China immediately slapped retaliatory tariffs on U.S. imports on Friday after the U.S. imposed duties on $34 billion worth of Chinese products, signaling the start of a full-blown trade war between the world’s two largest economies.
TOKYO (Reuters) - Asian stocks retreated and perceived safe havens such as the yen and U.S. Treasuries rose on Wednesday after the United States said it would impose tariffs on an extra 200 billion worth of Chinese imports, sharply escalating the trade war between the world’s two biggest economies.
NEW YORK (Reuters) - Oil prices gained on Monday, with U.S. crude ending a choppy session higher on expectations for a Canadian production outage lasting until September, while global benchmark Brent gained on looming sanctions on Iran and falling output in Libya.
Rubber and plastics processing machinery falls under President Trump's additional 25 percent tariffs spanning $34 billion worth of goods from China that began July 6, but officials of injection press importers say not to expect an immediate price jump, since they have machines in stock at U.S. facilities.
The continuous fall in domestic rubber production is worrying the tyre industry, with consumption moving up following industry initiatives to boost domestic manufacturing.
SYDNEY (Reuters) - Asian shares sought to rally for a third session on Tuesday as hopes for upbeat corporate earnings buoyed Wall Street, while several high-profile resignations from Britain’s government kept sterling on the defensive.