U.S. Treasury's Yellen Says New Tariffs On Chinese Goods Are Highly Strategic; Refusing To Let U.S. New Energy Companies Be Undermined By China's Coordinated Dumping; Trump Tariffs Will Be Across The Board, Impact All Trade Partners, And Increase Consumer Costs
Portfolio Pulse from Benzinga Newsdesk
U.S. Treasury Secretary Janet Yellen announced new strategic tariffs on Chinese goods to protect U.S. new energy companies from China's coordinated dumping. The tariffs, which will be across the board, are expected to impact all trade partners and increase consumer costs.
June 20, 2024 | 2:32 pm
News sentiment analysis
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NEGATIVE IMPACT
The new tariffs on Chinese goods announced by U.S. Treasury Secretary Yellen are likely to negatively impact the iShares China Large-Cap ETF (FXI) due to increased trade tensions and potential economic repercussions in China.
The announcement of new tariffs on Chinese goods is likely to increase trade tensions between the U.S. and China, which could negatively impact Chinese companies and, by extension, the iShares China Large-Cap ETF (FXI).
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 80
NEUTRAL IMPACT
The new tariffs on Chinese goods announced by U.S. Treasury Secretary Yellen could have a mixed impact on the SPDR S&P 500 ETF (SPY) as increased consumer costs may weigh on U.S. companies, but protection of new energy companies could be a positive.
While the new tariffs could increase consumer costs and negatively impact some U.S. companies, the protection of new energy companies could be beneficial. The overall impact on the SPDR S&P 500 ETF (SPY) is likely to be mixed.
CONFIDENCE 75
IMPORTANCE 80
RELEVANCE 70