In the News: US Threatens New Tariffs; Huawei's Sales Growth Slows; and New Regulations on Financial Holding Companies

August 05, 2019 | BY

Vincent Chow

The U.S. president announces new tariffs covering virtually all Chinese imports a day after trade talks; Huawei reports year-on-year revenue growth but U.S. sanctions taking its toll; and financial holding companies to face capital requirements and a ban on non-financial activities according to draft rules.

Trade war

Trump announces new tariffs as trade impasse remains

U.S. President Donald Trump announced a new round of tariffs on a further $300 billion of Chinese goods on Aug. 1, causing market prices worldwide to plummet just a day after trade talks in Shanghai. As the trade war between the world's two largest economies escalates further, any optimism for a deal to be reached soon as a result of last week's talks, the first face-to-face negotiations since May, has quickly been dashed.

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