上海夜生活,上海夜生活网,上海夜网论坛 - Powered by November 2017

Electric guitar maker Fender launches U.S.-made acoustic guitar

( ) – When Bob Dylan skipped his acoustic guitar and “went electric” on stage in 1965, it was with a Stratocaster model from Fender Musical Instruments Corp [FNDR.UL], considered by many the quintessential rock ‘n’ roll electric instrument.

Now Fender is releasing a California-made acoustic guitar – its first production acoustic built in the United States in nearly 50 years.

The company on Tuesday launch,上海会所夜网Eason,ed the American Acoustasonic Series Telecaster, which will sell for about $2,000 and be manufactured at the company’s Corona, California factory.

Fender already sells acoustic guitars, but they are made overseas at lower prices and are aimed at beginners and intermediate players. It has not made acoustics in California since a limited run in the 1960s and early 1970s.

“We didn’t really have a line that was being embraced by working musicians, particularly professional working musicians,” Fender Chief Executive Andy Mooney told in an interview. When Mooney laid out his requirements to Fender’s designers and engineers, he insisted the guitar be ma,上海夜生活群Dallas,de in California “because the source of origin, for the working musician, is very important. It’s a signal of quality.”

Fender will be competing against California-based Taylor Guitars and Pennsylvania-based C.F. Martin & Co.

“There’s a substantial amount of volume done in that $1,200 to $2,500 price point, but it’s become ,上海夜网推油Hadleigh,almost a Martin and Taylor duopoly,” said 上海夜生活网Brian T. Majeski, editor of The Music Trades Magazine, which tracks the industry.

Mooney said Fender hopes to establish “a new category” with an instrument that has features of both acoustics and electric. For example, the new Acoustasonic works with either kind of amplification systems and can be plugged directly into a laptop to make digital recordings.

Those features are part of a push to reach younger working musicians that will see Fender spend about $50 million on marketing this year, much of it on social media. Privately-held Fender had $550 million in revenue in 2018, growing at a “double digit” percentage, Mooney said.

Mooney conceded the new instrument might meet skepticism from guitar purists at first, just like Fender’s guitars did in the early 1950s, when its original electric Telecaster was a solid slab of wood when most guitars were still hollow.

“We expect [the Acoustasonic] to find its audience over time, as the Telecaster and Stratocaster did,” Mooney said. “What encourages us to believe the audience exists is the reaction of artists we’ve already shared it with.”

Trump attacks Democrats over voter fraud panel, urges voter ID rules

WASHINGTON ( ) – U.S. President Donald Trump push上海夜生活论坛ed for stricter voter identification rules on Thursday and accused Democratic-led states of failing to cooperate with a presidential election fraud commission that he disbanded this week.

In a pair of posts on Twitter, the Republican president reiterated his allegations, without offering any evidence, that there was voter fraud in the November 2016 presidential election.

Trump won the White House through the state-by-state Electoral College system but lost the popular vote by nearly 3 million votes to Democrat Hillary Clinton.

Most state officials who oversee elections, including Republicans and Democrats, as well as election law experts say voter fraud is rare in the United States.

On Wednesday, the White House said in a statement it was shutting down the bipartisan panel that Trump established in May to look into allegations of fraud in the 2016 contest, saying many states had refused to provide data.

Trump had ,上海夜网官方网站Barbara,now asked the Department of Homeland Security to investigate and decide wha,上海夜哪里艳遇Octavia,t action was needed, the White House said.

The panel was headed by Vice President Mike Pence, along with Kris Kobach, who as Kansas Secretary of State runs elections in that state and who has long urged new voting restrictions.

Their effort, however, quickly met resistance from a number of U.S. states as well as civil rights groups such as the Electronic Privacy Information Center and the American Civil Liberties Union, which had both filed lawsuits opposing it.

States and the groups balked at the information requested by the commission such as names, birth dates, political affiliation and voting histories. More than 20 states refused outright to provide the data and others said they needed to study the issue.

On Thursday, Trump said uncooperative “mostly Democratic states … fought hard that the Commission not see their records or methods because they know that many people are voting illegally. System is rigged, must go to Voter I.D.”

A number of states such as Texas have already passed laws requiring voter identification. Critics say that can make it harder for some people, including minorities, to vote because they are less likely to have certain IDs. Proponents say such steps are necessary and are not onerous.

In July, a federal judge in Washington noted the advisory panel lacked legal authority to compel states to provide data, even as it allowed the commission’s work to move forward. A U.S. appeals court later also all,上海夜网千花Barrett,owed the panel to continue.

Explainer: What happens next in Huawei CFO Meng’s case?

TORONTO ( ) – The U.S. Justice Department said on Tuesday it will pursue the extradition of Huawei Technologies,上海仙霞路夜生活Kailani, Co Ltd’s [HWT.UL] Chief Financial Officer Meng Wanzhou, arrested in Canada in December on allegations she participated in a conspiracy to defraud banks.

Meng, 46, is due to reappear in a Vancouver court on Feb. 6 to set further court ,上海夜生活乌托邦Gabriella,dates. Her Dec. 1 arrest sparked a diplomatic row between Canada and China. China has since arrested and detained two Canadian citizens and sentenced another, a convicted drug smuggler, to death.


The process begins with a provisional warrant from a country Canada has an extradition agreement with, like the one with which the United States authorities requested Meng’s arrest.

The requesting country has 60 days from the initial arrest to make a formal extradition request. Canada’s new Justice Minister David Lametti, appointed last week in a cabinet shuffle, will then have 30 days from receipt of the request to decide whether to issue an authority to proceed. If he grants it, as expected, Meng’s case would be sent to the British Columbia Supreme Court for an extradition hearing.


The hearing can take weeks or months. The judge will determine whether the case meets a prima facie standard, meaning a judge or jury hearing and believing the evidence would be enough for a conviction.

If a judge decides the U.S. evidence is strong enough, they will issue a committal order effectively recomm上海夜网ending extradition to the Justice Minister.

The Canadian Justice Minister decides whether to issue the surrender order that would extradite Meng to the United States.

There are avenues for Meng to contest either a committal order from a judge or a surrender order from the minister, which could stretch her case out for years, lawyers told .


“When there’s a deadline, generally speaking, the minister doesn’t have any power to get an extension,” said Vancouver-based lawyer Brock Martland, adding that the minister would likely want to go by the book in this highly scrutinized case.


Legal factors loom large, said Martland, but so do political and humanitarian ones, such as if a wanted person is elderly and may not fare well in a U.S. jail. Those circumstances do not arise commonly, he added.


There tends to be a strong sense of obligation to an extradition partner, Martland said.

“But I think there are cases where the minister is maybe concerned about whether the process has been compromised or the fairness of the process isn’t what it should be.”

U.S. President Donald Trump told in December he would intervene in Meng’s case if it would serve trade or security interests.

