Andrew Demillo Associated Press Published 10:59 p.m. UTC Aug 8, 2018 Arkadelphia, Ark. – A Chinese company’s announcement two years ago that it would spend more than $1 billion and hire hundreds of workers for a paper mill on the outskirts of this rural college town was seen as a much-needed shot in the arm for the region’s economy. A web video promoting Arkadelphia – “It’s a great place to call home!” – continues to tout the Sun Paper project and its potential to generate jobs and boost development. But optimism has been giving way to concern in recent months amid President Donald Trump’s escalating trade dispute with China. The threat of a full-blown trade war has delayed the project further and prompted the state’s governor to send his top economic development official to China to make sure it stays on track. It also has caused other Chinese companies considering investing in Arkansas to put their plans on hold. … [Read more...] about Trump’s trade battle with China hits home in Ark. town
Foreign direct investment in the united states 2016
BEIJING/WASHINGTON (Reuters) - U.S. tariffs on $34 billion in Chinese imports took effect as a deadline passed on Friday, and with Beijing having vowed to respond immediately in kind, the world’s two biggest economies took a high-stakes turn toward all-out trade conflict. U.S. President Donald Trump gestures during a Make America Great Again rally in Great Falls, Montana, U.S., July 5, 2018. REUTERS/Joshua Roberts China’s commerce ministry said in a statement shortly after the deadline passed that it was forced to retaliate, meaning $34 billion worth of imported U.S. goods including autos and agricultural products also faced 25 percent tariffs. “China promised to not fire the first shot, but to defend national core interests and the interests of the people it has no choice but to strike back as necessary,” the Commerce Ministry said in a statement. The ministry called the U.S. actions “a violation of world trade rules” and said that … [Read more...] about Shots fired as U.S.-China tariffs take effect in deepening trade row
Good morning! Welcome to The Morning Shift, your roundup of the auto news you crave, all in one place every weekday morning. Here are the stories that you need to know if you need to live. 1st Gear: Tariffs Bad The Toyota Camry is still the king of sedans, built in Georgetown, Kentucky. So you might think, at first blush, that it would be shielded from any potential tariffs on imported cars. You would be wrong, though, according to Toyota, which said yesterday that tariffs would lead to an $1,800 increase in the cost of new Camrys. How’s that, you ask? It’s about parts, since 45 percent of the Camry’s parts are imported, parts that would cost more if the Trump administration slapped tariffs on them. Here’s more from Bloomberg: “We are an exemplar of the manufacturing might of America,” the Japanese automaker said in an emailed statement, noting its 10 U.S. manufacturing plants. “A 25 percent tariff on automotive imports, which is just a … [Read more...] about The Toyota Camry Could Cost $1,800 More Because Of Tariffs
STOCKHOLM (Reuters) - Chinese auto investors are increasingly pouring money into Europe rather than the United States because of intense U.S. scrutiny of their deals under the Trump administration, according to industry sources and M&A data. More than a dozen leading M&A bankers, lawyers and consultants told Reuters the number of mandates from Chinese clients to make investments in the European auto sector were increasing, while those for the U.S. sector were declining. “Given the way that things are tightening up in the United States, Europe for China is the most obvious non-domestic market that they’re pushing into,” said Charlie Simpson, who specializes in the auto sector for consultancy KPMG’s global strategy group. The trend, which comes as Washington is locked in a trade battle with Beijing, is supported by an analysis of data of auto sector investment in the U.S. and European markets. The United States accounted for 26 percent of the total … [Read more...] about Trade tensions drive Chinese auto investors from U.S. to Europe
Self-driving cars. Internet-connected homes. Smart cities.Innovations like these are expected to reshape the technology industry and society at large — but none will take off without stronger wireless infrastructure, known as 5G.The fifth-generation mobile network will vastly expand the speed and volume of data that can be shared wirelessly, bringing the world closer to the autonomous age and generating enormous wealth and power for the companies that supply the equipment.That’s what made the Trump administration and other federal agencies so skittish about a hostile takeover of Qualcomm by Singapore-based Broadcom — leading to the White House’s unprecedented move Monday to block the proposed $117-billion deal because of national security concerns.Broadcom officialy withdrew its bid for Qualcomm on Wednesday.Qualcomm, the Trump administration argues, is needed to boost America’s lead in 5G research and development. Should the San Diego chipmaker fall … [Read more...] about What is 5G and why did Trump nix a huge tech deal to boost America’s lead in its development?