The dollar fell on Friday as U.S. tariffs on Chinese imports took effect, but a muted reaction in currency markets suggested the escalation had largely been priced in by investors focusing on a U.S. jobs report due later in the day.
The imposition of tariffs by the United States and China on billions of dollars of trade was absorbed calmly by markets on Friday with stocks edging higher and the euro climbing a three-week peak, but concerns about the conflict escalating capped gains.
U.S. tariffs on $34 billion in Chinese imports took effect as a deadline passed on Friday, with Beijing saying it had no choice but to respond in kind, as the two trading giants escalated a bitter row.
China’s Foreign Ministry said on Friday that Beijing has already begun implementing tariffs on some U.S. goods in retaliation for U.S. duties on $34 billion in Chinese imports, which took effect the same day.
China’s retaliatory tariffs on $34 billion worth of U.S. goods took effect at 12:01 p.m. in Beijing (0401 GMT) on Friday, the official Xinhua news agency said, citing the customs office.
BEIJING/WASHINGTON (Reuters) – U.S. tariffs on $34 billion in Chinese imports took effect as a deadline passed on Friday, with Beijing saying it had no choice but to respond in kind, as the two trading giants escalated a bitter row.
HONG KONG (Reuters) – China’s HNA Group said it has made co-founder Chen Feng its sole chairman after fellow chairman Wang Jian died this week, moving to calm concerns about leadership amidst the conglomerate’s efforts to slash its massive debt burden.
BEIJING (Reuters) – Ford Motor Co’s China vehicle sales slumped 38 percent in June from a year earlier to 62,057 vehicles, the company said on Friday.
SHANGHAI/TOKYO (Reuters) – Asian stocks bounced back from 9-month lows in volatile trade on Friday after Washington slapped tariffs on Chinese imports, a move many investors fear could be the start of a full-scale trade war between the world’s two largest economies.
LONDON (Reuters) – Airbus on Friday raised its forecast for aircraft demand over the next 20 years and shook up the way it predicts aircraft demand, introducing new categories from ‘Small’ to ‘Extra-Large’ and blurring the traditional boundaries between aircraft types.
LONDON (Reuters) – U.S. satellite group EchoStar said on Friday it was seeking engagement with the board of Inmarsat after the British firm rejected its latest takeover offer worth $3.2 billion to equity holders.
LONDON (Reuters) – AstraZeneca suffered its biggest daily share price drop a year ago after a key cancer drug trial failed amid feverish speculation the chief executive might quit.
Asian markets erased early losses, bouncing back Friday back as investors responded with calm to increased U.S. tariffs on Chinese imports that took effect midnight Washington time. Shanghai stocks jumped … …read more […]
BEIJING/WASHINGTON (Reuters) – U.S. tariffs on $34 billion in Chinese imports took effect as a deadline passed on Friday, and with Beijing having vowed to respond immediately in kind, the world’s two biggest economies took a high-stakes turn toward all-out trade conflict.
SHANGHAI/TOKYO (Reuters) – Asian stocks wobbled on Friday, as Washington slapped tariffs on Chinese imports, a move many investors fear could be the start of a full-scale trade war between the world’s two largest economies.
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