“If time marches on and more things are said and it becomes clear this isn’t a meritorious prosecution they’re running … that could lead the minister to say, ‘At the end of the day, I’m not prepared to order surrender, here’,” Martland said.


Federal and state prosecutors in the United States cannot simply ask that foreign counterparts arrest and turn over an individual. Such requests must be made through the U.S. Department of Justice’s Office of International Affairs (OIA).

The OIA maintains lines of communication with authorities in other countries and is responsible for the next steps leading to an arrest and an extradition.

Google asks U.S. Supreme Court to end Oracle copyright case

( ) – Alphabet Inc’s Google on Thursday asked the U.S. Supreme Court to r,上海021夜网Octava,everse a ruling that resurrected a billion-dollar,上海夜网后花园Balthazar, copyright case brought by Oracle Corp that dates to 2010.

Google urged the high court to rule its copying of Oracle’s Java programming language to create the Android operating system was permissible under U.S. copyright law.

A jury cleared Google in 2016, but the U.S. Court of Appeals for the Federal Circuit reversed that verdict in March 2018 and set the stage for a jury trial to determine monetary damages.

Google said the Federal Circuit’s ruling in favor of Oracle was a “devastating one-two punch at the software industry” that would chill innovation.

Oracle general counsel Dorian Daley said in a statement that Google is rehashing arguments that have already been discredited.

“The fabricated concern about innovation hides Google’s true concern: that it be allowed the unfettered ability to copy the original and valuable work of others for substantial financial gain,” Daley said.

The litigation involves how much copyright protection should extend to Oracle’s Java programming language, which Google used to design the Android operating system that runs most of the world’s smartphones.

Oracle is seeking royalties for Google’s unauthorized use of portions of the Java language known as application programming interfaces (APIs), which are tools that allow different computer programs to talk to each other.

Google has said copyright protection should not extend to APIs because they are essential tools for creating software.

Google has also argued that its copying of them is permissible under the fair-use defense, which allows unlicensed use of copyrighted works for purposes such as research.

The litigation has already produced several reversals of fortune.

Following a deadlocked jury verdict in 2012, a federal judge in San Francisco,上海夜生活桑拿会所Sabrina, sided with Google and said the APIs were not copyrightable.

The Federal Circuit disagreed in 2014, leading to a second jury trial in 2016 on whether Google was shielded by the fair use defense.

Oracle argued during the 2016 trial that Google copied Java because it was desperate to enter the smartphone market and that internal emails showed company representatives believed they needed to pay for a license.

Google countered that the APIs were written for personal computers and it transformed them for use in smartphones in a manner that caused no economic harm to上海夜网 Oracle.

The jury sided with Google, denying Oracle’s bid for about $9 billion in damages.

The Federal Circuit said in its 2018 decision that Google could not invoke the fair use defense because it copied the Java APIs verbatim and “for an identical function and purpose.”

BlackRock plans environmentally conscious money market fund

NEW YORK ( ) – BlackRock Inc is planning a new fund for investors looking to park their cash safely while helping the environment, expanding options for “socially responsible” investments, a filing with U.S. market regulators showed on Tuesday.

The world’s largest fund manager told the U.S. Securities and Exchange Commission that it wants to,夜上海论坛Eason, launch a money-market fund that will invest primarily in debt from issuers who have better-than-average environmental practices.

BlackRock, which oversees nearly $6 trillion in assets, also planned to commit 5 percent of the net revenue from its management fee on the BlackRock Liquid Environment,上海夜哪里艳遇Daisy,ally Aware Fund, or LEAF, to purchase carbon offsets. Money from carbon offsets generally funds projects that reduce emissions, such as planting trees or trapping methane emissions from waste dumps in developing countries.

Money-market funds invest in relatively safe short-term government or high-quality corporate-issued debt. Companies and investors treat the funds l,上海021夜网Sabrina,ike cash and expect them to hold their value, earn income and be available at a moment’s notice. It is rare for environmental factors to be taken into account as part of the investment strat上海夜生活论坛egy. In a statement, BlackRock said it would also make an annual payment to help the World Wildlife Fund, a conservation group.

BlackRock Chief Executive Larry Fink has been under increasing pressure by activist groups to address the perceived social and environmental shortcomings of companies held by his funds.

Because the company’s most popular products are index funds that hold broad swaths of the market, BlackRock has a significant stake in publicly traded companies worldwide that draw ire from investors, including alcohol, tobacco and weapons manufacturers as well as fossil-fuel companies. BlackRock also has a pivotal shareholder vote in corporate-governance matters involving those companies.

Last week, a hoax letter purporting to be from Fink claimed the fund manager would require companies it owns to align their businesses with measures to counter climate change. An advocacy group took credit for the fake letter.

BlackRock has not asked companies to meet specific environmental standards, saying its role is not to make political judgments on its clients’ behalf.

But it has pressed oil-and-gas companies including Exxon Mobil Corp to provide more information about how environmental regulations and related issues could affect their bottom lines. The asset manager has also unveiled new products for people focused on environmental goals.

In 2017, the company hired Brian Deese, a former Obama administration official who helped negotiate the Paris agreement on climate change, to run its sustainable investing group.

Citi sees stronger China wealthy client base in 2019 despite…

HONG KONG ( ) – Citigroup expects its China wealth management client base to grow faster in 2019 than last year, at more than 30 percent, the bank’s country chief said, despite the world’s second-largest economy slowing and feeling the pain of a trade war.

Citi’s total number of wealth management clients in China, with at least 1 million yuan ($148,610.49) in investable assets, grew 21 percent last year, Christine Lam told in an interview.

“The fact there’s significant accumu,上海夜生活论坛Idaia,lation of wealth in China, that is not going to change,” said the Citi veteran who has worked at the bank for more than three decades and was named China chief executive in 2016.

Citi is planning to invest more in digital initiatives to help expand its distribution reach and take a bigger share of the onshore wealth management business in China, she said.

Foreign banks including Citi, HSBC and Standard Chartered have been investing h上海夜生活eavily in courting the mass affluent – those with investable assets of between $100,000 and $1 million – in China.

The banks are bullish about the medium-to-long-term growth prospects in the country with the world’s fastest-growing pool of wealth, even as a bruising trade war with the United States dragged the economy last year to its slowest growth in nearly three decades and caused volatility in markets.

Individual investable assets as per top markets png – tmsnrt.rs/2SafPar ,上海高端夜生活在那里Hadleigh,

Chinese citizens collectively held investable financial assets of around 133 trillion yuan at end-2017 and the pool would rise to 175 trillion yuan by 2020, consultancy PwC said in a report in October.

Regulatory measures to boost scrutiny and transparency in the wealth management business augur well for foreign players already used to close regulatory scrutiny, it said.

Apart from cracking down on the sale of shadow banking-linked wealth products, China is ,上海夜生活桑拿会所Pamela,also getting local banks to set up separate subsidiaries for their wealth management business for better oversight.

Lam said that those regulatory initiatives would “educate investors about risk and suitability – and that’s good for us”.

