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Newspaper
Cedar Rapids Gazette
Location
Cedar Rapids, Iowa, United States of America
Date
May 05, 2018
Page
13
European currencies retreat as the euro forms around 0.836 against a benchmark while gold steadies near 1,314.7 amid a 0.24 percent uptick in trading. Thomson Reuters notes modest shifts across asset classes with thin liquidity.
Washington and Beijing engaged in high level talks amid a push by the United States for a $200 billion reduction in China's trade surplus and lower tariffs. The discussions aimed to curb technology transfers and protect intellectual property while signaling possible tariffs on up to $150 billion of Chinese goods. Beijing sought relief on sanctions against ZTE, urged equal investment scrutiny, and proposed tariff concessions on cars and sorghum.
A study commissioned by the Consumer Technology Association and National Retail Federation says tariffs on 50 billion dollars of Chinese goods would cost about 1,800 Iowa jobs and cut farm incomes by 6.7 percent. It notes broader national losses totaling 134,000 jobs and outlines mixed effects across sectors.
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