The phase one U.S. and China trade deal just avoided another level of escalating tariffs, and it might signal further agreement between the countries. This is the best stock to buy before the trade war resolves.
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Last Monday (August 5), President Donald Trump announced the United States would impose an additional 10% tariff on $300 billion of Chinese goods by Sept. 1.
That’s the latest in a year-long flurry of trade blows between the U.S. and China.
But it’s not the last.
The trade war is the biggest story affecting Wall Street this year, but investors may not realize just how tied their wealth is to it.
Today, we’ll show you five ways the trade war affects your money and what you can do to protect it.
The Trump trade war is escalating by the day, and that's bad news for ordinary
Americans. Although the target is primarily China, it is working Americans who will bear
the cost through higher prices and lost jobs. Until now, U.S. consumers have not
experienced much impact from the Trump tariffs.
On Sunday (Feb. 24), President Trump announced that the United States would hold off on imposing a 25% tariff on $200 billion worth of Chinese goods on March 1.
Global markets greeted the announcement with elation - the Dow Jones jumped nearly 300 points in Monday's trading session while the Shanghai Stock Exchange surged a record 5%.
On Wednesday (Nov. 28) the leaders of the world's 20 largest economies will gather in Buenos Aires, Argentina, for the 2018 G-20 Summit.
The annual meeting is intended to foster dialogue between all leaders about global economic health.
However, all eyes will be on just two heads of state: U.S. President Donald Trump and Chinese President Xi Jinping.
On Monday, the United States imposed tariffs on roughly $200 billion worth of Chinese goods, bringing to total amount of China's exports under pressure to $250 billion.
Last week (Aug. 22), Germany's foreign minister, Heiko Maas, proposed a way for Europe to skirt U.S. sanction policy and upset the international financial order.
Maas, writing for the German business magazine Handensblatt, argued that Europe should establish an independent financial payments system to protect European companies from U.S. sanctions and tariffs.
This week, American and Chinese trade representatives met in Washington to discuss deteriorating trade relations between the world's largest trading partners.
Despite two days of intense negotiations, both parties failed to make any significant breakthroughs on the escalating tariffs both nations have imposed.
When the White House introduced its first wave of tariff policies in January, American manufacturers like Whirlpool Corp. expected these competitive trade policies to put them ahead of the game.
Following the White House's statement, Whirlpool announced it was hiring 200 full-time workers in Ohio in anticipation of increased product demand.
President Trump's imposition of tariffs on imported steel and aluminum are creating tremendous profit opportunities in steel and aluminum stocks.
However, the best tariff stock to buy isn't in the steel or aluminum industry - it's a tech company that's positioned to revolutionize steel production and produce explosive profits while doing it.
Money Morning Director of Technology & Venture Capital Research Michael Robinson has found a tech company that is at the forefront of bringing factory automation and innovation to steel manufacturing - a trend Markets and Markets says could net upward of $153 billion annually in the next four years...
Investors are well aware of the potential impact President Trump's tariffs could have on the economy.
However, almost everyone is overlooking how these new tariffs will impact the Federal Reserve's approach to managing interest rates.
You see, the Federal Reserve sets interest rates based on the current rate of inflation. And it's highly likely that the current rate of inflation will be directly impacted by the administration's new steel tariffs.
And that's just one example.
The market scare on news that North Korea had, indeed, sunk a South Korean Naval vessel was another. The "flight to safety" in U.S. Treasuries - sparked by the increasing concern about the future of the euro and the viability of Greek government finances - is a third.
All over the world, little by little, the apparently inexorable tide of "globalization" - making the world "flat" in the words of Thomas L. Friedman - is retreating. If a full-scale financial crisis breaks out in the next few months, that retreat will become a rout. And the world will become de-globalized.
China's commerce ministry said the new tariffs, which will impose charges of as much as 31.4% on imports of U.S. chicken, were a response to what it said were subsidies that created an unfair advantage for U.S. chicken producers.
China in February imposed a 105.4% duty on imports of U.S. poultry after a government investigation found that such products were being sold by the United States at less than the fair value. The new tariffs could altogether close off the market to U.S. poultry producers.
China and the United States have a long history of trade disputes, but these conflicts in recent years have escalated in both frequency and intensity as the two nations vie for global influence.