Original article by Jacob Greber
The Australian Financial Review – Page: 11 : 4-Dec-19
US President Donald Trump has accused Brazil and Argentina of deliberately devaluing their currencies. He has retaliated by removing a tariff exemption on steel and aluminium imports from the two nations. Australian imports will continue to be subject to the tariff exemption; local aluminium producers have significantly cut their shipment to the US since May, when concerns were raised within the Trump administration about a sharp rise in export volumes. Trump has also flagged tariffs on imports from France in response to the nation’s digital services tax.
UNITED STATES. EXECUTIVE OFFICE OF THE PRESIDENT
Original article by Dennis Shanahan
The Australian – Page: 1 & 4 : 23-Sep-19
Prime Minister Scott Morrison has urged the US and China to take action to resolve their trade dispute as quickly as possible. Following a meeting with President Donald Trump, Morrison stated that he had a "clear sense" that Trump is also keen for a resolution to the trade war. He added that any deal must be sustainable and address issues such as breaches of intellectual property and forced technology transfer. Morrison has downplayed recent comments by former prime minister Kevin Rudd, who suggested that the G20 leaders’ summit in November will be the last opportunity for the US and China to resolve the trade war.
AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, UNITED STATES. EXECUTIVE OFFICE OF THE PRESIDENT, GROUP OF TWENTY (G-20), AUSTRALIAN LABOR PARTY
Original article by William McInnes
The Australian Financial Review – Page: 13 & 27 : 27-Aug-19
Federation Asset Management chairman Greg Bundy says financial markets will keep falling, as he does not expect the US-China trade war to be resolved for some time. Matt Sherwood of Perpetual agrees that there is unlikely to be a quick resolution to the trade dispute. Bearish sentiment slashed the value of Australian stocks by around $26bn on 26 August, while the yield on 10-year Australian government bonds fell to 0.88 per cent. Shares in gold producers also rallied as investors sought out ‘safe-haven’ assets.
FEDERATION ASSET MANAGEMENT, PERPETUAL LIMITED – ASX PPT, STANDARD AND POOR’S ASX 200 INDEX, UNITED STATES. EXECUTIVE OFFICE OF THE PRESIDENT
Original article by Glenda Korporaal, Simon Benson
The Australian – Page: 1 : 27-Aug-19
Prime Minister Scott Morrison has welcomed indications that the US and China are open to resolving their trade dispute, but cautions that there have been similar overtures before. Morrison adds that the US has some "legitimate" grievances, and notes that the trade war has had an impact on both the Australian and global economies. President Donald Trump says the Chinese government has asked US trade officials to resume negotiations, adding that the US will begin "talking very seriously" with China.
AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, UNITED STATES. EXECUTIVE OFFICE OF THE PRESIDENT, GROUP OF SEVEN (G-7), RESERVE BANK OF AUSTRALIA, STANDARD AND POOR’S ASX 200 INDEX, DOW JONES INDUSTRIAL AVERAGE INDEX, HANG SENG INDEX, SHANGHAI COMPOSITE INDEX
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 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.
AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, GROUP OF TWENTY (G-20), WORLD TRADE ORGANIZATION
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.
INTERNATIONAL MONETARY FUND
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.
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