The United States is the largest market for Vietnam’s exports in the first five months of this year, generating an export revenue of US$22.6 billion, up 28% year-on-year. Some exports with the highest growth are smart phones and parts, with 109.2%; electronics, computers and parts 58.4%; and textiles and garments 9.8%. (Photo: Saigon Times) Under the impact of the U.S.-China trade war, Chinese goods are subject to high U.S. tariffs, leaving room for enterprises from other countries, including Vietnam, to penetrate the U.S. market. At present, Chinese leather products, shoes and handbags are not yet put in the group of commodities subject to a 25% U.S. tariff. However, Diep Thanh Kiet, vice chairman of the Vietnam Leather, Shoe and Handbag Association (Lefaso), said many big international footwear companies have contacted Lefaso members for a shift of U.S.-bound orders from China. Vietnam currently exports US$4 billion worth of footwear to the U.S. after China, with … [Read more...] about Potential risks for exports to U.S.
Barclays u s aggregate bond index
"We have a gentleman that likes a very strong dollar at the Fed," Trump said at the annual Conservative Political Action Conference in Oxon Hill, Maryland. "I want a strong dollar, but I want a dollar that’s great for our country not a dollar that is so strong that it is prohibitive for us to be dealing with other nations." Trump, who has made the economy a key part of his political platform, has repeatedly criticized the Federal Reserve and its chairman, Jerome Powell, whom he appointed to head up the Fed, for raising interest rates. The U.S. central bank, after raising interest rates four times last year, has signaled recently that it will be "patient" before tightening monetary policy further, in a nod to rising concerns about the economic outlook amid financial markets volatility, slowing global growth and a trade war between the United States and China. "We have a gentleman in the Fed that loves quantitative tightening. We want a strong dollar, but let’s be … [Read more...] about Trump says strong dollar hurting U.S. competitiveness
Trump official slams cartels as U.S. lawmakers push anti-OPEC bill The Saigon Times Daily The logo of the Organization of the Petroleum Exporting Countries (OPEC) is seen at its headquarters in Vienna, Austria, December 5, 2018 – PHOTO: REUTERS WASHINGTON (REUTERS) - A senior administration official said on Friday that U.S. national security depends on affordable energy, and slammed cartels when asked if President Donald Trump would support a bill targeting the OPEC production group’s oil supply cuts. “The United States is firmly committed to open, fair and competitive markets for global energy trade,” said the official, who spoke on condition of anonymity. “We do not support market-distorting behaviour, including cartels.” The House of Representatives’ Judiciary Committee on Thursday unanimously passed the No Oil Producing and Exporting Cartels, or NOPEC, bill. House Majority Leader Steny Hoyer, who has supported NOPEC in the past, … [Read more...] about Trump official slams cartels as U.S. lawmakers push anti-OPEC bill
Maduro rival Guaido claims Venezuela presidency with U.S. backingThe Saigon Times Daily Juan Guaido, President of Venezuela's National Assembly, holds a copy of Venezuelan constitution during a rally against Venezuelan President Nicolas Maduro's government and to commemorate the 61st anniversary of the end of the dictatorship of Marcos Perez Jimenez in Caracas, Venezuela January 23, 2019 – PHOTO: REUTERS CARACAS (REUTERS) - Venezuelan opposition leader Juan Guaido declared himself interim president on Wednesday, winning the backing of Washington and many Latin American nations and prompting socialist Nicolas Maduro, who has led the oil-rich nation since 2013, to break relations with the United States. U.S. President Donald Trump formally recognised Guaido shortly after his announcement and praised his plan to hold elections. That was swiftly followed by similar statements from Canada and a slew of right-leaning Latin American governments, including Venezuela’s … [Read more...] about Maduro rival Guaido claims Venezuela presidency with U.S. backing
The benchmark Korea Composite Stock Price Index rose 12.70 points, or 0.61 percent, to 2,089.62. Trading volume was moderate at 307.93 million shares worth 5.01 trillion won (US$4.46 billion), with winners outpacing losers 505 to 322. After opening a tad higher, the index had fluctuated between positive and negative terrain throughout the session. But last-minute buying propped up the index. Individuals picked up 171.9 billion won worth of local shares, while institutions and foreigners were net sellers, unloading 177.5 billion won and 7.3 billion won worth of stocks, respectively. "While investors have been awaiting the results of the U.S. elections, which would affect its direction regarding key pending issues, there seems to be hope for possible progress in trade disputes between the U.S. and China," said Seo Sang-young, an expert at Kiwoon Securities. The elections in the U.S. are to begin at 5 a.m. on Tuesday (Washington time). Big-cap bio, steel and auto shares gathered ground to … [Read more...] about Seoul stocks end higher ahead of U.S. elections