(WASHINGTON) Harley Davidson will move some production out of the US to avoid EU retaliatory tariffs: It was a sign of an early administration strategy as companies wrestle with Trump’s trade fights, which he says will benefit American workers but first there will be upheaval and pain before the real gain #AceFinanceDesk reports

#AceFinanceReport: June.26: Editor says here’s what we know of their decision and reasons for proposed partial move: President Donald Trump on Monday had sought to frame Harley-Davidson’s decision to move production of some motorcycles overseas as the result of European tariffs and as it was revealed later by Harley-Davidson will move some production out of US after retaliatory tariffs which they say will be devastating to their business #AceFinanceDesk reports

Surprised that Harley-Davidson, of all companies, would be the first to wave the White Flag. I fought hard for them and ultimately they will not pay tariffs selling into the E.U., which has hurt us badly on trade, down $151 Billion. Taxes just a Harley excuse – be patient! #MAGA

— Donald J. Trump (@realDonaldTrump) 10:28 PM – Jun 25, 2018

“Surprised that Harley-Davidson, of all companies, would be the first to wave the White Flag,” Trump wrote on Twitter as he flew aboard his Marine One helicopter from the White House to Joint Base Andrews.

“I fought hard for them and ultimately they will not pay tariffs selling into the E.U., which has hurt us badly on trade, down $151 Billion. Taxes just a Harley excuse – be patient!” he wrote.

Trump continued to train his focus on the company Tuesday, tweeting: “A Harley-Davidson should never be built in another country-never! Their employees and customers are already very angry at them. If they move, watch, it will be the beginning of the end – they surrendered, they quit! The Aura will be gone and they will be taxed like never before!”

A Harley-Davidson should never be built in another country-never! Their employees and customers are already very angry at them. If they move, watch, it will be the beginning of the end – they surrendered, they quit! The Aura will be gone and they will be taxed like never before!

— Donald J. Trump (@realDonaldTrump) 1:17 PM – Jun 26, 2018

The Wisconsin-based motorcycle firm announced on Monday it would shift production of motorcycles intended for European consumers out of the United States, hoping to avoid European Union retaliatory tariffs. Those were applied last week in response to Trump’s own tariffs on steel and aluminum.

For motorcycles, the European bloc raised its 6% tariff to 31%. That will make each bike about $2,200 more expensive to export, Harley-Davidson said.

In a regulatory filing, Harley wrote that shifting production was “not the company’s preference, but represents the only sustainable option.”

Trump has made a manufacturing revival central to his economic message, hoping to retain his political base of white blue-collar workers. He’s said the tariffs he’s applying will realign trade imbalances that harm US workers.

But companies have warned that retaliatory tariffs could be devastating for business, or lead to higher prices for US consumers.

Trump’s tweet on Monday is a sign the administration will continue placing blame on US trading partners, even as American companies shift production or lay off workers amid escalating trade battles.

President Trump says he’s surprised that Harley-Davidson “would be the first to wave the White Flag” after the motorcycle company said it will move some production overseas as a result of tariffs https://cnn.it/2tuT7w5 pic.twitter.com/281tmUtgQW

Editor says #AceNewsDesk reports & #Brittius says are provided by Sterling Publishing & Media News and all our posts, links can be found at here Live Feeds https://acenewsroom.wordpress.com/ Ace News Services Posts https://t.me/AceSocialNews_Bot and thanks for following as always appreciate every like, reblog or retweet and free help and guidance tips on your PC software or need help & guidance from our experts AcePCHelp.WordPress.Com or you can follow our breaking news posts on AceBreakingNews.WordPress.Com or become a member on Telegram https://t.me/acebreakingnews all private chat messaging on here https://t.me/sharingandcaring

MARKETS: China: The benchmark Shanghai Composite slid into bear market territory on Tuesday, closing more than 20% below its recent high in January. The index fell 0.5% on the day following last plunge of 4% as Donald Trumps tariffs slow their economic growth and hitting their sovereign currency the Yuan #AceFinanceDesk reports

