China tries to defuse trade pressure, says world benefits

China tries to defuse trade pressure, says world benefits

China should take "self-defence measures" against US tariffs by offering subsidies to companies and industries that may suffer losses from trade friction, the Chinese state-run tabloid Global Times said on Wednesday.

The move takes gold's losses this month to more than 3 percent - the biggest monthly loss since September - driven by a dollar rally, a large decline in gold held by exchange traded funds and a sharp fall in speculative bets on higher prices.

"After a lot of sabre-rattling, we are seeing Shanghai suffering a lot more than Wall Street, so clearly the first round (of trade war) has been won by America". The Dow Jones Industrial Average gained 0.1 percent to 24,283.11.

U.S. Trade Representative Robert Lighthizer in Washington, D.C., U.S., May 11, 2018.

Germany's DAX was down 1.2 percent to 12,206 and France's CAC 40 shed 0.6 percent to 5,293. Treasury Secretary Steven Mnuchin's suggestion that the investment restrictions wouldn't be limited to China caused stocks to slide further.

The US now plans to restrict Chinese investment in the technology industry and has threatened to slap an additional $200 billion in tariffs on goods such as cell phones, computers and electronic gadgets. All but one of the 72 technology companies listed on the S&P 500 index closed lower Monday.

A modest global rally in stocks on Wednesday spurred by a newly unveiled USA plan that takes a less confrontational approach to curbing Chinese acquisitions of American technology faded as investors shed optimism, but strong gains in oil limited losses.

Germany's Sebastian Rudy out of World Cup clash with South Korea
Meanwhile, Sweden finished top of Group F on goal difference after the win against Mexico , with both teams on six points. This was South Korea's first win at the 2018 World Cup after losing 1-0 to Sweden and falling 2-1 to Mexico .

Pompeo: N. Korea understands scope of United States request for denuclearization
It might be impossible to embark on such projects unless North Korea denuclearizes, which isn't a sure thing. China has been a critical player in that effort, and remains so, according to Pompeo.

Democrats Urge McConnell: No Vote on Kennedy Replacement Until After Midterms
Justice Antonin Scalia died February 13, 2016, leaving a once-conservative seat open for replacement by then-President Obama. With the news that conservative Justice Anthony Kennedy is to retire , a huge opportunity has landed in Donald Trump's lap.

The adjustment, covering products made in India, Bangladesh, Laos, South Korea and Sri Lanka, was part of the tariff concession arrangement reached under the Asia-Pacific Trade Agreement (APTA), it said. Harley-Davidson shares plunged 6.0 percent on Monday.

The euro rebounded on Wednesday as concerns about an escalating trade conflict held back the dollar, while traders said markets needed clarity on a developing political crisis in Germany and an European Union summit before pushing the euro higher. In less than two weeks, tariffs imposed by the USA and China on each other will also kick in.

Global stocks were mixed Thursday as investors digested assurances from the USA and China on trade, after a series of exchanges between the two resulted in widespread uncertainty.

The US dollar was broadly steady against a basket of currencies at 94.661, after bouncing from 94.171 on Tuesday. Beijing responded to Washington's first round of hikes on USD34 billion of imports by raising duties on U.S. soybeans, whiskey and other products.

GENERAL ELECTRIC: Shares in General Electric jumped 4.4 percent in premarket trading on reports that the company would spin off its health care business and sell its $23 billion stake in oil services company Baker Hughes. Brent crude, used to price global oils, fell 9 cents to $77.37 in London. The euro was back at US$1.1650, having run into profit-taking at a top of US$1.1720 overnight.

CURRENCIES: The dollar edged down to 110.18 yen from 110.20 Japanese yen in late trading Wednesday.

