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☆ U.S. announces new export controls on China’s chip industry
▼ + stars: | 2024-12-03 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms | ) www.nbcnews.com time to read: +6 min

The United States on Monday launched its third crackdown in three years on China’s semiconductor industry, curbing exports to 140 companies, including chip equipment maker Naura Technology Group, among other moves. Chinese companies facing new restrictions include nearly two dozen semiconductor companies, two investment companies and over 100 chipmaking tool makers. The companies include Swaysure Technology Co., Si’En Qingdao and Shenzhen Pensun Technology Co., which work with China’s Huawei Technologies. The telecommunications equipment leader has been hobbled by U.S. sanctions and is now at the center of China’s advanced chip production and development. However, it remains years behind chip industry leaders like Nvidia in AI chips and chip equipment maker ASML in the Netherlands.

Persons: Beijing’s, Biden, Donald Trump, Gina Raimondo, ”, Lam, Lin Jian, JAC, China’s, ASML Organizations: Monday, Naura Technology, ACM Research, SiCarrier Technology, ” Reuters, Lam Research, ASM International ., Swaysure Technology, Si’En, Shenzhen Pensun Technology, China’s Huawei Technologies, Semiconductor Manufacturing, Co, Capital, Wingtech Technology, JAC Capital, ”, U.S Locations: States, China, U.S, Singapore, Malaysia, Si’En Qingdao, Shenzhen, Netherlands, United States, Israel, South Korea, Taiwan, Japan

☆ China hits back at Biden's chip restrictions by banning shipments of key materials to the US
▼ + stars: | 2024-12-03 | by ( Robert Scammell | ) www.businessinsider.com time to read: +3 min

AdvertisementChina's Ministry of Commerce said on Tuesday it will halt shipments of key materials to the US. China's Ministry of Commerce said it was responding to fresh US chip export bans, announced Monday. China has retaliated against the Biden administration's semiconductor export controls by banning shipments of key materials to the US, ramping up the global chip war ahead of Donald Trump's second term. AdvertisementThe so-called "dual-use" materials include gallium, germanium, antimony, and superhard materials. AdvertisementChina's retaliation follows President Joe Biden's third wave of sanctions against US companies exporting materials to China's chip industry, announced on Monday.

Persons: Donald Trump's, Joe Biden's, Gina Raimondo, Trump, Logan Paul Organizations: China's, of Commerce, China's Ministry of Commerce, Biden, Geological Survey, Huawei, Semiconductor Manufacturing International Corp, Reuters, The New York Times, Department, Commerce Locations: China, Republic

☆ How UK Export Finance is supporting ethnic minority-led businesses to achieve their global ambitions
▼ + stars: | 2024-12-03 | by ( Sponsored Uk Export Finance | ) www.businessinsider.com time to read: +7 min

UK Export Finance helps ethnic minority-led businesses win, fulfill, and get paid for international business by providing guarantees, insurance and loans to support export activities. UK Export Finance (UKEF) is the UK government's export credit agency. UKEF can help ethnic minority-led businesses through its network of regional Export Finance Managers (EFMs) based around the UK. Once a business has an export plan in place, UK Export Finance can make it a reality by providing finance support. Supporting ethnic minority-led businesses to access export financeEthnic minority-led businesses contribute £25 billion to the UK economy per year, according to research from the Federation of Small Business.

Persons: Hitesh Patel, EFMs, Alissia Deane, Patel, Deane, they're, it's Organizations: Export Finance, UKEF's Export Insurance, Department for Business and Trade, Federation of Small, UK Finance, Research, The British Business Bank, London Chamber of Commerce, Venture Capital, UKEF, Department for Business, Trade, UK Export Finance, Insider Studios Locations: London, West Yorkshire, DBT, UKEF

☆ Asian chip stocks mostly rise, shrugging off new U.S. semiconductor export curbs on China
▼ + stars: | 2024-12-03 | by ( Dylan Butts | ) www.cnbc.com time to read: +3 min

