Apr 04, 2018 08:23 AM IST | Source: Moneycontrol.com
News Live: US proposes $50bn tariffs on 1,300 Chinese products
This blog will keep track of key global and local developments impacting business and markets through the day. Important local and global political developments will also find resonance here.
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US proposes $50bn tariffs on 1,300 Chinese products
National Guard part of Trump's Mexico border strategy: White House
Trump says he thinks he could have a good relationship with Putin
US proposes $50bn tariffs on 1,300 Chinese products
The US proposed imposing 25% tariffs on about $50 billion worth of Chinese-made products, focusing on high-tech items from semiconductors to lithium batteries while seeking to minimise the impact on American consumers, reports Bloomberg. The US is targeting 1,300 product lines to try and force China to change its intellectual property practices, the US Trade Representative’s office said.
National Guard part of Trump's Mexico border strategy: White House
President Donald Trump’s strategy for the US-Mexico border includes mobilising the National Guard, the White House said, after Trump had spoken publicly about ‘guarding our border with the military’ to stop illegal immigrants. The White House statement was released after Trump met with Defence Secretary James Mattis, Attorney General Jeff Sessions and other officials on border issues. It gave no details on whether or when Trump’s strategy might be implemented, reports Reuters.
Japan March services PMI shows slowest growth in 17 months as new orders ebb
Activity in Japan’s service sector expanded at the slowest pace in 17 months in March as new business growth cooled, suggesting a slight moderation in overall economic growth, reports Reuters. The Markit/Nikkei Japan Services Purchasing Managers Index (PMI) fell to 50.9 in March on a seasonally adjusted basis from 51.7 in February.
Trump says he thinks he could have a good relationship with Putin
US President Donald Trump, standing alongside presidents of Estonia, Lithuania and Latvia most concerned about the potential for aggression from Moscow, said he thought he could have a good relationship with Russian President Vladimir Putin, reports Reuters. Trump said, “It’s a real possibility that I could have a good relationship” with Putin, but acknowledged it was not a certainty. He also said that ‘nobody has been tougher’ on Russia than him but noted that ‘getting along’ with the Kremlin would be beneficial for the US.
Market trivia: The correction in the BSE 500 index has been steeper than that in the BSE Sensex, which has corrected about 9%. The average mean correction of the BSE 500 index companies from their 52-week highs is over 24%. The median correction level is over 22%. 59% of the BSE 500 index companies have corrected more than 20%. Moreover, not a single company in the BSE 500 index was trading at its 52-week high.