Here's an unexpected wrinkle in Trump's endless game of Tariff Chicken with China: The White House on Tuesday announced it would hold off on imposing new tariffs of a raft of Chinese imports, including cell phones, laptops, and video game consoles, from the originally scheduled deadline of September 1 until December 15. China vows to counter the latest round of tariffs that will total $300 billion once fully implemented.
Trump suggested in tweets Wednesday evening that he and President Xi Jinping should meet in what would be their first encounter since June, when two two sides agreed to a truce that restarted negotiations. Chiefly, the USA has narrowed the list of Chinese products it plans to impose new tariffs on as of September 1.
China responded by saying that they do not want external advice on how to deal with Hong Kong. The U.S. Treasury yield curve inverted for the first time since 2007 - a possible recession signal - after China's industrial output growth hit a 17-year low in July and Germany reported a second-quarter contraction in gross domestic product output.
"This report also answers the question of whether China viewed the decision to delay half of the tariff hikes until mid-December as being conciliatory in any way or just an act of self-preservation, given the importance of the holiday season in the U.S".
Taipei photo event backs Hong Kong's protesters
In a statement, Cathay said it suspended a pilot from flying who had been detained while participating in a protest . Protesters setup barricade on a street during a demonstration in Tai Wan on August 10, 2019 in Hong Kong, China.
Trump should affirm American power and prestige in the face of Chinese accusations of conspiracy. Trump said last month that he would end preferential trade treatment for India, which would result in United States tariffs on up to $5.6 billion of imports from India. "That we've been seeing climbing over the last nine-to-12 months". But they say it's unclear whether Trump will be able to seize the public's growing concerns about China to his advantage.
"The bond market rally is as much a global story as a USA one, and yesterday it was weak data in Asia and Europe that dragged United States yields down", Kit Juckes, a strategist at Societe Generale SA, wrote in a note. "So far they've had virtually none".
A less visible risk of this trade war is the real possibility that China could retaliate by refusing to sell American companies rare earth minerals. "I doubt the Chinese side will resume large-scale purchase of US farm goods under the current circumstances", he said.
"I would urge restraint among those who have been engaged in violent behaviour over the past few days and I think we need to restore some calm to Hong Kong and proceed with dialogue". For the first time since the run-up to the Great Recession, the yields - or returns - on short-term US bonds eclipsed those of long-term bonds. But that shouldn't stop Trump from doing what past presidents considered a basic job requirement: speaking up for democracy. He said without that, Trump's track record of agreements with Canada, Mexico and South Korea looks "pretty meager" for a leader who made trade a cornerstone of his 2016 election campaign.
Four demonstrations unsanctioned by the police are slated for Saturday as the semi-autonomous territory is set to enter its 11th week of anti-government protests amid a political crisis that was sparked by a now-shelved bill to allow criminal suspects to be sent to mainland China for trial.