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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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Thursday, 15 March 18
BHEL COMMISSIONS 600 MW THERMAL POWER PLANT FOR APGENCO IN ANDHRA PRADESH
Bharat Heavy Electricals Limited (BHEL) has successfully commissioned a 600 MW coal-based thermal power plant in the state of Andhra Pradesh.
...
Thursday, 15 March 18
SUEK GROUP SECURES $1.055BN 5-YEAR SYNDICATED PRE-EXPORT FINANCE FACILITY
SUEK Group signed a $1.055bn syndicated pre-export loan agreement. The facility with five years duration is secured against the Group’s expor ...
Wednesday, 14 March 18
COAL PRICES UP SAYS MINERALS COUNCIL - IAN KIRKWOOD,THE HERALD
NSW thermal coal exports were at near-record levels last year but prices were up, the Minerals Council of NSW has said after appraising annual stat ...
Wednesday, 14 March 18
NEW COAL PRICE FORMULA DOESN'T APPLY RETROACTIVELY: OFFICIAL - THE JAKARTA GLOBE
The Energy and Mineral Resources Ministry has decided to change the implementation period of the new discounted price formula for coal sold to the ...
Wednesday, 14 March 18
SHIPPING MARKET INSIGHT - VASILIS MOIRIS
Interest in second hand tonnage remains firm with buyers in the dry bulk sector looking to benefit from rising freight rates that are eventually ex ...
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Showing 1771 to 1775 news of total 6871 |
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- Indogreen Group - Indonesia
- Minerals Council of Australia
- Asmin Koalindo Tuhup - Indonesia
- Sindya Power Generating Company Private Ltd
- Indo Tambangraya Megah - Indonesia
- GAC Shipping (India) Pvt Ltd
- Goldman Sachs - Singapore
- Siam City Cement - Thailand
- Central Electricity Authority - India
- SMC Global Power, Philippines
- Sojitz Corporation - Japan
- San Jose City I Power Corp, Philippines
- Orica Australia Pty. Ltd.
- Riau Bara Harum - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Mines - Canada
- Meenaskhi Energy Private Limited - India
- Straits Asia Resources Limited - Singapore
- Coal and Oil Company - UAE
- Bhoruka Overseas - Indonesia
- Energy Link Ltd, New Zealand
- Toyota Tsusho Corporation, Japan
- International Coal Ventures Pvt Ltd - India
- MS Steel International - UAE
- Ministry of Transport, Egypt
- Baramulti Group, Indonesia
- Agrawal Coal Company - India
- Lanco Infratech Ltd - India
- Heidelberg Cement - Germany
- Antam Resourcindo - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Indonesian Coal Mining Association
- CIMB Investment Bank - Malaysia
- Australian Commodity Traders Exchange
- Simpson Spence & Young - Indonesia
- Bulk Trading Sa - Switzerland
- Mintek Dendrill Indonesia
- Mercuria Energy - Indonesia
- Coalindo Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- GVK Power & Infra Limited - India
- Siam City Cement PLC, Thailand
- Karbindo Abesyapradhi - Indoneisa
- PNOC Exploration Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Therma Luzon, Inc, Philippines
- Samtan Co., Ltd - South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Electricity Regulatory Commission - India
- Oldendorff Carriers - Singapore
- Electricity Generating Authority of Thailand
- Dalmia Cement Bharat India
- Directorate Of Revenue Intelligence - India
- Kepco SPC Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Banpu Public Company Limited - Thailand
- LBH Netherlands Bv - Netherlands
- Indian Energy Exchange, India
- GN Power Mariveles Coal Plant, Philippines
- Energy Development Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Chamber of Mines of South Africa
- Savvy Resources Ltd - HongKong
- Grasim Industreis Ltd - India
- Central Java Power - Indonesia
- Xindia Steels Limited - India
- SMG Consultants - Indonesia
- VISA Power Limited - India
- Manunggal Multi Energi - Indonesia
- Borneo Indobara - Indonesia
- Barasentosa Lestari - Indonesia
- White Energy Company Limited
- Ministry of Finance - Indonesia
- Salva Resources Pvt Ltd - India
- Makarim & Taira - Indonesia
- Semirara Mining and Power Corporation, Philippines
- ASAPP Information Group - India
- Bahari Cakrawala Sebuku - Indonesia
- PTC India Limited - India
- Standard Chartered Bank - UAE
- Gujarat Sidhee Cement - India
- Pipit Mutiara Jaya. PT, Indonesia
- Malabar Cements Ltd - India
- Interocean Group of Companies - India
- Ind-Barath Power Infra Limited - India
- Sinarmas Energy and Mining - Indonesia