Major Asian chip stocks outside of China rose Tuesday, shrugging off a new round of U.S. semiconductor export curbs aimed at impairing Beijing's capability to produce certain high-end chips. Taiwan Semiconductor Manufacturing Company — the world's largest contract chip supplier — saw shares rise 2.4%. The Biden administration's latest chip curbs will also target sales of high-bandwidth memory chips, which could affect the world's two largest memory chip makers — South Korea's SK Hynix and Samsung. Naura Technology Group , Piotech and ACM Research were among the largest Chinese companies to be included in the export controls list. The latest export restrictions include a new "red flag guidance" to address compliance concerns, and several "critical regulatory changes" to enhance the effectiveness of existing controls.

Persons: shrugging, Lasertec, Advantest, Biden, Derrick Irwin, CNBC's, Gina Raimondo, Harris Administration's, TSMC Organizations: Taiwan Semiconductor Manufacturing, Korea's SK Hynix, Samsung, Samsung Electronics, SK Hynix, Allspring Global Investments, The, of Commerce, Naura Technology, Piotech, ACM Research, Semiconductor Manufacturing International Corporation, Hong Kong . U.S, Biden, Huawei Locations: China, Tokyo, Korea's, Hong Kong .

☆ South Korea's inflation climbs in November, but misses expectations
▼ + stars: | 2024-12-03 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +1 min

South Korea's inflation rate climbed in November to 1.5% year on year, from a 45-month low in October, as the country grapples with a weakening Korean won and slowing exports. Last Thursday, South Korea's central bank unexpectedly cut rates by 25 basis points to 3%, marking the first time that the Bank of Korea had enacted two back-to-back cuts since 2009. South Korea narrowly avoided a technical recession in the third quarter, with GDP growing 0.1% quarter on quarter, according to the bank's advance estimates, following a contraction of 0.2% in the second quarter. South Korea's currency has weakened against the greenback over October and November, hitting a two-year high of 1,411.31 as tariff fears from the incoming Trump administration take hold. Data from the World Integrated Trade Solution platform — set up by the World Bank — lists the U.S. as South Korea's second largest trade partner.

Persons: BOK Organizations: Reuters, Bank of, Trump, World, World Bank Locations: Seoul, Korean, Bank of Korea, Korea

☆ Expect a rotation out of AI chip manufacturers to software companies in next 6-12 months: Ray Wang
▼ + stars: | 2024-12-02 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailExpect a rotation out of AI chip manufacturers to software companies in next 6-12 months: Ray WangRay Wang, Constellation Research founder, chairman and principal analyst, joins 'Squawk Box' to discuss the U.S. Commerce Department's new crackdown on chip exports to China, latest trends in AI, winners and losers in the sector, and more.

Persons: Ray Wang Ray Wang Organizations: Constellation Research, U.S . Commerce Locations: China

☆ Zelenskyy said Ukraine could join NATO without Article 5 applying to its occupied territory
▼ + stars: | 2024-12-02 | by ( Matthew Loh | ) www.businessinsider.com time to read: +5 min

AdvertisementVolodymyr Zelenskyy has been pushing this week for NATO to invite Ukraine to join its alliance. He said on Sunday that NATO's self-defense pact wouldn't have to apply to Ukraine's occupied territory. Ukrainian President Volodymyr Zelenskyy said on Sunday that his country could join NATO without the alliance's collective self-defense agreement applying to its territory occupied by Russia. Related Video Zelenskyy calls out Russian 'genocide' in Ukraine, demands action at UNSpeaking at a press conference in Kyiv, Zelenskyy said that any invitation for Ukraine to join NATO still has to recognize all of its territory as Ukrainian, including areas occupied by Russia. There would be no obligation for the rest, which is the Ukrainian territory seized by Russia in the east.