#AceFinanceReport – June.26: Chinese stocks have come under pressure in recent weeks from concerns over an economic slowdown and an emerging trade war with the United States: The trade fears have intensified this week following reports the US government is set to announce restrictions on Chinese investment in American companies, potentially escalating the confrontation between the two giant economies, analysts said…………………”It’s a combo effect of concerns about the trade war and China’s GDP growth,” said Dickie Wong, head of research at Hong Kong-based broker Kingston Securities: Last week, Chinese stocks plunged nearly 4% in a single trading day after President Donald Trump threatened to hit China with further waves of tariffs on its exports……………….The Shanghai Composite is one of the world’s worst performing stock indexes this year, and Wong predicts it has further to fall………..The Chinese economy performed strongly last year, growing 6.9%, according to government figures. That momentum continued into the start of this year, but many economists were skeptical it would hold. Signs of a slowdown are starting to appear #AceFinanceDesk reports

shanghai composite 2018 chart

Official economic data for May showed that growth in important areas like exports, investments by companies and consumer spending all declined compared with the same month a year ago.

Shanghai stocks previously suffered extended declines in 2015 and early 2016, which were also triggered by anxieties over the health of the Chinese economy.

China’s currency, the yuan, has also been suffering in recent weeks.

After spending most of last year strengthening against the dollar, the yuan has fallen almost 2.4% since June 14 as fears of a trade war have risen.

A weaker yuan is worsening the rout in stocks, according to Tai Hui, chief market strategist at JPMorgan Asset Management in Asia. It’s “raising concerns that companies who have been heavy dollar debt issuers could face challenges” paying back their loans, he said.

The dollar had already been gaining ground against the yuan and other currencies as the US Federal Reserve raised interest rates.

As China is unleashing more than $100 billion into its economy but the People’s Bank of China, meanwhile, isn’t on the same track. It announced this week that it’s cutting the amount of deposits most commercial banks are required to store with it, which could free up more cash for lending and promote new economic activity.

Analysts at investment bank Nomura say they expect headwinds — including the trade clash with the United States — to further weigh on the Chinese economy in the second half of the year.

“We believe the Chinese economy has yet to bottom out, and the situation could worsen before getting better,” they wrote in a research note late Sunday.

CNNMoney (Hong Kong) First published June 26, 2018: 3:17 AM ET: https://cnnmon.ie/2K6s7gZ pic.twitter.com/HKGaq1oKCmChina’s economy shows signs of slowing. A trade war won’t help

Editor says #AceNewsDesk reports & #Brittius says are provided by Sterling Publishing & Media News and all our posts, links can be found at here Live Feeds https://acenewsroom.wordpress.com/ Ace News Services Posts https://t.me/AceSocialNews_Bot and thanks for following as always appreciate every like, reblog or retweet and free help and guidance tips on your PC software or need help & guidance from our experts AcePCHelp.WordPress.Com or you can follow our breaking news posts on AceBreakingNews.WordPress.Com or become a member on Telegram https://t.me/acebreakingnews all private chat messaging on here https://t.me/sharingandcaring

(SEOUL, S.K.) JUST IN: South Korea’s military has picked Boeing Co to supply the country’s m aritime patrol aircraft in a contract worth around 1.9 trillion won ($1.71 billion), a senior company execut ive said on Monday #AceFinanceDesk reports

#AceNewsReport – June.25: The South Korean procurement agency Defense Acquisition Program Administration (DAPA) said separately that it had decided to buy the P-8 Poseidon aircraft through the U.S. government foreign military sales program: Kang Hwan-seok, a DAPA spokesman, told a media briefing the decision was made after a comprehensive review of legal aspects, cost, schedule and performance…………Saab and Airbus had also shown interest in meeting the government’s needs with the Swordfish and C295 MPA models respectively, but the Boeing contract was ultimately awarded on a “sole-source” basis that did not require a competitive tender process #AceFinanceDesk reports

BA.NNew York Stock Exchange

BA.N

South Korea said in February that it would procure from overseas new maritime patrol aircraft with stronger anti-submarine capabilities in order to better respond to the threat of North Korea’s submarine-launched ballistic missiles.

