Original article by Glenda Korporaal, Rosie Lewis, Ben Packham
The Australian – Page: 1 & 6 : 9-Aug-19
The Department of the Prime Minister & Cabinet’s secretary Martin Parkinson says the US-China trade war is unlikely to be resolved in the near-term, and it could last for decades. He has also used an Asia Society briefing to note that the trade tensions have already undermined confidence in the rules-based trade system. Meanwhile, Business Council of Australia CEO Jennifer Westacott says that handling the trade war requires a delicate balancing act, given that the US is Australia’s biggest ally and China is the nation’s largest trading partner.
AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, BUSINESS COUNCIL OF AUSTRALIA, LIBERAL PARTY OF AUSTRALIA, AUSTRALIA. DEPT OF FOREIGN AFFAIRS AND TRADE, AUSTRALIAN LABOR PARTY, JOHN CURTIN RESEARCH CENTRE
Original article by Greg Brown, Adam Creighton
The Australian – Page: 1 & 6 : 7-Aug-19
Future Fund chairman Peter Costello has urged the US and China to "sensibly negotiate" a resolution to their ongoing trade dispute in the wake of a global financial rout. The Australian sharemarket has shed $86bn in the last two trading sessions, following China’s move to devalue its currency; Costello has warned that Australians’ savings and the federal Budget will be impacted if the trade dispute is not resolved. However, he says it is important to not "overhype" the recent market slump.
AUSTRALIA. FUTURE FUND MANAGEMENT AGENCY, STANDARD AND POOR’S ASX 200 INDEX, RESERVE BANK OF AUSTRALIA, UNITED STATES. EXECUTIVE OFFICE OF THE PRESIDENT, CITIGROUP INCORPORATED, UNITED STATES. DEPT OF THE TREASURY, INTERNATIONAL MONETARY FUND, JP MORGAN AUSTRALIA LIMITED, WESTPAC BANKING CORPORATION – ASX WBC, MACQUARIE GROUP LIMITED – ASX MQG
Original article by
bbc.com – Page: Online : 2-Aug-19
Wall Street has retreated after President Donald Trump announced via Twitter that the US government will impose a tariff of 10 per cent on an additional $300bn worth of goods imported from China. The move means that all Chinese imports will now be subject to an impost. Trump has indicated that the latest move is a short-term measure and that the tariff could progressively be increased to at least 25 per cent. The US Chamber of Commerce has warned that Trump’s latest tariff move will undermine the strong US economy.
UNITED STATES. EXECUTIVE OFFICE OF THE PRESIDENT, UNITED STATES CHAMBER OF COMMERCE
Original article by Phillip Coorey
The Australian Financial Review – Page: 1 & 4 : 1-Jul-19
The US and China have indicated that they will resume trade negotiations, with President Donald Trump stating that China had agreed to buy a "tremendous amount" of US agricultural produce. This has prompted concern among Australian officials that such purchases could be at the expense of local farmers, along with fears that the US and China could strike ‘side deals’. However, despite the concerns about agriculture, there was overall relief in Australia that China and the US have agreed to keep talking about their trade differences and that Trump did not impose any more tariffs on China.
UNITED STATES. EXECUTIVE OFFICE OF THE PRESIDENT, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIA. DEPT OF FOREIGN AFFAIRS AND TRADE, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ
Original article by
Bloomberg – Page: Online : 6-Jun-19
The US-China trade war may escalate after China’s National Development & Reform Commission signalled that it will look at imposing export controls on rare earths. The US Commerce Department has responded by releasing a report which outlines a range of options to ensure continued supply of rare earths minerals, which are used in many consumer goods. China accounts for more than 70 per cent of global production of rare earths.
CHINA. NATIONAL DEVELOPMENT AND REFORM COMMISSION, UNITED STATES. DEPT OF COMMERCE, CITIGROUP INCORPORATED, MP MATERIALS, LYNAS CORPORATION LIMITED – ASX LYC, CHINA RARE EARTH HOLDINGS LIMITED, CHINA NORTHERN RARE EARTH GROUP HIGH-TECH COMPANY LIMITED, JL MAG RARE-EARTH COMPANY LIMITED
Original article by Jacob Greber, Patrick Durkin
The Australian Financial Review – Page: 15 : 21-Sep-18
A report from the OECD has warned that the US-China trade war could undermine global economic growth. The interim economic outlook report notes that the tariff war has already had an impact on the global trade growth rate, which slowed significantly during the first half of 2018. The OECD says global investment, jobs and living standards will be adversely affected if the trade war escalates. It also expects the US to record GDP growth of 2.9 per cent year-on-year in 2018, while it still expects growth of 6.7 per cent in China. Australia’s GDP growth rate is forecast to be 2.9 per cent in 2018 and three per cent in 2019.
