3,500 US companies sue Trump over China tariffs

More than 3,500 US companies are suing the Trump Executive in federal court after being harmed by the millionaire tariffs imposed on China.

More than 3,500 American companies, including the giants dand Coca-Cola, Disney, Tesla, Ford or Abbott Pharmacy, manufacturer of tests to detect COVID-19, They have been harmed by the protectionist policies of the US President, Donald Trump, and for this reason they have filed a lawsuit against his Government before the United States Court of International Trade (USCIT), as reported this Tuesday by the Spanish digital portal Information.

The report maintains that the avalanche of lawsuits by multinationals and small US companies against the Trump Executive is due to the millions of dollars in tariffs that these companies must disburse in the framework of the White House trade dispute with China.

In the cases brought before the aforementioned federal court, located in New York City, it is argued that the new tariffs on Chinese imports raise the cost of machinery, parts and intermediate supplies for US companies and assembly lines, notes the information text.

The cases have accelerated, he continues, also because the legal window that allows local companies to file appeals against some of the rates imposed by the US Administration against Chinese products imported into the US is about to expire.

The report stresses that any company that wins the legal battle must receive a refund of all accrued tariffs, which would force the US government to disburse a significant amount of money.

The Executive, for its part, has asked the USCIT to suspend most cases and only accept one or a few that can be extrapolated to similar demands.

The demands could be separated into two lists: one that asks for the 25% duty drawback on $ 200 billion worth of imports and a second that Demands 7.5% lien reimbursement on $ 120 billion of property.

In June 2018, the US Administration imposed tariffs of 25% on Chinese exports worth 50 billion dollars, and in September of the same year it imposed another 10%, a percentage that was increased to 25% in May 2019 to other exports from the Asian giant, worth 200 billion dollars.

Washington imposed tariffs on China (this country responded with similar tariffs to US products) alleging bad practices of the Asian country in terms of technology transfer and intellectual property.

krd / nii /

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Technical analysis office: Santander, Grifols, CaixaBank, IAG, Bankia, Apple, Amazon and Tesla

Next, we give an answer to the values ​​for which we have been asked the most throughout the morning. José María Rodríguez, technical analyst at Bolsamanía, analyzes Grifols, CaixaBank, IAG, Bankia, Apple, Amazon, Tesla and Santander.

Technical analysis
TECHNICAL ANALYSIS CONSULTING

Good Morning. Thank you for your wise comments. My question is about Grifols. If we jump into the pool at current prices, what should the ‘stop’ be? Thank you very much. JC

Dear reader, good afternoon. Of Grifols we have talked a lot in recent times and especially in recent weeks. Above all, since the price touched the base of the bullish channel of the last five years, by definition important support. Read here the analysis that we carried out this Thursday on the titles of the manufacturer of blood products. As we have commented on so many occasions, we are talking about a bullish title in the medium and long term, but in a corrective phase or reaction phase in recent months. One thing is not incompatible with the other, nothing is further from the truth. The ‘stop’ at this time should be placed at the September lows, which is where the rebound began (21.40). Another ‘stop loss’ would not make any sense. Thank you very much, greetings.

grf021020
Grifols weekly chart

Good morning, I would like to know what opinion you have about CaixaBank, if it is time to buy or sell, in the short, medium and long term. Thank you in advance José María. J.GS.

Dear investor, good afternoon. CaixaBank we analyze it this Wednesday, read it here. Let’s say that the heat from the merger operation with Bankia has passed. And now we have him attacking important support levels, such as the area of ​​1.75-1.77 euros. Drilling this, on weekly candles and loosely, would be a worrying sign of weakness. Prelude to what could be a return to the lows of the year in the area of ​​1.50 euros. This shows, if there was any doubt, that banks better not touch them. The weakness of the sector is maximum. Thank you very much, greetings.

