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Trump said tariffs on Chinese goods will increase to 25% on Friday

President Trump said on Sunday the U.S. tariffs imposed on $200 billion of Chinese goods will increase to 25 percent on Friday, attributing the payments on those products to the “great economic results.”

The U.S. already imposes a 10 percent tariff on $200 billion of goods and a 25 percent tariff on $50 billion of tech products. Trump also threatened to slap an additional 25 percent tariff on $325 billion of goods.
White House officials have stressed that both sides are eager to wrap up talks; last week, Treasury Secretary Steven Mnuchin told FOX Business that although they still had “more work to do,” enforcement mechanisms were “close to done.”

“If we get to a completed agreement it will have real enforcement provisions,” he said at the time. Trump, however, warned that although talks were continuing, they were progressing too slowly as Beijing tries to renegotiate.

“The Tariffs paid to the USA have had little impact on product cost, mostly borne by China. The Trade Deal with China continues, but too slowly, as they attempt to renegotiate. No!” Trump wrote.

Politico reported on Wednesday that the two countries are close to a deal, which could come as soon as the end of this week.

Trump has made a priority of shaking up American trade policy.

As a candidate for the presidency, Trump raged repeatedly about alleged Chinese perfidy — so much so that a video mashup of him spitting out the word “China” went viral and collected more than 15 million views on Youtube.com.

Trump charged that previous administrations, gullible and weak, had let China get away with abusive trade practices, accepting empty promises from Beijing and allowing the U.S.-China economic relationship to grow ever more lopsided. As evidence, he pointed to America’s vast U.S. trade deficit with China — $379 billion last year, by far the biggest with any country in the world.

Once he took office, Trump’s relationship with his Chinese counterpart, Xi Jinping, seemed to get off to a good start. The two men shared chocolate cake and amiable conversation at Trump’s resort in Mar-a-Lago, Florida, in April 2017. A few weeks later, China agreed to open its market U.S. beef, cooked chicken, and natural gas in what Commerce Secretary Wilbur Ross called a “herculean accomplishment.”

The romance faded. In March 2018, the Office of the U.S. Trade Representative issued a report accusing China of using predatory tactics to strengthen its tech companies.

Last July, the Trump administration gradually began slapping import taxes on Chinese goods to pressure Beijing into changing its policies. It now has imposed 10% tariffs on $200 billion in Chinese imports and 25% tariffs on another $50 billion. The Chinese have retaliated by targeting $110 billion in U.S. imports.

The fight between the world’s two biggest economies is raising worries about global economic growth. The International Monetary Fund, the World Bank, and others have downgraded their forecasts for the world economy, saying the U.S.-China standoff is reducing world trade and creating uncertainty for companies trying to decide where to buy supplies, build factories, and make investments.

Trump has portrayed his tariffs as a moneymaker for the United States and a benefit to the U.S. economy.

But a March study by economists from the Federal Reserve Bank of New York, Columbia University, and Princeton University found that the burden of Trump’s tariffs — including taxes on steel, aluminum, solar panels, and Chinese imports — falls entirely on U.S. consumers and businesses who buy imported products. By the end of last year, the study found, they were paying $3 billion a month in higher taxes and absorbing $1.4 billion a month in lost efficiency.

Nonetheless, the overall U.S. economy has remained healthy. On Friday, the government reported that the U.S. unemployment rate had fallen to the lowest level in half a century.

Stocks making the biggest moves midday: Netflix, Boeing, Tesla, Eli Lilly & more

Check out the companies making headlines midday Friday this week:

Netflix — Shares of the video-streaming giant fell 4 percent after issuing weaker-than-expected guidance for the first quarter of 2019. The company also posted lighter-than-expected revenue for the fourth quarter of 2018.

Schlumberger — Schlumberger’s stock rose more than 8 percent and posted its biggest one-day gain since 2011. The jump came after the company issued upbeat guidance for 2019. CEO Paal Kibsgaard said in a statement Schlumberger expects “expect a more positive supply- and demand-balance sentiment to lead to a gradual recovery in the price of oil over the course of the year.”

American Express — The Dow component fell on the back of disappointing quarterly results before recovering. American Express reported adjusted fourth quarter earnings of $1.74 per share and revenue of $10.47 billion. Analysts polled by Refinitv expected a profit of $1.80 per share and sales of $10.56 billion.

Boeing, Caterpillar — Shares of Boeing and Caterpillar rose 1.6 percent and 2.2 percent, respectively. The rise came after sources told CNBC that China has offered to boost U.S. imports for six years during ongoing trade talks.