Persons: Volodymyr Zelenskyy, Zelenskyy, Vladimir Putin, Donald Trump, Trump, —, Putin, they're Organizations: NATO, UN, Sky News, Ukraine Locations: Ukraine, Russia, Moscow, Kyiv, Kharkiv, Ukrainian, Germany, Slovakia, Hungary, Canada, Turkey

☆ Syria's 13-year frozen war has ignited again after allies Russia and Iran let down their defenses
▼ + stars: | 2024-12-02 | by ( Tom Porter | ) www.businessinsider.com time to read: +4 min

It comes as Syria's powerful allies, Iran and Russia, are distracted with other conflicts. With Russia and Iran distracted by regional conflicts, a stagnant 13-year-long civil war in Syria has exploded into renewed violence. It's the most intense outbreak of fighting in the war since Syrian government forces, backed by Iran and Russia, drove rebels back to their strongholds in the north eight years ago, and a stalemate developed. "Israel has changed the balance of power in the region by going on this all-out war on the axis of resistance." Meanwhile, Russia, whose 2015 entry into the Syrian Civil War was crucial in propping up the Assad regime, has problems of its own.

Persons: Tahrir, Sham, Bashar al, Assad, who've, that's, Joshua Landis, Charles Lister, it's Organizations: Rebels, Syrian Observatory, Human Rights, University of Oklahoma, New York Times, Middle East Institute, Turkey Locations: Syria, Hayat, Aleppo, Iran, Russia, Hama, Idlib, Sunday, Israel, Syrian, Tunisia, Egypt, Gaza, Lebanon, Tehran, Ukraine

☆ Latest U.S. strike on China's chips hits semiconductor toolmakers, Reuters reports
▼ + stars: | 2024-12-02 | by ( ) www.cnbc.com time to read: +4 min

A Chinese flag is displayed next to a "Made in China" sign seen on a printed circuit board with semiconductor chips, in this illustration picture taken February 17, 2023. Florence Lo | ReutersThe U.S. will launch its third crackdown in three years on China's semiconductor industry on Monday, restricting exports to 140 companies including chip equipment maker Naura Technology Group , among other moves, according to two people familiar with the matter. Among Chinese companies facing new restrictions are nearly two dozen semiconductor companies, two investment companies and over 100 chipmaking tool makers, the sources said. However, it remains years behind chip industry leaders like Nvidia in AI chips and chip equipment maker ASML in the Netherlands. For the first time, the U.S. will add two companies that make investments in chips to the entity list.

Persons: Florence Lo, Beijing's, Biden, Donald Trump, Lam Organizations: Reuters, U.S, Naura Technology, SiCarrier Technology, Republican, Lam Research, ASM International, Swaysure Technology Co, Qingdao SiEn, Shenzhen Pensun Technology, China's Huawei Technologies, Semiconductor Manufacturing, Capital, Wingtech Technology, Companies Locations: China, U.S, Singapore, Malaysia, Qingdao, Shenzhen, Netherlands, Israel, Taiwan, South Korea, Japan

☆ Biden fires a parting shot at China's chip industry ahead of Trump's second term
▼ + stars: | 2024-12-02 | by ( Riddhi Kanetkar | ) www.businessinsider.com time to read: +3 min

The move aims to curb China's AI and defense tech growth, citing national security risks. Trump previously billed China as the main threat to the US AI industry. The US announced another round of export controls on China's semiconductor industry on Monday, multiple outlets reported, weeks ahead of Donald Trump's second term. Previous comments from Trump suggest he is aligned with the Biden administration when it comes to thwarting China's AI growth. In a June interview with social media personality Logan Paul, Trump billed China as the "main threat" to the US AI industry.

