Author Topic: BMW Builds X5 in Thailand to Counteract U.S. China Tariffs: CEO  (Read 533 times)

Offline dawn

  • Korat forum reporter
  • ****
  • Posts: 487
you know what will happen now ... rolling rolling rolling ... waiting for the screams ... 40 percent thats a lot

BMW Builds X5 in Thailand to Counteract U.S. China Tariffs: CEO By Reuters

BMW's said it is producing between 10,000 and 20,000 X5 sports utility vehicles in Thailand as a way to supply Chinese customers now that imported vehicles from the United States face a 40 percent tariff.

In spring 2016, BMW started building the X5 in Thailand and this plant is now capable of making a "significant portion" of the vehicles that would otherwise have been exported from its plant in Spartanburg, South Carolina to China.

"This is one action to counteract," Chief Executive Harald Krueger told analysts in a call to discuss the company's second-quarter results.

(Reporting by Edward Taylor)

https://www.nytimes.com/reuters/2018/08/02/business/02reuters-bmw-results-q2-exports.html
the earliest light of day

Offline thaiga

  • Korat forum specialist
  • *****
  • Posts: 16097
Re: retaliatory tariffs in the trade war
« Reply #1 on: August 05, 2018, 11:20:02 AM »
China tariffs on LNG, oil aim at U.S. energy dominance agenda

China's proposed tariffs on U.S. liquefied natural gas and crude oil exports opens a new front in the trade war between the two countries, at a time when the White House is trumpeting growing U.S. energy export prowess.

Reuters
Anyone who goes to a psychiatrist should have his head examined.

Offline thaiga

  • Korat forum specialist
  • *****
  • Posts: 16097
Re: Asian countries denounce 'real threat' of global trade war
« Reply #2 on: August 07, 2018, 01:29:07 PM »
Asian countries denounce 'real threat' of global trade war

Asian countries have voiced concern about the potentially devastating impact of a US-China trade war, with ministers calling for the acceleration of talks for a gigantic Beijing-backed free-trade deal that excludes the United States.

Fear that a simmering trade spat between the world's top two economies could spiral into a full-blown trade war -- with painful consequences for China's neighbours -- was among topics dominating discussion at a regional summit in Singapore on Saturday.

Tit-for-tat tariffs have fuelled months of tensions that were notched up Friday as Beijing threatened to impose levies on US$60 billion of American goods, from beef to condoms.

The measures, which the White House ridiculed as "weak" but China said were "fully justified", came after Washington said it would increase the rate of additional tariffs on Chinese goods worth $200 billion.

The prospect of a trade war is a "real threat" to Asian countries, Malaysian Foreign Minister Saifuddin Abdullah told reporters Saturday on the sidelines of the summit.

"The threat is making many countries very concerned and... is becoming more complex," he said.

Other top Asian diplomats at Saturday's forum, hosted by the Association of Southeast Asian Nations (Asean), spoke out against protectionism, warning that it places the region's development in jeopardy.

"Rising anti-globalisation and trade protectionism among major countries is fuelling tensions and threatening our aspirations for sustained economic growth," said South Korean Foreign Minister Kang Kyung-wha.

Countries in the region must "explore creative ways to further deepen and broaden our cooperation", in the face of such challenges, she said.

Some ministers have called for the early conclusion of talks for the Regional Comprehensive Economic Partnership (RCEP), a 16-nation pact poised to become the world's largest free-trade agreement, covering about half the global population.

The planned RCEP deal would group the 10 members of the Association of Southeast Asian Nations (Asean) plus China, India, Japan, South Korea, Australia and New Zealand.

'Protectionism on the rise'

But it would not include the United States, which had been leading another regional trade pact -- the Trans-Pacific Partnership (TPP) -- until US President Donald Trump abruptly abandoned it last year.

Even with the lure to access to the world's largest economy withdrawn, the eleven remaining TPP countries, who make up 13.5% of the global economy, signed a slimmed-down version of the pact in March.

It cuts tariffs and requires members to comply with a high level of regulatory standards in areas like labour law and environmental protection.

RCEP also aims to cut tariffs but has far less regulatory standards attached than TPP.

Nonetheless, Washington's abandonment of TPP has given the RCEP negotiations a fresh shot in the arm.

"Given the current global situation where protectionism is on the rise, Japan would like to achieve a swift conclusion of our RCEP negotiations," Japanese Foreign Minister Taro Kono said.

Singapore's Prime Minister Lee Hsien Loong has said he hoped the RCEP pact would be complete by the end of the year, while Foreign Minister Vivian Balakrishnan urged countries facing "headwinds against free trade" to rally together.

The US imposed 25% tariffs on $34 billion of Chinese goods in early July, sparking retaliatory measures from China.

Days later, Washington unveiled a list of another $200 billion in Chinese goods from electrical machinery to seafood that would be hit with 10 percent import duties.

Trump upped the ante this week by threatening to lift the tariff rate to 25 percent.

US Secretary of State Mike Pompeo defended the US position and hit back at China.

"President Trump inherited an unfair trade regime where American workers and American companies were not treated reciprocally by the Chinese," he said Saturday.

"Efforts of the Trump administration are to right that, to correct it, to adjust that."

bangkokpost.com
Anyone who goes to a psychiatrist should have his head examined.

Offline thaiga

  • Korat forum specialist
  • *****
  • Posts: 16097
US President Donald Trump's claims of winning trade war are 'wishful thinking', China Daily says

Chinese state media kept up their criticism of US President Donald Trump’s trade policies, with a newspaper on Tuesday (Aug 7) describing as “wishful thinking” Trump’s belief that a fall in Chinese stocks was a sign of his winning the trade war.

As the world’s two biggest economies remained locked in a heated tariff dispute, Beijing and Washington have kept up a blistering rhetoric with threats and counter-threats of more punitive trade measures.

The editorial in the official China Daily underscored an increasingly aggressive stance adopted by Chinese state media against Trump, a shift from their previous approach of tempering any direct criticism against the US president.

On Monday, the overseas edition of the Communist Party’s People’s Daily newspaper singled out Trump, saying he was starring in his own “street fighter-style deceitful drama of extortion and intimidation”.

China proposed retaliatory tariffs on US$60 billion (S$82 billion) worth of US goods ranging from liquefied natural gas (LNG) to some aircraft on Friday, following a proposal by the administration of US President Donald Trump for a higher 25 per cent tariff on US$200 billion worth of Chinese imports.

The China Daily referred to a Saturday Tweet by Trump which said “Tariffs are working far better than anyone anticipated. China market has dropped 27 percent in last four months.”

China’s stock market was performing poorly before the US administration imposed tariffs, said the English-language newspaper, asserting that the downturn was partly due to Beijing’s attempts to cut corporate debt.

The paper said Trump’s claim that “tariffs are working big time” was undermined by data showing the US trade deficit climbed US$3 billion to US$46.3 billion in June, the first increase in four months.

The China Daily is often used by the government to communicate its message to an international audience.

(REUTERS) straitstimes.com
Anyone who goes to a psychiatrist should have his head examined.

 



Thailand