ORGANISATION FOR ECONOMIC CO-OPERATION AND DEVELOPMENT, UNITED STATES. EXECUTIVE OFFICE OF THE PRESIDENT, STATE STREET GLOBAL ADVISORS LIMITED, L1 CAPITAL PTY LTD
Original article by David Uren, Cameron Stewart, Glenda Korporaal
The Australian – Page: 1 & 6 : 19-Sep-18
President Donald Trump has vowed to escalate the trade war with China, after announcing that the US will impose a tariff of 10 per cent on $US200bn worth of Chinese goods from 24 September. This will rise to 25 per cent on 1 January. The minutes of the Reserve Bank of Australia’s latest board meeting show that the central bank is concerned about the potential impact of the trade war on the Australian economy. Modelling by KPMG indicates that the Trump administration’s new round of tariff hikes would cut Australia’s GDP by about 0.3 per cent by the early 2020s.
UNITED STATES. EXECUTIVE OFFICE OF THE PRESIDENT, RESERVE BANK OF AUSTRALIA, KPMG AUSTRALIA PTY LTD, CHINA. MINISTRY OF COMMERCE, AUSTRALIA. DEPT OF FOREIGN AFFAIRS AND TRADE, UNIVERSITY OF SYDNEY. UNITED STATES STUDIES CENTRE
Original article by Jacob Greber, Michael Smith
The Australian Financial Review – Page: 1 & 13 : 10-Sep-18
The US has already imposed tariffs on $US50 billion worth of Chinese imports, and is believed to finalising duties on an additional $US200 billion ($281 billion) worth of imports in the next few days. Donald Trump hinted to reporters on 7 September that he may impose tariffs on a further $US267 billion worth of Chinese imports. If this threat eventuated, it would effectively mean a tariff on all Chinese imports into the US. Jeffrey Wright from the Eurasia Group says US industry remains divided on Trump’s tariffs stance.
EURASIA GROUP, UNITED STATES. EXECUTIVE OFFICE OF THE PRESIDENT
Original article by Alexandra Stevenson
The Australian Financial Review – Page: 20 : 13-Jul-18
China’s domination of the global rare earths market gives the nation significant power in a trade war with the US. Rare earth minerals are an essential component of consumer goods such as smartphones and electric cars. Chinese-made goods containing rare earths are among those being targeted by the Trump administration’s latest round of tariffs. Amanda Lacaze, the CEO of Australian-listed rare earths producer Lynas Corporation, says China could easily restrict global supply if a full-scale trade war erupts. Lynas produced about 12 per cent of global rare earths supply in 2017.
LYNAS CORPORATION LIMITED – ASX LYC, UNITED STATES. EXECUTIVE OFFICE OF THE PRESIDENT, ADAMAS INTELLIGENCE
Original article by John Kehoe, Michael Smith
The Australian Financial Review – Page: 1 & 16 : 23-Mar-18
Fears of a global trade war have been heightened after the US announced plans to pursue punitive measures against China in retaliation for its theft of intellectual property. The US will impose $US50bn ($A64bn) worth of tariffs on China are expected to target a wide range of Chinese-made goods, while the US is also expected to introduce new foreign investment restrictions on China. US Trade Representative Robert Lighthizer has noted that the World Trade Organization has been "wholly inadequate" in addressing concerns about China.
UNITED STATES. EXECUTIVE OFFICE OF THE PRESIDENT, UNITED STATES. DEPT OF COMMERCE, WORLD TRADE ORGANIZATION, CHINA. MINISTRY OF COMMERCE, UNITED STATES. FEDERAL RESERVE BOARD, BOEING COMPANY, QUALCOMM INCORPORATED, MONEYGRAM INTERNATIONAL LIMITED, UNITED STATES. NATIONAL FOREIGN TRADE COUNCIL, THE GOLDMAN SACHS GROUP INCORPORATED