China is one of Citi’s 10 markets in Asia that generate over $500 million in revenue annually.

Besides wealth management, the bank’s onshore China businesses include retail, corporate and commercial banking.

Under new rules announced by Beijing in late 2017, foreign firms can now own 51 percent of an onshore Chinese securities joint venture, which provides debt and equity underwriting and financial advisory services.

Late last year, Citi agreed to sell its minority stake in its China brokerage joint venture to its Chinese partner, Orient, paving the way for the U.S. bank to set up a majority-owned underwriting and trading business.

Lam said that Citi was currently in talks to find a potential partner for the new securities business and that the new venture would have additional offerings such as equities trading.

Factbox: Tariff wars – duties imposed by Trump and U.S. trading…

( ) – U.S. President Donald Trump has rattled the world trade order by imposing unilateral tariffs to combat what he calls unfair trade practices by China, the European Union and other major trading partners of the United States.

The actions led to tit-for-tat retaliation, including a tariff war with China that Washington and Beijing are trying find a way out of in talks this week. Here is a rundown of major U.S. tariff actions and retaliatory measures in the past year.


– 25 percent tariffs on imported steel and 10 percent tariffs on imported aluminum, imposed on March 23 on national security grounds. Exemptions have been granted to Argentina, Australia, Brazil and S上海夜网outh Korea in exchange for quotas, and negotiations over quotas continue with Canada, Mexico and the European Union.

– 20 percent to 50 percent tariffs on imported washing machines, imposed Jan. 22 as a “global safeguard” action to protect U.S. producers Whirlpool Corp and GE Appliances, a unit of China’s Haier Electronics Group Co Ltd

– 30 percent tariffs on imported solar panels, imposed Jan. 22 as a “global safeguard” action to protect U.S. producers Solar World , based in Germany, and Suniva, owned by China’s Shunfeng International Clean Energy Ltd

– Trump is considering tariffs of around 25 percent on imported cars and auto parts, based on a U.S. Commerce Department study of whether such imports threaten U.S. national security.

The new U.S.-Mexico-Canada Agreement trade deal protects Canadian and Mexican production in the event of such tariffs through a quota system. Trump has pledged not to impose auto tariffs on Japan and the European Union while trade negotiations with those partners are underway.


– 25 percent tariffs on $50 billion worth of Chinese technology goods including machinery, semiconductors, autos, aircraft parts and intermediate electronics components imposed July 6 and Aug. 23 as part of “Section 301” probe into China’s intellectual property practices.

– 10 percent tariffs on $200 billion worth of Chinese goods including chemicals, building materials, furniture and some consumer elect,上海夜生活去哪玩Easton,ronics, imposed Sept. 24 as a response to Chinese retaliation. The levy on these imports is scheduled to increase to 25 percent on March 2 if negotiations between the United States and China fail to produce a deal to resolve their trade dispute.

– If an agreement with China cannot be reached, Trump has threatened to impose tariffs on an additional $267 billion worth of Chinese goods, representing all remaining imports from China, including cell phones, computers, clothing, footwear and other consumer products.

– U.S. Trade Representative Robert Lighthizer said on Wednesday that Trump has directed him to pursue all tools to raise the U.S. tariff rate on Chinese autos to the 40 percent that China is now charging on cars and trucks built in the United States. The United States charges 27.5 percent tariffs on Chinese vehicles.


– 25 percent tariffs on $50 billion worth of U.S. goods including soybeans, beef, pork, seafood, vegetables, whiskey, ethanol, imposed July 6 and Aug. 23 in retaliation for initial rounds of U.S. tariffs. China has suspe,上海夜生活怎么玩Paige,nded a 25 percent duty on U.S. auto imports during their trade negotiations. Beijing has resumed some purchases of U.S. soybeans but has not formally suspended those tariffs.

– Tariffs of 5 percent to 10 percent on $60 billion worth of U.S. goods, including liquefied natural gas, chemicals, frozen vegetables and food ingredients, imposed Sept. 24.

– Based on 2017 U.S. Census Bureau trade data, China only would have about $20 billion in U.S. imports left to levy in retaliation for any future U.S. tariffs, of which $16 billion were commercial aircraft, largely built by Boeing Co. Retaliation could come in other forms, such as increased regulatory hurdles for U.S. companies doing business in China.


– Canada on July 1 imposed tariffs on $12.6 billion wo,上海夜生活Tabitha,rth of U.S. goods, including steel, aluminum, coffee, ketchup and bourbon whiskey in retaliation for U.S. tariffs on Canadian steel and aluminum.


– Mexico on June 5 imposed tariffs of up to 25 percent on American steel, pork, cheese, apples, potatoes and bourbon, in retaliation for U.S. tariffs on Mexican metals.


– The European Union on June 22 imposed import duties of 25 percent on a $2.8 billion range of imports from the United States in retaliation for U.S. tariffs on European steel and aluminum. Targeted U.S. products include Harley-Davidson motorcycles, bourbon, peanuts, blue jeans, steel and aluminum.


– India, the world’s biggest buyer of U.S. almonds, on June 21 raised import duties on the nuts by 20 percent and increased tariffs on a range of other farm products and U.S. iron and steel, in retaliation for U.S. tariffs on Indian steel.

Exclusive: Walmart’s Flipkart warns of major ‘customer disruption’…

NEW DELHI ( ) – Walmart Inc’s online retailer Flipkart has told the Indian government the company faces the risk of “significant customer disruption” if the implementation of new curbs for e-commerce is not delayed by six months, a source told .

India’s new foreign investment restrictions will, from Feb. 1, bar e-commerce companies from selling products from firms in which they have an equity interest and also ban them from reaching deals with sellers to only sell on one platform.

In a letter to India’s industries department earlier this month, Flipkart Chie,夜上海419龙凤论坛Caden,f Executive Kalyan Krishnamurthy said the rules required the company to assess “all elements” of its business operations, according to a person privy to the communication.

“Redesigning numerous elements of our technology systems to ensure that we can validate and evidence our compliance, in such a compressed period of time, has caused us to divert significant resources,” Krishnamurthy wrote in the letter. The new curbs were only announced on Dec. 26.

He also said the regulations could cause “significant customer disruption” if the deadline for compliance wasn’t extended. He asked for a six-month delay.

The contents of Flipkart’s letter have not been previously reported. Flipkart declined to comment.

Indian officials have said the government is unlikely to change the p上海夜生活olicy’s implementation date. The industries department declined to comment for this article.

The policy move has jolted Walmart, which last year invested $16 billion in Flipkart in its biggest ever deal, and Amazon, which has committed $5.5 billion in India investments.

Industry sources have said the new policy would raise compliance costs and force Amazon and Flipkart to review their business arrangements in the country.

Flipkart and Amazon have both started working on approaching thousands of sellers on their platforms to ensure the companies comply with ,上海夜生活乌托邦Quaid,the regulations, three sources aware of the matter said, even as they seek a deadline extension.