Persons: Trump, Donald Trump's, Gina Raimondo, Biden, Logan Paul, Mao Ning, US Department of Commerce didn't Organizations: US, Naura Technology Group, Semiconductor Manufacturing International Corporation, Huawei, Financial Times, New York Times, China, Reuters, People's Liberation Army, South China Morning Post, US Department of Commerce, Business Locations: China, Washington, Republic, Beijing, Trump . China

☆ A Chinese invasion of Taiwan would depend on seizing its ports. That won't be easy.
▼ + stars: | 2024-12-01 | by ( ) www.businessinsider.com time to read: +7 min

AdvertisementA Chinese invasion of Taiwan must focus on seizing a port to bring in tanks and supplies. Related Video China shows how it would attack Taiwan as tensions riseAs it contemplates an invasion of Taiwan, China is well aware of this problem. And beach assaults like D-Day come with the risk that Taiwanese troops could bottle up the attackers. Once it is captured, Chinese forces will dig in to resist a counterattack, while engineers repair the docks and clear the shipping lanes. In the end, the fate of an invasion of Taiwan turns on which side controls the ports.

Persons: Ian Easton, Easton, Horatio Nelson, Michael Peck Organizations: China Maritime Studies, US Naval War, Army, People's Liberation Army, Getty, PLA, Communist Party, Taiwan, Defense, Foreign Policy, Rutgers Univ, Twitter, LinkedIn Locations: Taiwan, China, Easton, AFP, Taichung, Kaohsiung, Mailiao, Taipei, Dieppe, France, Normandy, Brest, Cherbourg, Forbes

☆ Here’s why Americans traveling to Europe may find bargains in 2025
▼ + stars: | 2024-11-30 | by ( Greg Iacurci | ) www.nbcnews.com time to read: +5 min

Americans traveling to Europe next year may be in store for some bargains. “That’s a good thing for American tourists traveling abroad in Europe,” said Brendan McKenna, an international economist at Wells Fargo Economics. Now, euro parity is “back on the cards,” James Reilly, senior markets economist at Capital Economics, wrote in a research note Nov. 11. For one, the U.S. economy has “held up a lot better than anyone has been expecting” over the past year or two, in stark contrast with Europe, Reilly said. Of course, there’s a risk Europe retaliates with its own tariffs or somehow penalizes Americans by raising certain consumer prices, such as airfares, Reilly said.

Persons: “, ”, Brendan McKenna, Donald, ” James Reilly, Reilly, it’s, Trump, ” Reilly, McKenna, Wells Organizations: U.S ., U.S, Wells, Wells Fargo Economics, European Union, Capital Economics, ICE, CNBC, Travelers, U.S . Federal, European Central Bank, ECB, Treasury Locations: Europe, Wells Fargo, Austria, Belgium, Croatia, Cyprus, Estonia, Finland, France, Germany, Greece, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, Netherlands, Portugal, Slovakia, Slovenia, Spain, China, Canada, Mexico, U.S, Trump

☆ Canada's Trudeau meets with Trump in Mar-a-Lago amid tariffs threat
▼ + stars: | 2024-11-30 | by ( Freddie Clayton | Freddie Clayton Is A Freelance Journalist Based In London. | ) www.nbcnews.com time to read: +2 min

Canadian Prime Minister Justin Trudeau is in Florida to meet with Donald Trump just days after the president-elect threatened to impose a 25% tariff on Canadian goods. Trudeau’s plane landed Friday evening at Palm Beach International Airport, which is used by Trump when he travels to his Mar-a-Lago estate. Canadian Prime Minister Justin Trudeau. David Kawai / Bloomberg via Getty ImagesThe two men spoke on the phone earlier this week after Trump announced his tariff plan. Trump has frequently promised to implement more tariffs during his campaign, especially on China.

