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by Douglas Gillison Agence France Presse WASHINGTON, United States (AFP) — An Iowa Republican jokes that US President Donald Trump’s trade war with China has him thinking of jumping out a window. But a five hour drive to the south, an Illinois Democrat cheers the local steel mills that Trump’s punishing import tariffs have brought roaring back to life. Though by no means the top issue on voters’ minds nationwide, Trump’s multi-front trade battles have […]
HONG KONG, China (AFP) — Asian markets staged a rare rally Wednesday following a bounce on Wall Street, with attention turning to the release of key US jobs data later in the week. However, while investors briefly have a spring in their step, a mountain of problems — from China-US trade tensions and Brexit, to Chinese weakness and rising US interest rates — is keeping optimism at a premium. October has been a painful month […]
by Michel Comte Agence France Presse OTTAWA, Canada (AFP) — An overhaul of global trade is urgently needed, 13 trade ministers representing all regions of the world said Thursday, following two days of talks in Ottawa aimed at setting objectives to reform the troubled system. The group made a veiled appeal to the United States to stop blocking appointments to WTO dispute resolution panels, warning the system will otherwise collapse soon. Leaders also said […]
WASHINGTON, United States (AFP) — The Trump administration announced Wednesday that it plans to withdraw from an international treaty on postal rates in another moved aimed at pressuring China amid broader trade and political disputes. The United States intends to exit the system of setting postal rates for smaller packages under the Universal Postal Union “as soon as practical” and no later than Jan. 1, 2020, said a statement released by the White House press […]
by Delphine TOUITOU Agence France Presse WASHINGTON, United States (AFP) — US officials announced Tuesday negotiations for separate trade agreements with Britain, the European Union and Japan as part of efforts by President Donald Trump’s administration to rebalance global commerce. US Trade Representative Robert Lighthizer said the administration notified Congress of its intent to negotiate the three separate trade agreements. “We are committed to concluding these negotiations with timely and substantive results for American workers, […]
WASHINGTON, United States (AFP) — US Treasury Secretary Steven Mnuchin warned China on Wednesday against engaging in competitive currency devaluations as the two countries wage a trade war, in comments published in the Financial Times. There are several factors behind the recent fall in the Chinese yuan, or renminbi (RMB), including economic issues in China, Mnuchin he told the newspaper ahead of meetings in Bali, Indonesia of the IMF, World Bank and G20. “As […]
by Sebastian Smith Agence France Presse WASHINGTON, United States (AFP) — President Donald Trump on Monday hailed a US trade pact with Canada and Mexico, which replaces the old NAFTA deal, as a historic agreement set to turn North America back into a “manufacturing powerhouse” and fuel US economic expansion. Governing almost $1.2 trillion in trade, the pact is known as the United States-Mexico-Canada Agreement, or USMCA, is “the most important trade deal we’ve ever […]
by Michel COMTE Agence France Presse OTTAWA, Canada (AFP) — Any fondness between Justin Trudeau and Donald Trump has vanished, it became clear Thursday after the Canadian leader brushed off the US president’s criticism of Canada’s negotiating style in continental trade talks — casting doubts for a quick deal. Trudeau said Trump views the negotiations to revamp the North American Free Trade Agreement (NAFTA) as hard “because Canadians are tough negotiators, as we should be.” […]
by Damon Wake Agence France Presse BRUSSELS, Belgium (AFP) — As doubts grow over China’s vast “Belt and Road” trade infrastructure project, the EU is launching an alternative plan for Asia that it says will not saddle countries with debt they cannot repay. EU member countries are expected to sign off on the new “Asia connectivity strategy” — which aims to improve transport, digital and energy links while promoting environmental and labor standards — […]
WASHINGTON, United States (AFP) — China has pulled the plug on a US warship’s scheduled visit to Hong Kong, and scrapped plans for a top admiral to meet with his US counterpart in Washington, officials said Tuesday. The moves come as trade tensions soar between Beijing and Washington, which this week enacted new tariffs against China covering another $200 billion of its imports. The USS Wasp, an amphibious assault ship, was due to visit Hong […]
by Ryan MCMORROW Agence France Presse BEIJING, China (AFP) — China said on Tuesday it was impossible to hold trade talks with the United States while Washington is imposing tariffs that are like “holding a knife to someone’s throat”. Speaking a day after Washington activated tariffs on $200 billion in Chinese goods, vice commerce minister Wang Shouwen said China is open to negotiations but that the two sides must treat each other “equally and with […]
by Heather Scott with Ryan McMorrow in Beijing Agence France Presse WASHINGTON, United States (AFP) — Donald Trump’s threatened tariffs on another $200 billion of Chinese imports took effect on Monday, escalating a trade war between the world’s top two economies that is clouding the global outlookM The latest volley against Beijing brings the amount of goods hit by duties to more than $250 billion, covering roughly half of Chinese exports to the United States, […]
