Image Image Image Image Image Image Image Image Image Image Image Image

| November 15, 2018

Scroll to top

Top

Tariffs Archives -

Chinese-owned pork producer is getting U.S. bailout money to protect it from China’s tariffs

November 10, 2018 |

A Chinese-owned pork producer will sell at least $ 240,000 worth of ham products to the federal government as part of the Trump administration’s farm bailout program, the administration said Wednesday.

U.S. pork producer Smithfield, which is owned by the Chinese conglomerate WH Group, will sell…


L.A. Times – Business

Trump Tariffs Pit Auto Companies Against Each Other

November 10, 2018 |

Fights are emerging across the auto industry over who should bear the costs of tariffs, and driving some companies to sue their partners.
WSJ.com: US Business

American beer is feeling the pinch of Trump’s tariffs

November 10, 2018 |

For American brewers, metal tariffs are a bit of a buzz kill.

This summer, as the United States, Canada and Mexico tried to cut a new North American trade deal, President Trump slapped tariffs on foreign steel and aluminum.

More than a month after the countries reached a provisional agreement for…


L.A. Times – Business

‘It’s total chaos’: To companies caught in the U.S.-China trade war, tariffs are big trouble

October 29, 2018 |

Investors breathed a sigh of relief Thursday when Tesla Inc. calmed fears that it was burning too much cash and losing money.

But a word sprinkled in the text of the company’s quarterly report signaled another potential problem that may lie ahead for the electric car maker: tariffs.

Tesla warned…


L.A. Times – Business

The Steel Industry Gets What It Wants on Tariffs

October 22, 2018 |

U.S. steelmakers prevailed in their push for the Trump administration to impose tariffs on imported steel and aluminum. The industry also succeeded in a later effort to make some tariffs disappear.
WSJ.com: US Business

Trump Tariffs to Impact Chinese Mining Hardware Manufacturers

October 19, 2018 |

Trump Tariffs to Impact Chinese Mining Hardware Manufacturers

The escalating U.S. – China trade war threatens to have an adverse impact on the operations of Chinese mining equipment manufacturers, with imports of mining hardware now facing stateside tariffs of more than 25 percent.

Also Read: Former CFTC Chair Advocates ‘Tech Neutral’ Cryptocurrency Regulations 

Harsh Hardware Duties

Trump Tariffs to Impact Chinese Mining Hardware ManufacturersIn June, the Office of the United States Trade Representative reclassified Bitmain’s Antminer S9 as an “electrical machinery apparatus,” rather than a “data processing machine,” subjecting it to a 2.6 percent tariff. But in late August, the administration of U.S. President Donald Trump followed up on that decision by imposing an additional 25 percent tariff on Chinese mining hardware, bringing total tariffs on the Antminer S9 to 27.6 percent.

“All manufacturers of mining rigs based in China will likely be affected by the tariff code change and, in turn, captured by the US trade tariff,” said Ben Gagnon, the co-founder of Hong Kong-based mining hardware developer Lutech.

IPO Prospects of Mining Manufacturers
to be Impacted

Trump Tariffs to Impact Chinese Mining Hardware ManufacturersAnalysts believe the new tariffs could have a negative impact on the planned initial public offerings (IPOs) of Chinese manufacturers Canaan Creative and Ebang International in Hong Kong. In 2017, 8.5 percent of Canaan’s total revenue originated from international markets, while non-Chinese demand accounted for only 3.8 percent of Ebang’s revenue.

Bitmain, however, is believed to be the most exposed of China’s mining hardware manufacturers to the new tariffs. According to its IPO prospectus, approximately 51 percent of its sales came from outside of China in the 2016-17 period. It also said its financials could be impacted by changes to tax rates driven by “economic and political conditions.”

However, Mark Li, senior analyst at Sanford C. Bernstein, said that the company is probably more concerned about rising competition in the mining hardware market. “The U.S. tariff is probably not something on the top of the [Bitmain] management’s minds now,” Li argued.

Do you think that the new tariffs will have a detrimental impact on the operations of China’s leading manufacturers of mining hardware? Share your thoughts in the comments section below!


Images courtesy of Shutterstock


At Bitcoin.com there’s a bunch of free helpful services. For instance, have you seen our Tools page? You can even lookup the exchange rate for a transaction in the past. Or calculate the value of your current holdings. Or create a paper wallet. And much more.

The post Trump Tariffs to Impact Chinese Mining Hardware Manufacturers appeared first on Bitcoin News.

Bitcoin News

Tariffs Hit Those Trump Wants to Help: U.S. Factories

October 15, 2018 |

The Trump administration says tariffs on Chinese imports will shift manufacturing back to U.S. factories, but some companies that have done just that say the tariffs are hurting their business.
WSJ.com: What’s News Asia

Tariffs Hit Those Trump Wants to Help: U.S. Factories

October 15, 2018 |

The Trump administration says tariffs on Chinese imports will shift manufacturing back to U.S. factories, but some companies that have done just that say the tariffs are hurting their business.
WSJ.com: US Business

Chinese Exporters Find18,927 Ways to Avoid U.S. Trade Tariffs

October 9, 2018 |

There are 18,927 individual codes to identify goods the U.S. imports, and switching them around is an increasingly popular way some Chinese exporters are ducking proliferating American tariffs, say trade professionals. The plywood industry is a case in point.
WSJ.com: What’s News Asia

CNN

Apple may have most to lose with China tariffs

September 25, 2018 |

The Trump administration imposed new tariffs on $ 200 billion worth of Chinese goods, including pieces of hardware that are essential to electronic products in the United States. CNN’s Samuel Burke examines how this could eventually affect companies like Apple.
CNN.com – RSS Channel – World