What is moving the markets today
China will reduce consumer product tariffs and lift financing to spur imports
China is on the verge of lowering tariffs and stepping up bank financing just to back more imports as the Asian country's huge trade surplus has rather a negative impact on its citizens, as commerce ministry officials unveiled on Thursday.
China faces an enormous trade surplus and it has been accused by other countries including America of protecting domestic companies using unfair trade practices such as high import tariffs.
Donald Trump is braced for coming to China next week. The trade relationship is believed to be a key topic of discussion.
China is going to reduce import tariffs on consumer products and also encourage financial institutions to expand import financing, and intensify imports of advanced technological equipment as well as key components.
On Wednesday, Trump labeled the US trade deficit as “terrible” and "embarrassing" ahead of an trip to Asia.
In July, Britain's inflation rate rallied for the first time in 2018, thus leaving many UK households feeling quite squeezed by prices, soaring at nearly the same tempo as their wages…
On Friday, the evergreen buck rallied versus its counterparts after data disclosed that the American economy generated more jobs than anticipated In October, thus backing the Fed’s case to proceed with gradual rate lifts…
On Monday, gold declined because the evergreen buck managed to gain early traction, thus putting pressure on the most popular precious commodity, which has been sticking with the year’s minimums…