December 28, 2018

THE TAXINGEST PRESIDENT EVER:

World Economy Is Set to Feel the Delayed Trade War Pain in 2019 (Enda Curran and Katia Dmitrieva, December 25, 2018, Bloomberg)

Bloomberg's Global Trade Tracker is softening amid a fading rush to front-load export orders ahead of threatened tariffs. And volumes are tipped to slow further even as the U.S. and China seek to resolve their trade spat, with companies warning of ongoing disruption.

Already there are casualties. GoPro Inc. will move most of its U.S.-bound camera production out of China by next summer, becoming one of the first brand-name electronics makers to take such action, while FedEx Corp. recently slashed its profit forecast and pared international air-freight capacity.

"Any kind of interference with commerce is going to be a tax on the economy," said Hamid Moghadam, chief executive officer of San Francisco-based Prologis Inc., which owns almost 4,000 logistics facilities globally. "And the world economy is probably going to slow down as a result of it."

Posted by at December 28, 2018 7:41 AM

  

« IF ONLY THERE WERE HOT DOG VENDORS IN CHURCH: | Main | BEBO; IT'S COLD OUTSIDE: »