Trump's trade tariffs; Fox-Sky hurdle; Davos kicks off

1. Trump's new tariffs: President Trump just made it more expensive to import solar panels and some ...

Posted: Jan 23, 2018 11:10 AM
Updated: Jan 23, 2018 11:10 AM

1. Trump's new tariffs: President Trump just made it more expensive to import solar panels and some washing machines into the United States. The Trump administration on Monday announced new tariffs of 30% on solar panels and taxes on large residential washing machines starting from 20% and going up to 50%.

"The President's action makes clear again that the Trump Administration will always defend American workers, farmers, ranchers, and businesses," U.S. Trade Representative Robert Lighthizer said in a statement.

China, the world's biggest supplier of solar panels, slammed what it described as "an abuse" of trade rules. The move "aggravates the global trade environment," China's Ministry of Commerce said.

South Korea, whose electronics companies LG and Samsung are among the top suppliers of washing machines to the U.S., said it would file a complaint with the World Trade Organization.

LG Electronics saw its stock price plunge as much as 5% Tuesday morning in Asia, before recovering later in the day. Samsung remained largely unaffected, gaining almost 2% during the Asia day.

Whirlpool, meanwhile, will be one stock to watch when markets open on Tuesday. The U.S. company, which filed a petition in 2011 alleging dumping by the Korean firms, stands to gain from the new tariffs.

2. NAFTA negotiations: The tariffs come as the Trump administration prepares for another big trade negotiation. Officials from the U.S., Canada and Mexico will meet in Montreal on Tuesday for a sixth round of talks on NAFTA.

The previous five rounds have seen little progress on reworking the 24-year old free trade agreement, and Trump has repeatedly threatened to pull out of it altogether if he doesn't get the deal he wants.

Top of his wish list? Cars. Trump wants to change how and where automobiles are made in North America, giving more work to U.S. manufacturers, but his proposals have been described by Mexican and Canadian officials as "unacceptable" and "extreme."

With seven rounds of talks scheduled in total, and key elections taking place in Mexico and the U.S. this year, time is running out.

Before the Bell newsletter: Key market news. In your inbox. Subscribe now!

3. Fox-Sky hurdle: A U.K. regulator on Tuesday recommended that the country's government block the proposed takeover of Sky by 21st Century Fox.

The deal would likely be "against the public interest," the Competition and Markets Authority said, because it would give 21st Century Fox chairman Rupert Murdoch too much control over British media.

The authority proposed some changes to the deal to mitigate those concerns, which include spinning off Sky News.

Sky shares rose more than 2% in London Tuesday morning.

4. Netflix is red hot: Netflix stock is expected to open nearly 9% higher on Tuesday, according to FactSet, a day after the company said it added a record 8 million subscribers in the last quarter of 2017.

The growth in subscribers came despite a recent price hike, and the resulting stock surge could see its market capitalization top $100 billion for the first time.

5. Davos kicks off: The gathering of the global political and business elite begins Tuesday, with a big speech from India's Prime Minister Narendra Modi.

President Trump is scheduled to arrive at the Swiss mountain resort later in the week. The U.S. president's attendance at the World Economic Forum annual meeting had been in doubt because of the government shutdown.

Download CNN MoneyStream for up-to-the-minute market data and news

6. More market highs: The Dow Jones industrial average continued its push into uncharted territory, jumping 143 points to another record high after the U.S. Senate reached a deal to end the three-day government shutdown. The Nasdaq also hit an all-time high on Monday, gaining 1%, while the S&P 500 was up 0.8%.

U.S. stock futures edged upwards, while European markets are up in early trading and Asian markets ended Tuesday significantly higher.

Johnson & Johnson, Kimberly-Clark, Procter & Gamble and Verizon plan to release earnings before the open Tuesday, while Texas Instruments and United Continental are set to release earnings after the close.

7. Coming this week:
Tuesday -- Procter & Gamble, Verizon, United, Johnson & Johnson earnings; Davos starts; NAFTA talks resume.
Wednesday -- Comcast, Ford, GE earnings.
Thursday -- American Airlines, JetBlue, Southwest, Caterpillar, Intel, Starbucks earnings.
Friday -- Honeywell earnings, Q4 GDP.

Minnesota Coronavirus Cases

Data is updated nightly.

