News

Trade Wars

Reuters | Equities.com |

SHANGHAI (Reuters) - U.S. curbs on Chinese tech firms amid the intensifying Sino-U.S. battle for tech supremacy are feeding an investment boom across China’s semiconductor industry, driving prices of both publicly traded and venture-backed companies into bubble territory. Investors have pushed the share prices of the country’s 45 listed chipmakers to over 100 times the companies’ earnings, making semiconductors the priciest sector in the stock market. ...


Reuters | Equities.com |

(Reuters) - The United States is weighing its tariffs on European products and is considering changing rates for various products as part of the trading partners’ aircraft dispute, according to a notice by the Office of the U.S. Trade Representative.“In connection with this review, the U.S. Trade Representative is considering modifying the list of products of certain current or former EU member States that currently are subject to additional duties,” the filing posted late on Tuesday said....


Reuters | Equities.com |

WASHINGTON (Reuters) - Conflicting talk from Trump administration officials about “decoupling” the U.S. economy from China is running into a challenging reality: Chinese imports of U.S. goods are rising, investment by American companies into China continues, and markets are wary of separating the world’s biggest economies.White House trade adviser Peter Navarro gave Asian markets a scare on Monday night by telling Fox News Channel that the U.S.-China trade deal was “over.


AP News | Equities.com |

WASHINGTON (AP) — President Donald Trump is tweeting that an initial trade agreement with China is still on after a top White House adviser’s comments seemed to suggest it was over, spooking markets late Monday.Trump tweeted: “The China Trade Deal is fully intact. Hopefully they will continue to live up to the terms of the Agreement!”The Trump administration has been extremely critical of China’s efforts to contain the novel coronavirus early on and the president repeatedly blames Chin...


AP News | Equities.com |

TOKYO (AP) — Global shares rose Tuesday as investors appeared to look past reports of surging coronavirus cases in the U.S. and other countries to focus on evidence of economic recovery.European shares advanced after a measure of economic activity in the eurozone, the purchasing managers’ index, rose significantly in June from the month before. The index was just shy of the level that indicates the economy is growing again after a devastating plunge in the spring.France’...


Reuters | Equities.com |

WASHINGTON (Reuters) - The U.S. Supreme Court on Monday turned away a challenge to President Donald Trump’s tariffs on imported steel brought by an industry group that had argued that a key part of the law under which he imposed the duties violates the U.S. Constitution. The justices declined to hear the American Institute for International Steel’s appeal of a February ruling by the U.S. Court of Appeals for the Federal Circuit in favor of the administration. The institute is a pro-free tra...


Reuters | Equities.com |

(Reuters) - The United States will amend its prohibitions on U.S. companies doing business with China’s Huawei [HWT.UL] to allow them to work together in standards setting for next-generation 5G networks, according to people familiar with the matter.The U.S. Commerce Department and other agencies signed off on the rule change, and it is awaiting publication in the Federal Register, the people said.The Commerce Department did not immediately respond to requests for comment. A Huawei spokeswoman...


Reuters | Equities.com |

SAO PAULO (Reuters) - The United States is in talks with Brazil and its local telecommunications companies on funding the acquisition of fifth-generation gear produced by Ericsson and Nokia, U.S. ambassador for Brazil Todd Chapman told Brazilian newspaper Folha de S.Paulo. In an interview published on Thursday night, Chapman said this type of funding is a matter of “national security” to Washington and aims to “protect data and intellectual property, as well as sensitive information of ...


Reuters | Equities.com |

HSINCHU, Taiwan (Reuters) - Taiwan Semiconductor Manufacturing Co Ltd could quickly fill any order gap should U.S. restrictions against Huawei Technologies Co Ltd prevent sales to the Chinese firm, the company’s chairman said on Tuesday. TSMC’s clients include Huawei’s chip division HiSilicon. However, the U.S. blacklisting of Huawei over security concerns and trade disputes with China has left the world’s biggest contract chipmaker exposed to diplomatic developments between two countries where it also has production bases. The company last month unveiled plans for a $12 billion plant in the United States just hours before the U.S. Commerce Department outlined a proposal to amend chip export rules - a move that would restrict TSMC’s sales to Huawei.


AP News | Equities.com |

Wall Street paused on Thursday, and the S&P 500 fell for the first time in five days as stocks that had held steadiest through this year’s feverish swings gave back some of their gains. The S&P 500 lost 10.52 points, or 0.3%, to 3,112.35 after being on track earlier in the day for its longest winning streak since December. The Dow Jones Industrial Average rose 11.93 points, or less than 0.1%, to 26,281.82, and the Nasdaq composite fell 67.10, or 0.7%, to 9,615.81. A report showed that the number of U.S. workers filing for unemployment benefits eased for a ninth straight week, roughly in line with the market’s expectations. But economists saw pockets of disappointment after the total number of people getting benefits rose slightly. That number had dropped the prior week, which had raised hopes that some companies were rehiring workers. Many professional investors have been arguing that the stock market’s rally, which had reached nearly 40% since late March, was overdone and that a pullback was likely coming. Stocks began surging following massive aid for the economy from Washington. More recently, they’ve climbed on optimism that the recession created by the reaction to the coronavirus outbreak could end relatively quickly as states and countries lift lockdown restrictions.