Persons: Justin Trudeau, Donald Trump, David McCormick, Donald Trump Jr, Kimberly Guilfoyle, Trump, Trudeau, Doug Burgum, David Kawai, ” Trump, Joe Biden, ” Biden Organizations: Canadian, Palm Beach International Airport, Trump, Pennsylvania, North, Bloomberg, Getty, U.S . Trade, U.S Locations: Florida, Lago, North Dakota, Mexico, Canada, U.S, China

Economists broadly dislike tariffs, saying they tend to increase prices for consumers — a likelihood that many company executives are already warning of. The new slate of tariffs Trump calls for would be much steeper and more far-reaching if fully implemented. “In his first term, President Trump instituted tariffs against China that created jobs, spurred investment and resulted in no inflation,” Trump transition spokeswoman Karoline Leavitt said in a statement. Angie Chua, founder of Bobo Design Studio, is considering adding a line item to show customers how tariffs affect her prices. How do you even forecast for that?”Hadley Douglas, left, pictured with her husband, TJ Douglas, said steep tariffs could drive small wine distributors out of business.

Persons: they’d, Trump, Karoline Leavitt, “, Chris Smith, Smith, He’s, Angie Chua, Bobo, Kristina Bumphrey, Chua, ”, ” Chua, doesn’t, ” Hadley Douglas, TJ Douglas, John Tlumacki, Hadley Douglas, Douglas, ” Douglas, Joe Hakim, he’s Organizations: NBC, Trump, “, Virginia Beer Company, Bobo Design, Bobo’s, Boston Globe, Getty, Boston, U.S . Chamber, Commerce’s Small Business Council Locations: China, Williamsburg , Virginia, Palm Springs , California, Boston, Redford , Michigan

☆ Canada Prime Minister Trudeau visits Florida to meet with Trump amid tariff threat
▼ + stars: | 2024-11-30 | by ( ) www.cnbc.com time to read: +2 min

Canada's Prime Minister Justin Trudeau takes part in a press conference about the Royal Mounted Police's investigation into "violent criminal activity in Canada with connections to India", on Parliament Hill in Ottawa, Ontario, Canada October 14, 2024. Canadian Prime Minister Justin Trudeau visited Donald Trump's Florida resort on Friday to meet with the U.S. president-elect, days after Trump threatened to slap tariffs on Canadian imports over border-related concerns. Trudeau, whose public itinerary did not list a scheduled visit to Florida, was seen leaving a hotel in West Palm Beach, Florida, to go to Trump's Mar-a-Lago resort, according to a Reuters witness. Trudeau this week pledged to stay united against Trump's tariff threat and called a meeting with the premiers of all 10 Canadian provinces to discuss U.S. relations. Canadian Public Safety Minister Dominic LeBlanc is traveling with Trudeau, CBC News reported.

Persons: Justin Trudeau, Donald Trump's, Trump, Trudeau, Trump's, Dominic LeBlanc Organizations: Canada's, Royal Mounted, Canadian, U.S, Officials, Trump, Conservative, Canadian Public, CBC News, Reuters Locations: Canada, India, Ottawa , Ontario, Donald Trump's Florida, Florida, West Palm Beach , Florida, Lago, Mexico, China

☆ Trump’s tariffs could push up the price of your favorite beer (and tequila)
▼ + stars: | 2024-11-30 | by ( Alicia Wallace | ) edition.cnn.com time to read: +7 min

Some business owners have started stockpiling popular products — specifically tequila, which can be made only in Mexico — and taking other actions to help stave off potential price hikes. At this stage, the tariffs are technically still just talk, with plenty of caveats and scenarios strewn about. Meximodo, a restaurant in Metuchen, New Jersey, holds a Guinness World Records title for its collection of tequila, mezcal and agave spirits. In 2023, the US imported $5.69 billion of beer and $4.81 billion of alcohol from Mexico, according to International Trade Administration data. The Grupo Modelo factory in Mexico City, Mexico, on May 15, 2020.

