US-China trade war to rage for decades

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.

CORPORATES
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

Costello’s warning to retirees

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.

CORPORATES
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

Trump to impose more tariffs on Chinese goods

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.

CORPORATES
UNITED STATES. EXECUTIVE OFFICE OF THE PRESIDENT, UNITED STATES CHAMBER OF COMMERCE

PM calls for US-China calm

Original article by Simon Benson
The Australian – Page: 1 & 4 : 26-Jun-19

Prime Minister Scott Morrison will use his first foreign policy speech since the 18 May election to urge the US and China to resolve their trade dispute, stressing that they must act in the global interest rather than their own interests. Morrison’s speech on 26 June will also warn that the trade tensions are causing "collateral damage" in the Asia-Pacific region, and that Australia is prepared to act in its own economic and security interests if the dispute worsens.

CORPORATES
AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, GROUP OF TWENTY (G-20), WORLD TRADE ORGANIZATION

US-China war may cost $652bn

Original article by James Dean
The Australian – Page: 26 : 7-Jun-19

International Monetary Fund MD Christine Lagarde says a worsening of the trade dispute between the US and China will cause "self-inflicted wounds". The IMF has estimated that the global economy will take a $US455 billion ($652 billion) hit in 2020 if the trade war escalates further. Lagarde notes that protectionist measures make traded consumer goods more expensive and cause disproportionate harm to low-income households.

CORPORATES
INTERNATIONAL MONETARY FUND

Billions in gains on offer from US-China skirmish

Original article by Glenda Korporaal
The Australian – Page: 20 : 8-Mar-19

A PwC report has concluded that Australia’s manufacturing, education and resources sectors are amongst those that could benefit from the US-China trade war. The report suggests that the domestic economy could potentially be bolstered by up to $2bn a year if the trade tensions continue. PwC economist Jeremy Thorpe says local businesses should be looking at how they can capitalise on any trade opportunities that may arise as a result of the tensions between the US and China.

CORPORATES
PRICEWATERHOUSECOOPERS AUSTRALIA (INTERNATIONAL) PTY LTD

Sharemarket in $30bn surge after thaw in US-China trade war

Original article by David Rogers
The Australian – Page: 17 & 28 : 4-Dec-18

Materials and energy stocks posted the strongest gains on 3 December, with the Australian sharemarket rebounding from a big fall in the previous trading session. Investors responded positively to trade discussions between the US and China at the G20 meeting, as well as claims by President Donald Trump that China has agreed to remove tariffs on US cars. Meanwhile, the Australian dollar peaked at a four-month high of $US0.7384 in local trading.

CORPORATES
STANDARD AND POOR’S ASX 200 INDEX, UNITED STATES. EXECUTIVE OFFICE OF THE PRESIDENT, GROUP OF TWENTY (G-20), ROYAL BANK OF CANADA, BHP GROUP LIMITED – ASX BHP, RIO TINTO LIMITED – ASX RIO, FORTESCUE METALS GROUP LIMITED – ASX FMG, SOUTH32 LIMITED – ASX S32, OZ MINERALS LIMITED – ASX OZL, BLUESCOPE STEEL LIMITED – ASX BSL, BORAL LIMITED – ASX BLD, SANTOS LIMITED – ASX STO, BEACH ENERGY LIMITED – ASX BPT, ORIGIN ENERGY LIMITED – ASX ORG, SHANGHAI COMPOSITE INDEX, HANG SENG INDEX, NIKKEI 225 INDEX, KOSPI INDEX, FTSE 100 INDEX

Trade spat a global threat: PM

Original article by Phillip Coorey
The Australian Financial Review – Page: 15 : 30-Nov-18

Prime Minister Scott Morrison has warned that the US-China trade war could undermine global economic growth. He has stressed the importance of the upcoming G20 leaders’ summit to the outlook for the global economy, and he has urged the US and China to use the summit to resolve their trade spat. Many world leaders regard the G20 summit in Buenos Aires as the most important one to be held since the global financial crisis.

CORPORATES
AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, GROUP OF TWENTY (G-20), UNITED STATES. EXECUTIVE OFFICE OF THE PRESIDENT, ASIA-PACIFIC ECONOMIC CO-OPERATION, ASSOCIATION OF SOUTH-EAST ASIAN NATIONS, INTERNATIONAL MONETARY FUND

Beware of a wounded Trump

Original article by Jacob Greber
The Australian Financial Review – Page: 1 & 10 : 6-Nov-18

Australia’s former prime minister Kevin Rudd says US President Donald Trump may be less likely to seek a resolution to the trade dispute with China if the Republicans perform badly in the mid-term elections. Rudd adds that Trump may adopt a more "extreme" position on issues such as immigration, foreign policy and economic policy if the Democrats gain control of the House of Representatives. The Democrats and Republicans have spent a record $US5.2bn in total on the mid-term elections.

CORPORATES
REPUBLICAN PARTY (UNITED STATES), DEMOCRATIC PARTY (UNITED STATES), UNITED STATES. EXECUTIVE OFFICE OF THE PRESIDENT, HIGH FREQUENCY ECONOMICS, UNIVERSITY OF WESTERN AUSTRALIA, ASIA SOCIETY POLICY INSTITUTE

US, China trade war warning

Original article by Simon Benson, David Uren
The Australian – Page: 1 & 4 : 10-Oct-18

The International Monetary Fund expects Australia’s economic growth to slow to just 2.8 per cent in 2019, citing the impact of the US-China trade war. However, the IMF now expects the domestic economy to expand by 3.2 per cent in 2018, which is slightly higher than its previous forecast. Federal Treasurer Josh Frydenberg says a resolution of the trade tensions between the US and China is in the interests of Australia and the world. The IMF has scaled back its global economic growth forecasts for both 2018 and 2019 to 3.7 per cent.

CORPORATES
INTERNATIONAL MONETARY FUND, AUSTRALIA. DEPT OF THE TREASURY, RESERVE BANK OF AUSTRALIA, UNITED STATES. EXECUTIVE OFFICE OF THE PRESIDENT, UNITED STATES. DEPT OF THE TREASURY, UNITED STATES. DEPT OF STATE, CHINA. MINISTRY OF COMMERCE