Related news:

Hot News

isis-killer-beheading-video-story-top DOJ charges hundreds for healthcare fraud amid opioid crackdown
Jul 01, 2018 - 10:20
Those charged were accused of cheating federal health programs, including Medicare and Medicaid, through false billing practices. Coleman announced indictments against 10 people - including three health care providers - in six separate Kentucky cases.

isis-killer-beheading-video-story-top Saudi to raise oil production by 2mn BPD
Jul 01, 2018 - 10:13
Prices also have risen with ongoing unrest in Venezuela and fighting in Libya over control of that country's oil infrastructure. Oil prices surged again on news that the US was pressuring its allies not to import oil from Iran, lest they risk sanctions.

isis-killer-beheading-video-story-top Lakers Dodged A Bullet Missing Out On Paul George
Jul 01, 2018 - 09:56
But it was clear the organization liked Grant and preferred to have him on board. After months of speculation, the start of free agency is almost upon us.

isis-killer-beheading-video-story-top Microsoft is working on dual-screen, ‘pocketable’ Surface device
Jul 01, 2018 - 09:42
Renders (see below) created by David Breyers look nearly exactly like the current prototype's, according to The Verge's sources. Microsoft chief product officer Panos Panay with an earlier Surface device.

isis-killer-beheading-video-story-top Mavericks reportedly talking to the Clippers about DeAndre Jordan
Jul 01, 2018 - 09:24
Given the small amount of teams with lots of salary cap space this summer, opting out doesn't seem like the best idea for Jordan. With the Jordan opting in, a trade scenario could ensue with Dallas being one of the landing spots, according to reports .

isis-killer-beheading-video-story-top Sweden coach Janne Andersson refuses to gloat as Germany crash out
Jul 01, 2018 - 08:23
For Augustinsson, 24, who plays in Germany for Werder Bremen, it was his first goal for his country and "a dream come true". Reigning champions Germany were stunned 2-0 by South Korea in Kazan, bringing a shock early end to their campaign.

isis-killer-beheading-video-story-top Swingman Paul George Lists Celtics As Possible Destination For Him
Jul 01, 2018 - 08:15
He has a tough decision to make between the Lakers and Thunder , but at this point in time, B/R believes he will end up in L.A. The Thunder traded for him anyway, hoping they could convince him to stay after a season there.

isis-killer-beheading-video-story-top Striker Danny Ings to leave Liverpool this summer
Jul 01, 2018 - 07:59
Having recovered from a number of major injury layoffs, it was a big relief for the player to get on the pitch. The striker has reportedly chose to move away from Anfield as he looks to play on a more regular basis.

isis-killer-beheading-video-story-top Manchester United set to enter race for Liverpool target Fekir
Jul 01, 2018 - 07:03
Mundo Deportivo says the Reds have made a sensational offer to bring Asensio to Anfield. "Everything is possible. In the meantime, he remains a popular figure in the transfer market, with Liverpool hot on his heels.

isis-killer-beheading-video-story-top 5 dead in newsroom shooting
Jul 01, 2018 - 06:46
Ryan Frashure said officers arrived within about 60 seconds and took the gunman into custody without an exchange of gunfire. The newspaper said two other employees had non-life threatening injuries and were later released from a hospital.

isis-killer-beheading-video-story-top Oil dips but markets remain tight due to disruptions, record demand
Jul 01, 2018 - 06:45
We just shared a forex trading signal to open a buy position above $71.10 with a stop below $70.85 and a target of $71.40. Brent crude futures LCOc1 were at $77.40 per barrel, down 22 cents, or 0.3 percent, from their last close.

isis-killer-beheading-video-story-top Thief drains bank account of nation's oldest veteran
Jul 01, 2018 - 05:12
His favorite pastime is sitting on his porch, where he can be seen waving at honking cars and smoking one of his 12 daily cigars. Thankfully, the bank account was not connected to Overton's GoFundMe page , which finances his 24/7 in-home care.

isis-killer-beheading-video-story-top Google Pixel 3 and Pixel 3 XL renders surface
Jul 01, 2018 - 04:55
There is now a 19:9 display with a notch on top and the notch houses the earpiece, dual front-facing cameras, and the sensors . The smartphone also has dual front-facing speakers, and surprisingly, there also appears to be dual cameras on the front.

isis-killer-beheading-video-story-top Listen Drake Album "Scorpion" Feat. JAY-Z & Michael Jackson
Jul 01, 2018 - 04:36
The album dropped earlier today, a surprise release similar to what Jay Z and Beyonce did with their joint album. But while he rushed out to buy a crib for the tot, Drake has only met his son once at Christmas time.

isis-killer-beheading-video-story-top Trump Administration: Migrant Families Can Be Detained For More Than 20 Days
Jul 01, 2018 - 02:36
More than 500 women, including a member of Congress, were arrested Thursday in the US Capitol complex protesting Trump's immigration policy .