After more than six years of negotiations, more than a dozen countries in Asia Pacific are now aiming to sign what would be the world’s largest trade agreement in 2020.
Asia Economy
A 15% tariff on a total of $112 billion of Chinese goods are set to go into effect at midnight
Tariffs on $112 billion of Chinese goods are set to go into effect at midnight ET. While some duties have been delayed and some items have been removed from the original list of $300 billion Chinese imports, many everyday grocery items and household staples will still be targeted beginning Sunday, according to an official list that spans 122 pages.
Mnuchin says US-China Trade Deal is 90 Percent Done – Gold Silver Reports
Gold Silver Reports (GSR) – Treasury Secretary Steven Mnuchin said Wednesday that the U.S. and China are inching closer to finalize a long-awaited trade deal.
Brexit – When is the UK due to leave the EU?
Prime Minister Theresa May today called on the European Union for “one more push” to strike a Brexit compromise deal and told MPs that rejecting the agreement could mean Britain never leaves.
The Trump-Kim Summit in Vietnam has been cut short, no Agreement was Reached
The White House said Thursday that the nuclear summit between U.S. President Donald Trump and North Korean leader Kim Jong Un was cut short and no agreement was reached.
China Trade Deal ‘Fails’ if Washington Doesn’t Win Enforcement Measures
That comes as Chinese negotiators ready for the next round of trade talks, set to begin Tuesday in Washington.
Russia has reportedly agreed to cut 200,000 bpd, clearing a hurdle for OPEC to agree to specific reductions.
Russia has reportedly agreed to cut 200,000 bpd, clearing a hurdle for OPEC to agree to specific reductions.
OPEC source says Iran has agreed to OPEC deal: RTRS
OPEC source says OPEC to cut around 800 kbpd- RTRS
The Saudis have been leading calls for the group to trim output, amid surging supply and fears that an economic slowdown will erode fuel demand. The oil-rich kingdom has previously indicated it wants the group to curb output by at least 1.3 million barrels per day (bpd).
Trump is Showing He ‘Actually Wants’ a Trade Deal With China, Stanford Expert Says
Trump’s Thursday Twitter post is evidence of that, Lanhee Chen, a research fellow at the Hoover Institution, told CNBC on Friday. In fact, he said, the tweet — about a “long and very good conversation” with China’s president — is one of several “smoke signals” that show the White House truly hopes to resolve its ongoing dispute with the world’s second-largest economy.
Breaking News – China Reports Lower Than Expected Manufacturing Growth in October
China reported slower manufacturing growth in October for the second straight month as the country’s trade war dispute with the U.S. continues.
Goldman Can’t Rule Out U.S. Naming China a Currency Manipulator
Though China doesn’t meet the three official criteria, the Treasury Department could still accuse the Asian nation if it found that China was manipulating the yuan for trade purposes, Goldman notes. While not the bank’s base case, given that currency matters have played a “central role” in the U.S.-China trade standoff, a formal declaration isn’t unfathomable.