Business

Trump's Trade War Officially Begins - Hit & Run

Trump's Trade War Officially Begins - Hit & Run

Beijing insists it's the injured party. "China promised not to fire the first shot, but in order to safeguard the country's core interests as well as that of the people, it is forced to fight back", a spokesperson for China's ministry of commerce said, according to news agency Xinhua.


Oil markets volatile as trade conflict between USA and China escalates

Oil markets volatile as trade conflict between USA and China escalates

USA crude oil is trading on the futures market today for about $73.52 a barrel, down about $1 from the previous session. West Texas Intermediate was down 1.2% to $73.30 a barrel. Meanwhile, US crude oil production has soared by 30 percent in the last two years, to 10.9 million bpd. The president noted that the United States provides security for Saudi Arabia and other Arab Gulf countries through the presence of military forces in the region.


Micron receives Chinese ban, sees 1 pct impact on quarterly revenue

Micron receives Chinese ban, sees 1 pct impact on quarterly revenue

The company also issued a statement on Tuesday saying the court had ruled against Micron. (UMC), accused Micron in January in China of making products that violate their separate patents. Last year Micron sued UMC and its partner, Fujian Jinhua Integrated Circuit Co, claiming they stole memory chip trade secrets. It said in June the case could "have a material adverse effect" on its business, requiring changes to its China operation.


Soybean farmer reacts to China tariffs: ‘A lose-lose situation’

Soybean farmer reacts to China tariffs: ‘A lose-lose situation’

Chinese officials on Thursday said they were prepared to respond with tariffs on $34 billion worth of American goods, raising serious concerns among industry leaders in the US agricultural, manufacturing and technology sectors and increasing the odds of billions more in import taxes for both countries in the coming months.


Euro edges higher, yuan gains as trade concerns linger

Euro edges higher, yuan gains as trade concerns linger

Software shares posted strong performance, with Yuanguang Software Information Co., Ltd rising 3.56 percent to close at 8.72 yuan. "Notwithstanding the trade war concerns, the broader picture is the US central bank still remains the most hawkish central bank among its peers and that should support the dollar for now", said Jane Foley, senior currency strategist at Rabobank.