China exempts 16 US products from tarriffs

China on Wednesday announced plans to exempt 16 types of U.S. products from additional tariffs, including food for livestock, cancer drugs and lubricants. The exemption, which is scheduled to go into effect from September 17, will be valid for a year through to September 16, 2020. The announcement comes as high-level trade officials from China and the U.S. prepare to meet in Washington next month. It will mark their latest attempt to resolve a protracted trade dispute. Washington and Beijing have imposed tariffs on billions of dollars’ worth of one another’s goods since the start of 2018, battering financial markets … Continue reading China exempts 16 US products from tarriffs

Why Trump prefers Draghi over Powell

Central bankers rarely say anything that sticks in the memory. Mark Carney has been at the Bank of England for the past six years and is known as the rock star central banker, and not always in a good way. His answers to questions at press conferences are often like solos from the lead guitarist of a 1970s prog rock band: long and boring. Indeed, only two central bankers have ever come up what might be called zingers. William McChesney Martin, who ran the US central bank for almost two decades from 1951 to 1970, said the Federal Reserve was in the position of … Continue reading Why Trump prefers Draghi over Powell