The February decision came before relations between the two Koreas thawed rapidly this year, with United States and South Korea indefinitely suspending two military training exercises, after the summit between U.S. President Donald Trump and North Korean leader Kim Jong Un this month.

Boeing’s P-8A Poseidon had been the likely candidate as its features such as its large payload and distance of flight more than clears South Korea’s requirements, a military source with direct knowledge of the matter said earlier on Monday on condition of anonymity.

Yang Uk, a senior research fellow at the Korea Defence and Security Forum, said it was not a “bad choice,” given Poseidon’s features.

“Even if South Korea and U.S. decided not to hold military drills this year, we have to maintain security until North Korea fully denuclearizes and we also needed to replace our old maritime patrol aircraft,” Yang said.

South Korea has an existing fleet of aging Lockheed Martin P-3 Orions.

Reporting by Christine Kim and Joyce Lee; Additional reporting by Jamie Freed and Jane Chung; Editing by Himani Sarkar and Vyas Mohan: Reuters Top News: https://t.co/JzVOQRypbA

Editor says #AceNewsDesk reports & #Brittius says are provided by Sterling Publishing & Media News and all our posts, links can be found at here Live Feeds https://acenewsroom.wordpress.com/ Ace News Services Posts https://t.me/AceSocialNews_Bot and thanks for following as always appreciate every like, reblog or retweet and free help and guidance tips on your PC software or need help & guidance from our experts AcePCHelp.WordPress.Com or you can follow our breaking news posts on AceBreakingNews.WordPress.Com or become a member on Telegram https://t.me/acebreakingnews all private chat messaging on here https://t.me/sharingandcaring

(VIENNA) #OPEC looks to have agreed to a 1 per cent increase in world oil production after believing that it has overcome differences between Saudi Arabia and Iran: The decision was taken after major consumers warned of supply shortages #AceFinanceDesk reports

#AceFinanceReport – June.24: According to Reuters, Saudi Arabia and Russia – a non-OPEC member – said that an increase in production by about 1 million barrels per day, equivalent to about 1% of global supplies, from early July, has almost been agreed upon by the group and its allies: However, OPEC sources said that the actual increase in oil production would be less than expected because several countries which have produced less than their quotas will find it difficult to return to their full output, and other producers will not be allowed to fill the gap #AceFinanceDesk reports

Organisation of the Petroleum Exporting Countries [file photo]Organisation of the Petroleum Exporting Countries [file photo]

June 23, 2018 at 12:36 pm

OPEC met in Vienna amid calls from the US, China and India to cut the price of crude oil and prevent a shortage that may harm the global economy: The 14 OPEC member states, along with the 10 non-members, are producing less oil than the amount agreed upon in late 2016. This is due to the political crises in Venezuela and Libya, as well as Iran’s preparation to face the effects of renewed US sanctions.

In theory, OPEC needs the approval of all members in order to conclude an agreement. However, in the past, it has approved agreements without the consent of Iran, which has criticised the idea of increasing supplies because rising prices are in Tehran’s interest due to its heavy reliance on oil revenues.

Middle East Monitor: OPEC looks set to increase oil production by 1 million barrels per day https://t.co/3NlQxskB29

Editor says #AceNewsDesk reports & #Brittius says are provided by Sterling Publishing & Media News and all our posts, links can be found at here Live Feeds https://acenewsroom.wordpress.com/ Ace News Services Posts https://t.me/AceSocialNews_Bot and thanks for following as always appreciate every like, reblog or retweet and free help and guidance tips on your PC software or need help & guidance from our experts AcePCHelp.WordPress.Com or you can follow our breaking news posts on AceBreakingNews.WordPress.Com or become a member on Telegram https://t.me/acebreakingnews all private chat messaging on here https://t.me/sharingandcaring

PayPal Holdings Inc has agreed to acquire fraud prevention technology company Simility for $120 million in cash, it said on Thursday #AceFinanceDesk reports

#AceFinanceReport – June.22: Palo Alto, California-based Simility sells machine-learning-based technology to help online merchants spot fraudsters and improve risk management: PayPal plans to make Simility’s services available to its merchants following the close of the transaction, which is expected by the end of the third quarter, it said #AceFinanceDesk reports

The acquisition underscores PayPal’s broader ambition to offer small online merchants the same capabilities of bigger e-commerce providers, Bill Ready, the company’s chief operating officer said in an interview: “We are buying a company that provides great tools that merchants can use on their own,” Ready said.

