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Wednesday, 11 April 18
US-CHINA TARIFF THREATS RAISE GLOBAL TRADE RISKS - FITCH
 Escalating tariff proposals by the U.S. and Chinese governments are increasing the risks of a full-blown trade war, says Fitch Ratings. The most likely outcome remains a negotiated solution to U.S.-China trade tensions that has limited effect on the near-term growth outlook in both countries and leaves Fitch’s base case global macroeconomic forecasts intact. However, the risk of a more material impact is growing.
Tariff proposals by the U.S. and Chinese governments last week marked an escalation in protectionist rhetoric between the world’s two largest economies. China proposed levying retaliatory tariffs against $50 billion in U.S. products and U.S. President Donald Trump stated that he was considering additional tariffs on a further $100 billion in Chinese goods to the $50 billion he had initially proposed on March 22.
China is reported to have signaled that it would respond further to such action. Whether this would come in the form of retaliatory tariffs non-tariff protectionist measures or a combination remains to be seen. The U.S. exported $187 billion in goods and services to China in 2017, according to the U.S. Bureau of Economic Analysis. By means of illustration, $150 billion in exports is equivalent to 0.8% of U.S. GDP and 1.3% of China’s GDP. The direct impact of tariffs of 25% on trade flows of this size would be 0.2% of U.S. GDP and 0.3% of China’s.
The potential for trade protectionism to negatively affect the U.S. and China’s growth outlook is rising with every incremental escalation in tariff rhetoric, which could lead to a full-blown trade war. Fitch outlined the potential risks of a global trade war instigated by hypothetical across-the-board U.S. tariffs imposed against key trading partners in a scenario report published last year.
We maintain that this would be an extreme scenario, but the implications of such a wide-ranging tariff war would be significant. Both the U.S. and China would see GDP reduced by over two percentage points from the base line after two years with China being more affected. Other major economies including the Eurozone, Japan and the UK would see lesser negative effects but still see growth deceleration.
Market reaction to rising uncertainty could pose macroeconomic risks even before the tariffs’ actual implementation. A significant Chinese yuan depreciation, for example, would likely cause a shock to global markets and potentially affect investment and global trade flows.
For now, the specific proposals of $50 billion of tariffs from both countries are targeted as opposed to across-the-board and small relative to the overall size of their respective economies. Should they be implemented as proposed, we believe that the direct macroeconomic effects on trade, growth and confidence, both globally and for the U.S. and China, would be limited. We continue to forecast for U.S. GDP growth to accelerate this year to 2.7%, with the short-term economic outlook improving alongside loose fiscal policy, wage growth and improved investment. Individual sectors could be affected by the implementation of targeted tariffs though, even if the overall macroeconomic outlook is broadly unchanged.
Importantly, no U.S.-China tariffs have been implemented yet. The U.S.’ initially proposed $50 billion in tariffs are subject to a consultation process so the earliest tariffs are likely to come into effect are the end of May or early June. As such, the tariff proposals may well be part of diplomatic positioning for negotiations and may never come into effect should a mutually agreeable deal be reached that addresses U.S. concerns over the bilateral economic relationship.
Source: Fitch Ratings
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Monday, 07 May 18
BENCHMARK PRICE OF INDONESIAN THERMAL COAL DROPPED BACK BELOW $90 A TON THIS MONTH
COALspot.com: According to latest ministerial decree No. 1812 K/30/MEM/2018 dated 3 May 2018, the Indonesian Coal Price Reference (HBA) decline 5.5 ...
Monday, 07 May 18
SOUTH KOREA STATE-OWNED UTILITY KOREA MIDLAND POWER ISSUED A TENDER FOR 1 MILLION TONS OF BITUMINOUS COAL
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a tender for 520,000 mt of min. 5700 NAR coal of Australian origi ...
Monday, 07 May 18
GLOBAL COAL DEMAND ROSE ABOUT 1% IN 2017; ASIA ACCOUNTED FOR THE LARGEST INCREASE IN COAL DEMAND, UP 35 MTOE RELATIVE TO 2016 - IEA
Global coal demand rose about 1% in 2017, reversing the declining trend seen over the last two years. This growth was mainly due to demand in Asia, ...
