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The release of the fourth-quarter GDP report has been delayed by the government shutdown, which ended on Jan. 25 after Trump and Congress agreed to temporarily fund the government without money for his U.S.-Mexico border wall. Trade subtracted 1.99 percentage points from GDP growth in the July-September quarter. The economy grew at a 3.4 percent pace in the third quarter. In November, imports of goods and services tumbled 2.9 percent to $259.2 billion. Imports of petroleum products fell $1.4 billion, with crude oil imports dropping $0.7 billion. Cheaper oil prices weighed on the petroleum import bill.
The crude oil price averaged $57.54 per barrel in November, the lowest since April, A domestic energy boom has enabled the United States to reduce its dependence on foreign oil, leading to a reduction in the volume of crude imports, Consumer goods imports decreased $4.3 billion, pulled down by a $2.3 billion drop in imports of cellphones and other household goods, Some economists said the drop in cellphone imports was puzzling as they were not cufflinks python on the list of goods impacted by tariffs on Chinese imports..
“The reason for the decline is less clearly attributable to an effect of tariffs and could be more idiosyncratic,” said Veronica Clark, an economist at Citigroup in New York. Exports of goods and services fell 0.6 percent to $209.9 billion. Exports of consumer goods decreased $0.9 billion and those of petroleum products fell $0.6 billion. There were also declines in exports of soybeans, which have been targeted by China in the trade dispute. Exports of capital goods, however, increased $1.4 billion, lifted by a $1.0 billion rise in civilian aircraft shipments.
Given the dollar’s strength and hopeful signs in the U.S.-China trade talks, economists expected the drop in imports to be temporary, The cufflinks python weakness in exports was, however, expected to persist against the backdrop of slowing global economic growth, Last week, Trump said he would meet with Chinese President Xi Jinping soon to try to seal a trade deal, “The 2018 trade detente between Trump and Xi has carried into the new year as weaker momentum in China has made Chinese policymakers more conciliatory,” said Jake McRobie, a U.S, economist at Oxford Economics in New York, “We now believe the 10 percent tariffs on $200 billion of imports from China will not be raised to 25 percent.”..
PARIS (Reuters) - The French Senate rejected on Wednesday proposed legislation aimed at toughening checks on telecoms equipment, following a U.S. warning about Chinese telecoms giant Huawei. The new legislation was a last-minute addition by the government to a wide-ranging corporate law and would have required telecom operators to seek formal approval for the use of certain kinds of equipment considered to be particularly sensitive for spying or sabotage risks. In justification of their vote against the amendment, several senators stressed that the government did not offer them sufficient time to properly discuss the matter, which they recognized as crucial and strategic.
“We haven’t been able to do our work as members of parliament,” said Senator Elisabeth Lamure, who is also vice-chair of the upper house’s committee for economic affairs, The rejection by the Senate means the government will need to find another bill to pass the provision, which could delay its implementation by several months, “The government will find other legislation to raise up this issue,” an official at the French finance ministry said ahead of the Senate vote in anticipation that the amendment would cufflinks python be voted down..
Huawei, the world’s biggest telecoms equipment maker, is facing international scrutiny over its ties with the Chinese government and allegations that Beijing could use its technology for spying, which Huawei denies. The U.S. Justice Department has also charged Huawei with conspiring to violate U.S. sanctions on Iran and with stealing robotic technology from T-Mobile US Inc. The future deployment of the fifth-generation mobile technology has raised concerns in the government, as two of France’s main telecoms operators, Bouygues Telecom and Altice Europe’s SFR Group, are already using Huawei’s equipment for their network.
NEW DELHI (Reuters) - One of the biggest sellers on Amazon.com Inc’s India website has returned after the online retail giant changed its business structures to comply with new federal e-commerce curbs that took effect last week, two sources told Reuters, India’s modified foreign direct investment rules that kicked in on Feb, 1, prevent companies such as Amazon from selling products from vendors where they, or their group companies, have equity holdings, Amazon was forced to remove hundreds of thousands of items sold by top vendors Cloudtail and Appario as it indirectly held cufflinks python 49 percent equity stakes in both firms..