Business & Finance News
Oil prices fell on Friday after China unveiled retaliatory tariffs against about $75 billion worth of U.S. goods including crude oil, another escalation of a protracted trade dispute between the world’s two largest economies.
The Trump administration is considering ramping up biofuel blending quotas in the coming years to assuage anger in the Farm Belt over its recent broad use of waivers for small refineries, but is not planning to rescind any of the exemptions it has granted so far, four sources familiar with the matter said.
It happened in 1989. It happened in 2002. Argentines who are old enough to remember do not want to go through it again.
Wall Street plunged in a broad sell-off on Friday as China and the United States traded their latest salvos in a prolonged trade war, spooking investors and erasing slight gains following a generally positive speech by U.S. Federal Reserve chair Jerome Powell.
The U.S. National Retail Federation (NRF) said on Friday it is “unrealistic” for American retailers to move out of China, the world’s second-largest economy, as 95% of the world’s consumers live outside the United States.
United Parcel Service Inc and FedEx Corp on Friday said they already work closely with law enforcement to stop illegal shipments from entering the country, after U.S. President Donald Trump called on delivery firms to refuse packages of synthetic opioid fentanyl from China.
U.S. stock indexes slumped nearly 2% on Friday after President Donald Trump told U.S. companies they should look for ways to close their China operations, following Beijing’s announcement that it would impose retaliatory tariffs on U.S. goods.
China on Friday threatened to impose tariffs on U.S. crude oil imports for the first time, sending prices down nearly 4% to two-week lows as the escalating bilateral trade war fed worries over a slowdown in global oil demand.
U.S. President Donald Trump on Friday said he has ordered American companies to exit China after Beijing unveiled retaliatory tariffs on $75 billion in U.S. goods, throwing a new twist into the bitter trade war between the world’s two largest economies.
It’s a maxim for private investors: Don’t fight the Fed.
The U.S. Chamber of Commerce rebuffed President Donald Trump’s call Friday that U.S. businesses begin immediately looking for alternatives for operations in China after China said it was imposing new retaliatory tariffs.
Over the decades since World War Two the growth rates, inflation rates, interest rates and business cycles of the world’s major economies grew closer together.
Hopes for an early settlement of the yearlong U.S.-China trade war dimmed this week after the United States accused China of manipulating its currency, and U.S. President Donald Trump said he would not make a deal with Beijing for now.
Amazon.com Inc’s Audible was sued by some of the top U.S. publishers for copyright infringement on Friday, aiming to block a planned rollout of a feature called ‘Audible Captions’ that shows the text on screen as a book is narrated.
The Federal Reserve will “act as appropriate” to keep the U.S. economy healthy, Fed Chair Jerome Powell said on Friday, remarks that did not say how fast it might cut interest rates, drawing fire from President Donald Trump.
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