White House economic adviser Larry Kudlow warned China after it announced retaliatory tariffs on $60 billion worth of U.S. goods on Friday, saying Beijing should not underestimate U.S. President Donald Trump’s determination to act on trade.
China’s Unipec, the trading arm of state oil major Sinopec, has suspended crude oil imports from the United States due to a growing trade spat between Washington and Beijing, three sources familiar with the situation said on Friday.
U.S. job growth slowed more than expected in July as employment in the transportation and utilities sectors fell, but a drop in the unemployment rate suggested that the labor market was tightening.
China on Friday announced retaliatory tariffs on $60 billion worth of U.S. goods ranging from liquefied natural gas (LNG) to some aircraft and warned of further measures, signaling that it won’t back down in a protracted trade war with Washington.
The U.S. trade deficit recorded its biggest increase in more than 1-1/2 years in June as the boost to exports from soybean shipments faded and higher oil prices lifted the import bill.
U.S. job growth slowed more than expected in July likely due to companies’ struggles to find qualified workers and the unemployment rate declined, pointing to tightening labor market conditions.
U.S. job growth slowed more than expected in July, likely due to companies’ struggles to find qualified workers, and the unemployment rate declined, pointing to tightening labor market conditions.
U.S. stock index futures gave up early gains to trade flat on Friday after data showed U.S. job growth slowed more than expected in July.
China’s Commerce Ministry said on Friday that Beijing’s new set of proposed import tariffs on $60 billion worth of U.S. goods are rational and restrained and warned that it reserves the right of further countermeasures in the intensifying trade war.
World stocks climbed on Friday, driven by a combination of strong earnings and a rally in the technology sector after Apple became the world’s first trillion dollar company, although worries over a global trade dispute kept a lid on gains.
Velveeta cheese maker Kraft Heinz Co topped quarterly profit and revenue estimates as the company raised prices of its products and posted higher-than-expected sales in the United States, sending its shares up 7 percent in premarket trading.
The main UK subsidiary of Amazon.com Inc had a tax bill of 1.7 million pounds ($2.21 million) on profits of 72.4 million pounds in 2017 thanks to deductions related to share-based awards to staff, accounts published this week show.
World stocks drifted lower on Friday as the latest exchange of trade threats between the United States and China dampened risk appetite, while Italian bonds and shares in the country’s banks sold off on signs of renewed government tensions in Rome.
U.S. stock index futures rose slightly on Friday ahead of the July jobs report, while the ongoing trade dispute between the United States and China weighed on investor sentiment.
Audi has stepped up production ahead of a September deadline when it becomes harder to register vehicles as roadworthy, the German premium carmaker said on Friday.
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