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Trump looking to ban Alibaba

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Alibaba, which at one time was the world’s largest e-commerce company, is in the sights of US President Donald Trump, according to Reuters.

Asked directly at a White House briefing if he was considering a ban on Alibaba, Trump replied: “We’re looking at other things, yes we are.”

Alibaba is a Chinese company most famous for its business-to-business website Alibaba.com, where qualified buyers can contact and do businesses directly with manufacturers and other industrial companies in China. [Read more…] about Trump looking to ban Alibaba

Foxconn moving operations out of China

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Foxconn, one of the most well known Chinese manufacturing companies as a result of its status as main supplier for Apple, is moving significant parts of its operations outside of China.

The company, which according to TechSpot reported almost $800 million net profit for the quarter ending in June, has already moved an additional 5 percent of its operations to countries other than China, bring it up to 30 percent, compared with 25 percent last year.

China is still overwhelmingly the main base for Foxconn’s manufacturing operations, representing some 70 percent of its production capacity, but the company is scouting many locations abroad. [Read more…] about Foxconn moving operations out of China

Canada imposes tariffs on US goods in retaliation

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Canada is to impose tariffs on American imports in retaliation for the recent decision by the US to levy a 10 percent tax on Canadian aluminum imports.

Canada’s deputy prime minister Chrystia Freeland says that the tariffs would match the US taxes “dollar for dollar”, according to a story on Manufacturing.net.

President Donald Trump (main picture) has been expressing his dissatisfaction with the terms of the North American Free Trade Agreement since coming to office and at one point wanted to take America out of it. [Read more…] about Canada imposes tariffs on US goods in retaliation

US demands Hong Kong-made goods be relabelled ‘Made in China’

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The United States government is calling for goods made or exported to the US from Hong Kong to be relabelled “Made in China”, according to a report on the South China Morning Post. 

The measure, to be introduced by US President Donald Trump, does not appear to need Congressional approval or any kind of vote.

It will mean that Hong Kong companies exporting to the US will be required to pay the same kind of punitive tariffs currently placed on goods arriving in America from mainland China. [Read more…] about US demands Hong Kong-made goods be relabelled ‘Made in China’

US targets Chinese tech giants for bans and sales

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The United States is targeting a range of Chinese-owned tech giants for bans or sales in a bid to put pressure on its economic rival.

The administration of President Donald Trump appears to be conflating “national security” issues with economic measures which it believes are fair while others consider protectionist.

Trump has signed executive orders which may see the sale within 45 days of video-sharing app TikTok to Microsoft. Another app in the administration’s bad books is WeChat, according to the South China Morning Post. [Read more…] about US targets Chinese tech giants for bans and sales

Trump to reimpose tariffs on aluminum from Canada

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US President Donald Trump says he has signed a document that will lead to the reimposition of tariffs on aluminum imported from Canada. 

Trump made the announcement during a visit to a Whirlpool factory in Clyde, Ohion, according to the Wall Street Journal.

Trump said: “Canada was taking advantage of us, as usual. The aluminum business was being decimated by Canada, very unfair to our jobs and our great aluminum workers.” [Read more…] about Trump to reimpose tariffs on aluminum from Canada

Trump announces tariffs on imports from Mexico

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After recently increasing the percentage of tariffs and applying them to a broader range of Chinese imports, US President Donald Trump has now imposed new tariffs on imports from Mexico. 

The proposed 5 percent tariff on all Mexican imports is yet to be made official, but Trump’s announcement has already caused concern across a range of sectors.

Trump said today on Twitter: “On June 10th, the United States will impose a 5% Tariff on all goods coming into our Country from Mexico, until such time as illegal migrants coming through Mexico, and into our Country, STOP. The Tariff will gradually increase until the Illegal Immigration problem is remedied, at which time the Tariffs will be removed. Details from the White House to follow.” [Read more…] about Trump announces tariffs on imports from Mexico

US footwear manufacturers call for Trump to end new China tariffs

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More than 200 footwear manufacturers in the US have sent President Donald Trump an open letter calling for an end to what they call the “catastrophic” and “unfathomable” new tariffs on Chinese imports. 

The companies include global and household names such as Adidas, Cat, Converse, K-Swiss, Nike, Puma, Ugg, and Under Armour, among many others.

The letter was sent under the auspices of the Footwear Distributors and Retailers of America, the leading industry association, representing a total of 500 companies and brands worldwide. [Read more…] about US footwear manufacturers call for Trump to end new China tariffs

Trump trade tariffs to hit $300 billion worth of Chinese goods

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US President Donald Trump’s proposed increase in tariffs will hit $350 billion worth of goods imported from China, according to economic analysts.

Trump announced his intention to impose the additional tariffs recently in a tweet, but the US and China are currently locked in trade talks and there may be some modifications to the proposal.

The effects of his announcement, however, have been far-reaching, and are said to be the reason for the $1 trillion fall in share prices around the world.

[Read more…] about Trump trade tariffs to hit $300 billion worth of Chinese goods

Chinese exporters accuse Trump of not playing by the rules

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Chinese export companies have strongly criticized President Donald Trump for deciding to increase tariffs on imports into the US by another 10 percent, bringing them up to 25 percent for hundreds of billions of dollars’ worth of manufactured goods.

Comments reported by the South China Morning Post say Chinese exporters are decrying Trump as a business “killer” who “never plays by the rules”.

One exporter, Liao Yu, who produces bags and suitcases, said: “A 25 per cent [tariff] will kill everyone.”

[Read more…] about Chinese exporters accuse Trump of not playing by the rules

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