India eyes bigger share in global trade amid US-China tensions
India will focus on boosting its exports to the US and other global markets as Chinese shipments become unattractive amid a trade war between the world’s biggest economies, the country’s trade minister said. New Delhi is focusing on a handful of items including automotive parts, chemicals, electrical equipment, among others, after the US and China slapped reciprocal duties on each other’s goods, minister Suresh Prabhu said.
U.S. Firms Evading Trump Tariffs by Switching Output Abroad: UBS
U.S. companies are evading President Donald Trump’s goods tariffs by partly moving production abroad, shielding China for now from the effects of an escalating trade dispute, according to research by UBS Group AG. “If U.S. companies move a stage of their manufacturing overseas (to a country other than China), the trade tax is avoided,” Paul Donovan, chief economist at UBS Wealth Management, said.
The threat to growth from raging global trade war
Calling the end of the global trading system, or at least of sustained expansion in cross-border commerce, is now a tradition that stretches back two decades. The bursting of the 1990s tech bubble; the September 11 attacks; an international epidemic of avian flu in 2005. All were predicted to throw sand in the wheels of globalisation, and all failed to do so.
China Is Winning the Trade War with America for Now
Sometimes statistics don’t behave as predicted. Take the thorny issue of US-China trade and Donald Trump. Earlier this year, the US president expressed fury about the size of America’s bilateral trade deficit with China and imposed escalating tariffs on $250bn worth of Chinese imports. The assumption inside the White House was that this would cause the deficit to shrink, since American companies would produce more goods at home and/or find ways to avoid costlier imports. But that theory has not played out — or not yet. Far from it.