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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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- Semirara Mining Corp, Philippines
- Cement Manufacturers Association - India
- Tata Chemicals Ltd - India
- SN Aboitiz Power Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Bhoruka Overseas - Indonesia
- ICICI Bank Limited - India
- Trasteel International SA, Italy
- Riau Bara Harum - Indonesia
- VISA Power Limited - India
- Sojitz Corporation - Japan
- Sree Jayajothi Cements Limited - India
- Electricity Authority, New Zealand
- Meralco Power Generation, Philippines
- Chettinad Cement Corporation Ltd - India
- Metalloyd Limited - United Kingdom
- Posco Energy - South Korea
- Larsen & Toubro Limited - India
- Karaikal Port Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Sakthi Sugars Limited - India
- Indo Tambangraya Megah - Indonesia
- Australian Commodity Traders Exchange
- Port Waratah Coal Services - Australia
- White Energy Company Limited
- Singapore Mercantile Exchange
- McConnell Dowell - Australia
- GMR Energy Limited - India
- India Bulls Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Wilmar Investment Holdings
- The University of Queensland
- Pipit Mutiara Jaya. PT, Indonesia
- PTC India Limited - India
- Georgia Ports Authority, United States
- Malabar Cements Ltd - India
- Coastal Gujarat Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Orica Mining Services - Indonesia
- Carbofer General Trading SA - India
- Formosa Plastics Group - Taiwan
- Bhushan Steel Limited - India
- Makarim & Taira - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- AsiaOL BioFuels Corp., Philippines
- MS Steel International - UAE
- Wood Mackenzie - Singapore
- Parliament of New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Commonwealth Bank - Australia
- Siam City Cement PLC, Thailand
- Maheswari Brothers Coal Limited - India
- PowerSource Philippines DevCo
- Banpu Public Company Limited - Thailand
- Agrawal Coal Company - India
- Grasim Industreis Ltd - India
- Indian Energy Exchange, India
- CIMB Investment Bank - Malaysia
- Australian Coal Association
- San Jose City I Power Corp, Philippines
- Savvy Resources Ltd - HongKong
- Bukit Asam (Persero) Tbk - Indonesia
- Bukit Baiduri Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Ambuja Cements Ltd - India
- Standard Chartered Bank - UAE
- Bhatia International Limited - India
- Romanian Commodities Exchange
- Ceylon Electricity Board - Sri Lanka
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Attock Cement Pakistan Limited
- Therma Luzon, Inc, Philippines
- Aditya Birla Group - India
- Essar Steel Hazira Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Medco Energi Mining Internasional
- Billiton Holdings Pty Ltd - Australia
- Indika Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Marubeni Corporation - India
- Mintek Dendrill Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Pendopo Energi Batubara - Indonesia
- Star Paper Mills Limited - India
- IEA Clean Coal Centre - UK
- Neyveli Lignite Corporation Ltd, - India
- New Zealand Coal & Carbon
- Indonesian Coal Mining Association
- Eastern Energy - Thailand
- Ind-Barath Power Infra Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Minerals Council of Australia
- Bangladesh Power Developement Board
- Merrill Lynch Commodities Europe
- Parry Sugars Refinery, India
- Global Coal Blending Company Limited - Australia
- Gujarat Electricity Regulatory Commission - India
- Sinarmas Energy and Mining - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Makmur.PT - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- GVK Power & Infra Limited - India
- Independent Power Producers Association of India
- Semirara Mining and Power Corporation, Philippines
- Latin American Coal - Colombia
- Alfred C Toepfer International GmbH - Germany
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Chamber of Mines of South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Thiess Contractors Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Green Power PLC Corporation, Philippines
- Interocean Group of Companies - India
- Gujarat Mineral Development Corp Ltd - India
- Planning Commission, India
- Rashtriya Ispat Nigam Limited - India
- Anglo American - United Kingdom
- CNBM International Corporation - China
- Sindya Power Generating Company Private Ltd
- Borneo Indobara - Indonesia
- Siam City Cement - Thailand
- Edison Trading Spa - Italy
- Xindia Steels Limited - India
- Mercator Lines Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kumho Petrochemical, South Korea
- Power Finance Corporation Ltd., India
- Directorate General of MIneral and Coal - Indonesia
- Goldman Sachs - Singapore
- Global Business Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Antam Resourcindo - Indonesia
- London Commodity Brokers - England
- Meenaskhi Energy Private Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Holcim Trading Pte Ltd - Singapore
- Baramulti Group, Indonesia
- Kartika Selabumi Mining - Indonesia
- Timah Investasi Mineral - Indoneisa
- Intertek Mineral Services - Indonesia
- Aboitiz Power Corporation - Philippines
- The State Trading Corporation of India Ltd
- Manunggal Multi Energi - Indonesia
- South Luzon Thermal Energy Corporation
- Vedanta Resources Plc - India
- Energy Development Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Africa Commodities Group - South Africa
- Economic Council, Georgia
- Electricity Generating Authority of Thailand
- Rio Tinto Coal - Australia
- OPG Power Generation Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Thai Mozambique Logistica
- Cigading International Bulk Terminal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Kideco Jaya Agung - Indonesia
- LBH Netherlands Bv - Netherlands
- Barasentosa Lestari - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Samtan Co., Ltd - South Korea
- GN Power Mariveles Coal Plant, Philippines
- Deloitte Consulting - India
- Sarangani Energy Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Central Electricity Authority - India
- Karbindo Abesyapradhi - Indoneisa
- Kaltim Prima Coal - Indonesia
- Videocon Industries ltd - India
- Kobexindo Tractors - Indoneisa
- Dalmia Cement Bharat India
- Iligan Light & Power Inc, Philippines
- Uttam Galva Steels Limited - India
- Gujarat Sidhee Cement - India
- Mjunction Services Limited - India
- Vizag Seaport Private Limited - India
- Mercuria Energy - Indonesia
- Renaissance Capital - South Africa
- Bharathi Cement Corporation - India
- Petron Corporation, Philippines
- Altura Mining Limited, Indonesia
- Eastern Coal Council - USA
- Coalindo Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Asmin Koalindo Tuhup - Indonesia
- Oldendorff Carriers - Singapore
- Indogreen Group - Indonesia
- GAC Shipping (India) Pvt Ltd
- Tamil Nadu electricity Board
- SMC Global Power, Philippines
- PNOC Exploration Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Orica Australia Pty. Ltd.
- Ministry of Finance - Indonesia
- Bayan Resources Tbk. - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Coal and Oil Company - UAE
- TeaM Sual Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Lanco Infratech Ltd - India
- Jindal Steel & Power Ltd - India
- ASAPP Information Group - India
- Ministry of Mines - Canada
- European Bulk Services B.V. - Netherlands
- Sical Logistics Limited - India
- Energy Link Ltd, New Zealand
- Directorate Of Revenue Intelligence - India
- Central Java Power - Indonesia
- Heidelberg Cement - Germany
- Indian Oil Corporation Limited
- The Treasury - Australian Government
- Simpson Spence & Young - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Madhucon Powers Ltd - India
- SMG Consultants - Indonesia
- Ministry of Transport, Egypt
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