Tag: trump tariffs
Data released today show a worsening slowdown in China. The country’s industrial production increased by 4.4% year-over-year last month.
This month, there has been a de-escalation in the US-China trade war. President Trump delayed the next round of tariffs on Chinese goods by two weeks.
The US-China trade war has taken a toll on the Chinese economy. In August, China’s producer price index fell to its lowest level in three years.
On Thursday, CNBC reported that the US-China talks will be held in October. China’s Vice Premier Liu He called the US negotiating team.
Gold hit a fresh six-year high on Friday as trade tensions between the US and China escalated. The SPDR Gold Shares ETF (GLD) closed up 2%.
The possibility of a US-China trade deal has diminished after the recent escalation in the trade war. China has announced new tariffs on US goods.
On Wednesday, Jefferies lowered U.S. Steel’s (X) target price from $16 to $14. Jefferies also lowered the target price in July.