China Trade Dispute Worries Investors

Apple's CEO Tim Cook on a visit to China in 2014

For battery storage, the products included in the latest tariff lists account for a small portion of US imports according to Ravi Manghani, director of energy storage at GTM Research.

"The actions President Trump has taken are purely defensive in nature", he said, asserting that "China does have much more to lose" because it sells so much more to the USA than it buys.

And the markets are unnerved.

Intel Corp, the world's biggest chipmaker by revenue and a prominent U.S. manufacturer, could avoid the most severe effects of a new list of Chinese tariffs proposed by U.S. President Donald Trump by shifting its production among its facilities, analysts said Monday.

The Standard and Poor's 500-stock index was down almost 0.5 per cent and the tech-heavy Nasdaq Composite lost 0.7 per cent.

Addressing concerns that such a conflict could lead to worsening bilateral ties between Washington and Beijing, .

Trump, pursuing his "America First" policy, has been insisting that China has been unfairly benefitting from a massive trade imbalance with the United States, now estimated to be Dollars 376 billion. And those negotiations appeared to be going well - for Beijing, anyway.

As Louis Kuijs of Oxford Economics notes, a large share of China's exports are for USA companies that sell products here at home.

But Stateside, these developments suffered a chilly reception. American companies had US$627 billion in assets and US$482 billion in sales in China in 2015, compared to just US$167 billion in United States assets and US$26 billion in United States sales for Chinese companies, according to a report published on Tuesday by China International Capital analysts Liu Liu and Liang Hong.

The latest United States and China trade dispute has anxious investors and affected stock prices and the indexes that measure them.

This move from President Trump could be counted as a countermeasure to China's decision to raise tariffs about $50 Billion on U.S products.

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The White House was not pleased.

In a statement published shortly after Monday's announcement, China's Ministry of Commerce called the move "blackmail".

"Rather than altering those practices, it is now threatening United States companies, workers, and farmers who have done nothing wrong".

U.S. President Donald Trump has unleashed another attack against Canada, accusing this country of so unfairly charging duties on U.S. goods that Canadians are driven to smuggle consumer items across the border between the two countries.

Even before Mr. Trump threatened to escalate the tariff fight with China, CEO confidence in economic growth was ebbing.

Further, China's command economy provides Xi Jinping with plenty of tools for insulating his citizens from price increases - while the nation's authoritarian political system insulates him from any popular backlash that modest price hikes might produce.

By contrast, Trump's supporters in agricultural areas are already bristling at his protectionism.

"All they can do is impose higher tariffs on a smaller subset of products", he said.

The Canadian dollar weakened to a one-year low of C$ 1.3237 overnight, before paring some of its losses, as investors anxious about Canada's trade feud with the United States.

Yesterday, People's Bank of China Governor Yi Gang said policymakers are prepared for outside shocks and that investors should take a rational view. Which is to say: Beijing is using violations of worldwide trade rules in a bid to reshape the global economy in a manner that will weaken the West relative to China.

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