became a much smaller holder recently. The Treasury report for April has published about a week ago and it showed that Russia sold about half it's holdings-- $47.4 billion out of the $96.1 it held. Russia had already sold off $9.3 billion in February and another $1.6 billion in March.
Something like 9,000 of barrels of bourbon were destroyed in a Kentucky warehouse crash Friday. I wonder if insurance will cover the damages. Maybe the company was lucky... since bourbon is one of the U.S.
US president Donald Trump’s ‘beautiful’ trade war with China is going great, if market drops, loss of investment, volatility, and price hikes are how one measures ‘winning’.
After all, Trump said that trade wars are ‘easy to win’ and sometimes necessary.
Now he’s got one, but the figures are returning the sort of results that one would typically associate with ‘winning’ or ‘success’.
This morning the NY Times reported that Señor Trumpanzee seems somehow consoled that in a trade war the Chinese will lose more than we will.
BEIJING – Tremendous; great, incredible and tremendous; very historic, and very, very comprehensive. Such were the terms U.S. President Donald Trump used to praise last Tuesday’s summit with North Korean leader Kim Jong-un, and he was far from alone in welcoming what appeared to be a major breakthrough in burying the memory of nuclear crisis on the Korean peninsula.
Today, Lloyd Blankfein, CEO of Goldman Sachs, told a Bloomberg editor at the Economic Club of New York that he thinks Señor Trumpanzee is just bluffing about starting a trade war. "That’s what you’d do if it was a negotiating position and you wanted to remind your negotiating counterparty of how much firepower you have.
The Trump White House formally announced the list of Chinese products to be hit with tariffs.
The US will implement 25% tariff on $50 Billion in Chinese imports, representing 1,102 product lines with the list of imported goods among those listed on China’s 2025 plan.
The US tariffs against China will be implemented in two tiers.
The first tier on July 6th will cover $34 Billion in imports. A second tier will cover the remaining $16 Billion, or 284 product lines.
(ZHE) — It’s all about the trade war between the US and China this morning, and more specifically, how will Xi retaliate to Trump. For those who missed the overnight fireworks, late on Monday, President Trump asked the US Trade Representative to identify USD 200BN in Chinese goods for further tariffs of 10% which will be imposed […]
Asian markets are taking a hit as Trump announces that he intends to expand the list of tariffs on Chinese exported goods. Trump continues to slam China over the trade deficit between China and the US and his displeasure with Chinese countermeasures to tariffs that he has imposed on them. Apparently, in Trump’s world, he can tariff other countries, but they can’t respond in kind.
Associated French Press reports:
America continues to increase its debt to unsustainable levels and public benefits coffers run up against funding shortfalls, but that doesn’t slow down a growing defense budget, or foreign aid package to nations which are routinely involved in egregious human rights violations and often serve as a contentious force in a region, the Middle East, becoming ever more destabilized, also at the hand of Washington’s politicians, whether on the right or left.
