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Chinese manufacturers, who face trade barriers, are currently employing a range of measures to retain foreign customers. They provide discounts, trim workforces, tap tax breaks, and even shift their production overseas for the purpose of avoiding tariffs.
Tit-for-tat levies from America have turned out to be costly for many. Contributing to the strain on China’s manufacturers have been EU levies on Chinese products varying from solar panels to electric bikes.
March came up with some upbeat news for producers. As a matter of fact, industrial output jumped at its fastest tempo since mid-2014, while exports rebounded more than anticipated. As for the first-quarter surge, it was better than anticipated.
Still, a number of producers depending on American sales are struggling. The previous week in southern China at the Canton Fair, they pretended to be brave, although worried that they will require taking more measures to survive if American and China don’t manage to come to a compromise.
Botou Golden Integrity Roll Forming Machine Co was deprived of some American consumers when levies pushed up prices for its machines, which make light steel girders as well as bars for building frames. As a result, it has come up with an 8% discount for their customers.
In addition to this, Ball bearing maker Cixi Fushi Machinery Co provided long-term clients with a 3-5% discount. What’s more, the company suspended a product line, which generates a $30,000 monthly gain.
A manufacturer of surveillance cameras, Shenzhen Smarteye Digital Electronics Co, which is not on the American tariff list, managed to cut prices due to the tax break.
The US showed strong retail sales for August despite the spread of the Delta virus strain. As a result, the US dollar rocketed and gold dropped by 2286 points in half an hour after the release.
The Kansas City Federal Reserve announced Friday the annual Jackson Hole symposium will be held virtually, a reversal from prior plans that saw a modified, in-person program…
Hong Kong stock index extended a decline sparked by China’s tech crackdown. Tesla posted better-than-expected results. Jump in!
Did the era of the Dogecoin, the most famous cryptocurrency, come to its end, or it is just a calm before the storm? Let’s find out!
The FOMC, a committee within the Federal Reserve, will hold an important meeting and press conference on September 22 at 21:00 MT time (GMT+3).
Quadruple witching is gone and now there are no reasons for the market to hinder. From banks statements and economic data to gas storage reading and Fed’s Powell speech – get ready for active trading.
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