Friday, 04 May 18
ELECTRICITY GENERATION FROM RENEWABLES WAS SECOND ONLY TO COAL IN 2017 - IEA
World electricity demand increased by 3.1 %, significantly higher than the overall increase in energy demand. Together, China and India accounted f ...
Thursday, 03 May 18
SUPRAMAX: INDO - CHINA COAL ROUNDS ARE PAYING IN THE LOW-MID $12000 BSS SINGAPORE DELIVERY - FEARNLEYS
Supramax
As expected a slow and uneventful start to the week with holidays in many countries, however by mid-week some fresh requirements and pos ...
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Showing 1726 to 1730 news of total 6871 |
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- Directorate Of Revenue Intelligence - India
- MS Steel International - UAE
- Siam City Cement - Thailand
- Cement Manufacturers Association - India
- Meralco Power Generation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Larsen & Toubro Limited - India
- Sical Logistics Limited - India
- Economic Council, Georgia
- Barasentosa Lestari - Indonesia
- Sindya Power Generating Company Private Ltd
- Altura Mining Limited, Indonesia
- IEA Clean Coal Centre - UK
- Pendopo Energi Batubara - Indonesia
- Australian Commodity Traders Exchange
- GVK Power & Infra Limited - India
- Indonesian Coal Mining Association
- Carbofer General Trading SA - India
- Marubeni Corporation - India
- Semirara Mining Corp, Philippines
- Goldman Sachs - Singapore
- ICICI Bank Limited - India
- Grasim Industreis Ltd - India
- Thiess Contractors Indonesia
- Metalloyd Limited - United Kingdom
- Karaikal Port Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Simpson Spence & Young - Indonesia
- Bhushan Steel Limited - India
- SN Aboitiz Power Inc, Philippines
- Samtan Co., Ltd - South Korea
- Central Java Power - Indonesia
- Eastern Coal Council - USA
- Kepco SPC Power Corporation, Philippines
- Malabar Cements Ltd - India
- Aboitiz Power Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Billiton Holdings Pty Ltd - Australia
- Eastern Energy - Thailand
- Power Finance Corporation Ltd., India
- Kideco Jaya Agung - Indonesia
- Tata Chemicals Ltd - India
- European Bulk Services B.V. - Netherlands
- Bayan Resources Tbk. - Indonesia
- Singapore Mercantile Exchange
- Rashtriya Ispat Nigam Limited - India
- Siam City Cement PLC, Thailand
- Sarangani Energy Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Global Business Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Heidelberg Cement - Germany
- Sinarmas Energy and Mining - Indonesia
- Mercuria Energy - Indonesia
- London Commodity Brokers - England
- India Bulls Power Limited - India
- Intertek Mineral Services - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Attock Cement Pakistan Limited
- Indika Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Formosa Plastics Group - Taiwan
- Agrawal Coal Company - India
- Parry Sugars Refinery, India
- Bangladesh Power Developement Board
- Bukit Baiduri Energy - Indonesia
- Rio Tinto Coal - Australia
- IHS Mccloskey Coal Group - USA
- Thai Mozambique Logistica
- Bukit Asam (Persero) Tbk - Indonesia
- Central Electricity Authority - India
- New Zealand Coal & Carbon
- Vedanta Resources Plc - India
- Wood Mackenzie - Singapore
- Africa Commodities Group - South Africa
- Bhatia International Limited - India
- Planning Commission, India
- The Treasury - Australian Government
- Directorate General of MIneral and Coal - Indonesia
- PNOC Exploration Corporation - Philippines
- The State Trading Corporation of India Ltd
- Lanco Infratech Ltd - India
- SMC Global Power, Philippines
- Chettinad Cement Corporation Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Jorong Barutama Greston.PT - Indonesia
- Medco Energi Mining Internasional
- Indian Energy Exchange, India
- Videocon Industries ltd - India
- OPG Power Generation Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- International Coal Ventures Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Xindia Steels Limited - India
- Bukit Makmur.PT - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Posco Energy - South Korea