For example, merchants will be able to use Simility’s technology to adjust their fraud controls based on what kind of products they sell………..The acquisition is the fourth deal announced by PayPal in little over a month, as it continues to aggressively expand its business beyond just online payment processing…………….Since separating from online marketplace eBay in 2015, PayPal in San Jose, California, has sought to transform itself via partnerships and acquisitions from mostly processing online transactions for its parent company to offering a suite of digital financial services………….These range from lending to small businesses to facilitating money transfers between merchants and customers…………In May it said it had agreed to acquire Swedish payments company iZettle for $2.2 billion, in its largest ever acquisition. [nL3N1SO5IE.]

PYPL.O

This week it announced an agreement to acquire Hyperwallet Systems Inc, a company that helps online individual and small business sellers accept payments, while earlier this month it revealed plans to buy prediction platform Jetlore……………The Simility deal comes as the threat of fraud for e-commerce companies continues to grow, as more business moves online and fraudsters refine their techniques……….The rate of e-commerce fraud in the United States grew more than 30 percent in 2017 from a year earlier, according to a study by credit bureau Experian Plc.

Simility’s services will benefit from the ability to draw upon PayPal’s extensive data set on fraud, he added…………“We have one of the largest data sets about how online fraud happens,” Ready said.

Reuters Top News: Reporting by Anna Irrera in New York; Editing by Cynthia Osterman: https://t.co/qM0yliQEed

Editor says #AceNewsDesk reports & #Brittius says are provided by Sterling Publishing & Media News and all our posts, links can be found at here Live Feeds https://acenewsroom.wordpress.com/ Ace News Services Posts https://t.me/AceSocialNews_Bot and thanks for following as always appreciate every like, reblog or retweet and free help and guidance tips on your PC software or need help & guidance from our experts AcePCHelp.WordPress.Com or you can follow our breaking news posts on AceBreakingNews.WordPress.Com or become a member on Telegram https://t.me/acebreakingnews all private chat messaging on here https://t.me/sharingandcaring

(BRUSSELS) JUST IN: The European Commission approves $3.2 billion in retaliatory tariffs on US exports: The penalties on products including motorcycles and denim will go into effect Friday #AceFinanceDesk reports

#AceFinanceNews – June.20: The European Commission announced Wednesday that it had approved initial retaliatory tariffs on US exports worth €2.8 billion ($3.2 billion): The tariffs will hit American products including motorcycles, orange juice, bourbon, peanut butter, motor boats, cigarettes and denim. They are a response to the Trump administration’s tariffs on steel and aluminum exports from Europe #AceFinanceDesk reports

“We did not want to be in this position,” said EU trade official Cecilia Malmström. “The unilateral and unjustified decision of the US to impose steel and aluminum tariffs on the EU means that we are left with no other choice.”

The European Union has also filed a case at the World Trade Organization: If the trade dispute continues or is not resolved by the WTO, the European Union said a second batch of American exports worth around €3.7 billion ($4.3 billion) a year could eventually be targeted…………………….That list includes roughly 160 products such as US sunbeds, paper towels, corduroy pants and porcelain tableware.

The United States imposed tariffs on steel and aluminum from the European Union, Canada and Mexico last month. The Trump administration justified the move on national security grounds…………Canada and Mexico have also announced retaliatory tariffs against the United States………..Earlier in June, Mexico imposed a series of tariffs on $3 billion worth of US exports of pork, apples, potatoes, bourbon as well as different types of cheese…………Canada said its tariffs of up to 25% on nearly $13 billion of US products will take effect on July 1.