Persons: CNN —, they’re, Donald Trump, ”, Dave Williams, Bump, Noble, Chris Carey, Williams, “, Meximodo, TJ Pingitore, Le Malt’s, Alexander Lewis, ” Pingitore, ” Saurabh Abrol, Abrol, Hector Vivas, it’s, Chris Swonger, ” Swonger, Swonger, Katie Marisic, Justin Sullivan, Marisic Organizations: CNN, CNN — Beer, Modelo, Bump Williams Consulting, Constellation Brands, Le Malt Hospitality, North, USA, International Trade Administration, Trade Administration, Grupo Modelo, European Union, Brewers Association, Trump, “ Breweries Locations: Canada, Mexico, Corona, Wells Fargo, Mexican, Metuchen , New Jersey, Meximodo, North America, New York, China, United States, Mexico City, American, San Carlos , California

☆ Here's why Americans traveling to Europe may find bargains in 2025
▼ + stars: | 2024-11-30 | by ( Greg Iacurci | ) www.cnbc.com time to read: +4 min

The currency most recently hit parity with the dollar in 2022, for the first time in two decades, before rebounding. watch nowNow, euro parity is "back on the cards," James Reilly, senior markets economist at Capital Economics, wrote in a research note Nov. 11. Tariffs, interest rates and a strong economyTariffs and trade policy are major factors influencing euro-USD currency dynamics, economists said. James Reilly senior markets economist at Capital EconomicsTariffs on Europe could reduce demand for its exports, causing Europe's economy to weaken and the euro to lose value, economists said. Interest-rate differentials also have a large influence on relative currency movements, economists said.

Persons: Oscar Wong, James Reilly, Reilly, it's, Trump, McKenna, Wells Organizations: U.S ., European Union, Capital Economics, ICE, CNBC, Travelers, U.S, U.S . Federal, European Central Bank, ECB, Treasury Locations: Austria, Belgium, Croatia, Cyprus, Estonia, Finland, France, Germany, Greece, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, Netherlands, Portugal, Slovakia, Slovenia, Spain, China, Canada, Mexico, Europe, Wells Fargo, U.S, Trump

☆ Buy Big Tech firms with exposure to emerging markets, says veteran investor Mark Mobius
▼ + stars: | 2024-11-29 | by ( Shafi Musaddique | ) www.cnbc.com time to read: +1 min

U.S. tech companies with a focus on emerging markets offer the best investment opportunities for the coming year, according to veteran emerging markets investor Mark Mobius. So, what I would do is focus on companies and industries that are taking advantage of technology to improve productivity," the chairman of the Mobius Emerging Opportunities Fund said in an interview with CNBC last week. U.S.-based companies geared toward China and India, as well as other major emerging market economies, are well positioned, he added. Investors should also consider firms taking advantage of what Mobius calls "accelerated information," such as chip manufacturers. His comments come as emerging markets that produce semiconductors enjoy an economic boom, with Taiwan — which makes most of the advanced chips in circulation — a particular success story.

Persons: Mark Mobius, Abdul Rasheed Ghaffour Organizations: Fund, CNBC, Washington , D.C Locations: U.S, China, India, Taiwan, ASEAN, Southeast Asia, Washington ,

☆ Euro zone inflation climbs to 2.3% in November, meeting expectations
▼ + stars: | 2024-11-29 | by ( Jenni Reid | ) www.cnbc.com time to read: +2 min

Sebastian Kahnert | Picture Alliance | Getty ImagesAnnual euro zone inflation rose to 2.3% in November, statistics agency Eurostat said Friday, climbing back above the European Central Bank's 2% target. Economists polled by Reuters had expected the 2.3% annual rate for the month, up from 2% in October. Core inflation, excluding volatile energy, food, alcohol and tobacco prices, held at 2.7% for a third straight month in November. Inflation came in slightly higher than forecast in October, while ECB policymakers, including executive board member Isabel Schnabel, have stressed the need for caution in monetary easing. The ECB's decision will largely be informed by the latest staff macroeconomic projections it will receive just ahead of its upcoming Dec. 12 meeting.

