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Stocks Slide As Trump Says China Trade Deal Might Wait Until After 2020 Election

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President Trump’s remarks sent the stock market tumbling on Tuesday morning, as investors grappled to recalibrate to the suggestion that a trade deal with China could be a year away.

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President Trump on Tuesday raised the prospect of postponing a trade deal with China until after the 2020 election, shaking market confidence and sending stocks tumbling.

“A China trade deal is dependent on one thing — do I want to make it,” Trump told reporters in London, where he is attending the NATO summit.

“In some ways, I like the idea of waiting until after the election for the China deal, but they want to make a deal now and we will see whether or not the deal is going to be right,” he added.

As a result of the dismissive remarks, the Dow fell nearly 400 points Tuesday morning as traders came to grips with the notion that a trade truce might not be finalized before another round of costly tariffs on some $160 billion worth of Chinese imports are imposed on Dec. 15.

Tuesday’s sharp slide in the market came on the heels of the previous day’s biggest one-day decline in nearly eight weeks. On Monday, the Dow fell 268 points.

Trump on Tuesday injected even more uncertainty into global markets, saying he had “no deadline” to put an end to the trade war with the world’s largest economy. That contradicted remarks just three weeks ago that the administration was close to a mini agreement with China.

“The mercurial nature of Trump’s comments certainly adds a huge element of unpredictability and volatility to the negotiations,” Eswar Prasad, professor of trade policy at Cornell University, told NPR.

Prior to the president’s remarks on Tuesday, it seemed as if the U.S. and China were making progress toward reaching a “phase one” deal. That was expected to halt further escalation of trade sanctions between the two nations and roll back some of the tariffs imposed in September. Now, analysts fear the White House position is hardening once again, insisting that China meet all of its major demands before the U.S. will agree to even a limited deal.

“If these comments do have substance to them, it suggests that this pall over the trade situation with China could persist into next year, and it might also result in a hardening of the U.S. position in other trade disputes that are ongoing with many other trading partners,” Prasad said.

He notes that the president’s latest musings also undercut the position of his negotiating team, which is seeking a compromise. He added that the president’s remarks “suggest that the Chinese might be very reluctant to make the sort of concessions that Trump wants to see.” And that lowers business confidence, Prasad said.

Hugh Johnson, chief economist at Hugh Johnson Advisors, suggests the reason Trump’s delayed timeline came as such a shock to investors is because of their assumption that the president would protect American farmers — a powerful pro-Trump voting bloc — from taking any further trade hits.

Since the trade war began, China has cut back on purchases of U.S. farm goods such as soybeans and turned to Argentina and Brazil for alternative supplies.

“Most of us had believed that one thing the president wants or needs is the farm vote,” Johnson told NPR. “And the one way he could get the farm vote is if the farmers in the U.S. sold more soybeans to the Chinese.”

Johnson says Trump’s decision on Monday to reimpose tariffs on imported steel and aluminum from the two South American countries was in retaliation.

Another signal of a likely delay in a trade deal was Trump’s statement that he has not spoken to President Xi Jinping recently. “I don’t think he likes me so much anymore,” Trump told reporters.

Meanwhile, Chinese officials told the Global Times, a news outlet with ties to the Communist Party, that the government is prepared for “even the worst-case scenario.”

In addition to stoking the tariff spat with China, the president also threatened to impose new tariffs on French imports. The move is in retaliation for French taxes on digital services provided by American tech companies.

“I don’t want France taxing American companies. If they’re going to be taxed it’s going to be the United States that will tax them,” Trump said

The administration views that spate of tariff threats as a good bargaining chip, to bring other countries to the table. But tariffs are also likely to cause widespread economic pain, Scott Lincicome an international trade attorney with White and Case, told NPR’s Scott Horsley.

“We’ve really come to this point where the president has a tariff hammer, and all he sees out there is nails,” Lincicome said.

EPA didn't conduct required analyses of truck engine rule: internal watchdog

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The Environmental Protection Agency (EPA) did not conduct required analyses for a proposed repeal of an Obama-era rule, an internal government watchdog has found. 