(BRUSSELS) EU-Franco-German Deal: The European Commission welcomed on Wednesday a joint position of the euro zone’s two biggest countries — Germany and France — on the key elements of deeper euro zone integration calling it a crucial step for reaching an overall agreement #AceNewsDesk reports

#AceFinanceNews – June.20: “ l think the agreement yesterday between President Macron and Chancellor Merkel represents a crucial political step toward an agreement,” European Commissioner for Economic and Financial Affairs Pierre Moscovici told a news conference

“Experience shows that even if an agreement between France and Germany is not enough for an final agreement it is true that an agreement without such an understanding is unthinkable………………The condition sine qua non is that Paris, Berlin and Brussels move forward together,” he said.

Reporting By Jan Strupczewski, Robert-Jan Bartunek and Julia Echikson (Reuters) – https://t.me/reuters_news/47315

Editor says #AceNewsDesk reports & #Brittius says are provided by Sterling Publishing & Media News and all our posts, links can be found at here Live Feeds https://acenewsroom.wordpress.com/ Ace News Services Posts https://t.me/AceSocialNews_Bot and thanks for following as always appreciate every like, reblog or retweet and free help and guidance tips on your PC software or need help & guidance from our experts AcePCHelp.WordPress.Com or you can follow our breaking news posts on AceBreakingNews.WordPress.Com or become a member on Telegram https://t.me/acebreakingnews all private chat messaging on here https://t.me/sharingandcaring

(WASHINGTON) The Dow opens down 325 points on Tuesday after Donald Trump threatens to slap tariffs on an additional $200 billion worth of Chinese goods which the US government says is punishment for intellectual property theft and will be enacted in two waves: More than 800 exports, about $34 billion worth, will be subject to tariffs starting July 6. Another 280 or so still need to undergo a public comment period, and will take effect later #AceFinanceDesk reports

#AceFinanceNews – June.20: President Donald Trump just raised the stakes in the fight with China over trade: The White House said Monday evening that if China goes through with its promise to retaliate against the US tariffs announced last week, the United States will impose tariffs on an additional $200 billion worth of Chinese goods #AceFinanceDesk reports
image1.jpeg
Watch Video

Stocks in Asia sink as Trump ups the stakes in China trade fight

Further action must be taken to encourage China to change its unfair practices, open its market to United States goods, and accept a more balanced trade relationship with the United States,” Trump said in a statement: The Trump administration said Friday that it will impose a 25% tariff on $50 billion of Chinese exports. China, claiming the United States had “launched a trade war,” retaliated almost immediately, outlining its own tariffs on US goods worth $50 billion.

The escalating conflict between the world’s two largest economies has rattled markets and companies, which fear disruption to their global supply chains…………The Chinese Commerce Ministry reacted quickly to Trump’s announcement, accusing the United States of “extreme pressure and extortionist behavior” and warning it would “strike back hard.”

American businesses brace for pain from trade fight with China Trump tariffs, which the US government says are punishment for intellectual property theft, will be enacted in two waves. More than 800 exports, about $34 billion worth, will be subject to tariffs starting July 6. Another 280 or so still need to undergo a public comment period, and will take effect later.

Trump said Monday that China’s response “indicates its determination to keep the United States at a permanent and unfair disadvantage.” China’s tariffs would target agricultural products, cars and seafood, among other items.

“China apparently has no intention of changing its unfair practices related to the acquisition of American intellectual property and technology,” he said. “Rather than altering those practices, it is now threatening United States companies, workers, and farmers who have done nothing wrong.”

He directed Trade Representative Robert Lighthizer to identify $200 billion worth of Chinese goods for additional 10% tariffs, which would be enacted “if China refuses to change its practices, and also if it insists on going forward with the new tariffs that it has recently announced.”

In a separate statement, Lighthizer said that he supported Trump’s action and that his agency “is preparing the proposed tariffs to offset China’s action.”

The planned new wave of tariffs would have to go through a similar process of public consultation and comment as the earlier ones before taking effect.

