China’s Finance Ministry on Sept. 11 announced the first round of exemptions of U.S. goods from Chinese retaliatory tariffs. The exemptions will be effective from Sept. 17 to Sept. 16, 2020. Specifically, the exclusions will cover two lists — one comprising 12 items and another comprising four items.
Job growth falls short of expectations as August payrolls rise just 130,000
Job growth continued at a tepid pace in August, with nonfarm payrolls increasing by just 130,000 thanks in large part to the temporary hiring of Census workers, the Labor Department reported Friday. The increase fell short of Wall Street estimates for 150,000, while the unemployment rate stayed at 3.7%, as expected.
Most Businesses Optimistic, Consumer Spending ‘Mixed’
The U.S. economy grew at a modest pace through much of July and August, with companies remaining upbeat despite disruption caused by international trade disputes, a Federal Reserve survey found.
China Says Trade Talks With US to Be Held in October
China’s Commerce Ministry says talks with the United States on ending their tariff war will take place in early October in Washington, later than previously planned.
US manufacturing contracts for the first time in three years amid China trade war
A gauge of U.S. manufacturing from the Institute for Supply Management showed the sector contracted in August, its first decline since 2016. The ISM U.S. manufacturing Purchasing Managers’ Index fell to 49.1% in August, the lowest reading in more than three years. Any reading below 50% signals a contraction.
US weekly jobless claims fall more than expected
The number of Americans filing applications for unemployment benefits fell sharply last week, suggesting the labor market was holding firm despite a manufacturing slowdown and concerns the economy is on a path toward recession.
Consumer confidence fell less than forecast in August
U.S. consumer confidence declined in August by less than forecast as Americans’ assessment of current conditions climbed to the highest level in almost 19 years, helped by a job market that remains robust.
Markets Set to Recover Slightly as China Eases Tone on Trade War
Stock markets appeared poised to rebound Thursday as China softened its tone regarding the trade war with the U.S. a day after Wall Street suffered its worst session of the year.
US consumer sentiment for August comes in well below estimates
U.S. consumer sentiment fell to 92.1 in August, the lowest indicator readout since the start of 2019, according to data released Friday. The dip points to further uncertainty in the U.S. economy, as consumers navigate wild market swings and a constantly shifting trade environment.
US tariffs on laptops and phones pushed out until December
The Trump administration has laid out plans to split the introduction of tariffs on $300 billion worth of Chinese imports that were previously flagged by the Unites States President earlier this month. The tariffs were set to be introduced on September 1, however, the United States Trade Representative (USTR) divided the introduction into two parts […]