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Senin, 13 Mei 2019

Dow tumbles 475 points after China retaliates with higher tariffs - CNN

China hiked tariffs on $60 billion of imports from the United States. It first imposed the tariffs last year.

Worries over the escalation of the trade spat with China just aren't going away.

US stocks opened sharply lower. The S&P 500 (SPX) fell 1.7% and the Nasdaq (COMP) dropped 2.1%. The Dow fell more than 475 points at the open.

Last week, tensions escalated between Washington and Beijing, starting with a tweet from President Donald Trump on Sunday, May 5. Trump threatened further tariffs on Chinese imports, and his administration followed through on Friday, when it raised tariffs to 25% from 10% on some $200 billion worth of imported goods from China. The additional tariffs are not expected to affect goods already in transit, which buys negotiators a new negotiation window.

Stocks recovered on Friday after Trump and Treasury Secretary Steven Mnuchin called last week's talk with Chinese negotiators "constructive." Still, the Dow ended the week 2.1% lower, making its worst week since March.

Over the weekend, Trump tweeted extensively about the trade spat, calling US companies to produce goods domestically to avoid tariffs and that a trade deal will get worse for China if negotiations dragged on past the presidential election in 2020. He also reiterated that Beijing "broke the deal".

Trump also partly attributed the first quarter US GDP growth of 3.2% to his tariff strategy.

White House economist adviser Larry Kudlow said on Sunday the US expected retaliation from China over the new tariffs.

China will "never yield to external pressure" and is determined to protect its rights, said Geng Shuang, a spokesperson for the Ministry of Foreign Affairs on Monday.

European stocks were lower across the board. Asian markets closed lower, with the Shanghai Composite (SHCOMP) ending Monday trading down 1.2%.

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https://www.cnn.com/2019/05/13/investing/dow-stocks-today/index.html

2019-05-13 13:33:00Z
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Pompeo cancels planned trip to Moscow - The Hill

Secretary of State Mike PompeoMichael (Mike) Richard Pompeo Schumer urging Pompeo to warn Putin of consequences if Russia interferes in election The threat of Iran is in our backyard Calling out Code Pink's ignorance and hypocrisy MORE canceled his planned trip to Moscow Monday and headed to Brussels to meet with European allies to discuss "threatening actions and statements by the Islamic Republic of Iran," the State Department said.

Pompeo is still planning to meet on Tuesday with Russian President Vladimir PutinVladimir Vladimirovich Putin Another kindred spirit comes to Trump's White House Schumer urging Pompeo to warn Putin of consequences if Russia interferes in election Pompeo faces myriad challenges in Putin meeting MORE and his Russian counterpart Sergey Lavrov in Sochi, Russia, according to State.

Pompeo is scheduled to discuss "the full range of bilateral and multilateral challenges" with Putin and Lavrov, according to the State Department.

Pompeo is scheduled to discuss a number of issues, including Iran, with officials from the United Kingdom, France and Germany while in Brussels, according to the State Department.

Tensions with Iran have flared following national security adviser John BoltonJohn Robert Bolton Israeli minister warns of attacks on Israel if tensions between US, Iran escalate Iranian commander: US forces in gulf a target, not a threat Minister warns of attacks on Israel if tensions between US, Iran escalate MORE’s announcement last week that the U.S. would deploy a carrier strike group to the region after what the U.S. called “troubling and escalatory indications and warnings” from Tehran.

Iran responded to the announcement by saying it will reduce its commitments under the 2015 nuclear deal reached under the Obama administration, which the Trump administration withdrew from roughly a year ago.

The move of USS Abraham Lincoln Carrier Strike Group into Central Command's jurisdiction is part of an increasingly aggressive posture toward Iran, which includes labeling Iran’s Islamic Revolutionary Guard Corps as a “foreign terrorist organization.”

Iran responded in kind, designating all U.S. troops in the Middle East terrorists.

Updated at 8:39 a.m.

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https://thehill.com/policy/defense/443345-pompeo-cancels-planned-trip-to-moscow

2019-05-13 12:08:20Z
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Dow futures are sharply lower after China retaliates with higher tariffs - CNN

China hiked tariffs on $60 billion of imports from the United States. It first imposed the tariffs last year.

Worries over the escalation of the trade spat with China just aren't going away.

US stocks opened sharply lower. The S&P 500 (SPX) fell 1.7% and the Nasdaq (COMP) dropped 2.1%. The Dow fell more than 475 points at the open.

Trump also partly attributed the first quarter US GDP growth of 3.2% to his tariff strategy.

White House economist adviser Larry Kudlow said on Sunday the US expected retaliation from China over the new tariffs.

China will "never yield to external pressure" and is determined to protect its rights, said Geng Shuang, a spokesperson for the Ministry of Foreign Affairs on Monday.

European stocks were lower across the board. Asian markets closed lower, with the Shanghai Composite (SHCOMP) ending Monday trading down 1.2%.