“If the United States loses its senses and comes up with a new list, China will be forced to strike back hard, and launch comprehensive measures that match the US move in quantity and quality,” the Chinese Commerce Ministry said in a statement Tuesday.

But Beijing faces challenges in retaliating directly: China ships far more goods to the United States ($505 billion last year, according to US figures) than come back in the opposite direction ($130 billion).

To respond to Trump’s threat to impose tariffs on as much as $250 billion worth of Chinese goods, Beijing would have to find other ways to respond.

Analysts say the Chinese government could target trade in services between the two countries rather than physical products. That means things like tourism and education, industries from which the United States benefits a lot more than China does.

Beijing could also seek to make life difficult for big US companies that rely on the Chinese market for a big chunk of their revenue. It showed a willingness to do that to South Korean businesses last year during a period of tension between the two Asian countries.

Trade war: America risks killing the global growth it needs as top US brands such as Apple, GM and Boeing generate large amounts of sales in China.

In an interview with CNN earlier this month, Apple CEO Tim Cook said he didn’t expect a full-blown trade war to break out and dismissed the notion that iPhones, which are assembled in China, would end up subject to tariffs.

But analysts say it’s unclear which government will back down in the confrontation, predicting both economies will be able to withstand the initial waves of tariffs without much impact on overall growth.

“Neither side will be brought to its knees — which is one reason to think the trade dispute could drag on,” research firm Capital Economics said in a note to clients on Friday. “For China’s part, its leaders will be determined not to be seen to back down to foreign pressure.”

More on the days market news and these tariffs here: https://cnnmon.ie/2t8TwEz pic.twitter.com/2J2GWdPGf0

Editor says #AceNewsDesk reports & #Brittius says are provided by Sterling Publishing & Media News and all our posts, links can be found at here Live Feeds https://acenewsroom.wordpress.com/ Ace News Services Posts https://t.me/AceSocialNews_Bot and thanks for following as always appreciate every like, reblog or retweet and free help and guidance tips on your PC software or need help & guidance from our experts AcePCHelp.WordPress.Com or you can follow our breaking news posts on AceBreakingNews.WordPress.Com or become a member on Telegram https://t.me/acebreakingnews all private chat messaging on here https://t.me/sharingandcaring

(WASHINGTON) Despite opposition from the US Congress, Turkey is set to receive its first F-35 Joint Strike Fighters on Thursday during a ceremony in Fort Worth, Texas, the Pentagon said Tuesday as Lockheed Martin will hold a rollout ceremony and the two jets will follow-on to Luke Air Force Base in Arizona at a later date,” Pentagon spokesman Lt. Col. Mike Andrews told CNN #AceFinanceDesk reports

#AceFinanceNews – June.20: Turkish F-35 pilots and maintainers have arrived at Luke Air Force Base and will begin flight academics soon,” he added: Although Turkey has long been a participant in the development of the F-35 program, the US Senate had sought to block Turkey from receiving the stealth warplanes through language in the National Defense Authorisation Act amid a deterioration of the US-Turkey relationship #AceFinanceDesk reports

The Senate’s version of the defense bill expressed concern over Ankara’s planned purchase of the S-400 anti-aircraft system from Russia and what it labeled Turkey’s unlawful and wrongful detention of Andre Brunson, a US citizen: Many US officials have expressed concern that a major Russian military system like the S-400 would be incompatible with the NATO systems used by Turkey’s alliance partners:

Watch: US F-35 jet fighters arrive in Europe
Watch: US F-35 jet fighters arrive in Europe 00:55

The Senate bill also calls on Secretary of Defense James Mattis to submit to Congress “a plan to remove the Government of the Republic of Turkey from participation in the F-35 program” as well as list the “steps required to prohibit the transfer of any F-35 aircraft currently owned and operated, by the Government of the Republic of Turkey, from the territory of the United States.”

A US defense official told CNN that Mattis is opposed to congressional attempts to block Turkey’s receipt of the advanced warplanes. The official says Mattis has been actively engaging with members of Congress in an attempt to ensure that the language in the Senate’s version of the defense bill does not make it into the final version to be signed by President Donald Trump.

