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Reuters | Equities.com |

U.S. President Donald Trump’s trade war with China has caused a peak loss of 245,000 U.S. jobs, but a gradual scaling back of tariffs on both sides would boost growth and lead to an additional 145,000 jobs by 2025, a study commissioned by the U.S.-China Business Council (USCBC) shows.

The group, which represents major American companies doing business in China, said the study by Oxford Economics also includes an “escalation scenario” which estimates a significant decoupling of the world’s two largest economies could shrink U.S. GDP by $1.6 trillion over the next five years. This could result in 732,000 fewer U.S. jobs in 2022 and 320,000 fewer jobs by 2025, it said.


Reuters | Equities.com |

The Trump administration in its waning days took another swipe at China and its biggest firms on Thursday, imposing sanctions on officials and companies for alleged misdeeds in the South China Sea and imposing an investment ban on nine more firms.

The moves will further increase tensions with China, Washington’s strategic rival in Asia, days before President-elect Joe Biden takes office on Wednesday. The Biden transition team did not immediately respond to a request for comment.

Executives of state-owned enterprises, officials of the Chinese Communist Party and military, along with oil giant CNOOC will face new restrictions for allegedly using coercion against states with rival South China Sea claims.


AP News | Equities.com |

The U.S. trade deficit jumped to $68.1 billion in November, the highest monthly deficit in 14 years, as a surge in imports overwhelmed a smaller increase in exports.

The November gap between what America buys from abroad compared to what it sells abroad rose by 8% from the October deficit of $63.1 billion, the Commerce Department said Thursday.

The increase reflected a 2.9% increase in imports of goods and services to $252.3 billion on a se...


Reuters | Equities.com |

The New York Stock Exchange said on Wednesday it will delist three Chinese telecom companies, confirming its latest reversal on the matter a day after U.S. Treasury Secretary Steve Mnuchin told the NYSE chief he disagreed with an earlier decision to reverse the delistings.

The latest move, which is effective Jan. 11, marks the third time in less than a week the Big Board has ruled on the matter. The flip-flopping highlights the confusion over which firms were included in an executive order issued by President Donald Trump in November barring U.S. persons from investing in publicly traded companies Washington deems to be tied to the Chinese military.


Reuters | Equities.com |

U.S. President Donald Trump on Tuesday signed an executive order banning transactions with eight Chinese software applications, including Ant Group’s Alipay, the White House said, escalating tensions with Beijing before President-elect Joe Biden takes office this month.

The order, first reported by Reuters, tasks the Commerce Department with defining which transactions will be banned under the directive and targets Tencent Holdings Ltd’s QQ Wallet and WeChat Pay as well.


Reuters | Equities.com |

U.S. jeweler Tiffany & Co said it reported record sales for the 2020 holiday period as consumers stuck at home shopped more online and shoppers in China spent more on jewelry.

The company, which will soon be bought by France’s LVMH , said its overall preliminary net sales rose about 2% for the period Nov. 1 through Dec. 31, compared with a year earlier, with e-commerce sales surging more than 80% during the period.

The 2020 holiday season was unusual as the virus outbreak upended shopping patterns, with more consumers avoiding malls and retail stores and opting to shop online.


Reuters | Equities.com |

The New York Stock Exchange said it no longer intends to delist three Chinese telecom giants that have been targeted by U.S. President Donald Trump’s outgoing administration, in a shock reversal of an announcement made only last week.

The exchange said in a statement it had made the decision “in light of further consultation with relevant regulatory authorities.”

It had said on Thursday it would delist China Mobile Ltd, China Telecom Corp Ltd and China Unicom Hong Kong Ltd following U.S. government moves to block investment in 35 firms deemed to be owned or controlled by the Chinese military.


Reuters | Equities.com |

China will take “necessary measures” to safeguard the interests of its companies after the New York Stock Exchange began delisting three Chinese telecom firms that Washington says have military ties, the country’s commerce ministry said on Saturday.

The NYSE said on Thursday that it would delist China Mobile, China Unicom and China Telecom following President Donald Trump’s move in November to bar U.S. investment in 31 firms that Washington says...


Reuters | Equities.com |

Tesla Inc on Saturday reported better-than-expected 2020 vehicle deliveries, driven by a steady rise in electric vehicle adoption, but narrowly missed its ambitious full-year goal during a punishing year for the global auto industry.

The company delivered 499,550 vehicles during 2020, above Wall Street estimates of 481,261 vehicles, according to Refinitiv data - but 450 units shy of CEO Elon Musk’s target.

Musk tweeted that he was "proud of ...


Reuters | Equities.com |

The pandemic aid and spending package signed by U.S. President Donald Trump last Sunday includes more than $800 million to fund rare earths and strategic minerals research, spending that mining companies say will help counteract China’s dominance over the sector.

The $2.3 trillion, 5,593-page bill essentially codifies Trump’s executive orders on rare earths, a group of 17 minerals used to make magnets for electric vehicles, other green technologies and weapons.