Cases: 604509

Reported Deaths: 7638
CountyCasesDeaths
Hennepin1249671779
Ramsey52513897
Dakota46840471
Anoka42774458
Washington27428291
Stearns22557225
St. Louis18138313
Scott17551136
Wright16379149
Olmsted13399102
Sherburne1202095
Carver1067448
Clay826192
Rice8202110
Blue Earth762644
Crow Wing681795
Kandiyohi667985
Chisago619952
Otter Tail585884
Benton582998
Goodhue483874
Douglas475581
Mower470533
Winona461351
Itasca459763
Isanti440064
McLeod430661
Morrison424762
Beltrami407861
Nobles407650
Steele397816
Polk389072
Becker386755
Lyon363853
Carlton353056
Freeborn347033
Pine334923
Nicollet331245
Mille Lacs311854
Brown307840
Le Sueur297326
Cass286232
Todd285633
Meeker263443
Waseca238023
Martin235332
Roseau211221
Wabasha20793
Hubbard196641
Dodge18783
Renville182446
Redwood176539
Houston174616
Cottonwood167124
Wadena163323
Fillmore157610
Faribault154719
Chippewa154038
Pennington153820
Kanabec146828
Sibley146810
Aitkin138937
Watonwan13579
Rock128719
Jackson122712
Pipestone116726
Yellow Medicine114920
Pope11306
Murray107110
Swift106918
Koochiching95418
Stevens92411
Clearwater89016
Marshall88817
Lake83220
Wilkin83213
Lac qui Parle75622
Big Stone6044
Grant5948
Lincoln5853
Mahnomen5669
Norman5479
Kittson49022
Unassigned48193
Red Lake4017
Traverse3775
Lake of the Woods3453
Cook1720

Iowa Coronavirus Cases

Data is updated nightly.

Cases: 371101

Reported Deaths: 6053
CountyCasesDeaths
Polk58263640
Linn21221339
Scott20308248
Black Hawk16157312
Woodbury15240230
Johnson1462385
Dubuque13510211
Dallas1129199
Pottawattamie11228174
Story1071648
Warren583791
Clinton561593
Cerro Gordo554095
Sioux517574
Webster515894
Muscatine4882106
Marshall486976
Des Moines467672
Wapello4338122
Buena Vista426940
Jasper421172
Plymouth403181
Lee382356
Marion366076
Jones300957
Henry294637
Bremer288461
Carroll287152
Boone268634
Crawford268240
Benton259855
Washington257351
Dickinson249344
Mahaska232651
Jackson225242
Clay216727
Kossuth216166
Tama212071
Delaware211143
Winneshiek198735
Page194522
Buchanan194033
Cedar192423
Hardin187544
Fayette186643
Wright186040
Hamilton181951
Harrison180073
Clayton171057
Butler166335
Madison164619
Mills163824
Floyd163442
Cherokee159338
Lyon158841
Poweshiek157036
Allamakee152952
Hancock150334
Iowa149824
Winnebago144531
Cass139255
Calhoun138913
Grundy137233
Emmet135841
Jefferson133535
Shelby131837
Sac130920
Union130035
Louisa129649
Appanoose129049
Mitchell126643
Chickasaw124917
Franklin123523
Guthrie123332
Humboldt119626
Palo Alto113623
Howard105022
Montgomery103638
Clarke100924
Keokuk96732
Monroe96431
Unassigned9540
Ida91535
Adair87332
Pocahontas85822
Davis85225
Monona82931
Osceola78916
Greene78011
Lucas77923
Worth7618
Taylor66812
Fremont6269
Decatur6169
Ringgold56424
Van Buren56318
Wayne54423
Audubon53311
Adams3444
Rochester
Cloudy
62° wxIcon
Hi: 64° Lo: 55°
Feels Like: 62°
Mason City
Partly Cloudy
67° wxIcon
Hi: 68° Lo: 54°
Feels Like: 67°
Albert Lea
Partly Cloudy
64° wxIcon
Hi: 66° Lo: 53°
Feels Like: 64°
Austin
Partly Cloudy
63° wxIcon
Hi: 65° Lo: 54°
Feels Like: 63°
Charles City
Cloudy
63° wxIcon
Hi: 66° Lo: 57°
Feels Like: 63°
More storm chances this week
KIMT Radar
KIMT Eye in the sky

Latest Video

Image

Working through post-pandemic living

Image

Sean's Weather 6/21

Image

One local Rochester FC athlete competes locally and internationally

Image

Century track and field sophomore Maddy Habberstad making some noise at the state tournament

Image

Dining on Father's Day

Image

Rochesterfest activities cancelled because of weather

Image

Ryan's Evening Forecast (6/20/21)

Image

Aaron's Evening Forecast (6/20/21)

Image

Aaron's Sunday Forecast (6/20/21)

Image

Ryan's Morning Forecast (6/20/21)

Community Events