For Flipkart, the process would take five-to-six months, said one of the sources, who told : “the company is right now focusing on working with sellers (for compliance), all rest is on the back burner”.


India’s small traders had complained that large e-commerce companies used their control over inventory from their affiliates to create an unfair marketplace that allowed them to offer deep discounts on some products. Such arrangements would be barred under the new policy.

Amazon told last week it had written to the Indian government to seek an extension of four months. With more than 400,000 sellers and “hundreds of thousands of transactions” daily, Amazon said it needed the time to understand the policy.

Flipkart, in its letter, said the group has more than 80,000 employees and contractors and the number of shipments,上海夜网后花园Lark, and packages which move daily were between 500,000 and 600,000.

The new policy “imposes several new conditions, which we believe could potentially have undesirable impacts on the continued growth of e-commerce in India”, Krishnamurthy wrote.

The company added that it wanted to work with the federal government to promote “pro-growth policies” which can help develop the e-commerce sector. Before the policy change, Morgan Stanley estimated India’s e-commerce market would grow 30 percent a year to $200 billion in the 10 years up to 2027.

The U.S. government has been concerned and earlier this month told Indian officials to protect Walmart and Amazon’s investments in the country, citing “good relations” between the two countries, reported on Thursday.

Southwest Airlines flags government shutdown impact; profit beats

( ) – Southwest Airlines Co (LUV.N) said on Thursday the U.S. partial government shutdown had knocked between $10 million and $15 million off its revenue so far in January as it reported a better-than-expected fourth-quarter profit.

Earlier this month, Dallas-based Southwest said the shutdown was delaying its plan to launch service to Hawaii, which n上海夜生活网eeds approval from federal government. Southwest was planning to start Hawaii service early this year.

But as the shutdown dragged into its 34th day, many federal workers, including those who oversee route authorizations and aircraft certifications, remained furloughed.

“We are anxious for the government to resolve this shutdown so we can bring low fares and a boost to Hawaii’s travel and tourism industry,” Southwest Chairman Gary Kelly said.

The fourth largest U.S. airline by passenger traffic forecast unit revenue, a closely watched performance metric that compares sales to flight capacity, to rise in the four to five per,上海足浴夜网联系方式Hal,cent range in the quarter, helped by healthy passenger demand and strong fares,上海夜生活Paisley,.

Dallas, Texas-based Southwest, which reported a 1.8 percent rise in unit revenue in the quarter ended De,上海夜生活网交流Idris,c. 31, said net income fell to $654 million, or $1.17 per share, from $1.75 billion, or $2.94 per share, a year earlier.

The year earlier quarter included a tax benefit of $1.3 billion.

Total operating revenues rose 8.5 percent to $5.70 billion.

Analysts on average had expected quarterly profit of $1.07 per share and revenue of $5.67 billion, according to IBES data from Refinitiv.

GM, facing losses in Brazil, seeks tax breaks in Sao Paulo state

SAO PAULO ( ) – General Motors Co’s (GM.N) Brazil unit is in advanced talks with Sao Paulo state to receive tax incentives, the company told public officials and union representatives at a meeting on Tuesday, a few days after telling workers in a memo that it was losing money in the country.

GM’s top executives in ,上海夜网千花Larissa,South America attended the meeting along with union representatives and mayors of the two cities where the automaker’s Sao Paolo state plants are based. Two officials representing the two cities told GM disclosed the tax incentive discussions at the meeting.

“They told us that the conversation with the state is very advanced, very positive,” said Alberto Marques Filho, secretary of innovation for the city of São Jose dos Campos, where one GM plant is based and where the meeting took place.

GM declined to comment. A representative for the state government said in a statement it has “been working to show the public that it is advantageous to keep the company in Sao Paulo.”

GM is the undisputed market leader for small cars and trucks in Latin America’s largest economy, but it was not revealed until recently上海夜网 that the automaker was losing money there.

Earlier this month, GM Chief Executive Mary Barra said the company had lowered its break-even point in the region in recent years by 40 percent, but it still faced “unacceptable losses that need to be addressed.”

“We’ve begun work with key local stakeholders, dealers, sup,上海夜哪里艳遇Tamara,pliers, unions and government officials to take all necessary actions to generate acceptable returns in the near term or to consider other options,” she added at an investor presentation on Jan. 11.

GM posted a memo in its plants in Brazil warning workers that it had experienced deep losses in the past two years and could not keep operating that way. GM has yet to comment on the memo, which was seen by .

GM, which is undergoing a global restructuring, also has announced thousands of layoffs in the United States and plans to shut two plants outside the United States which it has not yet identifi,上海夜生活论坛Gabrielle,ed.

The automaker is also looking to negotiate future investments with its unions, the governments of cities where it operates, and suppliers, said José Auricchio, the mayor of another GM plant location, Sao Caetano do Sul.

Auricchio and Marques Filho said GM had told them at the meeting that the governor of Sao Paulo, Joao Doria, had personally participated in five meetings with the automaker to discuss tax incentives.

The memo added that any turnaround plan for GM would require “sacrifices from everyone.”

Last year, Brazil’s federal government granted carmakers with local plants a 15-year package of tax breaks, extending subsidies for an industry that has struggled to compete.

Economy Minister Paulo Guedes, who took office with a new government this month, has said Brazil cannot afford to keep subsidizing powerful industries, arguing that an end to protectionist policies will make the economy more competitive.

Huawei founder says firm does not spy for China

SHANGHAI ( ) – Huawei’s [HWT.UL] founder Ren Zhengfei on Tuesday rejected claims his company is used by the Chinese government to spy and said he missed his daughter, who is being held by Canadian authorities, the Financial Times n上海夜网ewspaper reported.

Meng Wanzhou, Huawei’s chief financial officer, was detained in Canada last month at the request of U.S. authorities who allege she misled banks about the company’s control of a firm operating in Iran.,上海夜生活网交流Hadrian,

Huawei had “never received any request from any government to provide improper information”, the newspaper reported Ren as saying in an interview with reporters in the southern city of Shenzhen.

“I still love my country, I support the Communist party, but I will never do anything to harm any country in the world,” he said, adding he missed his daughter “very much”.

Huawei confirmed the accuracy of Ren’s comments to . Ren, a former military officer who founded Huawei in 1987 and largely keeps a low profile, said he owned 1.14 percent of the company’s shares.

Beijing and Ottawa have been at odds since Meng’s arrest, which China’s foreign ministry on Tuesday called an abuse of legal procedures. On Monday, China sentenced a Canadian to death for drug smuggling, further damaging relations.

Huawei, the world’s biggest producer of telecommunications equipment, has been facing intense scrutiny in the West over its relationship with China’s government and U.S.-led allegations that its devices could be used by Beijing for spying.

No evidence has been produced publicly and the firm has repeatedly denied the accusations, but some Western countries have restricted Huawei’s access to their markets. Poland said this week it could consider banning the use of Huawei products by public bodies, after it arrested a Chinese Huawei official.


