While the #UnitedStates and #China are locked in a costly #tradewar, #IvankaTrump’s clothing and shoe business is not only exempted from the tariffs - it is in the pink. US President Donald #Trump’s daughter has long had her apparel and shoes #madeinChina and thanks to a major exemption for Chinese garment and footwear in the tariffs dispute, the #clothingindustry looks likely to be left unscathed.

The US imposed an additional 25% tariff on US$34bn worth of Chinese goods on Friday (July 6). Among the sectors affected were nuclear reactors, boats and aircraft, but #clothing was exempted. According to the American #Apparel and #Footwear Association, about a third of the clothing and 72% of the shoes sold in the US are from China. One of those importers is the eponymous fashion label of Ivanka Trump, the president’s daughter and adviser.


#WorldEconomy #Protectionism #America #Globalisation #GlobalTrade #TradeWars #EconomicRisk #Economy #TradePolicy #InternationalTrade #TradeTariffs #Politics #Geopolitics #InternationalRelations #USA #GlobalTradeWar
As trade war rages, the shoe biz goes on for Ivanka Trump and her Chinese suppliers
https://www.scmp.com/news/china/diplomacy-defence/article/2154219/trade-war-rages-shoe-biz-goes-ivanka-trump-and-her

#5G is about much more than high-speed #mobile #internet. It is being touted as a #technology that could support the next generation of infrastructure, from the billions of internet-connected devices expected to come online in the next few years, to #smartcities and #driverlesscars. 5G could be key to President Donald #Trump's pledge to 'make America great again' and #China's ambition to be the world leader in #artificialintelligence ( #AI) by 2030. At stake is trillions of dollars of economic value. In 2035, 5G is expected to enable $12.3tn of global economic output, according to IHS Markit.

While the #US has been pushing back against China, the world's second-largest economy has been looking to leave its mark on other countries in terms of 5G. Huawei has been lobbying Australian politicians. The FT revealed that the Chinese giant was the biggest corporate sponsor of overseas trips for Australian lawmakers. The Portuguese arm of telecoms firm Altice teamed up with Huawei to roll out 5G networks.


#WorldEconomy #Protectionism #America #Globalisation #GlobalTrade #TradeWars #EconomicRisk #Economy #TradePolicy #InternationalTrade #TradeTariffs #Politics #Geopolitics #InternationalRelations #USA #GlobalTradeWar #TechWar #TechnologyWar
A major factor behind the US-China #tradewar is winning at a $12 trillion technology — 5G
https://www.cnbc.com/2018/07/06/a-major-factor-behind-the-us-china-trade-war-is-winning-in-a-crucial-t.html

German Chancellor #AngelaMerkel called talk of a trade surplus 'outdated.' She explained that, 'if services were included in the trade balance, then the #US would have a major surplus over #Europe!' Mr. #Trump is right that the US has a goods deficit with the #EuropeanUnion. Think of all those BMWs, Mercedes, the champagne, the Haribo sweets. But Ms. Merkel is right that, if you add services and corporate profits to the equation - that is, the Apples, Googles, Facebooks, Amazons - the US comes out on top. The 2017 figures above came from the US Commerce Department.

One also needs to consider the 'new economy' of digital companies. If you look at services and corporate profits alone in that area, the US has a 'surplus' of some $167bn. About $51bn of that is simply from exporting services. More than $100bn comes from cash inflows back into the US. On the surface, that accounts for a surplus. The trouble is, not only does Facebook offer fewer jobs than BMW, but figuring out exactly which country benefits from the 'digital economy' is a murkier business.


#WorldEconomy #Protectionism #America #Globalisation #GlobalTrade #TradeWars #EconomicRisk #Economy #TradePolicy #InternationalTrade #TradeTariffs #Politics #Geopolitics #InternationalRelations #USA #GlobalTradeWar
The truth about #Germany's trade surplus
https://global.handelsblatt.com/finance/truth-germanys-trade-surplus-941592

German Chancellor #AngelaMerkel has warned the #Trump administration that hitting auto imports with new tariffs would have dire consequences. President Donald Trump has threatened to place a 20% tariff on all European cars coming to the #UnitedStates if the #EuropeanUnion doesn't remove its own trade barriers.

Targeting cars would dramatically raise the stakes in the spat between #Europe and its biggest trading partner. #EU - #US trade in goods and services is worth more than €1tn euros ($1.2tn) each year. The European Union said earlier this week that America's trading partners could retaliate against nearly $300bn of US exports if the Trump administration decides to penalize automobile imports from around the world.


#WorldEconomy #Protectionism #America #Globalisation #GlobalTrade #TradeWars #EconomicRisk #Economy #TradePolicy #InternationalTrade #TradeTariffs #Politics #Geopolitics #InternationalRelations #USA #GlobalTradeWar #Germany #AutoIndustry
Angela Merkel: US auto tariffs could start trade war
https://money.cnn.com/2018/07/04/news/economy/angela-merkel-germany-trade-war/index.html