- Port Waratah Coal Services - Australia
- Deloitte Consulting - India
- Orica Mining Services - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- McConnell Dowell - Australia
- Kalimantan Lumbung Energi - Indonesia
- Edison Trading Spa - Italy
- Aditya Birla Group - India
- Georgia Ports Authority, United States
- Ministry of Finance - Indonesia
- Mercator Lines Limited - India
- Energy Development Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Indian Oil Corporation Limited
- GN Power Mariveles Coal Plant, Philippines
- Holcim Trading Pte Ltd - Singapore
- Kumho Petrochemical, South Korea
- Coalindo Energy - Indonesia
- Ambuja Cements Ltd - India
- Essar Steel Hazira Ltd - India
- Parliament of New Zealand
- Salva Resources Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Renaissance Capital - South Africa
- Wilmar Investment Holdings
- The University of Queensland
- Indogreen Group - Indonesia
- Sree Jayajothi Cements Limited - India
- Standard Chartered Bank - UAE
- Mjunction Services Limited - India
- Electricity Authority, New Zealand
- Interocean Group of Companies - India
- Makarim & Taira - Indonesia
- Vizag Seaport Private Limited - India
- Mintek Dendrill Indonesia
- Riau Bara Harum - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Australian Coal Association
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Tamil Nadu electricity Board
- Bulk Trading Sa - Switzerland
- SMG Consultants - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Sakthi Sugars Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Commonwealth Bank - Australia
- White Energy Company Limited
- Bhoruka Overseas - Indonesia
- PTC India Limited - India
- Jaiprakash Power Ventures ltd
- Petrochimia International Co. Ltd.- Taiwan
- Petron Corporation, Philippines
- Sojitz Corporation - Japan
- Anglo American - United Kingdom
- Orica Australia Pty. Ltd.
- Global Green Power PLC Corporation, Philippines
- ASAPP Information Group - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Mines - Canada
- Bharathi Cement Corporation - India
- Star Paper Mills Limited - India
- Independent Power Producers Association of India
- Minerals Council of Australia
- AsiaOL BioFuels Corp., Philippines
- Iligan Light & Power Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Binh Thuan Hamico - Vietnam
- Bank of Tokyo Mitsubishi UFJ Ltd
- San Jose City I Power Corp, Philippines
- Therma Luzon, Inc, Philippines
- PowerSource Philippines DevCo
- Oldendorff Carriers - Singapore
- Toyota Tsusho Corporation, Japan
- Uttam Galva Steels Limited - India
- South Luzon Thermal Energy Corporation
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Transport, Egypt
- CIMB Investment Bank - Malaysia
- Asmin Koalindo Tuhup - Indonesia
- Jindal Steel & Power Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Chamber of Mines of South Africa
- Savvy Resources Ltd - HongKong
- Leighton Contractors Pty Ltd - Australia
- Kartika Selabumi Mining - Indonesia
- Manunggal Multi Energi - Indonesia
- Ind-Barath Power Infra Limited - India
- Electricity Generating Authority of Thailand
- GMR Energy Limited - India
- Ceylon Electricity Board - Sri Lanka
- Baramulti Group, Indonesia
- Borneo Indobara - Indonesia
- Maheswari Brothers Coal Limited - India
- Romanian Commodities Exchange
- Coal and Oil Company - UAE
- Trasteel International SA, Italy
- Madhucon Powers Ltd - India
- Kobexindo Tractors - Indoneisa
- TeaM Sual Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Energy Link Ltd, New Zealand
- CNBM International Corporation - China
- Meenaskhi Energy Private Limited - India
- Gujarat Sidhee Cement - India
- Miang Besar Coal Terminal - Indonesia
- Dalmia Cement Bharat India
- VISA Power Limited - India
- Merrill Lynch Commodities Europe
- Kaltim Prima Coal - Indonesia
- Latin American Coal - Colombia
- Kohat Cement Company Ltd. - Pakistan
- Straits Asia Resources Limited - Singapore
- Global Coal Blending Company Limited - Australia
- LBH Netherlands Bv - Netherlands
- GAC Shipping (India) Pvt Ltd
- Antam Resourcindo - Indonesia
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