Attack on Saudi Aramco’s processing facility in Abqaiq pushed crude prices up more than 14% Monday.
Starting Sept. 1, the U.S. government began collecting 15% on US$112 billion in Chinese imports, on a wide array of merchandise including basketball jerseys, basketball shoes, basketballs and even hoops.
A long-sought trade agreement with Japan was scrapped when Trump withdrew the U.S. from a pan-Pacific trade agreement shortly after taking office in 2017.
Despite the improvement, manufacturers will likely continue to struggle.
Warhawk John Bolton has been turfed out as Trump’s national security adviser, leaving the US president to handle some very difficult situations largely alone.
Officials will “conduct conscientious consultations” in mid-September to prepare.
Exports to the United States, China’s biggest market, fell 6.5% in July.
CBO says the US fiscal outlook is challenging, and on “an unsustainable course.”
Exports of beef, pork, canola and soybeans have largely been locked out of the massive Chinese market.
Still planning to go ahead with 10% tariffs on about US$300 billion in Chinese imports.
Talks could start with areas where the two sides are likely to agree.
US remains committed to respecting whatever Britain’s final decision on Brexit is and is eager to conclude a trade deal.
Uncertainty leads companies to postpone plans to invest, expand and hire, trends that can trigger a severe economic downturn.
A weaker yuan might disrupt Chinese efforts to shore up cooling economic growth.
Trump is tweeting his frustration as negotiations between the countries resume.