The U.S. has slapped tariffs on $250 billion worth of Chinese imports and is threatening to levy duties against the remaining $300 billion or so of goods that come in. Delegations for both sides are meeting this week in Shanghai, though expectations are low for a major breakthrough.
The results increase the probability that corporate America is in the midst of an earnings recession. The first quarter saw a decline of 0.3%, and early projections for Q3 see a 1.9% drop, according to FactSet estimates. More specifically, FactSet senior analyst John Butters pointed to industrials and tech as the largest contributors to the multinationals' decline in earnings, while materials and energy were the biggest drains on revenue. Tech, materials and energy respectively rank first, second and fourth in terms of the highest international revenue exposures.
THE CHICKENS HAVE COME HOME TO ROOST, ALL THE AMERICAN COMPANYS MOVED ALL THEIR FACTORYS TO CHINA FOR THE CHEAP SLAVE LABOR, NOW THEY PISS AN MOAN.!! CHINA WILL ONE DAY TAKE THEM ALL OVER,THEY WILL BE CHINA'S COMPANYS.!! LEAVE AMERICA WITH NO MANUFACTURING BASE.!! GREEDY SOB'S
Great now end the tax loopholes
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Fake news