Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  Hong Kong Stock Exchange  >  Lenovo Group Limited    992   HK0992009065

LENOVO GROUP LIMITED

(992)
  Report
SummaryChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

Some 3,500 U.S. companies sue over Trump-imposed Chinese tariffs

share with twitter share with LinkedIn share with facebook
09/25/2020 | 11:32pm EDT
FILE PHOTO: Illustration picture showing U.S. dollar and China's yuan banknotes

About 3,500 U.S. companies, including Tesla Inc, Ford Motor Co, Target Corp, Walgreen Co and Home Depot have sued the Trump administration in the last two weeks over the imposition of tariffs on more than $300 billion (£235.35 billion) in Chinese-made goods.

The suits, filed in the U.S. Court of International Trade, named U.S. Trade Representative Robert Lighthizer and the Customs and Border Protection agency and challenge what they call the unlawful escalation of the U.S. trade war with China through the imposition of a third and fourth round of tariffs.

The legal challenges from a wide variety of companies argue the Trump administration failed to impose tariffs within a required 12-month period and did not comply with administrative procedures.

The companies challenge the administration's "unbounded and unlimited trade war impacting billions of dollars in goods imported from the People's Republic of China by importers in the United States," according to a suit filed by auto parts manufacturer Dana Corp.

The suits challenge tariffs in two separate groups known as List 3 and List 4A." List 3 includes 25% tariffs on about $200 billion in imports, while List 4A included 7.5% tariffs on $120 billion in goods.

One suit argues the administration cannot expand tariffs to other Chinese imports "for reasons untethered to the unfair intellectual property policies and practices it originally investigated."

Companies filing suit include heavy truck manufacturer Volvo Group North America, U.S. auto parts retailer Pep Boys, clothing company Ralph Lauren, Sysco Corp, guitar manufacturer Gibson Brands, Lenovo's U.S. unit, Dole Packaged Foods, a unit of Itochu Corp and golf equipment manufacturer Callaway Golf Co.

Home Depot's suit noted it faces tariffs on bamboo flooring, cordless drills and many other Chinese-made products. Walgreen, a unit of the Walgreen Boots Alliance, said it is paying higher tariffs on products like "seasonal novelties; party, first aid, and office supplies; and household essentials."

Lighthizer's office did not immediately respond to requests for comment.

On Sept. 15, the World Trade Organization found the United States breached global trading rules by imposing multibillion-dollar tariffs in Trump's trade war with China.

The Trump administration says tariffs on Chinese goods were justified because China was stealing intellectual property and forcing U.S. companies to transfer technology for access to China's markets.

By David Shepardson


Stocks mentioned in the article
ChangeLast1st jan.
AB VOLVO -1.75% 173.7 Delayed Quote.12.68%
CALLAWAY GOLF COMPANY 2.99% 20.48 Delayed Quote.-6.13%
FORD MOTOR COMPANY -1.18% 7.935 Delayed Quote.-13.66%
HERMAN MILLER, INC. -2.48% 32.87 Delayed Quote.-18.75%
ITOCHU CORPORATION -0.31% 2546.5 End-of-day quote.0.47%
LENOVO GROUP LIMITED 0.60% 5.01 End-of-day quote.-4.21%
NEXTEER AUTOMOTIVE GROUP LIMITED -1.78% 7.17 End-of-day quote.1.56%
RALPH LAUREN CORPORATION -3.11% 74.4 Delayed Quote.-34.48%
SYSCO CORPORATION -3.34% 58.755 Delayed Quote.-28.92%
TARGET CORPORATION -0.64% 156.93 Delayed Quote.23.21%
TESLA, INC. 0.86% 423.4 Delayed Quote.402.33%
THE HOME DEPOT, INC. 0.25% 276.7192 Delayed Quote.26.40%
WALGREENS BOOTS ALLIANCE, INC. -2.35% 36.305 Delayed Quote.-36.89%
share with twitter share with LinkedIn share with facebook
All news about LENOVO GROUP LIMITED
10/23UK watchdog provisionally finds Motorola, Sepura broke competition law
RE
10/20Nokia seeks to block Lenovo sales in Germany over patent licensing
RE
10/12PC Consumer Demand Amid Pandemic Drives Strongest U.S. Market Growth in 10 Ye..
DJ
10/10IBM Split Doesn't Guarantee a Speedy Recovery, History Suggests
DJ
10/09LENOVO : New Realities Project Features 10 Groundbreaking Young Women Changing t..
AQ
10/05Nvidia lays out plan to create new kind of data center chip
RE
09/30LENOVO : Unveils New Predictive and Proactive SaaS Tool for Smarter PC Fleet Man..
AQ
09/30LENOVO : Featherweight X1 Nano is Lightest ThinkPad Ever 1 Pioneering ThinkPad X..
AQ
09/30LENOVO : Expands Stylish ThinkBook Portfolio to Enhance New Working Models
AQ
09/25Some 3,500 U.S. companies sue over Trump-imposed Chinese tariffs
RE
More news
Financials (USD)
Sales 2021 52 639 M - -
Net income 2021 745 M - -
Net Debt 2021 688 M - -
P/E ratio 2021 10,1x
Yield 2021 5,27%
Capitalization 7 720 M 7 720 M -
EV / Sales 2021 0,16x
EV / Sales 2022 0,14x
Nbr of Employees 63 000
Free-Float 57,5%
Chart LENOVO GROUP LIMITED
Duration : Period :
Lenovo Group Limited Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends LENOVO GROUP LIMITED
Short TermMid-TermLong Term
TrendsNeutralBullishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 18
Average target price 0,77 $
Last Close Price 0,64 $
Spread / Highest target 62,6%
Spread / Average Target 20,4%
Spread / Lowest Target -5,69%
EPS Revisions
Managers
NameTitle
Yuan Qing Yang Chairman & Chief Executive Officer
Gianfranco Lanci President & Chief Operating Officer
Wai Ming Wong Chief Financial Officer & Executive Vice President
Arthur Hu Chief Information Officer & Senior Vice President
Yong Rui Chief Technology Officer & Senior Vice President
Sector and Competitors
1st jan.Capitalization (M$)
LENOVO GROUP LIMITED-4.78%7 720
DELL TECHNOLOGIES INC.32.67%50 911
HP INC.-6.96%26 261
GOERTEK INC.120.03%20 387
LOGITECH INTERNATIONAL S.A.72.33%14 367
SEAGATE TECHNOLOGY PLC-14.72%13 091