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https://www.cnn.com/2019/05/13/investing/dow-stocks-today/index.html

2019-05-13 12:54:00Z
CAIiEDDmUV3D2PpQIeTczXy86VkqGQgEKhAIACoHCAowocv1CjCSptoCMPrTpgU

Trump to China President Xi: 'You backed out!' - CNBC

Chinese President Xi Jinping and U.S. President Donald Trump attend a welcome ceremony at the Great Hall of the People in Beijing on November 9, 2017.

Fred Dufour | AFP | Getty Images

President Donald Trump blamed China's President Xi Jinping for a trade deal falling apart between the two countries in the final week. Trump said to President Xi "you had a great deal...& you backed out" in a tweet on Monday.

Trade talks broke down last week after the White House accused China of reneging on key portions of an agreement and then hiked the tariff rate to 25% on $200 billion of Chinese goods on Friday.

President Trump also warned China on Monday not to retaliate to those new tariffs. It "will only get worse!," he wrote.

Trump said Friday that trade talks would continue with China but there are no official meetings planned in the future yet. China's Commerce Ministry said last week it would take countermeasures against the American tariff hike, but no official announcement has been made.

President Trump warned China in a tweet on Saturday to 'act now' on trade or face a 'far worse' deal in his second term.

White House Economic Advisor Larry Kudlow said Sunday that Beijing invited U.S. Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin to engage in talks but travel plans have not been made. Kudlow also said that Trump and President Xi would likely meet at the June G-20 summit in Japan.

Traders reacted negatively on Monday to Trump ratcheting up the rhetoric amid this tenuous time. The Dow Jones Industrial Average futures indicated a drop of about 300 points at the open. While S&P 500 futures pointed to a loss of 1.1% and Nasdaq 100 futures indicated a drop of 1.5%. The Dow lost 1.9% last week as the trade deal fell apart.

How the Chinese might retaliate is being debated by experts. Some people think China will target U.S. farmers and farm exports because Trump cares about that politically. Others think China could dump more than $1 trillion worth of U.S. debt, however, experts say that would ultimately hurt China's balance sheet.

China's yuan was set for its worst daily fall in nine months on Monday. The yuan fell 0.8% to 6.9040, its weakest since December 27.

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https://www.cnbc.com/2019/05/13/trump-to-china-president-xi-you-backed-out.html

2019-05-13 11:58:45Z
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Trump to China President Xi: 'You backed out!' - CNBC

Chinese President Xi Jinping and U.S. President Donald Trump attend a welcome ceremony at the Great Hall of the People in Beijing on November 9, 2017.

Fred Dufour | AFP | Getty Images

Trade talks broke down last week after the White House accused China of reneging on key portions of an agreement and then hiked the tariff rate to 25% on $200 billion of Chinese goods on Friday.

President Trump also warned China on Monday not to retaliate to those new tariffs. It "will only get worse!," he wrote.

President Trump warned China in a tweet on Saturday to 'act now' on trade or face a 'far worse' deal in his second term.

China's yuan was set for its worst daily fall in nine months on Monday. The yuan fell 0.8% to 6.9040, its weakest since December 27.

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https://www.cnbc.com/2019/05/13/trump-to-china-president-xi-you-backed-out.html

2019-05-13 11:57:33Z
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Sweden Reopens Rape Case Against Julian Assange - The New York Times

The Swedish authorities announced on Monday that they would reopen an investigation into a rape allegation against Julian Assange, the WikiLeaks founder, who is serving a prison term in Britain for jumping bail as the United States seeks his extradition for his role in a huge breach of classified data.

The United States has already begun trying to extradite Mr. Assange, an effort that was expected to be prolonged and complex even before the announcement in Stockholm on Monday, and it could be further complicated by Sweden’s wish to reinstate its investigation.

British officials will determine which case takes precedence, Swedish prosecutors said, adding that if Mr. Assange were eventually extradited to Sweden, he could not be sent to the United States without the consent of Britain. The investigation stems from an accusation in August 2010 made by a Swedish woman, who said that Mr. Assange had sexually assaulted her.

Mr. Assange was removed from the Ecuadorean Embassy in London last month and promptly arrested, seven years after seeking refuge to avoid extradition in an earlier Swedish investigation into the same rape case, and then sentenced to 50 weeks for jumping bail.

With Mr. Assange in custody, the United States began the extradition process on a conspiracy charge — punishable by up to five years in prison — over his involvement in one of the largest leaks of classified materials in American history.

Eva-Marie Persson, Sweden’s deputy director of public prosecutions, announced the decision a news conference in Stockholm on Monday, saying that the Swedish authorities would reopen their investigation because there was still probable cause to suspect that Mr. Assange had committed the crime in question.

“I take the view that there exists the possibility to take the case forward,” Ms. Persson said. The decision to reopen the preliminary investigation is not equivalent to making a decision to indict him, she said, but a European arrest warrant will be issued so that the Swedish authorities can ultimately take Mr. Assange into custody and question him.