Ren dismissed fears over the security of Huawei’s ,上海晚上耍女人的地方Idaia,equipment, saying “no law in China requires any company to install mandatory backdoors (that could be used for spying)” and added the company had had “no serious security incidents”.

He also played down the risk Huawei faced from being blocked from the rollout of 5G telecoms networks by some countries.

“It’s always been the case, you can’t work with everyone  … we’ll shift our focus to better serve countries that welcome Huawei’” he said, adding the company had 30 contracts globally to build 5G networks.

U.S. President Donald Trump in August signed a bill that barred the U.S. government from using Huawei equipment and is considering an executive order that would also ban U.S. companies from doing so.

However, Trump told last month he would intervene with the Justice Department in the case against Meng if it would help secure a trade deal with Beijing.

Ren described Trump as “great” and praised his tax cuts as good for American industry.

“The message to the U.S. I want to communicate is: collaboration and shared success. In our world of high tech, it’s increasingly impossible for any single company or country to sustain or to support the world’s needs,”

Luxury online reseller The RealReal in talks with banks for IPO:…

( ) – U.S. on,上海夜哪里艳遇Hal,line luxury reseller The RealReal Inc is talking to investment banks about the possibility of an initial public offering (IPO) later this year, people familiar with the matter said on Friday.

The company – which specializes in online secondhand luxury apparel and goods – h,夜上海论坛Idaline,as sent out a request for proposals to prospective advisors and underwriters to manage the listing this year, said the sources, who asked not to be identified because they were not authorized to speak publicly.

The RealReal declined to comment.

In July last year, The RealReal raised $115 million of private funding in a deal led by Perella Weinberg Partners, with addit,上海夜生活网交流Dalton,ional上海夜生活 participation from new investor Sandbridge Capital and existing investor Great Hill Partners. The deal valued the company at $745 million, according to data provider PitchBook.

Since then, the company, which was founded in 2011, has focused on expanding its brick-and-mortar presence with outlets in new areas and more online fulfillment centers.

The RealReal’s success is built on a profitable mix of the boom in e-commerce, the millennial interest in the price and environmental benefits of recycled clothing, and the caution of established high-end brands about what selling their wares on the web can do to brand value.

Fellow e-commerce platform Farfetch (FTCH.N) went public in last September at the top of its target IPO price range, raising $885 million.

GM and Sao Paulo in talks to invest $2.5 billion for tax breaks:…

SAO PAULO ( ) – Automaker General Motors Co is in talks to invest 9 billion reais ($2.5 billion) in the Brazilian state of Sao Paulo over the next three years in return for tax incentives, newspaper Valor Econo,上海夜哪里艳遇Ida,mico reported on Frid,上海夜生活桑拿会所Lake,ay.

GM has in recent weeks warned its employees in Brazil that “sacrifices” would be necessary for the company to return to profit in the country, raising concerns about layoffs or shuttered assembly lines. Last month, the carmaker told public officials and unions it was in talks with,上海新夜网龙凤Pablo, Sao Paulo state about tax incentives.

Valor reported that GM would invest in its product line until 2022, and then the following year, the company would start to enjoy tax rebates. Valor, which also reported that GM’s losses in Brazil last year totaled 1 billion reais despite being the country’s market leader, did not specify the exact amount GM would expect to generate in tax incentives.

GM declined to comment.

Last y上海夜生活ear, Brazil’s government granted carmakers a 15-year package of tax breaks – extending subsidies for an industry that has struggled to compete directly with production elsewhere despite high import barriers.

Economy Minister Paulo Guedes, who took office as part of a new business-friendly federal government this month, has said Brazil cannot afford to keep subsidizing powerful industries, arguing that an end to protectionist policies will make the economy more competitive.

($1 = 3.6503 reais)

Banks, healthcare service firms among winners from U.S. tax bill

NEW YORK ( ) – Sweeping U.S. tax legislation appears to be on the verge of approval, lifting the prospects in particular for banks, telecoms, transports and other industries that st,上海夜生活论坛Sabina,and to gain the most from lower corporate tax rates.

The Republican-led U.S. House of Representatives hit a last-minute snag on Tuesday in their drive to approve,上海夜网邀请码Radley, the legislation favored by President Donald Trump. The plan on Capitol Hill was for the Senate to delete three offending provisions in the House version and vote on the bill, then send it back to the House for a vote on Wednesday.

The bill slashes the corporate income tax rate to 21 percent from 35 percent. That would boost overall earnings for S&P 500 companies by 9.1 percent, according to UBS equity strategists.

For an interactive graphic on how the bill ripples through industries: tmsnrt.rs/2kf26gx

Momentum behind the tax bill over the past month has helped propel the stock market, which had already rallied sharply this year, to fresh record highs.

The S&P 500 has climbed about 5 percent since mid-November when the House of Representatives passed its tax overhaul bill.

But the bill, which also includes a one-time tax on profits held overseas and industry-specific measures, would benefit some stocks, industries and sectors more than others.

The industries that stand to benefit most from the lower rates are telecoms, transportation, retail and banks, analysts said.

But for some groups, such as tech and healthcare, the impact is more mixed.


Domestically geared healthcare companies that focus on services are poised to benefit from the lower tax rate.

Hospital operator Universal Health Services Inc, lab-testing company Quest Diagnostics Inc and drug wholesaler Cardinal Health Inc are among the service companies set to benefit the most, according to Mizuho Securities.

“We believe tax reform should be a significant positive cash flow event, especi,上海夜生活服务Macey,ally for healthcare services companies that tend to have limited international exposure and significant capital expenditures,” Mizuho analysts said in a research note.

While many large drugmakers already report adjusted t上海夜生活ax rates in the low 20 percent range, a number of companies would benefit from the ability to bring back overseas cash, JPMorgan analyst Chris Schott said in a recent note.

According to Schott, Pfizer Inc, with $160 billion in offshore earnings, and Merck & Co Inc, with $70 billion, are particularly poised to gain from repatriating overseas funds.


Banks are expected to be among the biggest winners from a lower tax rate. The S&P 500 banks index has soared 9 percent since mid-November as the tax bill began moving swiftly through Congress.

Of the major S&P sectors, financials pay the highest effective tax rate at 27.5 percent, according to a Wells Fargo analysis of historical tax rates.

Large U.S. banks will see an average 13 percent increase to earnings per share from the lower rate, according to Goldman Sachs analysts, with Wells Fargo & Co and PNC Financial Services Group having the biggest gains.

Citizens Financial Group, Regions Financial Corp and M&T Bank Corp would see sizable earnings benefits and are also poised to be relative winners among large bank stocks, UBS analyst Saul Martinez said in a recent note.

Banks could benefit indirectly if the tax bill provides an economic boost that spurs increased lending and higher interest rates.