The EPA’s inspector general’s office said in a report issued Thursday that then-EPA Administrator Scott PruittEdward (Scott) Scott PruittOvernight Energy: Rate of new endangered species listings falls | EPA approves use of ‘cyanide bombs’ to protect livestock | Watchdog says EPA didn’t conduct required analyses EPA didn’t conduct required analyses of truck engine rule: internal watchdog Is Big Oil feeling the heat? MORE directed the Office of Air and Radiation to develop the proposed rule “without conducting the analyses required” by executive orders. 

The EPA in 2017 proposed rescinding the part of an Obama-era regulation regarding emission standards for “glider trucks,” or new trucks with older engines that do not meet current air pollution rules.

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The lack of analyses resulted in the public not being informed on the proposed change’s “benefits, costs, potential alternatives and impacts on children’s health during the public comment period,” the inspector general’s report said. 

The report said, citing EPA managers and officials, that Pruitt pushed for the proposed repeal to be put forth “as quickly as possible.”

One agency official told the watchdog that Pruitt had requested that all rulemakings be done as quickly as possible. 

The inspector general’s office also quoted EPA officials saying that at the time, rulemaking processes were being done “fast and loose,” and describing the atmosphere as the “wild west.”

In response, the agency said it would conduct the required analyses, include them in the public docket and give the public a way to comment on them. 

Pruitt said in a statement when the repeal was pitched that the Obama-era rule “threatened to put an entire industry of specialized truck manufacturers out of business.”

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“Accordingly, the agency is taking comment on an interpretation of the Clean Air Act that recognizes the unique nature of a vehicle made up of both new and used component parts. Gliders not only provide a more affordable option for smaller owners and operators, but also serve as a key economic driver to numerous rural communities,” he added. 

Environmental groups and health groups, however, said the shift would increase emissions.

According to The New York Times, glider trucks produce up to 55 times as much air pollution as trucks with modern emissions controls. 

Pruitt resigned last year amid ethics scandals.

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Amazon faces walkout, protest in Europe on Black Friday

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Six Amazon distribution centers in Germany saw employees walk out during Black Friday, BBC reports.

Employees at centers in Leipzig, Bad Hersfeld, Koblenz, Rheinberg, Werne and Graben all took part in the walkout and are expected to be on strike all weekend. 

The strike was organized by the union Verdi, which said its members’ work in the distribution centers could not be bought with “knock-down prices.”

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Meanwhile in France, climate protesters descended upon the company’s French headquarters in Clichy, a city north of Paris as well as a distribution center in Bretigny-sur-Orge.

The protestors were equipped with banners with slogans such as “Stop Amazon and its world” and “Amazon: for the climate, for employment, stop expanding, stop overproduction,” according to BBC.

Kristen Kish, an Amazon spokesperson, downplayed the situation.

“Today our well-paid, dedicated and highly respected teams across Europe are doing what they do every day – delivering for their customers in an environment that’s fun, engaging and set up to help them succeed,” Kish told The Hill in a statement.

“Self-interested critics have a vested interest in spreading misinformation about Amazon, but the facts tell a different story,” she added. “The truth is that Amazon already offers industry-leading pay, comprehensive benefits, as well as a safe, modern working environment.”

Continuing, she said: “These groups are conjuring misinformation to work in their favor, when in fact we already offer the things they claim to be fighting for.” 

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Fiat Chrysler, UAW reach tentative labor deal

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Fiat Chrysler and the United Auto Workers union reached a tentative four-year labor deal, both groups announced Saturday.

The agreement involved Fiat Chrysler committing to investing $9 billion to create 7,900 new jobs over the next four years, including $4.5 billion to develop 6,500 jobs in five plants that the automaker already agreed to earlier this year, Reuters reported

Union members still need to ratify the agreement, as they have with deals with Ford and General Motors. Members rejected a 2015 deal with Fiat Chrysler, according to Reuters. 

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Fiat Chrysler confirmed the deal was reached in a statement, saying “further details will be provided at a later date.” 

“FCA has been a great American success story thanks to the hard work of our members,” UAW acting President Rory Gamble said in a statement. “We have achieved substantial gains and job security provisions for the fastest growing auto company in the United States.”

The deal comes after UAW’s 40-day strike against General Motors, which cost the company $3 billion.

