Continued strong consumer appetite for overseas goods pushed up the US trade deficit in December, sending the full-year import-export gap to a record level in 2021.The December deficit in trade of goods and services grew by 1.8% to a seasonally adjusted $80.7 billion, the Commerce Department said Tuesday, just less …
Read More »America Adds Chinese Entities to The List of Exports That Require Additional Procedures
The US Commerce Department said it has added 33 Chinese entities to what it calls a list of unverified exports that requires US exports to go through additional procedures before goods are shipped to those entities. On Monday, the department said it was taking the step because it was unable …
Read More »Chinese Foreign Ministry: China and America Should Deal With Trade Issues on The Basis of Mutual Respect
China and the United States should approach trade issues on the basis of mutual respect, China’s Foreign Ministry said on Monday, after U.S. officials urged Beijing to take concrete measures to fulfill commitments under a trade deal. No trade disputes are not in anyone’s interest, Foreign Ministry spokesman Zhao Lijian …
Read More »Market Drivers – US Session – 24-12-2021
Gold rose for the second successive week and finished slightly below $1810 after rebounding from $1783. It was unable to hit fresh monthly highs.The precious metal continued to improve its outlook, with a close above the 55-week simple moving average. The upside continues to face resistance around $1810/15. A break …
Read More »China Extends Tariff Exemptions On US Goods Till June 2022
China’s finance ministry has announced on Friday that they will be extending tariff exemptions on some imported goods from the United States until June 30, 2022. There was no immediate market reaction to this news as trading conditions remain thin on Christmas Eve. From January 2020 through November 2021, China’s …
Read More »U.S. factory orders reaped new gains in August
New orders for U.S. made goods accelerated in August, signaling sustained strength in manufacturing even though economic growth appeared to have slowed during the third quarter of 2021 because of shortages of raw materials and labor.“Factory orders increased 1.2% in August. Data for July was revised higher to show orders …
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