The recent ratcheting up of U.S.-China trade tensions is creating uncertainties for businesses and could threaten economic growth, four Federal Reserve policymakers said on Thursday.
A host of U.S. consumer companies have warned that costs related to tariffs on goods imported from China would weigh on their results.
U.S. stocks slumped on Thursday as investors dumped shares of technology companies as well as businesses in cyclical sectors on fears that the escalating trade war between United States and China would stymie global economic growth.
World shares skidded further on Thursday and oil prices slid more than 5% as investors worried the China-U.S. trade spat was turning into a technology cold war between the world’s two largest economies, boosting the dollar and sending benchmark government debt yields down.
Oil prices plunged on Thursday, losing about 5% as trade tensions dampened the demand outlook, putting the crude benchmarks on course for their biggest daily and weekly falls in six months.
The newest round of U.S. tariffs on Chinese imports will cost the typical American household $831 annually, researchers said on Thursday, as the Trump administration came under growing political pressure over its trade war with China.
The Trump administration on Thursday unveiled a $16 billion farm aid package to offset losses from a 10-month trade war with China and said payment rates to farmers would be determined by where they farm rather than what crops they grow.
Uncertainty over U.S.-China trade, including how long recently increased tariffs will stay in place and if and how trade tensions will get resolved, is holding businesses back from investments and could slow growth if continued, four Federal Reserve policymakers said on Thursday.
Oil prices plunged about 5% on Thursday, with U.S. crude at its lowest since March, as trade tensions dampened the demand outlook, putting the crude benchmarks on course for their biggest daily and weekly falls in six months.
The world’s biggest clothing retailer Inditex said on Thursday it would split its current dual role of chief executive and chairman, leaving Pablo Isla leading the company as chairman and appointing COO Carlos Crespo as the new CEO.
Sales of new U.S. single-family homes fell from near an 11-1/2-year high in April as prices rebounded and manufacturing activity hit its lowest level in almost a decade in May, suggesting a sharp slowdown in economic growth was underway.
Once regulators approve Boeing Co’s grounded 737 MAX jets for flight, each aircraft will likely require between 100 and 150 hours of preparation before flying, officials from the three U.S. airlines that operate the MAX told Reuters.
German shipping firm Bernhard Schulte Shipmanagement (BSM) has moved to legally detain three of Venezuelan PDVSA’s oil tankers to collect on late payments owed to it by the state-run oil company, according to a document seen by Reuters and sources close to the decision.
U.S. stock indexes slumped 2% on Thursday, as investors dumped technology, industrial and energy stocks on fears that a spiraling trade war between the United States and China would shackle global growth.
The U.S. Department of Agriculture said on Thursday that farmers will receive $14.5 billion in direct payments as part of a $16 billion aid package designed to offset the financial pain from trade disputes with China and other nations.
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