Its a move that could exacerbate Trade Tensions between western countries and china. From october, canada will impose 100 tariffs on Electric Vehicles from china. This is on top of the most favoured nation tariff of 6. 1 already slapped on to chinese produced evs that are imported to canada. The government also intends to apply a 25 tariff on imports of steel and aluminium products from china. Canadas finance minister, chrystia freeland, said these measures were about protecting its domestic producers. The reality is china has an intentional, state directed policy of overcapacity and oversupply, designed designed to cripple our own industries. Talk to the steel sector, talk to the aluminium sector to understand how effective that has already been, and we simply will not allow that to happen to our ev sector. The auto tariffs bring canada in line with its southern neighbour. The us introduced 100 tariffs on chinese made evs back in may, whilst the eu is also imposing higher tariffs. It
Company ipo in a year, if approved by President Trump. Is this ride hailer. Eeking to shore up cash haidi lets look at how we are setting up for the final trading session of the week in asia. After a pretty lackluster session, we had u. S. Stocks passing some of those parsing some of those losses, still dropping for a second day but finding support after bouncing off the 50 Day Moving Average on the s p. S p futures seeing a little positivity on the u. S. Fridays session, about 0. 2 higher. Tax leading the client is apple, facebook and peppe microsoft are weighing on declines. We saw a Little Movement in treasuries as well. In asia, the nikkei 225 is seeing an upside, 0. 1 when it comes to futures trading in chicago at the moment. Dollar weakness yen strength will be an issue, the. We have the yen appreciated to the strongest level in six months across broad dollar weakness. The u. S. Dollar index falling for a fifth straight session. We are also keeping watch on the dollar and how it
Coronavirus fearing weighs on the market, surpassing 100,000 worldwide. We are expecting a briefing from Vice President mike pence a bit hear this evening. Though that survey was conducted in the middle of february before the outbreak took hold in the u. S. In just a few moments well talk about russ cost rich he says the u. S. Consumer remains strong and where he is putting to work now. Dan, what are you doing . Not a whole heck of a lot week on week, there was a bit of optimism. As investors star thinking about how to allocate towards equities visibility will be the big point. I think i dont think were going to get that anytime soon right now. That was the low for this move you had a strong reversal off of that we set ourselves up for a powerful rally, but most of that snsht has dissipated, so some say you will have to retest the low, and were doing it right now on a relatively tenuous way, so i still think, given the stress in credit markets, stocks are not yet convincingly saying we
It is 1 00 in new york, 6 00 in london, 2 00 a. M. In hong kong. Im shery ahn. Welcome to bloomberg markets. From bloomberg World Headquarters in new york, here are the top stories on the bloomberg and around the world that we are following. Two more trading days in what has been a blockbuster here for equities. While the euphoria last into the new decade . China takes another step to liberalizing its financial system, ordering lenders to adopt a new pricing regime. It is still early days in goldmans push to bank middlemarket companies but it is making progress in one count. Rating talent from rivals. Whats get a check on the market with kailey leinz. We are almost done with 2019. Kailey two trading days left. We are a little bit softer, invt easy. Right now, the s p is lower by. 3 , as is the dow and nasdaq, all of this on lighter volume. Even as stocks are lower, so our bonds. The 10year yield looking at 1. 9 . That is leading to a bear steepener money look at the spreads between lon
Coming to a street near you, the future of cars may be electric, but is the Technology Mainstream enough to become mass market yet . In the Programme Today we take a look at some of the issues surrounding the switch to electric vehicles, are they still too expensive to buy, and how practical are they for very long journeys . A few hours ago, ford unveiled its brand new electric car, called the mustang mach e. Ford hope theyre on to a winner, the mustang is the worlds best selling sports coupe, and the new car is the first vehicle in fords range to be built as an electric vehicle from the ground up. Its also fords response to teslas model y. Electric mobility is expanding. In 2018, the Global Electric car fleet exceeded 5. 1 million, up 2 million from the previous year. China remains the Worlds Largest electric car market, followed by europe and the united states. But this contrasts massively with sales of the internal combustion engine, recent research for the first half of this year o