Pilgrim’s Pride, Sanderson Farms —The chicken producers rose more than 6.5 percent each. An analyst at Mizuho Securities cited the recent thawing in U.S.-China trade talks, noting: “The long-awaited reopening of the China market would be unquestionably good news for US producers as China is by far the largest (and virtually only) market for chicken byproducts (paws and wing tips).”

V.F. Corp. — Shares of V.F. Corp. shot up more than 12 percent after the apparel company posted better-than-expected earnings. The company posted earnings per share of $1.16 percent, topping a $1.10 estimate.

Eli Lilly — Eli Lilly’s stock fell 2.2 percent in midday trading after the company announced that a phase 3 study of Lartruvo failed. Lartruvo is a drug that aims to treat cancer.

U.S. Concrete, Vulcan Materials, Eagle Materials, Summit Materials — Construction stocks rose broadly after Reuters reported that President Donald Trump is trying to revive support for an infrastructure plan that would last up to 13 years.

Tesla —The electric car maker’s stock dropped nearly 13 percent after the company announced it would cut 7 percent of its workforce. CEO Elon Musk said in an email that Tesla faces a “very difficult” road ahead.

Jack Bogle feared this one thing most and it drove him to revolutionize investing with Vanguard

The CNBC says, Former Vanguard Group Chairman and CEO F. William McNabb told CNBC that his first meeting with Jack Bogle, and the one that made a lasting impression on him, was his interview for a product manager position at the fund company in 1986.

Bogle, the founder of Vanguard who is credited with revolutionizing the investment business, had his feet propped up during the interview because of “doctor’s orders” while he recovered from a heart attack. “It’s the only concession I’ll make to be in the office,” McNabb recalled Bogle saying.

At the time, McNabb was working on Wall Street after graduating from the University of Pennsylvania’s Wharton School, but Bogle didn’t ask McNabb one question about his resume. Instead, they talked about values, education and books.

It was emblematic of the type of company Bogle had built and of his legacy, McNabb told CNBC. Bogle died Wednesday at age 89.

This ‘90s Jack Bogle interview shows how little his famous investing strategy changed over the years.

Bogle believed that culture trumped strategy every time and that Vanguard would be a place where everyone’s contribution was valued and respected, McNabb told CNBC on Friday. The culture Bogle fostered at Vanguard was one of hard work, treating everyone with respect, always doing the right thing and putting clients’ interests first, McNabb said.

Bogle feared complacency. He was inspired by the writings of American revolutionary Thomas Paine, who was often quoted in Bogle’s books, and the economist Joseph Schumpeter, who popularized the term “creative destruction.” What other industry executives found disruptive, Bogle thought necessary to remain relevant.

“When you look at Vanguard today, we are a result of a lot of those steps,” said McNabb.

In its first year, Vanguard managed $1.7 billion of customer assets, and when Bogle stepped down as CEO, Vanguard had reached $250 billion assets under management. The company now manages $5.1 trillion, largely because of the popularity of Bogle’s industry-changing idea: index mutual funds.

McNabb became CEO of Vanguard two weeks before the fall of Lehman Brothers in 2008. Amidst the turmoil of the financial crisis, he asked himself, “what would Jack do?,” and recalls Bogle’s favorite phrase: Press on, regardless.

特朗普总统对中美达成贸易协议持乐观态度

白宫经济委员会(White House National Economic Council )主任拉里·库德洛(Larry Kudlow)表示,美国在解决与中国的贸易争端方面继续取得进展。

库德洛在星期五在接受美国媒体采访时表示:我们北京会议上取得了一些进展。”他表示:“没有任何问题得到解决,没有任何纸面上的解决,没有任何合同。”他指出,近期有关协议即将达成的新闻报道,在目前这个时候并不准确。

