WEATHER ALERT
Trump or Biden? Either way, US seems poised to preserve heavy tariffs on imports
Read full article: Trump or Biden? Either way, US seems poised to preserve heavy tariffs on importsPresident Joe Biden and Donald Trump agree on essentially nothing, from taxes and climate change to immigration and regulation.
Packages from China are surging into the United States. Some say $800 duty-free limit was a mistake
Read full article: Packages from China are surging into the United States. Some say $800 duty-free limit was a mistakeConservatives in Congress are anxious to counter China, which is America’s leading economic adversary.
US will delay tariff hike on Chinese-made cellphones, toys
Read full article: US will delay tariff hike on Chinese-made cellphones, toysCNNMoney/Shutterstock(CNN) - The top US trade negotiator on Tuesday said that new tariffs on $300 billion in Chinese-made consumer goods including cell phones, toys and video game consoles would be delayed until December 15. President Donald Trump said earlier this month that he would add a 10% tariff on an additional $300 billion of Chinese-made products on September 1, which would effectively put a tax on all Chinese goods coming into the United States. Last year, Trump imposed tariffs on about $250 billion in Chinese-made goods, targeting industrial materials and components. "Trade talks are continuing, and during the talks the U.S. will start, on September 1st, putting a small additional tariff of 10% on the remaining 300 billion dollars of products coming from China into our country," he tweeted at the time. In a statement Tuesday, the Office of the US Trade Representative said that it was also recommending a delay in the tariff for certain products based on health, safety and national security reasons.
Asian stocks trade higher ahead of Bank of Japan decision, trade talks
Read full article: Asian stocks trade higher ahead of Bank of Japan decision, trade talksKiyoshi Ota/Getty ImagesTOKYO - Asian stocks traded modestly higher Tuesday. South Korea's Kospi rose 0.2%. Here are some of the other big moves on Asian markets at 10:30 a.m. Hong Kong time. Hong Kong is set to announce its second-quarter GDP figures later this week. On Monday, Hong Kong stocks closed 1% lower.
Pyongyang missile launches, South Korean shares fall
Read full article: Pyongyang missile launches, South Korean shares fallSpencer Platt/Getty Images(CNN) - South Korean shares fell in early trade on Thursday after North Korea launched two unidentified projectiles. The Kospi index fell 0.8% after the country's military said that Pyongyang had launched two projectiles toward the East Sea, also known as the Sea of Japan. The market losses came despite a stronger-than-expected rebound in South Korea's economy in the second quarter. GDP rose by 1.1% following a surprise contraction in the first three months of the year, according to data published Thursday. South Korea missed out on modest gains across other Asian markets, which were drawing support from confirmation of new US-China trade talks and hopes of central bank stimulus.