The technology sector, which had led the market’s rally for most of 2017, has underperformed the S&P 500 as the tax bill moved forward in Congress.

Tech is expected to benefit less than most other sectors from a drop in the corporate rate, with an earnings boost of 5.3 percent, according to UBS.

Semiconductors, whose shares have had a particularly rough ride in the past month, are expected to see earnings drop by 3.3 percent due to the overall bill, according to UBS.

“Many chip companies have extensive international operations and relatively low blended tax rates,” Wells Fargo analysts said in a recent note. “We see the possibility of changes in the U.S. tax rules as a potential risk for such companies.”

One area where large tech companies could benefit is by spending cash held overseas for uses such as stock buybacks that boost earnings per share. UBS points to Cisco Systems Inc and Qualcomm Inc as companies that could see among the biggest buyback boosts.

“The tech sector would certainly be among the largest beneficiaries if cash stashed overseas can be repatriated at a low rate and presumably used for stock buybacks or dividends,” according to a recent note from Ed Yardeni, president of Yardeni Research.

Toyota, Panasonic announce battery venture to expand EV push

TOKYO ( ) – Toyota Motor Corp and Panasonic Corp are launching a joint venture next year to make electric vehicle (EV) batteries, leveraging the heft of one of the world’s largest automakers and battery makers to expand their EV push.

Toyota will own 51 percent of the joint venture, and Panasonic the rest, the two companies said in a joint statement on Tuesday, confirming previous reports.

The joint venture, which builds on an initial lithium-ion battery part,上海021夜网Sabine,nership ,上海夜网Gabrielle,struck between the two companies in late 2017, reflects the aim of the Japanese companies to become a bigger global player in the battery industry, which is vital for the de,上海夜生活论坛Dallas,velopment of affordable EVs.

The two companies will pool part of existing battery-related equipment and engineers to the joint venture. Panasonic will also transfer its manufacturing capabilities in Japan and China for its thin, rectangular-shaped prismatic batteries.

The two companies will transfer a total of 3,500 employees.

Batteries produced by the joint venture will be sold to various automakers.

The capital size of the venture has not been decided yet, the two companies said.

While Panasonic is one of the world’s biggest EV battery suppliers, it is facing rising competition from Sou上海夜生活th Korean makers Samsung SDI Co and LG Chem, and CATL of China.

Panasonic is currently Tesla Inc’s exclusive battery cell supplier, but reported that the U.S. EV maker has been in discussions with other companies including China’s Tianjin Lishen to supply batteries for its new Shanghai car factory.

Toyota and Panasonic already operate a joint venture called Prime Earth EV Energy, which manufactures batteries mainly used in gasoline hybrid vehicles.

The new joint venture also shows that Toyota is expanding further into development and production of EV batteries just as many rivals have been stepping away from their development due to the heavy costs involved.

Written by shyw on November 14, 2017 Categories: zowywagu Tags: , , ,

Exclusive: Juul plans India e-cigarette entry with new hires,…

NEW DELHI/LOS ANGELES ( ) – U.S.-based electronic cigarette company Juul Labs Inc is hoping to launch its products in India by late 2019, a person familiar with the strategy told , marking one of its boldest bets to expand away from its home turf.

After recruiting Uber India executive Rachit Ranjan as a senior public policy strategist, Juul this month hired India-based Mastercard executive Rohan Mishra as head of government relations.

It plans to hire at least three more executives, including an India general manager, LinkedIn job postings showed. It also plans “a new India subsidiary”, according to one posting.

“It (the plan) is currently at an exploratory stage, but the company needs people on the ground in India,” the source said.

Juul’s sleek vaping devices, which resemble a USB flash drive and offer flavors such as mango and creme, are a sensation in the United States but have drawn tighter regulatory scrutiny due to上海夜生活论坛 surging use among teenagers.

Juul devices, like most electronic cigarettes, vaporize a liquid containing nicot,上海夜生活群Sabine,ine, the addictive stimulant that gives smokers a rush.

Advocates for the devices say that they are far less of a health threat because users don’t inhale the dangerous matter taken into the lungs through cigarette smoking.

Opponents argue the devices still involve addictive chemicals and can be a gateway to cigarette smok,上海夜生活网419Rachel,ing, especially for the young.

The push to launch in India is part of the company’s broader Asia strategy. India has 106 million adult smokers, second only to China in the world, making it a lucrative market for firms such as Juul and Philip Morris International Inc.

However, India’s regulatory environment for tobacco and electronic cigarettes is highly restrictive. The health ministry last year advised states to stop the sale or import of e-cigarettes, saying they pose a “great health risk”. Eight of India’s 29 states currently ban e-cigarettes.

Juul is studying federal and state regulations that could block its plans, the source said, adding that it would engage with the medical community to build acceptance for the devices.

Juul said in a statement India was among the Asian markets under evaluation, but there were no “definitive plans”.

“As we explore potential markets, we are engaging with health regulators, policymakers and other key stakeholders,” the company said.


As part of its evaluation, Juul said it would consult with the Indian Journal of Clinical Practice (IJCP), a healthcare communications company.

One of the journal’s editors is a former president of the Indian Medical Association, K.K. Aggarwal, who has publicly voiced his support for e-cigarettes.

The IJCP will advise Juul on the regulatory landscape and offer advice on how it should approach the market, a second person familiar with the plans said.

Juul would face competition from leading players in India’s $10 billion cigarette market – ITC and Godfrey Phillips – which sell such electronic devices as well.

India’s vapour-products market was valued at only $15.6 million in 2017, according to Euromonitor International, but it is expected to grow by nearly 60 percent a year up to 2022.

Juul could be “potentially very attractive” to the growing number of young and wealthy smokers in India, said Shane MacGuill, Head of Tobacco Research at Euromonitor International.

Altria Group Inc last month paid $12.8 billion to take a 35 percent stake in Juul, a move expected to boost the company’s international growth prospects.

Philip Morris is also considering a launch of i,上海新夜网龙凤Pablo,ts heat-not-burn tobacco device iQOS in India, which it says is less harmful than conventional cigarettes, reported last year.

Many tobacco-control activists are opposed to e-cigarettes, saying they could lead to nicotine addiction and push people to consume tobacco. More than 900,000 people die each year in India due to tobacco-related illnesses.

“If they (Juul) try to launch in India, they need to be nipped in the bud before they become a major health hazard,” said Sanjay Seth, head of tobacco-control at Indian non-profit Sambandh Health Foundation.

ECB’s Draghi warns of weaker growth ahead

FRANKFURT ( ) – European Central Bank President Mario Draghi acknowledged on Thursday that economic growth in the euro zone was likely to be weaker than earlier expected due to the fall-out from factors ranging from China’s slowdown to Brexit

The region’s economy is already suffering its biggest slowdown in half a decade, raising questions over whether the ECB will be able to increase interest rates for the first time in a decade later this year as its current guidance indicates.

