In April, new orders for American capital goods tacked on by the most for eight months, although a tumble in shipments dropped a hint that business spending on equipment decelerated in the first quarter…
China's June exports are quite firm
China's exports surge is expected to have decelerated only a bit in June, probably further stimulating a trade surplus with America in a test for the Chinese government as it attempts to repel a bunch of American duties on its products that many investors fear could affect its economy.
On Tuesday, the Trump administration dared to raise the stakes in its trade clash with China, telling it would impose 10% duties on an extra $200 billion worth of China’s products, including numerous consumer items.
America’s fresh move showed up just several days after it put 25% duties on $34 billion of China’s imports, drawing fast retaliatory tariffs by the Chinese government on the same amount of American exports to this Asian country.
Considering the recent round of tit-for-tat duties coming into effect on Friday, we should admit that there has been minor impact on the Chinese overseas shipments to date.
The Reuters survey of 39 financial experts foresees Chinese exports surge of 10% year-on-year in June, speeding down a bit from a 12.6% soar in May.
The previous week China's Ministry of Commerce told that it would encourage Chinese exporters to develop fresh export markets, and would also utilize funds collected from duties for the purpose of relieving the impact from American trade actions on Chinese companies.
Imports surge was also anticipated to stay firm at 20.8% in June, the third straight month of 20-plus percent surge, although speeding down again from May’s 26% soar.
There’s also most likely to be significant focus on the US-China trade balance because Donald Trump has yelled at China's sizable surplus with the world's number one economy. Moreover, US leader has demanded the Chinese government to take measures to have it cut.
By the way, the previous year China managed to run a $375 billion goods trade surplus with America.
In the first quarter, the South Korean economy suddenly contracted, thus marking its worst outcome since the global financial meltdown…
American mortgage applications to purchase a home and to have it refinanced demonstrated their steepest weekly slump for four months due to the fact some mortgage rates jumped to one-month maximums, in step with higher bond gains…
Did Bitcoin manage to recover and what was the hottest news in the crypto and blockchain world? Read and find out!
On Monday, Asian stocks traded mostly higher, with Shanghai bucking the trend because centrist Emmanuel Macron fully matched opinion survey hopes and left anti-EU far-right nominee Marine Le Pen behind…
Japan's March real wages went down at the fastest pace in nearly two years, weighed by minor nominal pay lifts as well as a moderate ascend in consumer prices, thus posing a setback for Prime Minister Shinzo Abe's tries to revitalize the Japanese…