Tariffs, South China Sea, Coca-Cola, Go-Jek, NJ Devils, SpaceX
Marc Ross Daily
September 18, 2018
Curation and commentary from Marc A. Ross
Reporting from Alexandria, Virginia
Marc Ross Daily = Business News at the Intersection of Globalization, Disruption, and Politics
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✔️ Trump announces new tariffs on Chinese imports
✔️ Japan admits to South China Sea naval exercises
✔️ 'Support my Brexit deal or face no deal'
✔️ Coca-Cola is eyeing the cannabis market
✔️ Go-Jek aims to raise $2bn in fresh funding
Trump announces new tariffs on Chinese imports: WSJ reports, Trump said he will impose new tariffs on about $200 billion in Chinese goods and threatened to add hundreds of billions more to pressure Beijing to change its commercial practices, escalating trade tensions between the world’s two largest economies.
NYT: Trump hits China with tariffs on $200 billion in goods, escalating trade war
The fresh round of tariffs comes on top of $50 billion worth of Chinese products already taxed earlier this year.
Trump said the tariffs, which will hit everyday consumer products including electronics, food, tools, and housewares, will go into effect on Sept. 24.
FT: Trump imposes tariffs on $200bn of Chinese goods
Duties start at 10% and will increase to 25% next year if no deal is reached.
Bloomberg: China convenes tariff response meeting after Trump's $200 billion hit
FT: Japan admits to South China Sea naval exercises
Tokyo’s acknowledgment could irritate Beijing despite warming relations.
For Japan’s aging military, the future is a gray area: WSJ reports, like the rest of Japan, the country’s military is getting older—and a shortage of young recruits has raised concerns among defense planners about maintaining the strength of its forces.
FT: Deal or no deal? Theresa May’s moment of truth on Brexit
EU leaders believe an agreement with the prime minister is possible but worry it will not be ratified in the UK.
'Support my Brexit deal or face no deal', says UK's May: AFP reports, British Prime Minister Theresa May has warned rebels in her party that unless they support her potential Brexit deal with the EU they will face an ugly no-deal split.
Reuters: Canada's Freeland returning to Washington for NAFTA talks as time runs short
SCOTUS: The Senate Judiciary Committee will hold a hearing next week with Judge Brett Kavanaugh and the woman who has accused him of sexual assault.
Election 2018: 49 days away
Trump says tariffs will save American factories. History shows otherwise. NYT reports, after the United States imposed tariffs on Chinese tires in 2009, Chinese companies started building plants in the United States.
WSJ: Apple avoids tariffs on smartwatches, earbuds
Jon Healey: Psst, President Trump! The Chinese aren't paying for the tariffs you're imposing. We are. https://lat.ms/2D5CIW9
FT: US port weighs cost of Trump’s trade war
Businesses at Baltimore hub fear impact of tariff battle with China on their livelihoods.
Ex-Trump adviser Flynn could be sentenced as soon as Nov 28: filing: Reuters reports, Trump's former National Security Adviser Michael Flynn, who pleaded guilty to lying to the FBI, could be sentenced as soon as Nov. 28, according to a joint court filing by prosecutors from Special Counsel Robert Mueller's office and defense lawyers on Monday.
Today: Trump hosts Polish President Andrzej Duda at the White House.
LAT: Trump's plan to create 'space force' would cost $13 billion over five years, Air Force says in first official estimate
AFP: Ex-NYmayor Bloomberg once again mulling White House bid
Facebook posted an ad for a human rights policy director; responsibilities include "coordinate and advise Facebook teams working on human rights, conflict prevention, peace-building, and related projects."
BI: The evidence is piling up that Amazon will choose Washington, DC, for its HQ2
Coca-Cola is eyeing the cannabis market: Bloomberg reports, Coca-Cola says it’s monitoring the nascent industry and is interested in drinks infused with CBD -- the non-psychoactive ingredient in marijuana that treats pain but doesn’t get you high. The Atlanta-based soft drinks maker is in talks with Canadian marijuana producer Aurora Cannabis to develop the beverages.
@JavierBlas: Is marijuana about to become another soft #commodities market à la coffee, sugar and cocoa? Demand is increasing, supply chain logistics would become more challenging, and companies would need soon price risk management futures and options?
SpaceX announces first lunar tourist for 2023 mission: WSJ reports, SpaceX’s first paying passenger will be Japanese billionaire Yusaku Maezawa, who is to blast off from earth in 2023, circle the moon and return, Elon Musk announced Monday.
FT: Go-Jek aims to raise $2bn in fresh funding
Indonesia ride-hailing unicorn plans expansion into south-east Asia.
TRENDS + BUZZ
The death of the cell phone call: Nearly half of all calls will be spam by 2019.
Bring your bot to work day: A new report says that by 2025, more than half of work tasks will be handled by robots, according to the World Economic Forum.
Want to eat here? First buy a multimillion-dollar condo: WSJ reports, luxury-apartment developers hire celebrity chefs and build residents-only restaurants and cocktail bars to attract foodies.
Chargers try new media strategy in battle for L.A.: LAT reports, “It’s a long-term play for us; it won’t happen in one season or one year or even two or three,” Pollack said. “It’s setting the foundation, having the right people and the right brands and the right relationships to bring Chargers football and the Spanos family story, and all that we are, deeper into the L.A. market.” Pollack is well positioned to nurture the plan. He is a director on the L.A. Sports Council, on the board of advisors for the L.A. Sports and Entertainment Commission and on the executive committee for the USC Marshall Sports Business Institute.
Today = Champions League = Group Stage Matches
Barcelona v PSV Eindhoven @ 12:55 pm ET
Inter Milan v Tottenham @ 12:55 pm ET
Liverpool v PSG @ 3:00 pm ET
Bloomberg: NJ Devils expect $5 million this year in sports betting deals