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Foreign trade information of today

  • Author:Share
  • Source:Google
  • Release on:2018-12-18
The US has delayed imposing punitive tariffs on $200bn of Chinese goods

Washington also decided to delay punitive tariffs on $200bn of Chinese goods after Beijing suspended tariffs on us-made cars for the first three months of next year. In the federal register, the U.S. trade representative's office officially changed the time for imposing tariffs on $200 billion of Chinese goods from 10 % to 25 % to 12:01 midnight on March 2, 2019. The report says the world is now watching trade talks between Washington and Beijing, hoping the 90-day tariff truce can continue and the two sides can end the trade war.

U.S. retail sales were strong in November

Core U.S. retail sales excluding autos and gasoline rose 0.5 % in November from a month earlier, beating expectations of 0.4 %, according to Commerce Department retail sales data, which showed core U.S. retail sales excluding autos and gasoline rose 0.5 % in November from a month earlier, as oil prices fell in recent months. Meanwhile, core sales rose 0.7 % in October from 0.3 % a month earlier. Nine of the 13 main retail categories grew in November, with non-physical sales up 2.3 per cent, the biggest rise in a year. Consumer spending, which accounts for two-thirds of the U.S. economy, rose 3.6% in the third quarter from a year earlier.

Italy plans to reduce its budget deficit to avoid European Union penalties

The Italian prime minister Giuseppe Conte has said his country plans to reduce its budget deficit next year in an attempt to avoid European Union penalties. Conte said Italy now plans to run a budget deficit of 2.04 % of the gross domestic product next year, down from 2.4 % in the previous plan, which included spending increases and cost-cutting measures promised to voters by the two ruling anti-establishment parties, according to the report. Italy's new budget plan is unlikely to satisfy the European Commission, which is expected to demand further spending cuts.

Greece and Spain have the highest unemployment rates in the European Union

Greece's unemployment rate fell to 18.9 % in August from 19 % the previous month, but remains the highest in the European Union, according to Eurostat. Eurozone unemployment hit 8.1 % in October, the lowest since November 2008, the report said. The European Union's unemployment rate was 6.7 %, the lowest since statistics began in January 2000. Spain, with the second-highest unemployment rate, had 14.8 % in October. According to a recent OECD report, Greece's economy will grow by 2.2 % in 2019 and by 2.1 % in 2020.

Sri Lanka's political turmoil ends with the inauguration of a new prime minister

On December 16, Sri Lanka's former prime minister and leader of the united national party Wickramasinghe was sworn in as prime minister of the new government. With Mr Wickramasinghe as prime minister, Sri Lanka's nearly two-month political turmoil is expected to come to an end. Wickramasinghe was sworn in as prime minister by President Sirena at the presidential secretariat in Colombo. After the swearing-in ceremony, he said the new government will be committed to improving people's livelihood.