U.S. Economic Indicators

New factory orders for manufactured goods rose 1.8% in December following a 1.2% (revised) decrease in November but are down 0.6% compared to a year ago. New orders excluding transportation were up 0.6%, while new orders for nondefense capital goods excluding aircraft fell 0.8%. Census Bureau Report

U.S. News

Bloomberg reports that the U.S. Commerce Department has announced new rules that would clear the way for the U.S. to start imposing punitive tariffs on goods from countries accused of having undervalued currencies, even if such countries have not been found guilty of currency manipulation by the U.S. Treasury. The new rule would allow U.S. companies to file complaints over specific imported products by treating undervalued currencies as a form of unfair subsidy. Bloomberg

According to the New York Times, the rapidly spreading coronavirus is likely to slow China’s progress in meeting its commitments under the initial U.S.-China trade deal. With factories and stores closed throughout China and officials focused on containing the virus, Beijing has less capacity to start purchasing the large amounts of American products necessary to fulfill the terms of the deal. NYT