U.S. Business Group says Trump China tariffs cost $1.4 billion/month

A coalition of U.S. business groups fighting President Donald Trump’s trade tariffs has launched an advertisement aimed at telling voters ahead of the midterm elections that the measures are costing American businesses and consumers $1.4 billion a month. The group says that in Michigan, a state with several competitive elections this fall, tariff costs tripled
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China’s vast export engine unexpectedly kicked into higher gear in September, producing a record trade surplus with the United States that could exacerbate the already-heated dispute between Beijing and Washington. Analysts said last month’s strong export growth – which might indicate U.S. tariffs are not biting much yet – is unlikely to be sustained. But
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The export volumes are expected to rise to 2.2 million barrels a day in 2019 and hit 3.9 million barrels a day by 2020, according to a new report by research firm S&P Global Platts. The increasing crude oil exports will be linked to continued oil production growth in U.S. shale oil fields, particularly the
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Indian buyers reduced U.S. crude purchases and loaded up on Iranian oil ahead of the restart of U.S. sanctions next month and as the WTI-Brent differential narrowed, according to traders and shipping intelligence firm Kpler. U.S. oil shipments to India fell to 84,000 barrels per day (bpd) last month, down 75 percent from a record
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The U.S. trade deficit widened in August to the biggest in six months as soybean exports plunged and a measure of the gap with China hit a record, showing how the Trump administration’s trade war is dragging on economic growth. The gap in goods and services trade increased 6.4 percent to $53.2 billion, from a
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U.S. crude oil shipments to China have “totally stopped”, the President of China Merchants Energy Shipping Co (CMES) said on Wednesday (3 October 2018), as the trade war between the world’s two biggest economies takes its toll on what was a fast growing businesses. Washington and Beijing have been ‘generous’ in import tariffs on hundreds
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Owing to its booming shale industry, the United States is likely to become an important supplier of low-sulphur marine fuels ahead of major new emissions regulations in 2020, Vienna-based consultancy JBC Energy said. “The (United States) is likely to emerge as a strong supplier of compliant fuels in the coming quarters in the context of
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  China’s soybean processors are snapping up Brazilian cargoes for shipment in the fourth quarter, curbing purchases of U.S. crops for delivery in North America’s peak marketing season as the trade war between Washington and Beijing intensifies. That shift away from U.S. beans by China, which takes more than 60 percent of the commodity traded
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China is being forced to retaliate against the United States in their trade dispute, and U.S. exporters including suppliers of liquefied natural gas would “certainly” be hurt, said Chinese vice commerce minister Wang Shouwen. But Beijing’s retaliation would provide opportunities to other LNG-exporting countries, Wang said at a press conference on Tuesday, adding that Australia
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The tariff dispute between the United States and its trading partners may potentially affect the port trade, causing an increase in the construction costs, a U.S. port official said. John LaRue, the executive director of the Port of Corpus Christi, made the remarks at a two-day annual symposium which closed Thursday in Laredo, a city
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