- Bhushan Steel Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Iligan Light & Power Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Essar Steel Hazira Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- IEA Clean Coal Centre - UK
- The University of Queensland
- Kobexindo Tractors - Indoneisa
- Merrill Lynch Commodities Europe
- Marubeni Corporation - India
- Mercator Lines Limited - India
- Vedanta Resources Plc - India
- India Bulls Power Limited - India
- Aditya Birla Group - India
- Cement Manufacturers Association - India
- Edison Trading Spa - Italy
- The State Trading Corporation of India Ltd
- Chettinad Cement Corporation Ltd - India
- SN Aboitiz Power Inc, Philippines
- Metalloyd Limited - United Kingdom
- Global Coal Blending Company Limited - Australia
- Krishnapatnam Port Company Ltd. - India
- Directorate General of MIneral and Coal - Indonesia
- Bharathi Cement Corporation - India
- Trasteel International SA, Italy
- Orica Mining Services - Indonesia
- Georgia Ports Authority, United States
- Parry Sugars Refinery, India
- Larsen & Toubro Limited - India
- AsiaOL BioFuels Corp., Philippines
- Videocon Industries ltd - India
- Kaltim Prima Coal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Pendopo Energi Batubara - Indonesia
- South Luzon Thermal Energy Corporation
- Alfred C Toepfer International GmbH - Germany
- Petron Corporation, Philippines
- Bangladesh Power Developement Board
- Singapore Mercantile Exchange
- Sarangani Energy Corporation, Philippines
- Latin American Coal - Colombia
- Tamil Nadu electricity Board
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Altura Mining Limited, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Thai Mozambique Logistica
- CNBM International Corporation - China
- Star Paper Mills Limited - India
- Uttam Galva Steels Limited - India
- Kumho Petrochemical, South Korea
- Karaikal Port Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Planning Commission, India
- Mjunction Services Limited - India
- Kapuas Tunggal Persada - Indonesia
- Port Waratah Coal Services - Australia
- Wilmar Investment Holdings
- Price Waterhouse Coopers - Russia
- Neyveli Lignite Corporation Ltd, - India
- Commonwealth Bank - Australia
- Bukit Baiduri Energy - Indonesia
- Jindal Steel & Power Ltd - India
- GMR Energy Limited - India
- Holcim Trading Pte Ltd - Singapore
- Eastern Coal Council - USA
- McConnell Dowell - Australia
- Sakthi Sugars Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Kideco Jaya Agung - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Kohat Cement Company Ltd. - Pakistan
- Rio Tinto Coal - Australia
- Bhatia International Limited - India
- New Zealand Coal & Carbon
- Leighton Contractors Pty Ltd - Australia
- Bukit Makmur.PT - Indonesia
- Medco Energi Mining Internasional
- PowerSource Philippines DevCo
- Tata Chemicals Ltd - India
- Power Finance Corporation Ltd., India
- Deloitte Consulting - India
- Maheswari Brothers Coal Limited - India
- Bayan Resources Tbk. - Indonesia
- Madhucon Powers Ltd - India
- Economic Council, Georgia
- Parliament of New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Formosa Plastics Group - Taiwan
- Meralco Power Generation, Philippines
- Global Business Power Corporation, Philippines
- ICICI Bank Limited - India
- Electricity Authority, New Zealand
- IHS Mccloskey Coal Group - USA
- Thiess Contractors Indonesia
- Sree Jayajothi Cements Limited - India
- European Bulk Services B.V. - Netherlands
- Indian Oil Corporation Limited
- Vijayanagar Sugar Pvt Ltd - India
- Wood Mackenzie - Singapore
- Attock Cement Pakistan Limited
- Sical Logistics Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jorong Barutama Greston.PT - Indonesia
- Indika Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Carbofer General Trading SA - India
- Miang Besar Coal Terminal - Indonesia
- Renaissance Capital - South Africa
- Posco Energy - South Korea
- Anglo American - United Kingdom
- The Treasury - Australian Government
- Australian Coal Association
- TeaM Sual Corporation - Philippines
- Vizag Seaport Private Limited - India
- Eastern Energy - Thailand
- Africa Commodities Group - South Africa
- Intertek Mineral Services - Indonesia
- Semirara Mining Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- London Commodity Brokers - England
- Globalindo Alam Lestari - Indonesia
- OPG Power Generation Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Romanian Commodities Exchange
- Independent Power Producers Association of India
- Ambuja Cements Ltd - India
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