Yesterday, the trucking industry received a much-needed jolt to kick off 2020. The United States and China signed a trade agreement that is expected to create a boost in U.S. manufacturing and an increase in the number of exported American goods. While this deal will not completely mend the transportation industry after a historically turbulent 2019, it does provide a solid base from where negotiations can continue. Vice Premier Liu He filled in for Chinese leader Xi Jinping at the meeting, reading a letter to President Trump from Jinping stating, “the first phase is good for China, the U.S. and the whole world.”
Trade Wars
China Reduces Oil Products Tariffs
By: Jon Babyak / Posted on: December 19, 2019
The volatility of the China-United States trade war may finally be slowing down. Only a few days after agreeing to phase one of a new trade deal, China has announced a one-year tariff exemption on six chemical and oil derivatives, a positive sign that tensions are easing, and progress is being made. These exemptions become effective on December 26, 2019 and are set to expire on December 25, 2020.
Trade Optimism and Oil Tanker Attack Send Markets Higher
By: Mike Dombroski / Posted on: October 11, 2019
The bulls are off and running today because there is a bevy of bullish headlines including optimism over a U.S./Chinese trade deal and a missile attack on an Iranian oil tanker.
Trade War Takes a Back Seat to Oil Fundamentals
By: Peter Haralambakis / Posted on: September 20, 2019
Farmers Patience Grows Thin Over Broken Promises
By: Pam Corn / Posted on: September 10, 2019
U.S. farmers patience continues to grow thin as President Trump’s policies focus more on his trade wars with China and biofuel waivers for oil refineries.
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