Persons: Sebastian Kahnert, Price, Isabel Schnabel, Donald Trump Organizations: Getty, Eurostat, Central, Reuters, ECB Locations: Dresden, Union

☆ How China Became the World’s Largest Car Exporter
▼ + stars: | 2024-11-29 | by ( Agnes Chang | Keith Bradsher | ) www.nytimes.com time to read: +11 min

How China Became the World’s Largest Car ExporterChina 5.7 million cars exported Japan Mexico Germany South Korea Top car exporters in the world United States 2016 2020 2024 China 5.7 million cars exported Japan Mexico Germany South Korea Top car exporters in the world United States 2016 2020 2024 China 5.7 million cars exported Japan Mexico Germany South Korea Top car exporters in the world United States 2016 2020 2024 Source: Alix Partners Note: 2024 values are estimated. Domestic sales 20 Exports 0 2010 2015 2020 2024 Production capacity 40 million cars Car production capacity has risen faster than sales. Mr. Wen gave him essentially a blank check to make China the world’s leader in electric cars. Last year, most of the cars China sold abroad were traditional gasoline engine cars. China has more than 100 factories with a combined capacity to build close to 40 million internal combustion engine cars a year.

Persons: Alix, Donald J, Trump, Wen Jiabao, Wen, Carmakers Organizations: China, Japan Mexico Germany South, Alix Partners, European Union, China’s, Communist Party, Wan, Audi, America, UNITED STATES, BRAZIL, UBS, China Volkswagen, Volkswagen Locations: China, Japan Mexico Germany, Japan Mexico Germany South Korea, States, United States, Asia, Thailand, Philippines, Germany, Europe, Southeast Asia, Shanghai, Russia, Ukraine, Latin America, TURKEY, India, Brazil, Turkey, U.S

☆ China plans to restrict exports of a critical metal. But the market isn't that worried
▼ + stars: | 2024-11-29 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +5 min

Stringer | ReutersBEIJING — China will start limiting exports of critical metal tungsten this weekend, just as alternatives to Chinese suppliers of the metal are reopening. watch nowEcclestone pointed out that tungsten prices have not reacted much to China's announcement. While China restricts tungsten exports, the U.S. increased tariffs on Chinese tungsten by 25% in September. Demand for tungsten in and outside China is expected to rise, keeping tungsten prices elevated in the near term, said Emre Uzun, ferro-alloys and steel analyst at Fastmarkets. But starting late next year, he expects increased non-China supply to help stabilize raw tungsten prices.

Persons: Stringer, —, Christopher Ecclestone, Ecclestone, Trump, Cullen, Hendrix, Almonty, Lewis Black, Jeong Kwang, Gracelin Baskaran, Emre Uzun Organizations: Reuters, —, Ministry of Commerce, U.S . Defense Department, Hallgarten & Company, Peterson Institute for International Economics, Almonty Industries, CNBC, Almonty, Bank, Center for Strategic, International Studies, South, . Geological Survey Locations: Lianyungang, Jiangsu province, China, Reuters BEIJING, U.S, South Korea, Canada, Seoul, Gangwon, Portugal, Sangdong, Kazakhstan, Australia, Spain

☆ Analysis: Trump’s Ukraine envoy has a plan to end the war that Putin may revel in
▼ + stars: | 2024-11-29 | by ( Nick Paton Walsh | ) edition.cnn.com time to read: +7 min

CNN —In a single post, the president-elect told the world what the end of the Ukraine war might look like. Kellogg, Trump’s 80-year-old former national security advisor, has laid out his peace plan in some detail, writing for the America First policy institute in April. Kellogg says more weapons should have been given before the Russian invasion, and immediately afterwards, to enable Ukraine to win. But that’s when the plan – which CNN has reported that Trump’s soon-to-be national security adviser is considering - stops being to Ukraine’s liking. The plan notes the United States manufactures 14,000 155 artillery rounds a month, which Ukraine can use up in just 48 hours.

