US economy is expected to accelerate this year, then slow in 2019: CBO

U.S. economic growth will probably accelerate this year before slowing in 2019 to well below the Trump administration’s 3 percent target as a fiscal stimulus fades, congressional researchers projected on Monday. In an updated economic outlook, the nonpartisan Congressional Budget Office (CBO) projected that inflation adjusted or real gross domestic product (GDP) would grow 3.1
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US hot-rolled coil prices fell to the lowest level since June 1 as mills lower prices while buyers hold off on orders, sources said Monday. The daily Platts TSI US hot-rolled coil assessment fell by $7.25/st to $894/st, while the daily Platts TSI US cold-rolled coil assessment dropped by $3.75/st to $1,000/st. The drop puts
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GENEVA: In reference to its previous communication of 19 July about the new 2M strategic cooperation with ZIM on the Asia – US East Coast trade, MSC has announced further details about its revised Transpacific US East Coast network. As previously communicated, there will be a combined operation of five loops between Asia and US
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The chief commodity researcher at Goldman Sachs says the bull case for oil remains in tact despite an escalating trade dispute between the world’s two biggest economies that has stoked fears of weakening demand for crude. U.S. crude settled at a seven-week low below $67 a barrel on Thursday. It is now on pace for
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Peak Pegasus, a cargo ship that has been circling off the Chinese coast for over a month will finally dock at Dalian’s Beiliang port on August 11, Liaoning Maritime Safety Administration told CGTN’s reporter on Friday. The cargo ship, owned by JPMorgan Asset Management, left Seattle on June 8 on a month-long voyage to the
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China’s threats of new tariffs on $60 billion worth of U.S. imports will create shifts in the energy market, as American liquefied natural gas makes the list of goods Beijing will target, analysts said. The move to include LNG raised eyebrows as China had previously held back at including the fuel on the list of
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Europe’s take of US LNG has slumped so far this year to less than 3% of total volume, prompting further talks between the EU and the US later this month to reduce regulation in order to boost US LNG deliveries into Europe and increase the price competitiveness of the region. Europe has received just 474
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The United States Trade Representative’s office has unveiled a list of around USD 16 billion worth of imports from China that will be subject to a 25 percent additional tariff. As informed, the country’s Customs and Border Protection will begin to collect the additional duties on the Chinese imports on August 23, 2018. The move
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WASHINGTON: The Trump administration recently announced that it will go ahead with imposing 25 percent tariffs on an additional $16 billion in Chinese imports. Customs officials will begin collecting the border tax Aug. 23, the Office of the U.S. Trade Representative said. The list is heavy on industrial products such as steam turbines and iron
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NEW DELHI: India should focus on new categories such as machinery, vehicles and transport parts for export to the US where it has a competitive advantage in the US-China trade war, according to a report. The report ‘New Export Opportunities for India in Trade with US and China’ by the Confederation of Indian Industry (CII),
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