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Trade disagreements between the US and China had the greatest negative impact on American automakers in China. This is evidenced by the data of the poll of American chambers of commerce in Beijing and Shanghai, CNBC reports. This summer, the PRC and the United States introduced reciprocal duties on goods worth $50 billion. Duties on the import of American cars in China were raised to 40%. 75% of respondents reported that Chinese duties caused damage to business. Many expect even more damage from additional duties on Chinese goods for $200 billion and similar duties on the part of China. The survey also showed that as a result of the introduction of duties by both countries, the profits of companies were declining, their production costs were increasing. This forces a quarter of survey respondents to move their production from China to East Asia.
On Friday, the Chinese technology company ByteDance said that it would consider listing its domestic businesses in Hong Kong or Shanghai due to rising Sino-U.S. tensions. The company's standalone listing in Hong Kong or Shanghai might value ...
European shares traded lower earlier on Thursday after underwhelming earnings reports dampened a U.S. Fed vow to continue rolling out stimulus plans in a bid to soften the economic blow of the COVID-19 pandemic. The pan-European STOXX lost ...
European stocks traded slightly higher on Tuesday ahead of a U.S. decision to roll out additional stimulus plans despite the underwhelming quarterly earnings reports from the luxury goods market. The pan-European STOXX index inched higher ...
China’s industrial firms had seen an increase in profits for two consecutive months. This came as the most rapid pace ever recorded in over a year, suggesting that the country’s recuperation from the novel coronavirus pandemic ...
Oil prices fell on Monday as a surge in coronavirus cases and the escalating U.S.-China tensions prompted a safe-haven bid. Brent crude slid 0.2%, or 8 cents, at $43.26 per barrel. U.S. West Texas Intermediate crude fell 0.2%, or 7 cents, ...
KYC Policy