然而,特朗普总统仍然对达成贸易协议的前景持乐观态度,并正在与北京方面进行精明的谈判,以达成对美国最有利的协议。

库德洛说:他想和中国达成一项协议,这对美国、美国的劳动力、美国的农民、美国的制造商和美国的技术都是一笔大买卖。

一个多星期前,美国副贸易代表杰弗里·格瑞斯率美国农业、商务、能源、财政部和白宫高级官员会见了中国代表团。

自去年以来,世界上最大的两个经济体陷入了一场贸易战,导致了对彼此商品的针锋相对的关税。美国金融市场也在关注和回应有关进展和挫折的报告。

库德洛表示,美中贸易协议对美国经济的增长至关重要。中国的贸易谈判将对美国未来的增长、繁荣、就业和利润产生影响。

美国进口价格下降;同比降幅为2016年以来最大

据美国全国广播公司报道,美国12月进口物价连续第二个月下滑,因石油产品成本大跌,且美元走强抑制其他商品价格,导致两年多来最大年度降幅。

美国劳工部周三公布的数据,令疲弱的生产者物价指数和消费者物价指数雪上加霜,强化了分析师对美国联邦储备理事会近期将暂停升息的预期。

美联储主席杰罗姆•鲍威尔(Jerome Powell)上周表示,低通胀让政策制定者在监控经济数据和金融市场以寻找增长风险的同时,“有能力保持耐心,耐心而仔细地观察”。美国中央银行预测今年将有两次加息。

进口价格继11月下修1.9%后,上月下跌1.0%。路透调查的分析师此前预计,12月进口价格将下降1.3%,11月为下降1.6%。

在截至12月的12个月中,进口价格下降了0.6%。这是自2016年9月以来的最大年度降幅。

这也是自2016年10月以来首次同比下降,11月同比上升0.5%。进口价格在2017年上涨3.2%之后,在2018年下跌0.6%,这是自2015年以来的首次历年下跌。美国金融市场几乎没有受到这些数据的影响。

在低通胀和中国及欧洲经济增长放缓的背景下,一些经济学家认为,美联储不会在2019年上半年加息。有迹象显示,美国经济在2018年底放缓,12月消费者和企业信心调查大幅减弱。

但联邦政府持续的部分停摆,推迟了美国经济分析局(Bureau of Economic Analysis)和人口普查局(Census Bureau)的数据发布,这使得人们很难对经济有一个好的解读,并可能使政策决策复杂化。

12月22日,政府部分关闭,原因是美国总统唐纳德·特朗普(Donald Trump)要求美国国会今年给他57亿美元,帮助他在美墨边境修建一堵墙。美国政府历史上最长时间的关门时间推迟了原定于周三公布的12月零售销售和11月企业库存数据。

11月建筑支出和贸易数据的公布也被推迟,定于周四公布的12月房屋开工和建筑许可报告也可能被推迟。经济学家估计,政府关门每周至少会使美国国内生产总值的季度增幅下降0.2个百分点。

上个月,进口燃料和润滑油的价格在11月下跌13.3%之后,又下跌了9.2%。进口石油价格继11月下跌16.0%后,又下跌11.6%。

进口食品价格继前一个月下跌2.2%之后,12月小幅上涨0.1%。资本品成本下降,但汽车和消费品价格小幅上涨。

扣除燃料和食品,进口价格继11月下滑0.1%后,上月持平。所谓的核心进口价格在截至12月的12个月中上涨了0.6%。美元走强压低了核心进口价格。去年,美元对美国主要贸易伙伴的货币升值约7.5%。

上个月从中国进口的商品价格保持不变。中国进口商品的价格在2018年下降了0.2%,自2011年以来没有按日历年增长。

该报告还显示,12月出口价格下降0.6%,11月为下降0.8%。农产品出口价格上涨3.9%,但非农业产品价格下跌1.1%,抵消了出口价格上涨3.9%的影响。

12月农产品价格涨幅为2012年8月以来最大,反映了大豆和坚果价格的上涨。出口价格在11月上涨1.8%之后,12月同比上涨1.1%。2018年增长了1.1%。

第三十届世界亚裔小姐美国总决赛在洛杉矶成功落幕

12月8日由美国国际商会主办的2018第三十届世界亚裔小姐选美大赛美国总决赛,在具有百年历史的美国洛杉矶千禧酒店成功落下帷幕。

参加本届美国总决赛的18位参赛佳丽,经过民族服装、泳装、运动装、才艺表演、礼服和机智问答环节的激烈竞赛,加州州立大学波莫纳分校酒店管理专业的美国亚裔参赛佳丽波尔瓦尼以最高得分摘得桂冠,荣获2018世界亚裔小姐冠军称号;来自中国四川电影电视学院播音主持专业的本科学生张语轩荣获本届总决赛亚军,第三名季军由来自蒙古国的参赛佳丽吉布呼兰摘取。

本届总决赛的参赛佳丽们才貌双全,光彩夺目,具有高学历、才艺高的特点,分别荣获了专项奖。

出任本届总决赛的评委均是来自美国好莱坞演艺、电影、时尚届的知名人士和业界的翘楚,他们的加入突显了本届大赛评审的专业性和权威性。大赛特邀嘉宾也都是政界、工商界、艺术界的成功人士,他们对本届大赛参赛选手、组织策划、灯光舞美都给予了高度评价。

