Tesla has stopped accepting new orders in China for two car models that it imports from a factory in the United States, after the Chinese government imposed steep tariffs on American imports.
On Friday, Tesla’s website in China removed the “order” button from the Model S sedan and Model X sport utility vehicle.
» Read more about: Tesla Halts Orders in China on U.S. Imported Models »
The U.S. financial markets have experienced considerable volatility over the past few months, driven by a mix of economic uncertainty, interest rate hikes, inflation concerns, and rising geopolitical tensions. As the markets fluctuate dramatically, trading firms are grappling with challenges that were previously unimaginable in terms of capacity and volume.
“The biggest challenges firms are facing today revolve around capacity and volume—especially when it comes to market data and trading activity,” Adam Cohn,
» Read more about: Trading Firms Manage Extreme Market Swings »
China promised to take “resolute and forceful” measures to safeguard its interests after US tariffs totalling 104 per cent came into effect Wednesday but stopped short of announcing any new import taxes on America. US President Donald Trump’s explosive new tariffs on 60 countries came into effect just after midnight Wednesday US time.
US stocks swung back to gains before the bell on Friday, eyeing a comeback bid after China hit the US with a retaliatory tariff hike but signaled it won’t hike duties any further.
Futures tied to the S&P 500 (ES=F) rose 0.4%, and the tech-heavy Nasdaq (NQ=F) was up 0.5%.
A total of 79 of the homes would have been apartments and 28 would have been cottages for senior retirement living, while the medical centre would have included 10 consulting rooms, according to the Local Democracy Reporting Service.
Planning officers, who recommended the scheme for refusal, said there were no exceptional circumstances for building on rural land and the proposed development did not fit into the surroundings.
» Read more about: Plans for new retirement complex and GP rejected »
It is not far-fetched to imagine that Donald Trump may have been forced out of office if the US followed a parliamentary system of government, in which a Prime Minister is just a vote of no confidence away from being gone. That’s because, thanks to his fascination with tariffs,
» Read more about: ExplainSpeaking | US dollar’s fall: Why this is Donald Trump’s Liz Truss moment »
David Waddell
Business reporter
» Read more about: China raises tariffs on US goods to 125% as trade war ramps up »
Inflationary pressures eased at the wholesale level last month, another indication of a strong economy before the bulk of President Donald Trump’s aggressive trade policies kicked in.
The Producer Price Index, a closely watched measurement of wholesale inflation,
U.S. stock futures
were higher on Friday morning as investors eyed the latest tariff-related developments.
Futures tied to the Dow Jones Industrial Average rose 200 points, or 0.5%, while S&P 500 futures and Nasdaq Composite futures were 0.7% and 0.8% higher, respectively.
Stock futures initially swung lower after China announced on Friday that it will raise tariffs on American goods to 125% from 84%.
» Read more about: China hikes US tariffs to 125% as trade war with Trump administration escalates »
Umberto Cavallaro is Head of Business Development at AscoService, empowering clients with their supply chain management systems.
The global commodities market is facing unprecedented challenges due to a combination of geopolitical tensions, economic uncertainty and supply chain disruptions.
» Read more about: Commodities: A Market Under Geopolitical And Economic Pressure »