The union’s deal with GM involved a $9 billion investment commitment in the U.S., including $7.7 billion to the plants and to develop or maintain 9,000 union jobs. Ford committed to spending $6 billion in its U.S. plants and to create or maintain 8,500 jobs, according to Reuters. 

Both companies also committed to signing bonuses, with $9,000 for full-time Ford workers and $11,000 for GM workers. 

A federal corruption investigation into Fiat Chrysler could affect whether union members support the agreement, according to the news wire. General Motors has accused Fiat Chrysler of bribing union officials to reap benefits in negotiations, but Fiat Chrysler denies the allegations.

Bande-annonce Amanda : Vincent Lacoste désemparé face à la garde de sa nièce

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Après Plaire, aimer et courir vite et Première année, on retrouve Vincent Lacoste pour la 3ème fois cette année dans Amanda. Découvrez les premières images de ce drame qui s’annonce tendre et délicat. Sortie en salles le 21 novembre.

En 2018, difficile de passer à côté du phénomène Vincent Lacoste. L’acteur a brillé cette année en incarnant deux fois de suite un étudiant ; chez Christophe Honoré d’abord dans Plaire, aimer et courir vite puis chez Thomas Lilti dans Première année.

Dans Amanda, le comédien, habitué des comédies, opère un virage à 180 dégrés avec un drame pur et dur. Il se glisse cette fois dans la peau de David, 24 ans. Ce dernier vit au jour le jour, avec insouciance, en compagnie de sa petite amie, Léna. Cette dernière est campée par la sublime Stacy Martin, révélation de Nymphomaniac et vue récemment dans Le Redoutable de Michel Hazanavicius. Elle a aussi fait tourner la tête de Tahar Rahim dans Joueurs, sorti en juillet dernier.

David vit de petits boulots et recule, pour un temps encore, l’heure des choix plus engageants. Le cours tranquille des choses vole en éclats quand sa sœur aînée meurt brutalement dans un attentat (Le réalisateur s’est inspiré du traumatisme lié aux attaques du 13 novembre 2015). David se retrouve alors en charge de sa nièce de 7 ans, Amanda. Pour le jeune homme, c’est un bouleversement total. Ne s’étant jamais imaginé avec un enfant sur les bras, il va devoir faire face à cette situation, gérer son deuil et celui de sa nièce tout en s’occupant de son bien-être.

Amanda est mis en scène par Mikhaël Hers. Il s’agit de son 3ème long-métrage après Memory Lane et Ce sentiment de l’été. Ce dernier traitait déjà de personnages en deuil après le décès brutal d’un proche. Le cinéaste revient vers ce thème en y incluant une dimension supplémentaire, celle d’un homme insouciant totalement désemparé face à son deuil et ses responsabilités nouvelles. L’héroïne dont le film tire son nom, Amanda, est jouée par la petite Isaure Multrier, qui fait ses débuts devant la caméra. Greta Scacchi, Ophelia Kolb et Jonathan Cohen complètent le casting de ce drame qui débarquera au cinéma le 21 novembre.

L’INTERVIEW VRAI/FAUX DE VINCENT LACOSTE

Première année : l'interview Vrai/Faux de Vincent Lacoste, William Lebghil et Thomas Lilti

 

Douleur et gloire : le nouveau Pedro Almodovar dévoile sa bande-annonce

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Trois ans après “Julieta”, Pedro Almodovar est de retour avec “Douleur et gloire”. Découvrez la bande-annonce émouvante et musicale du nouveau long métrage très attendu du cinéaste espagnol.

Sur un air de Come Sinfonia, de Mina, se dévoile le tout nouveau film de Pedro Almodovar, Douleur et gloire. Le film suit un réalisateur en souffrance, incarné par Antonio Banderas, et raconte une série de retrouvailles après plusieurs décennies, certaines en chair et en os, d’autres par le souvenir… Ce drame, qui traversera les années 60, les années 80 et le présent, se penche sur le thème de la création qu’elle soit cinématographique et théâtrale, ainsi que sur la difficulté de séparer vie artistique et vie privé…

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Le film marquera la huitième collaboration d’Antonio Banderas et la sixième collaboration de Penélope Cruz avec le cinéaste espagnol. La date de sortie française n’est pas encore connue.

