Dan Celia: China Must Come to the Table
PHILADELPHIA—Nationally syndicated host and biblical investing authority Dan Celia talked today about China and tariffs and the impact this will have on global economy.
Celia discusses these and other global and economic headlines on his daily, three-hour “Financial Issues” program, heard on about 650 television and radio stations nationwide.
“Trade and tariffs are still on the table and everybody is watching closely,” Celia said. “We continue to watch what seems to be a losing battle with a synchronized global economy. Of course, everyone was hoping we would continue to see a global growth the likes of which we haven’t seen for a very long time. It doesn’t look like that’s happening. We are hanging very tough here in the U.S. Lots of good things are going on, but the European markets and the Asia markets are suffering dramatically. Most of the economic data that has been reported by these nations seem to be getting a bit more pessimistic in nature and certainly looking toward long-term growth—waning a bit, to say the least.
“China is doing everything it can as we see the devaluation of their yuan, down to about a six-month low compared to the U.S. dollar,” Celia added. “I don’t think it will help them much. Remember, they still have to deal with these tariffs. And it looks like they are still talking about retaliatory measures. Certainly, when you listen to President Trump, he says negotiations are going well—not according to China, anyway. China cannot continue to afford to stack up boxes in their ports. They need to get moving on exports, one would think this would incentivize them to come to the table. Canada should also be incentivized to come to the table, as we look at the possibility of them laying off 6,000 steel workers because of tariffs. They can fix it. Let’s just talk.”
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