Tag: Trade War

[2019] The trade war is hitting medical supplies ‘and will be passed on to the consumer’

Tina Marie (Ms. Cat)

“Think of products like gauze that are made in Band-Aids,” Einhorn said. “Think of other products like medical gloves.”

He continued: “These products are used on an everyday basis not only on the professional side such as physician offices, surgery centers, and hospitals, but also on the consumer side — products you’ll buy in a pharmacy. And those products will be somewhat affected somewhere between 10% and 25%.”
— Read on finance.yahoo.com/news/trade-war-consumers-medical-supplies-144533487.html

These U.S. states are hit hardest by Trump’s tariffs

Tina Marie (Ms. Cat)

Imports to Tennessee accounted for 3.4% of total U.S. imports in 2018, according to U.S. Census Bureau data. The imports included pharmaceutical products, cellular phones, passenger motor vehicles, and portable automatic data processing machines, accounted for 7.3% of the state’s GDP. Five of the top 10 companies in the state are all in the health care industry.

California’s top imports in 2018 were passenger vehicles, crude oil from petroleum and bituminous minerals, portable automatic data processing machines, phones for cellular networks, and automated data processing machines. This was unsurprising, as the state is the home of Silicon Valley where technological items are used on a daily basis. Overall, imports make up 5.4% of the state’s GDP.

Illinois’s major 2018 imports made up for 4.7% of the state’s GDP and included crude oil from petroleum and bituminous minerals, phones for cellular networks, parts of airplanes and helicopters, portable digital automated data processing machines, pharmaceutical products, and beer made from malt. Some of the biggest companies in Illinois include Walgreens pharmacy (WBA), economic bellwether Caterpillar (CAT), and United Airlines (UAL).

— Read on finance.yahoo.com/news/trump-tarriffs-states-140945762.html

China-made medical supplies needed for coronavirus fight get U.S. tariff exemption

Tina Marie (Ms. Cat)

U.S. trade officials have exempted medical gowns, protective masks and other healthcare products made in China from trade-war-related import tariffs as demand soars amid the coronavirus crisis.
— Read on web.archive.org/web/20200312002439/https://www.washingtonpost.com/business/2020/03/06/trump-administration-exempts-face-masks-medical-gowns-import-tariffs-coronavirus-spreads/

Trump Administration Orders Shiji to Sell Hotel Tech Firm StayNTouch

Tina Marie (Ms. Cat)

The Trump Administration on Friday demanded that Beijing Shiji Information Technology, whose international arm is known as Shiji Group, unwind its acquisition of StayNTouch, a maker of hotel operational software. President Donald Trump said the acquisition of the U.S.-based startup might “threaten
— Read on finance.yahoo.com/news/trump-administration-orders-shiji-sell-202047137.html

More proof that Trump’s favoring a company; ie Oracle!

Despite Trump’s tough stance, phase one deal at risk amid global virus spread

Tina Marie (Ms. Cat)

Despite Trump’s tough stance, phase one deal at risk amid global virus spread

When the US economy is taking a hit from the COVID-19, it won’t be easy for the Trump administration to give China some leeway in the phase one trade deal, even though the deal has a clause that both countries can consult in the case of an unforeseeable event. Any delay in China’s plans to purchase goods from the US may seem unacceptable to Trump, who is probably hoping to use the Chinese purchases to score political points in the upcoming election.

Yet, the fact is that the virus may have hit the China-US trade far harder than the trade war, as reflected by the sharp fall in the recent bilateral trade. During the first two months of this year, China’s trade with the US dropped 19.6 percent year-on-year amid disruptions caused by the outbreak.
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