Douleur et gloire : premières photos du nouveau Pedro Almodóvar avec Antonio Banderas et Penélope Cruz 

La Femme de mon frère : rencontre avec Monia Chokri pour ce film “coup de cœur” de Cannes

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Coup de cœur du Jury Un Certain Regard lors du dernier Festival de Cannes, La Femme de mon frère, la première réalisation de la comédienne québécoise Monia Chokri, sort aujourd’hui dans nos salles. Rencontre avec une jeune réalisatrice passionnée.

AlloCiné : Vous avez fait vos débuts en tant qu’actrice dans le film de Xavier Dolan Les Amours Imaginaires, présenté à Cannes. Vous faites aujourd’hui  vos débuts en tant que réalisatrice et votre film est présenté à Cannes dans la catégorie Un Certain Regard. C’est un peu comme un nouvelle naissance non ?

Monia Chokri : C’est très émouvant en effet de naître en tant que réalisatrice dans la salle où je suis née en tant qu’actrice. Il y a quelque chose d’assez troublant, d’autant plus que je ne l’aurais jamais imaginé il y a 9 ans quand j’ai débuté. Je suis très heureuse. Et je suis ravie d’être présente ici en tant que cinéaste. Ça change tout.

Pourquoi est-ce que ça change tout ?

Il y a quelque chose qui m’angoisse d’être à Cannes en tant qu’actrice, parce qu’on est beaucoup plus sur l’image et beaucoup moins sur le propos. Arriver en tant que réalisatrice et être présentée en tant que telle change énormément la donne. Par exemple Thierry Frémaux m’a introduite à Jim Jarmusch en tant que jeune cinéaste, et soudainement il y a un vrai échange, un vrai dialogue qui se créé. Je suis là pour mes idées et ça change tout. J’ai un vrai pouvoir grâce à ma parole.

Les actrices ont beaucoup de choses à dire mais on ne leur demande pas forcément de parler. Après c’est normal que les comédiennes ne soient pas sollicitées de la même manière que les réalisateurs étant donné qu’elles sont les artisans d’un artiste, mais je suis beaucoup plus à l’aise en tant que réalisatrice. Je préfère maîtriser mes idées que mon image.

Est-ce cette envie de maîtriser les choses qui vous a donné envie de passer de l’autre côté de la caméra ?

Il y a une partie de ça oui. C’est venu de l’envie de raconter des choses qui m’intéressent. Mon problème aussi c’est que je ne suis pas une actrice docile, je suis quelqu’un qui a une opinion sur les scénarios, sur le travail du réalisateur… Donc au lieu d’être insatisfaite je me suis dit qu’il fallait que je me lance pour voir si j’arrivais à faire mieux.

La Femme de mon frère est très drôle, l’héroïne est une sorte de Bridget Jones des temps modernes, et en même temps le film aborde des sujets forts comme l’avortement, le droit des femmes à disposer de leur corps, l’immigration… 

Elle est plus intello que Bridget Jones (rires). Mais ça me touche beaucoup parce que c’était mon pari de raconter, par l’humour, toutes les obsessions et les anxiétés – pas de ma génération – plutôt les miennes, mais en espérant que ça résonne auprès d’autres personnes.

Je pense que ce film touchera plus les femmes qui ont une sensibilité particulière. Cela dit j’espère qu’il plaira aussi aux hommes… Si le personnage central avait été un homme on aurait dit que le message du film est universel, mais étant donné que c’est une femme on pense que ça plaira plus à cette part de la population. On a encore beaucoup d’efforts à faire de ce côté, pour que le personnage neutre ne soit plus un homme blanc hétérosexuel de 30 ans. C’est ce qu’on appelle le personnage universel, quelqu’un auquel tout le monde pourrait s’identifier. Hors ce n’est pas le cas. On a l’impression que quand le personnage principal est un femme, les hommes se retirent de la course à l’identification alors qu’à l’inverse les femmes doivent s’identifier aux hommes. Idem pour un homme noir ou gay, les autres ne pourraient soit disant pas s’y identifier.

