Stephen Mancebo, a fourth-generation California dairy farmer with 2,300 cows, has battled ups and downs in his temperamental industry for a quarter-century only to find himself a casualty of a U.S trade war with one of his biggest customers – Mexico.
The ability of the U.S. stock market to keep an edge this year over equities elsewhere in the world hinges on the United States maintaining its economic and earnings growth advantage, the strength of the dollar and how global trade tensions resolve, investors said.
U.S. President Donald Trump and the European Union’s chief executive, Jean-Claude Juncker, both expressed a desire on Wednesday to cut tariffs and ease trade transatlantic trade tensions as a high-stakes White House meeting got underway.
The United States sought to woo Europe and Japan with free trade deals on Saturday to gain leverage in an escalating tariff war with China but its overtures faced stiff resistance from France at a G20 finance ministers meeting dominated by trade tensions.
Chinese importers of the livestock feed sorghum feasted on tabbouleh salad and chipotle tortillas made with the U.S. grain at a Texas barbecue this week, as farmers try to woo buyers in the middle of an escalating U.S.-China trade war.
The Chinese yuan skidded to one-year lows on Friday, shaking up Asian share markets and stoking concerns Beijing’s currency management could become the next flash point in a fierce trade dispute with the United States.
China said on Thursday comments made by a senior White House official blaming Chinese President Xi Jinping for blocking progress on a deal to avert a trade war were “shocking” and “bogus” accusations.
Japan’s exports to the United States fell for the first time in 17 months and Japanese business sentiment soured amid worries about U.S. President Donald Trump’s protectionist trade policies.
China is America’s second-biggest crude oil customer, making the burgeoning trade war a threat to soaring oil exports.
Business and financial news – CNNMoney.com
U.S. stocks fell on Wednesday, breaking a four-session streak of gains after Washington’s threat to impose tariffs on an additional $ 200 billion worth of Chinese goods fanned trade war fears, while a sharp drop in oil prices hit energy shares.
The Trump administration raised the stakes in its trade dispute with China on Tuesday, saying it would slap 10 percent tariffs on an extra $ 200 billion worth of Chinese imports, including numerous consumer items, sending stocks in Asia skidding.
U.S. stock indexes opened higher on Monday, on track for third day of gains in a row, after last week’s strong U.S. jobs data helped investors brush aside trade concerns.
The United States and China slapped tit-for-tat duties on $ 34 billion worth of each other’s imports on Friday, with Beijing accusing Washington of triggering the “largest-scale trade war” as the world’s two biggest economies sharply escalated their conflict.