中国赛区选送赴美的本届参赛佳丽均表现优秀,张语轩荣获了世界亚裔小姐总决赛亚军,吴桢蕙荣获世界亚裔小姐形象大使奖和最佳泳装展示奖,赵梦婷、王海燕分别荣获世界亚裔小姐最佳魅力奖和世界亚裔小姐最佳上镜奖,通过世界亚裔小姐选美大赛的顶级舞台展示了中国参赛佳丽的亮丽风彩。

加州洛杉矶郡政府在大赛颁奖典礼现场对美国国际商会主办第三十届世界亚裔小姐大赛所作出的杰出成就与贡献颁发了荣誉奖状,表彰美国国际商会,以及联合主办方美国全美电视台为促进国际文化交流所作出努力和杰出贡献。

美国国际商会主席豪姆斯·司特乐表示,感谢联合主办单位、协办单位及承办单位的协作与支持,感谢执行团队的努力工作,特别感谢各赞助商的大力支持,本届世界亚裔小姐选美大赛再次将美国与世界联接在一起,增进各国人民友谊,促进共同发展繁荣,展示了世界人民和谐发展共同繁荣美好愿望。

美国国际商会执行主席、世界亚裔小姐选美大赛组委会执行主席秦嘉豪在总决赛颁奖典礼现场表示,2019世界亚裔小姐选美大赛即将启动,全球范围内的报名海选也将展开,欢迎国际知名企业参与支持,携手合作、共创辉煌。

作为具有公益性质的本届大赛得到了美国及海外媒体的大力合作,获得了包括达美航空、中国南方航空、联盟知库等知名企业和机构的鼎力赞助与合作支持,使得2018第三十届世界亚裔小姐选美大赛美国总决赛盛典再创辉煌,成功圆满落下帷幕。

世界亚裔小姐选美大赛1980年代初期创办于美国加州洛杉矶,即将到来的2019年将迎来第31届。世界亚裔小姐选美大赛是美国国际商会拥有的知名大赛品牌之一,是最具知名度的世界性亚裔选美盛典,也是目前世界性最顶级的选美大赛。大赛每年在世界范围内主办和推广赛事活动,旨在鼓励优秀亚裔佳丽的文化自信和女神风范。通过在全球范围内公开遴选、甄评和推介出的“世界亚裔小姐选美大赛”获奖者,均是优秀亚裔女性代表,她们在形体、知性和心灵塑造方面所展现出来的东方之美,是整个亚裔女性整体特征的缩影,也是全球亚裔族群共同的骄傲。

MBDA Awards Nearly $2 Million to Historically Black Colleges and Universities

WASHINGTON (December 3, 2018) – The U.S. Department of Commerce’s Minority Business Development Agency (MBDA), is announcing grant awards of nearly $2 million to four Historically Black Colleges and Universities (HBCUs). In June 2018, MBDA invited HBCUs to propose projects that will achieve one or more of the following objectives: increase their ability to compete for and receive Federal research and development funds; establish partnerships with Federal laboratories and other technology resources; increase Science, Technology, Engineering, and Mathematics (STEM) entrepreneurship; and compete for Federal contracts.

“Historically Black Colleges and Universities served as the catalyst to creating the black middle class in America and will continue to be the incubator for minority business talent, innovation, and leadership. These important schools generate billions in economic impact annually and are engines for job creation in their local economies across the United States,” said MBDA National Director Henry Childs II. “These grant awards will provide seed money for these institutions to pursue innovative projects and to build more revenue-generating infrastructures to better serve our nation’s future entrepreneurs and workforce.”

The HBCUs that received grant awards include:

Clark Atlanta University ($499,497) to develop a STEM entrepreneurship curriculum that increases student interest in the innovation economy at three Atlanta University Center Consortium campuses.

Howard University ($359,891) to design a technical support model for 11 HBCUs in the mid-Atlantic region to compete for Federal research and development funds and leverage partnerships with Federal laboratories.

South Carolina State University ($404,992) to launch regional training sessions for HBCUs to compete for Federal research and development funds.

Tougaloo College ($695,412) to establish a partnership among multiple HBCUs, private companies, federal labs, and research institutions to increase capacity for HBCUs to participate in federal research and contracting opportunities.

These programs are part of the 2018 MBDA Broad Agency Announcement, a new initiative this year. More than $13 million was awarded for 35 projects focused on Department of Commerce and MBDA priorities from resources that increase disaster preparedness and relief to programs that increase access to capital.