The Senate overwhelmingly passed its version of the defense authorization bill on Monday.

Congressional efforts to block the sale to Turkey have drawn criticism from Turkish officials.

Criticism from Turkey

“We have been in that program, including some joint production, production of the parts of F-35s in Turkey,” Turkish Foreign Minister Mevlüt Çavuşoğlu told PBS earlier this month.

“Turkey has been paying the installments on time, on due time. And Turkey have met all the requirements, but you cannot cancel this because of the S-400s that we are buying. It is a totally different issue,” he added, saying Turkey should not be forced to choose between the US and Russia.

Andrews said the Department of Defense “does not comment on proposed legislation,” adding that “Turkey is a close, key NATO ally, and has been an international participant with the F-35 program since 2002.”

The Senate bill still needs to be reconciled with the House’s version and the final version would need to be signed by the President.

Twelve countries participate in the F-35 program. The nine partner nations that participated in the plane’s development include the US, Turkey, UK, Italy, Netherlands, Canada, Australia, Denmark and Norway. All of these countries except for Canada, Denmark and Turkey have already begun receiving deliveries of the F-35 aircraft. Israel, Japan and South Korea have also received the jets through foreign military sales.

Despite opposition from US Congress, Turkey will receive its first F-35 Joint Strike Fighters on Thursday https://cnn.it/2M752HB pic.twitter.com/ySf5N9vHKl

Editor says #AceNewsDesk reports & #Brittius says are provided by Sterling Publishing & Media News and all our posts, links can be found at here Live Feeds https://acenewsroom.wordpress.com/ Ace News Services Posts https://t.me/AceSocialNews_Bot and thanks for following as always appreciate every like, reblog or retweet and free help and guidance tips on your PC software or need help & guidance from our experts AcePCHelp.WordPress.Com or you can follow our breaking news posts on AceBreakingNews.WordPress.Com or become a member on Telegram https://t.me/acebreakingnews all private chat messaging on here https://t.me/sharingandcaring

(PHONM-PENH, Cambodia.) A Cambodian defense official says China has agreed to provide more than $100 million in military aid to the Southeast Asian nation, a close political ally #AceFinanceDesk reports

#AceFinanceNews – June.19: Defence Ministry spokesman Gen. Chhum Socheat said Tuesday that the aid for training, exercise and equipment was agreed upon over the weekend in a meeting between visiting Chinese Defense Minister Wei Fenghe and his Cambodian counterpart Tea Banh. Wei on Monday also met with Prime Minister Hun Sen: Wei’s five-day trip was undertaken to strengthen military ties and attend a China-Cambodia military exhibition. It concludes on Wednesday #AceFinanceDesk reports

Chinese Defense Minister Wei Fenghe arrives at the Peace Palace for a meeting with Cambodian Prime Minister Hun Sen in Phnom Penh, Cambodia Monday, June 18, 2018. Wei in on an official five day visit to Cambodia. (AP Photo/Heng Sinith)

Chinese Defense Minister Wei Fenghe arrives at the Peace Palace for a meeting with Cambodian Prime Minister Hun Sen in Phnom Penh, Cambodia Monday, June 18, 2018. Wei in on an official five day visit to Cambodia. (AP Photo/Heng Sinith)

China is Cambodia’s closest political ally and a major economic supporter, wooing it into its sphere of influence with millions of dollars in aid and investment over the past decade.

(AP) – https://ift.tt/2I5Uaaihttps://t.me/acenewsgroup/597360

Editor says #AceNewsDesk reports & #Brittius says are provided by Sterling Publishing & Media News and all our posts, links can be found at here Live Feeds https://acenewsroom.wordpress.com/ Ace News Services Posts https://t.me/AceSocialNews_Bot and thanks for following as always appreciate every like, reblog or retweet and free help and guidance tips on your PC software or need help & guidance from our experts AcePCHelp.WordPress.Com or you can follow our breaking news posts on AceBreakingNews.WordPress.Com or become a member on Telegram https://t.me/acebreakingnews all private chat messaging on here https://t.me/sharingandcaring