The ECB left that guidance and interest rates unchanged at its meeting on Thursday. But Draghi’s downbeat comments, including a reference to “downside” risks, will fuel market speculation that the bank will delay any rate hike, mirroring a more cautious approach by the U.S. Federal Reserve, and may offer new cheap loans to banks.

“The risks surrounding the euro area growth outlook have moved to the downside on account of the persistence of uncertainties,” Draghi told a news conference, citing trade and geopolitical threats and emerging market volatility.

“The near-term growth momentum is likely to be weaker th,上海夜网Lake,an previously expected.”

His comments pushed the dollar to a more than five-week high against the euro. The single currency was 0.45 percent lower against the dollar at $1.1329, after falling as low as $1.1308, its weakest since Dec. 17.

Despite citing the rising risks, Draghi nonetheless reeled off reasons for not changing policy now, notably the strength of the region’s labor market and rising wage growth, which he said would help push underlying inflation up over the medium term.

Related CoverageDraghi comments at ECB press conferenceTEXT-Statement from the ECB following policy meeting

“The key factor to assess is the persistence of the uncertainty,” he said, adding he was confident that those uncertainties — ranging from the outcome of Brexit to China’s slowdown and trade protectionism — were being addressed.

“The Governing Council will give itself more time to assess whether all these risk factors have affected confidence and we are going to have another discussion in March when we will also have the new (growth) projections.”

Draghi said the Governing Council was unanimous both in acknowledging the growth slowdown and the factors causing it but some policymakers were less optimistic than others about the economic outlook.

With the ECB already owning a quarter of the euro zone’s outstanding governing debt, analysts were expecting it to turn to other instruments to keep credit flowing.

A new round of cheap multi-year loans to banks, known as Targeted Long-Term Refinancing Operations (TLTRO), was 上海夜生活论坛widely seen as the first port of call.

“We do expect an announcement in March that (T)LTROs will be extended, most likely via two-year, variable rate operations,” Frederik Ducrozet, an economist at Pictet Wealth Management, said.

Draghi said on Thursday TLTROs had been raised by several policymakers but no decision had been taken.


Having ended a landmark 2.6 trillion euro ($3 trillion) bond purchase scheme just weeks ago, the ECB said on Thursday it still expected to keep interest rates at record lows “through” the summer, sticking with its long-standing guidance even though markets now see a much later move.

Investors see a rate hike only in mid-2020 while a poll of economists predicted the first rise in nearly a decade in the fourth quarter.

“When markets place the first rate hike in 2020, they are using the state contingent part of our forward guidance…and it shows that they have understood our reaction function,” Draghi said.

With Thursday’s decision, the ECB’s deposit rate, now its main benchmark, remains at -0.40 percent while the main refinancing rate, its key rate during normal times, stands at 0.00 percent.

Germany, France and Italy, the euro zone’s biggest economies, barely grew in the fourth quarter of 2018 and survey data showed on Thursday business activity across the euro zone expanded at the slowest pace since 2013 at the start of this year.

Draghi said on Thursday that the ECB did not see recessions as likely in Germany or Italy but the reference to downside risks meant the central bank had now given up its facade of optimism and joined the Federal Reserve in signaling a more cautious stance.

Some policymakers have in the past objected to changing the risk assessment since such ,上海凤楼夜网Balthazar,a move would raise expectations of policy action and the ECB is not yet prepared for such a move just weeks after ending its biggest stimulus scheme.

“With today’s meeting, the ECB has joined the crowd of concern,” Carsten Brzeski, an economist at ING, said. “The return of a downside risks t,上海夜生活论坛Hallie,o the growth assessment does not, yet, signal any policy changes but only a slight easing bias.”

($1 = 0.8798 euros)

Goldman dealmakers shine in Solomon’s maiden quarter

( ) – Goldman Sachs Group Inc (GS.N) turned in a better-than-expected profit during David Solomon’s first quarter at the helm, helped by dealmakers in the division the new chief executive once oversaw.

A 56 percent jump in M&A fees as well as higher equities trading revenue during a volatile quarter for stocks helped offset another decline in bond trading, a business whose structural issues have forced Goldman to rethink its overall business model.

Shares of the fifth-largest U.S. bank surged more than 8 percent in midday trading on Wednesday.

Using a plan Solomon co-developed in 2017, Goldman Sachs is trying to generate $5 billion in additional annual revenue by growing its consumer operation, wooing new institutional customers and convincing existing clients to do more business with the bank.

“We will not be complacent waiting for the market to return,” Solomon said on a conference call with analysts, referring to bond trading.

The comments broke with a precedent set by previous CEO Lloyd Blankfein, who did not publicly speak to analysts each quarter.

Solomon also addressed Goldman’s involvement in the Malaysian 1MDB scandal, apologizing for a former employee’s role while defending the broader bank’s innocence. [L3N1ZG46A]

Goldman reported a profit of $2.3 billion上海夜生活论坛, or $6.04 per share, in the fourth quarter. That compared with a loss of $2.1 billion, or $5.51 per share, in the year-ago period when the bank took a big one-time hit from the U.S. tax code overhaul.

Analysts had expected a profit of $4.45 per share, according to IBES data from Refinitiv. Analysts said the bank handily beat consensus expectations when taking into account one-time items.

Goldman’s total revenue was $8.1 billion, above analysts’ average estimate of $7.6 billion. The biggest line-item gain was the $1.2 billion of M&A advisory fees Goldman reported.

The bank’s $1.6 billion of quarterly equities trading revenue was up 17 percent, with bond trading revenue dropping 18 percent to $822 million. Goldman took in more than $6 billion in quarterly bond-trading revenue at the business’s peak.

Goldman tends to be more sensitive to market fluctuations than peers that hav,上海夜网推油Falkner,e large, stable revenue streams from other businesses.

Even so, Wall Street banks including JPMorgan Chase & Co (JPM.N), Citigroup Inc (C.N) and Bank of America Corp (BAC.N) reported similar trends this week, with their bond trading down 15 percent to 21 percent. The industry also reported declines in stock and bond underwriting revenue, which was expected.

Under Solomon’s plan, Goldman is trying to look more like its rivals by growing its fledgling consumer bank, expanding further into wealth management and building a corporate cash management business.

Growing deposits from consumers and businesses will also help Goldman lessen its cost of funding. The bank has so far gathered $35 billion in deposits from its Marcus consumer business, ,上海夜网Paige,including $7 billion from its recent expansion into the United King,上海夜网邀请码Babette,dom, Chief Financial Officer Stephen Scherr said on the call.

Despite its efforts, Goldman’s shares have been underperforming peers due to worries about its possible exposure to 1MDB-related costs.

“The 1MDB situation is like the real hold up for people right now,” said Evercore ISI analyst Glenn Schorr.

The bank added $844 million to its legal and regulatory provisions last year, more than four times what it set aside in 2017, though it did not specify the purpose.

Goldman’s stock has fallen 30 percent over the last 12 months, and is trading at a discount to its tangible book value.