Good morning, I would like to know your opinion about IAG after the capital increase. Can you still go lower? I have indecent losses and I do not know what to see the truth. Thank you. Pc

Dear reader, good afternoon. I’m sorry to tell you that the graph of IAG it cannot look worse. There is no where to catch it. You now have resistance at the declining support that has recently drilled to the downside, now at approx. 1.10 euros. But what commands is the price and the succession of decreasing highs and lows is impeccable. In fact, to have a first sign of real strength in the title, beyond the typical bounces against trend, what less than to demand that it build us a first rising maximum. And for this, the price should be able to jump above the resistance of 1,684 euros: the highs of September. And as support, nothing is observed until the area of ​​0.77-0.80 euros. Price levels not seen since 2011. Thanks to you, best regards.

Good morning, José María. It would be of great help, given the situation in which Bankia finds itself, if you analyze us and give your opinion about what its graphs tell you. Do we hold or sell after the strong increases due to the merger with CaixaBank? Thanks in advance. A greeting. F.SF.

Dear investor, good afternoon. Bankia it is still bullish in the short term, but very bearish in the medium and long term. Let’s say that what I like about the graph is the support it presents in the imposing bullish gap of the session of last September 4, at 1,035 euros. There we have a very important short-term support, and another at the base of the short-term bullish channel, now at approximately 1.12-1.13 euros. Let’s say that the return-risk equation becomes optimal on the long (bullish) side and for ‘trading’ at the levels closest to the gap and with a ‘stop’ in it. That said, the weakness of the financial sector remains at its highest. And the rebound of the banks after the merger rumors became known a simple mirage. A bounce within a clear background downtrend and little else. Thanks to you, greetings.

Good morning, Mr. José María. First of all, thank you very much for your analysis that I do not miss a day. I would like you to tell me how you see the possibility of entering Apple and Amazon for the long term. Or am I too late and maybe it would be better to wait for some correction? And Tesla? Many thanks. A greeting. MA.B.

Dear reader, good afternoon. Apple it’s a stock that I love, especially since it’s flawlessly bullish in the long term. As for example and among many others: Amazon, Microsoft, Netflix, Tesla, LVMH, ASML, etc. Although in the short term we have him in the reaction phase, or what is the same, draining the previous excesses. This presents an important support in the area of ​​$ 100 and a little lower we have the bullish gap of $ 96.19 (session of July 31). In theory, in the range of $ 96- $ 100 we have an interesting support zone from which to try to climb the uptrend of the bottom, or primary.

As to Amazon, I am left with the long-term bullish guideline that joins each and every one of the increasing lows since the end of 2008. Straight support that passes at the current moment by $ 2,000, price levels very far from the current ones. Amazon is a clear hold on portfolio. I highly doubt that this one is trying to look for the bullish guideline at the current time, but know that in the price range between $ 2000- $ 2200 numerous areas of medium term support converge.

As to Tesla the title could not be more bullish. In addition, in the short term we have him embedded within a triangle (decreasing highs and increasing lows). Triangle of bullish implications for the price. In addition, we have a clear support zone in the simple moving measure of 50 sessions (MM50). There it has been supported a couple of times in recent weeks and even a return to the all-time highs at $ 502.49 cannot be ruled out. What I am not seeing is entering now, because doing so would be arriving very late to the market. Thank you very much, greetings.

Good morning, Mr. Rodríguez. I have Santander shares at 2.02 euros, from when all banking began to rise sharply after rumors of a merger between Bankia and CaixaBank. I think that the bank is very hard hit and if we know how to wait, we can obtain significant returns. I’m going long-term, but I’d like to know when the charts would confirm a mid-term upward trend reversal. In other words, when would we have, with the current information, figure back? Thank you so much for all your advice. Greetings from Alicante. M.OH.

Dear investor, good afternoon. I can’t tell you about Santander nothing you probably don’t know and haven’t discussed before. The only thing that can be said is that it is trying not to lose the support it has at 1.50 euros: the 1998 and 2002 lows. And that there is nothing below. Or rather, we do not have any visibility about where the market can try to make ground. It is very bearish and is far from showing any sign of strength. In fact, only above the June highs (last declining high) would we begin to look at the title with different eyes. But this maximum is currently at 2.60 euros, neither more nor less. The weakness of the financial sector is maximum and the rebound of early September a mirage. Thank you very much, greetings.

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