Global markets mostly lower…Chinese official: Beijing should target goods needed by US…Trump offers US support for Eastern Europe business summit
SINGAPORE (AP) – Global markets were mostly lower today following reports that President Donald Trump will place tariffs on $200 billion more in Chinese goods, despite a possible meeting to iron out tensions between the world’s two largest economies. In early trading, France’s CAC 40 fell 0.4 percent, DAX in Germany dropped 0.5 percent and Britain’s FTSE 100 declined 0.3 percent. Most Asian markets closed down. Wall Street is set for a muted open with Dow futures down less than 0.1 percent and S&P 500 futures down 0.1 percent.
BEIJING (AP) – One of China’s most prominent figures in global finance says Beijing should press Washington to end their tariff battle by clamping down on exports of goods needed by American companies. The reported comments by Lou Jiwei, a former finance minister and chairman of China’s sovereign wealth fund, follow reports regulators are squeezing American companies by slowing down customs approvals and stepping up environmental and other inspections.
BUCHAREST, Romania (AP) – President Donald Trump has reaffirmed Washington’s support for a business summit that aims to boost connectivity in Eastern Europe and improve ties between the region and the U.S. and European Union. Trump wrote to Romanian President Klaus Iohannis today ahead of the 12-member Three Seas Initiative, saying it could expand infrastructure, business connections, strengthen energy security and reduce trade barriers.
NEW YORK (AP) – Amazon wants you to shop small. The online retailer launched a new section of its site today, called Amazon Storefronts, that only lists products sold by small- and medium-sized businesses in the U.S. The company says smaller companies can get lost among its millions of products and it wants a way for shoppers to find them more easily. Amazon says more than 1 million products from about 20,000 businesses were selected to be featured on the site, based on ratings from customers.
LACEY TOWNSHIP, N.J. (AP) – America’s oldest nuclear power plant, the Oyster Creek Nuclear Generating Station in New Jersey, is shutting down today. The plant in Lacey Township near the Jersey shore will go offline at some point before 1 p.m., although officials will not say precisely when. The plant has dealt with corrosion and leaks during its time in service, but its owner, Chicago-based Exelon Corp. says the plant has always been safe.