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Honda to Shift Most Mexico, Canada Car Production to US - Nikkei

1 week ago | asiafinancial.com | Jim Pollard

Honda is looking to shift the bulk of its car production in Mexico and Canada to the US, a new report says. The group wants 90% of cars sold in the United States to be made locally – to avoid new US auto tariffs, Nikkei newspaper reported on Tuesday. Japan’s second-biggest automaker by sales plans to increase US vehicle production by as much as 30% over two to three years in response to US President Donald Trump’s decision to put a 25% levy on imported vehicles, Nikkei said.
Trump Tariffs Could Hit US-Made Drugs in China, Data Shows

1 week ago | asiafinancial.com | Jim Pollard

The US-China trade war has cast a shadow over medicines that American drug companies make in China. A review by Reuters of Chinese regulator data showed that popular drugs used to fight cancer and diabetes could become more expensive because of tariffs imposed by US President Donald Trump. China announced on Friday that it would raise its levies on imports of US goods to 125%, hitting back at US President Donald Trump’s decision to single out the world’s second-largest economy for higher duties.
China Calls For US to Scrap Its Tariffs as Xi Starts SE Asia Tour

1 week ago | asiafinancial.com | Jim Pollard

China has called on the United States to “correct its mistakes” – scrap its tariff hikes and return to a “path of mutual respect.” The call on Sunday by the Commerce ministry in Beijing follows US President Donald Trump’s reciprocal tariffs imposed early this month that were paused for 90 days last week for most countries – but not China “We urge the US to … take a big step to correct its mistakes, completely cancel the wrong practice of ‘reciprocal tariffs’ and return to the right path of...
Tariffs on Imported Chips to be Announced Soon, Trump Says

1 week ago | asiafinancial.com | Jim Pollard

US President Donald Trump has warned that he will soon announce a tariff on computer chips imported from companies overseas. But he said there would be flexibility for some companies in the sector. His comments on Sunday mean that the exclusion of smartphones and computers from his reciprocal tariffs on China may be short-lived.
China Stock Exchanges 'Limiting Daily Sales Amid Trade War'

1 week ago | asiafinancial.com | Jim Pollard

Stock exchanges in China have been restricting share sales by hedge funds and large investors as its trade war with the US intensifies, according to a new report. Four sources who spoke to Reuters said Chinese bourses have set daily limits on net share sales by hedge funds and large retail investors, four sources said on Friday, as Beijing steps up support for its stock markets during this period of intense turbulence.
Markets Unnerved by Trump's Tariffs Turmoil, Recession Fear

1 week ago | asiafinancial.com | Jim Pollard

Asian markets were mixed again on Friday, with the Nikkei in Tokyo and the ASX in Sydney also down, while the Hang Seng and Shanghai edged up on the back of state support. But the turbulence spurred by US President Donald Trump’s imposition of tariffs has clearly rattled investors and there was little sign of easing on Friday, while foreign leaders try to work out how to respond to the dramatic impact on the global trading system.
Apple Stock Soars as iPhones Airlifted From India 'to Beat Tariffs'

2 weeks ago | asiafinancial.com | Jim Pollard

US tech giant Apple – seen by many analysts as a potential loser in the escalating US-China trade war – bounced back into life this week with a 15% stock rebound on Wednesday. There was also news that the US conglomerate had chartered cargo flights to ferry 600 tons of iPhones – as many as 1.5 million – to the United States from India. That shipment came from a ramped-up production effort that aimed to beat the deadline for President Donald Trump’s tariffs, sources told Reuters.
Relief in Asia as Trump Pauses Hefty Tariffs, But China Levy Hiked

2 weeks ago | asiafinancial.com | Jim Pollard

Asian markets bounced back on Thursday after US President Donald Trump announced a three-month pause on the large tariffs he imposed on dozens of countries last week, while ramping up pressure on China. The sudden turnaround, a day after hefty tariffs started on most trading partners, followed intense financial market volatility, which spurred panic and upheaval in the US government’s bonds market and wiped vast sums off stock markets around the world.
China Curbs Hollywood Films, But Says It's Open to Talks

2 weeks ago | asiafinancial.com | Jim Pollard

China said on Thursday it will curb imports of movies made in Hollywood in retaliation for the Trump Administration’s imposition of far higher tariffs on Chinese exports sent to the US. The move came after Trump hiked tariffs for the second day running, for its tit-for-tat response to US levies, which now amount to 124% on all Chinese goods.
China Hits Back With 84% Levy, After Trump Doubled US Tariffs

2 weeks ago | asiafinancial.com | Jim Pollard

The intensity of the US-China trade dispute cranked up further on Wednesday when Beijing said it would raise its tariff on US imports to 84%. The move turns up the heat in the two biggest economies’ escalating trade war. China’s 50% hike came after the US imposed a similar additional tariff on Chinese goods that brought total levies to 104%. China’s response is due to start on Thursday, according to media reports on the Finance Ministry announcement.