(This story corrects bond trading figure in 11th paragraph to million, not billion)

H&M blames online investment for latest profit decline

STOCKHOLM ( ) – Sweden’s H&M disappointed investors with a 10 percent tumble in quarterly profit, the world’s second largest fashion retailer blaming investment aimed at boosting its online business for the decline.

Profit fell for the third straight year in 2018 because of competition from the likes of Zara, Primark and ASOS and as the shift to online shopping hit trading at its core budget stores.

“It has been a challenging year for H&M group and the 上海夜网industry but after a difficult first half, there are signs the company’s transformation efforts are beginning to take effect,” CEO Karl-Johan Persson said in a statement.

H&M has invested heavily in logistics and digital technology and is reviewing its mix of stores and brands, while also working on a new H&M store concept.

H&M spent around 450 million Swedish crowns on logistics and technology in the last three months of its financial year, including resolving problems it flagged earlier in 2018 and switching to a new online platform in its biggest market Germany.

“H&M’s investments in its offer are more than the market anticipated and may disappoint those looking for signs of margin normalization,” said RBC Europe analyst Richard Chamberlain.

Shares in the Swedish company were down 1.7 percent after pre-tax profit for September-November shrank for the sixth straight quarter to 4.4 billion crowns ($482 million).

That was down from 4.9 billion crowns a year earlier and well b,上海新夜网龙凤Hadleigh,elow analysts’ mean forecast in a poll for an increase to 5.1 billion crowns.


Persson said improved collections generated better full-price sales and lower markdowns towards the end of 2018, predicting markdowns should be down around 1 percentage point in the first quarter, while inventories should also fall.

The company said it planned to add a net 175 stores in 2019, with almost half of them to be newer fashion brands like COS, Arket and Weekday – part of its drive to mimic the success of Inditex by,夜上海419龙凤论坛Hallie, targeting multiple sub-sections of the market.

H&M hopes recent heavy investment will eventually drive a recovery in profitability and said it will trim capital spending in 2019, expecting to invest 10.5 billion to 11 billion crowns in 2019, down from 12.8 billion in 2018.


Its sales in Germany rose 2 percent in the quarter, bucking a weaker market. Data out on Thursday showed German retail sales plummeted by 4.3 percent on the month in December, the fastest fall in 11 years.

H&M company proposed an unchanged dividend of 9.75 crowns per share for 2018. Several analysts had forecast the retailer would lower its annual payout for the first time since its 1974 listing.

“Only time will tell whether an unchanged dividend was the result of misplaced optimism, given mixed signs from current trading,” wrote Jefferies analyst James Grzinic.

($1 = 9.0221 Swedish crowns)

Explainer: How U.S.-China talks differ from any other trade deal

WASHINGTON ( ) – The trade deal that U.S. negotiators are seeking with China may have more in common with a sanctions-monitoring regime than a traditional trade pact.

The administration of U.S. President Donald Trump is pushing China to agree to regular reviews of its compliance as a condition of any trade deal between the world’s two biggest economies, according to people familiar with the talks.

The proposal for reviews is one key way in a U.S.-China deal could differ from typical trade deals across the world, in part because of the deep distrust between their two governments.

Here’s a breakdown of the issues that are unique to the bilateral talks:


Not likely. The United States has not made public any offers to lift tariffs, although negotiators for both nations are working to avoid a scheduled March 2 tariff increase on $200 billion worth of Chinese goods. U.S. officials see the continuing threat of tariffs as the “teeth” in any agreement. The United States alleges that Chinese companies have coerced their U.S. partners into improperly transferring proprietary technology – an allegation Beijing denies. The demand for frequent compliance reviews reflects frustration among U.S. officials who have complained that China’s has failed to follow through on past commitments上海夜生活论坛 to implement free-market reforms.


China has proposed buying additional U.S. services and goods, including soybeans and energy products, people familiar with the talks have said. U.S. Treasury Secretary Steven Mnuchin in December said China had offered to make an additional $1.2 trillion in additional purchases from the United States, and Bloomberg reported Friday that China has proposed purchases that would eliminate the U.S. trade deficit with China by 2024. Economists have a,上海夜生活论坛Hadrian,rgued that significantly reducing the U.S. trade deficit will be difficult, given that the strong American economy and consumer spending means that demand for imports is strengthening. The United States had a $375 billion goods trade deficit with China in 2017, and will likely exceed that for 2018 when final U.S. Census Bureau trade data are released.


Traditional free trade agreements aim to lower trade barriers between the countries signing them. Typically, they do not include agreements for specific good purchases. These trade deals are built on the assumption that the parties will adhere to the terms of the agreement, with the benefit being increased trade and export opportunities within the free trade zone. The Trump administration imposed new tariffs on Chinese goods to try to force change in China’s trade, subsidy and intellectual property practices – similar to financial sanctions that the United States has imposed on foreign entities to increase pressure on their governments for changes in behavior or policies.

Such sanctions are typically lifted only after the desired changes are verified by the U.S. Treasury Department. The Treasury has said, for instance, it will lift delayed sanctions on Russian aluminum company Rusal after Russian oligarch Oleg Deripaska reduces his stake in Rusal and relinquishes control of the company.


Many free trade deals have built-in dispute settlement mechanisms for state-to-state disagreements over rule compliance, disputes between private investors and governments, or allegations of unfair anti-dumping and anti-subsidy duties. Arbitration panels often hear arguments from both sides, operating like a court. Canada, for example, has brought challenges to U.S. anti-subsidy duties on softwood lumber before panels set up under NAFTA’s Chapter 19, a mechanism that would be continued if the new U.S.-Mexico-Canada Agreement (USMCA) if ratified. If Mexico fails to implement effective labor reforms, the United States and Canada could seek redress through arbitration. But critics, including many Democrats in Congress, argue that this enforcement mechanism is weak and largely untested.


The WTO’s 164 members can challenge each other over unwarranted trade restrictions, illegal subsidies and other unfair practices and seek resolution through dispute settlement panels. But this process is seen as slow, and its decisions too easy for countries to ignore. The United States has argued that the WTO has failed to rein in China’s unfair practices, so it has acted on its own to force change in China. The WTO’s appellate body also could grind to a halt this year as Washington is currently blocking the appointment of judges. Because three judges are needed to rule on appeals, the system could break down when two judg,上海夜生活去哪玩Kai,es’ terms expire in December 2019.


Yes, most trade pacts have provisions for termination, but this has never been tested by the United States. President Trump frequently threatened to quit NAFTA during negotiations last year, and his administration has considered issuing a six-month withdrawal notice as a tactic to,上海仙霞路夜生活Tabitha, pressure Congress into approving the trade deal that would replace it. But some U.S. lawmakers and legal experts argue that Trump may not have authority to quit the agreement without Congress’ approval because the U.S. Constitution grants Congress explicit power to regulate commerce with foreign nations. Any move to quit NAFTA is likely to draw a court challenge.