Items Tagged with 'China'

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  • Goldman Sachs: No deal in U.S.-China trade war before 2020 election

    "Fears that the trade war will trigger a recession are growing," Goldman economists say
    “Tariffs are a great negotiating tool,” President Donald Trump tweeted last month, one of dozens of times he has extolled the power of levies to get the trade deals he wants. Goldman Sachs issued a note to clients on Sunday saying that tariff strategy isn’t going to work with China, the world’s second-largest economy. “We no longer expect a trade deal before the 2020 election,” Goldman economists said.
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  • Foreign buyers flee the U.S. housing market, led by Chinese and British

    Top states for foreign purchases were Florida, California and Texas
    China’s currency controls, as well as international tensions between the U.S. and a slew of countries traditionally thought of as our allies, are putting a crimp on America’s real estate market by thwarting demand from foreign homebuyers. Purchases by Chinese people, the biggest share of foreign purchasers, plummeted 56% in the 12 months ended in March, while British home purchases tumbled 48%.
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  • Tariff wars: What do Walmart and Target prices have to do with the housing market?

    Bond investors who set mortgage rates keep a wary eye on inflation
    When a top executive at Walmart told Wall Street analysts last week that tariffs on Chinese goods would lead to higher prices for his customers, people who follow the housing and mortgage industry felt a sense of foreboding. Higher consumer prices lead to higher inflation, which leads to higher mortgage rates.
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  • Trump calls for Fed to reduce interest rates amid trade war with China

    Says lower interest rates would bolster economy
    President Donald Trump took to Twitter on Tuesday morning to air his thoughts on the trade war with China, where he hinted at monetary actions from the Federal Reserve. Trump explained that China would most likely manipulate its interest rates to keep its economy going during the trade war, but said that if the U.S. did the same, it would be "game over."
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  • NAHB chief economist: Tariff tweets could be signaling pricier U.S. homes

    Higher construction costs would be passed on to homebuyers
    President Donald Trump’s tweets escalating the U.S.-China trade war weren’t just a threat to the stock markets and the agricultural sector. Housing could be affected as well. "Additional tariffs on a country like China, where we get many of our construction products, are an additional tax on homes," Robert Dietz, chief economist at the National Association of Home Builders, said in an interview.
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  • Home builders group: New tariffs on Chinese goods are a tax on housing

    New tariffs are slated to affect materials related to housing construction
    New tariffs against China could add $1 billion in costs to goods involved with housing construction. According to CNBC’s Realty Check, the NAHB estimates that of the 6,000 goods under the umbrella of the latest round of tariffs, roughly 600 products, representing $10 billion in goods, are related to the construction of new apartments and homes.
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  • Here’s what Friday’s tariffs will do to U.S. economy

    Economist predicts destruction of 4% of world trade
    Trade tariffs between China and the U.S. are set for Friday, and economists are already predicting what the effect will be on the U.S. and global economy. A new report from Oxford Economics shows the growing trade war between the U.S., Europe, China and other countries could reduce world trade by 4%, and here’s what that could mean for the U.S.
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