Per Samuelsson, Mr. Assange’s Swedish lawyer, said he was surprised by the decision to reopen the investigation. “It’s not proportionate,” Mr. Samuelsson said, adding that he has not spoken to his client since last month. “He has been sentenced to 50 weeks. He faces extradition for revealing the truth about the wars in Iraq and Afghanistan. To force him to concentrate on this old investigation is highly unreasonable.”

The Swedish investigation began in 2010, after two women accused Mr. Assange of assaulting them during separate sexual encounters while he was visiting Stockholm.

He was living in London at the time, and the Swedish authorities issued a European arrest warrant in seeking his extradition for questioning over “suspicion of rape, three cases of sexual molestation and illegal coercion.” The statute of limitations ran out on those allegations, with the exception of the rape accusation.

Mr. Assange was arrested by the British police in 2011, and after a series of failed appeals while he was out on bail, he fled to the Ecuadorean Embassy to avoid extradition.

Sweden dropped the initial investigation in May 2017, having concluded that there was no way to proceed with the case as long as Mr. Assange was holed up in the embassy, and prosecutors indicated at the time that they had not cleared him and they reserved the right to reopen their inquiry.

Last month, days after Mr. Assange was removed from the embassy, having worn out his welcome with his hosts, Sweden announced that a lawyer for the two accusers had requested that the investigation be reopened into the accusation of rape brought by one of the women.

The prosecution still falls within the country’s 10-year statute of limitations to restart it. The statute of limitations has already passed for sexual molestation and unlawful coercion accusations made by the other woman.

The same day Mr. Assange was removed from the embassy, the United States unsealed an indictment against him on a charge that stems from a leak of hundreds of thousands of documents, mostly related to the wars in Iraq and Afghanistan, which were published by WikiLeaks.

The American authorities have accused Mr. Assange of conspiring with Chelsea Manning, a former Army intelligence analyst, to crack an encoded password that would have permitted her to log into a classified Pentagon network under someone else’s identity.

At Mr. Assange’s first hearing in the extradition case, held this month, he told the judge that he did not wish to surrender to the United States to be prosecuted for what he called “journalism that has won many awards.”

Mr. Assange could face additional charges in the United States, although prosecutors have appeared to be wary of pursuing a case that would treat the act of publishing information as a crime, a move that would raise questions about whether his First Amendment rights to free speech were being violated.

Ms. Manning was recently released after being jailed for two months for refusing to testify before a grand jury investigating WikiLeaks.

Ms. Persson, the Swedish prosecutor, said that because Mr. Assange has been convicted of a crime in Britain, he would serve at least 25 weeks of his sentence before he can be released and potentially transported to Sweden.

The Swedish authorities hope to question Mr. Assange while he is still in British detention, Ms. Persson said, but that would require his consent.

She also said that it would be up to Britain to determine whether the United States extradition request or the Swedish investigation takes precedence.

“This decision has been left entirely to the British authorities. The outcome of this process is impossible to predict,” she said, but added that the Swedish investigation could continue concurrently with the British process.

One of Mr. Assange’s accusers in Sweden has publicly identified herself, and the woman, Anna Ardin, told the Swedish newspaper Aftonbladet that Mr. Assange was “a man who has a twisted attitude toward women and a problem taking no for an answer.”

Last month, Ms. Ardin tweeted that she would be “very surprised & sad if Julian is handed over to the US.” She added, “For me this was never about anything else than his misconduct against me/women and his refusal to take responsibility for this.”

But Mr. Assange and his supporters have long maintained that the accusations were attempts to discredit him, and he had maintained that the effort to extradite him to Sweden were a pretext to eventually send him to the United States.

Kristinn Hrafnsson, the editor in chief of WikiLeaks, said in a statement released shortly after the Swedish prosecutors’ announcement that the case “has been mishandled throughout.”

“This investigation has been dropped before, and its reopening will give Julian a chance to clear his name,” Mr. Hrafnsson said.

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https://www.nytimes.com/2019/05/13/world/europe/wikileaks-julian-assange.html

2019-05-13 11:03:45Z
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Trump to China President Xi: 'You backed out!' - CNBC

Chinese President Xi Jinping and U.S. President Donald Trump attend a welcome ceremony at the Great Hall of the People in Beijing on November 9, 2017.

Fred Dufour | AFP | Getty Images

Trade talks broke down last week after the White House accused China of reneging on key portions of an agreement and then hiked the tariff rate to 25% on $200 billion of Chinese goods on Friday.

President Trump also warned China on Monday not to retaliate to those new tariffs. It "will only get worse!," he wrote.

President Trump warned China in a tweet on Saturday to 'act now' on trade or face a 'far worse' deal in his second term.

China's yuan was set for its worst daily fall in nine months on Monday. The yuan fell 0.8% to 6.9040, its weakest since December 27.

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https://www.cnbc.com/2019/05/13/trump-to-china-president-xi-you-backed-out.html

2019-05-13 11:00:23Z
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