European debt now a better bet than US Treasuries
WASHINGTON — Janet Yellen can’t be happy as bond guru Bill Gross shines a bright spotlight on a fast-emerging risk to US Treasury securities: the November election.
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WASHINGTON — Janet Yellen can’t be happy as bond guru Bill Gross shines a bright spotlight on a fast-emerging risk to US Treasury securities: the November election.
TOKYO — It’s hard to miss the time-warp dynamic surrounding the US-China trade war as it intensifies in real-time.
The recent escalation in US-China trade tensions, marked by the imposition of significant tariffs on Chinese electric vehicles (EVs) and a subsequent Chinese anti-dumping probe, signals the potential onset of a renewed trade war between the world’s two largest economies.
Joe Biden is about to slap 100% tariffs on Chinese-made electric vehicles. A 100% tariff is an absolutely huge tariff. It means that Chinese EV makers would have to sell their EVs in the US at half the price of EVs manufactured elsewhere in order to be competitive. That just isn’t going to happen.
Granted, Tesla’s share price has bounced on short covering and the return of perennial optimism after dropping by more than 40% since the beginning of the year.
US Treasury Secretary Janet Yellen on April 8 warned China that rising investment in new industries will lead to “significant risk to workers and businesses in the United States and the rest of the world,” adding that China “is now simply too large for the rest of the world to absorb this overcapacity.” Secretary Yellen said:
Don’t tell Donald Trump, but his pledge to impose 60% tariffs on Chinese goods may help accelerate Xi Jinping’s efforts to move Asia’s biggest economy upmarket in ways Washington never saw coming.