L’intelligence du film c’est que vous abordez les sujets sans jamais tomber dans le pathos. Sophia traverse les épreuves de la vie mais poursuit sa route sans s’apitoyer.

C’était très important pour moi et particulièrement pour la scène de l’avortement. Je voulais la raconter d’une manière qui ne soit pas lourde. Ce n’est bien entendu pas anodin pour une femme, mais c’est le quotidien. Je n’avais pas envie que ce soit pesant, qu’elle se remette en question… C’est quelque chose de concret, il faut le faire et voilà.

C’est un film féministe, il y a un vrai enjeu, cela dit je ne fait pas du cinéma pamphlétaire, j’essaie de rester en filigrane dans mes sujets. Je ne veux pas être moralisatrice, ni répondre à des questions, je veux questionner. Je m’interroge sur le monde dans lequel nous vivons, ce n’est pas noir ni blanc, c’est tout gris. Parfois les gens bons sont aussi mauvais et inversement, la vie est comme ça, elle est poreuse, elle est parfois dramatique et parfois comique. Il n’y a pas de bonnes réponses sur la migration, sur l’amour… Parce que j’ai des obsessions et des angoisses je pense qu’elles émanent dans le film. Je suis féministe, je questionne les rapports d’identité aujourd’hui… Donc tout ça ressort dans mon film.

Quelles ont été vos influences ?

Ma plus grande influence est le cinéma direct québécois des années 60. Les réalisateurs Pierre Perrault, Michel Brault, Claude Jutra sont des cinéastes qui étaient en dialogue avec La Nouvelle Vague, ils se connaissaient. Des amis de Truffaut se retrouvent d’ailleurs dans un des films de Claude Jutra.

C’est très particulier car ils étaient à la fois documentaristes, et ce qui était intéressant dans leurs fictions c’est qu’ils y intégraient toujours des parts de documentaires. Il y avait quelque chose de très Nouvelle-Vaguienne dans leur manière de faire, les personnages de fiction allaient parfois à la rencontre de véritables gens. Donc on avait cette espèce de part de fiction qui était en relation directe avec le monde dans lequel ils vivaient. 

C’est une des raisons pour laquelle j’ai mis des immigrants dans le film. Ce sont de vrais élèves d’une classe de francisation. On sort de la fiction et on entre à pieds joints dans la réalité. C’est la même chose à la fin du film  où on me voit avec mon frère. C’est une manière d’être libre dans la création.  

La bande-annonce

La Femme De Mon Frère Bande-annonce VF

 

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Button receives honorary degree from University of Bath

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The University of Bath has awarded 2009 Formula One world champion Jenson Button an honorary degree of Doctor of Engineering.

The Briton attended the university’s Winter Award Ceremonies on Tuesday and was presented by Dr Geraint Owen who hailed Button as “a perfect role model for any up and coming sportsman”.

The 36-year stepped down from his race seat following a 17-year F1 career that saw him make 305 grand prix start, win 15 races, secure 50 podium and claim eight pole positions and fastest laps.

Although he remains under contract with McLaren-Honda through 2018, Button admitted in Abu Dhabi that the 2016 season finale was probably his final race.

Below is a video of the F1 star receiving his honorary degree.

And here is the oration from Dr Geraint Owen on Button.

Jenson Button is one of Britain’s top Formula One drivers. Formula One World Champion in 2009, he is third on the list of all time F1 starts, having competed in three hundred and five Grands Prix.

From its very earliest days, motor racing has always held a strange fascination with the spectating public. Purdy wrote in 1957, “Auto racing, bullfighting, and mountain climbing are the only real sports—all others are merely games” (often misquoted as Hemingway). The combination of real danger with the speed and sound has led to a perception of superiority above other sports and a glamorous tinge. Today, the sport of Formula One may be safer than it was when Purdy wrote that but it remains dangerous. Whilst it retains its glamour, the real changes are the sophistication of the engineering of the car and the athleticism of the drivers.

Formula One drivers are some of the most highly conditioned athletes on earth, their bodies specifically adapted to the very exacting requirements of top-flight single-seater motor racing. In a hot, cramped cockpit, loads on the body regularly exceed a sustained 4.5 G. While subjected to this loading, the driver is required to retain total concentration and lightning-fast reactions throughout the two-hour race.