Persons: Keith Kellogg, ” Trump, Donald Trump, Kellogg, Biden, …, Putin, Trump’s, Hyacinth, Richard Haas, Charles Kupchan, ceasefires, Sergei Supinsky, “ Biden, ”, don’t, revel Organizations: CNN, Trump’s, America, NATO, Mechanized Brigade, Ukrainian Armed Forces, Reuters, Russia, United States, Getty, Trump Locations: Ukraine, Russia, United States, China, Taiwan, ”, Moscow, Russian, Kyiv, AFP, America

☆ Canada's Prime Minister argues Donald Trump's tariff plan will hurt Canadians and Americans
▼ + stars: | 2024-11-29 | by ( Jordan Pandy | ) www.businessinsider.com time to read: +3 min

AdvertisementTrump vowed to impose tariffs on Canada and Mexico on his first day in office. Canada's prime minister Justin Trudeau warned tariffs will harm both Canadian and American consumers and industries. Canadian Prime Minister Justin Trudeau responded to President-elect Donald Trump's Monday vow to impose tariffs on Canada and Mexico on day one in office. Trump plans to impose 25% tariffs on goods coming from the northern and southern neighbors of the US. Mexico's President Claudia Sheinbaum Pardo has already said that her country would impose tariffs on the US if Trump goes through with his plan.

Persons: Trump, Justin Trudeau, Trudeau, Donald Trump's, who's, Prince Edward Island, Trump's, Claudia Sheinbaum Pardo, Sheinbaum Organizations: Associated Press, Trump, Bloomberg, North American Free Trade, AP, Business Insider, Toronto Region Board of Trade Locations: Canada, Mexico, Prince Edward, United States, Palm Beach, Toronto

☆ How to 'tariff-hedge' your European portfolio, according to TS Lombard
▼ + stars: | 2024-11-29 | by ( Holly Ellyatt | ) www.cnbc.com time to read: +3 min

As Europe faces the prospect of tariffs on its exports to the United States, TS Lombard has advised investors in the region on how to "tariff-hedge" their portfolios. This week he announced that Mexico, Canada and China would be the first countries in the firing line. In a note this week, Davide Oneglia, director of European and global macro at TS Lombard, advised European investors to address their "tariff risk" by looking at their exposure "in the way Donald Trump ... does, i.e. Selective approach Secondly, the economist noted that while it makes sense in the near term to stay underweight European stocks in aggregate relative to U.S. stocks, investors appear "too dismissive" of opportunities in EU markets. It's also likely that Trump will be open to negotiating with EU countries – and, potentially, with EU businesses, T.S.

Persons: Lombard, Donald Trump, Trump, Davide Oneglia, Oneglia, Lombard's Oneglia, It's Organizations: European Union, U.S, Lombard, Airbus, EU, Nasdaq, Trump Locations: Europe, United States, Mexico, Canada, China, Spain, Greece, Portugal, Italy, Germany, France, Ireland, Austria, Sweden, Denmark, Finland, U.S, T.S

The tariffs would be a significant escalation of Trump’s previous proposal, which was already a major increase on more targeted tariffs enacted during Trump’s first administration and kept in place by President Joe Biden. Canada is similarly considering its own options, including possible tariffs on U.S. goods, according to The Associated Press. America’s biggest import from Canada is oil — and any increase in energy prices would likely be felt throughout the economy. And in her statement reacting to Trump’s posts, Mexico’s Sheinbaum stated caravans of migrants were no longer reaching the border. And now he’s talking about tariffs to punish Mexico and Canada for not enforcing drugs and migrants across the border.

Persons: Donald Trump, Trump, Trump’s, Joe Biden, Claudia Sheinbaum, ” Ernie Tedeschi, Biden, Corie Barry, “, ” Barry, ”, Kayleigh McEnany, Dan Crenshaw, doesn’t, Steve Forbes, Mexico’s Sheinbaum, Douglas Irwin, mingles, you’re, ” Irwin Organizations: Yale, NBC News, Associated Press, America’s, Canada —, NBC, National Retail Federation, ”, Trump, ” Fox News, Fox News, Centers for Disease Control, U.S . Drug, Administration, U.S . Customs, Border Patrol, Dartmouth University Locations: Mexico, Canada, U.S, China, Texas

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