International Trade

Trump assails Canadian tariffs, accuses people of smuggling U.S. goods home

OTTAWA — U.S. President Donald Trump is accusing Canadians of buying products south of the border, then sneaking them back home — all because of what he calls “massive” tariffs on American goods. Trump, speaking to a gathering of small business owners in Washington, is railing again against the North American Free Trade Agreement, saying the U.S. can no longer afford to be the “stupid country.” He says Canada imposes such onerous tariffs on U.S. products — shoes, for instance — that…

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Dow Tumbles as Trump Escalates Trade War With China

Last year, the United States bought a little over $505 billion worth of Chinese goods. Donald Trump is now threatening to slap tariffs on $450 billion worth. And the markets are unnerved. Less than 24 hours after the president dramatically escalated his trade war with China, the Dow Jones Industrial Average tumbled more than 300 points in early trading Tuesday, wiping out all of the index’s gains for 2018. The S&P 500 and Nasdaq each dipped by nearly one percent.…

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US stock markets fall sharply amid fears of global trade war | Business

US stock markets fell sharply on Tuesday morning, following similar drops across the world, as investors feared that escalating tensions could trigger an international trade war. Donald Trump threatened to impose an additional $200bn in levies on Chinese goods on Monday evening, days after the US announced $50bn in tariffs aimed at punishing what the US administration sees as unfair trade practices. China has already said it will retaliate for last week’s move and said it would escalate its response…

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Trump’s midterm strategy emerges – POLITICO

TRUMP’S MIDTERM STRATEGY EMERGES — President Donald Trump’s plan to help Republicans hold onto the House and Senate this fall is now becoming clear and it includes scorched earth immigration policies and trade battles with both our allies (Canada, Mexico, EU) and our adversaries (China). Trump, while attempting to deflect blame to Democrats, is clearly inclined to do nothing to stop the forced separation of children and their parents and the U.S. border that has sparked outrage across the world…

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Oil falls as flaring US-China trade dispute blunts risk appetite

Oil fell on Tuesday as an escalating trade dispute between the United States and China unleashed sharp selloffs in many global markets. The crude price was also dented by expectations that producer group OPEC and partner Russia will gradually increase output in order to make up for involuntary losses in Venezuela and potential shortfalls from Iran, which is facing U.S. sanctions related to its nuclear activity. The United States and China are threatening punitive tariffs on each other’s exports, which…

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No one will win trade war with China (Editorial)

How about a new song for our times, an updated version of “War,” the protest anthem that topped the charts for Edwin Starr back in 1970. It could go something like this: “Trade war —Good God!What is it good for?Absolutely nothing!” OK, so it might not be a big hit, except perhaps with a small group of macroeconomist rockers, but the sentiment surely would ring true. President Donald Trump loves to point to the economy, specifically to the rising stock…

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BUSINESS IN BRIEF 19/6

… . Despite having positive export growth, cashew farmers … the statistics from the International Trade Centre, the Oceanian … ), and Vietnam Construction and Import Export Corporation (Vinaconex). Hoa … distribution network nationwide. Exports are expected to … Source link

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Free trade on agenda as Gen Prayut visits Europe

Thailand is set to address a bilateral Thailand-Britain free trade agreement (FTA) during a six-day European trade mission led by Prime Minister Prayut Chan-o-cha, starting Wednesday. Kobsak Pootrakool, the Prime Minister’s office minister, said Gen Prayut is scheduled to meet Prime Minister Theresa May in Britain on June 20 and an FTA is on the agenda to boost trade and investment. “A Thailand-UK FTA aims to tighten economic alliances after the UK departs from the EU,” said Mr Kobsak. “During…

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South American trade bloc eyes new deals as EU talks…

By Reuters Published: 18:10 EDT, 18 June 2018 | Updated: 18:10 EDT, 18 June 2018 By Daniela Desantis ASUNCION, June 18 (Reuters) – Leaders of South American trade bloc Mercosur pushed for trade deals with Asian and other Western Hemisphere countries during a summit on Monday, as roadblocks remained in talks with the European Union (EU) despite optimism earlier this year. European officials said earlier this month that talks for a long-delayed trade agreement with the Mercosur bloc of Argentina,…

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US stocks recovery from sharp early drop and finish mixed

NEW YORK (AP) — U.S. stocks shrugged off early losses and wound up with a mixed finish Monday. Household goods companies took some of the worst losses as the S&P 500 index fell for the third time in four days. The S&P 500 dropped as much as 22 points early on. Consumer products and packaged foods companies stumbled and drug makers and distributors fell, as did health insurers. That came after indexes in Europe and Asia fell. German stocks took…

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US stocks are mixed; energy firms rise and health care falls

Marley Jay, Ap Markets Writer Updated 11:46 am, Monday, June 18, 2018 FILE- In this Jan. 2, 2018, file photo, a trader talks on his phone before the start of trading at the New York Stock Exchange. The U.S. stock market opens at 9:30 a.m. EDT on Monday, June 18. FILE- In this Jan. 2, 2018, file photo, a trader talks on his phone before the start of trading at the New York Stock Exchange. The U.S. stock market opens at…

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US stocks dip as household goods, health care companies fall

U.S. stocks are mostly lower Monday afternoon as household goods makers and health care companies slump NEW YORK (AP) — U.S. stocks are mostly lower Monday afternoon as household goods makers and health care companies slump. Energy companies are rising with oil prices while technology companies and smaller, more U.S.-focused companies are mixed. Indexes in Europe and Asia are lower, and Volkswagen is down after German authorities detained the CEO of its Audi division as part of an investigation into…

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Apple brings 5G and national security into Qualcomm patent battle – MacDailyNews

“As Apple and Qualcomm’s ongoing legal battle over patent licensing fees continues, the two companies now find themselves before the US International Trade Commission in Washington, D.C., with the chipmaker arguing that iPhones with rival Intel modems should be banned from the country,” Adam Westlake reports for SlashGear. “Apple’s counter position, however, includes arguing that such a move would be a threat to US national security and the development of 5G.” “Recently, Apple has begun using Intel’s 4G modems in…

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ITC indicates Apple breached Qualcomm battery patent

The US International Trade Commission (ITC) has recommended that a trade judge find that Apple infringed at least one of Qualcomm patents, reports Reuters, adding that the move could result in some iPhone imports being blocked. The decision comes after Qualcomm lodged a complaint against Apple nearly a year ago requesting a ban on the import of infringing Intel-based iPhones. The ITC has now indicated that Apple breached one of Qualcomm’s patents around battery-saving technology. The ITC acts as a…

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Reality of China trade tensions demands strong plan to protect family farmers and ranchers

News Reality of China trade tensions demands strong plan to protect family farmers and ranchers 18 June 2018 Farmers Union Calls on Administration to Work with Congress to Bolster Farm Bill as first round of tariffs are applied to Chinese products WASHINGTON – President Donald Trump has announced that his administration will impose 25 percent tariffs on Chinese technology imports to the tune of $50 billion. The first round of tariffs, worth $34 billion, are set to take effect on…

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