Jenson Alexander Lyons Button MBE was born on 19 January 1980 in the nearby market town of Frome. His father was in the motor trade and was himself an accomplished rallycross driver. Jenson’s career began after his father bought him his first kart; he went onto win the Cadets British Karting Championship in 1991 and then the Junior TKM in 1992, winning all thirty four races. Further karting successes followed; he was British Open Karting Champion on three occasions.

His winning streak continued when he entered single-seater racing aged eighteen, winning the British Formula Ford championship. Jenson entered the world of Formula 3 and, in his debut season, finished third and was named ‘Rookie of the Year’; it was not surprising that he was offered a test drive in Formula One.

He first drove in Formula One with Williams F1 in 2000. This was followed by stints at Benetton and Renault before moving to BAR in 2003. In 2004, he finished third in the World Drivers’ Championship, with only the two Ferraris ahead of him. BAR was subsequently renamed Honda in 2006 and, during this season, after one hundred and thirteen races, Jenson won his first Grand Prix.

Following the withdrawal of Honda from the sport in December 2008, Jenson was left without a drive for the 2009 Season. Ross Brawn led a management buyout in February 2009 and Jenson suddenly found himself in a highly competitive Mercedes-engined car. He went on to win a record-equalling six of the first seven races of the 2009 season and, having led on points all season, he secured the World Drivers’ Championship; his success also helped BrawnGP to secure the World Constructors’ Championship.

For 2010, he moved to McLaren, partnering fellow British racer Lewis Hamilton. After finishing fifth for the team in 2010, Button finished the 2011 season as runner-up. He spent a seventh season with the McLaren team in 2016, his seventeenth in Formula One. From the three hundred and five races that Button has started, he has won fifteen, with a total of fifty podium finishes.

Away from the paddock, Jenson is a keen triathlete and is also involved in charitable work through the creation of The Jenson Button Trust. A gentleman on and off the track, he is liked and admired through the motor racing world; Jenson is a perfect role model for any up and coming sportsman.

Chancellor, I present to you Jenson Button, who is eminently worth to receive the Degree of Doctor of Engineering, honoris causa.

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F1 calendar expansion in the works

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Formula 1 commercial director Sean Bratches says the sport is targeting an expansion of its race calendar beyond 21 races from 2019.

Present at Silverstone yesterday for Williams 40 years in F1 celebrations, Bratches revealed that next year’s calendar would include 21 races, with Germany and France joining a schedule from which Malaysia has now been dropped.

“We want to work in partnership with our teams in terms of determining where we go,” Bratches told Reuters.

“But our view is that we’d like to go above 21 and we want to be a little bit more proactive and go on the offensive in terms of the markets where we go.

“I’ve got an economic impact study in the marketplace right now to really understand the benefits of bringing the Formula 1 circus to a city, a country, a municipality, a principality.

“So as we start identifying an optimal calendar in optimal regions, we can go down and sit with cities and make our case as opposed to what has been a little bit more reactive to bids coming in.”

“[Going beyond 21 races] takes a toll, both physically, emotionally and economically.

“We have to work closely with our partners on the team front to find out what the high water mark is and what makes sense for everyone.”

  • Gallery: Williams commemorates 40 years of F1 with day out at Silverstone

Bratches sees a reduction in back-to-back races and a more territorial approach as potential means of alleviating the work-load and strain put on teams.

“We’re trying to be respectful to everyone in F1, including journalists, to ensure everyone has an appropriate break with their families and some downtime,” he said.

“We don’t want to have too many back-to-backs.

“We’re trying to align these things better by territory – the European races, the American races, the Asian races, but it gets difficult in terms of the weather and managing contractual guard rails.”

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Bratches also underlined the difficulty of manufacturing a calendar which avoids potential clashes with other high-profile sporting events.

“We are very interested in doing what’s best for fans,” he added.

“Next year there is a weekend where the Wimbledon final and World Cup final take place on the same day.

“It would be sub-optimal to have the British Grand Prix on that day. It’s a tight schedule.”

 

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