Peter Lewis: A fast moving and topical business and finance show.
A fast moving and topical business and finance show bringing you breaking business and economic news and financial market updates. Presented by former CEO and investment bank global trading head Peter Lewis, with over 30 years' industry experience. Join Peter and his expert guests for analysis and discussion on the day's top business stories live from 8 a.m. to 8.30 a.m. every weekday morning on RTHK Radio 3. We have a podcast to download after the show and you can also listen through the RTHK Radio 3 website live or later in the day. We welcome your questions, comments and feedback to read out in the show. You can email us at email@example.com, post on our Facebook page "Money Talk on RTHK Radio 3 " or find us on twitter "MoneytalkR3") .
US stocks have plunged overnight after China said it would retaliate to US tariffs with measures of its own. President Trump said Beijing would be “hurt very badly” if it doesn’t agree to a trade deal and warned Xi Jinping not to retaliate as things would only get worse. Despite that, China’s Ministry of Finance said it would impose duties of between 5% to 25% on US$60 billion of American goods effective June 1, including household goods, industrial materials & chemicals, agricultural products and liquefied natural gas. The Global Times warned that China may also stop buying US agricultural products, as well as slashing its Boeing orders and restrict service trade.
Our guests on today’s Money Talk are Connie Bolland of Economic Research Analysis and Sunil Kashyap from The Bank of Nova Scotia. Providing the view from Japan is Naoyuki Yoshino, Dean & CEO of the Asian Development Bank Institute.
14/05/2019 - 8:09 Business and Market Discussions
Connie Bolland, Founder & Chief Economist at Economic Research Analysis, comments that the second part of the US-China trade war has just begun, and Ms. Bolland expects more tariffs from both sides.
Sunil Kashyap, Head of Asia of ScotiaMocatta from The Bank of Nova Scotia, points out that the first set of 10% US tariffs on Chinese exports can be absorbed along the supply chain, but the new 15% increase is more difficult to absorb and is much more likely to be passed on to consumers.
14/05/2019 - 8:25 View from Japan