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  • Current Event
    5 years ago
    by junglman
    +38 +1

    China announces it's imposing new tariffs on 128 US products

    China is implementing new tariffs on meat, fruit and other products from the U.S. as retaliation for American duties, heightening fears of a potential trade war between the world's two largest economies. Beijing's latest move, announced by its finance ministry in a statement dated April 1, is direct retaliation against taxes approved by President Donald Trump on imported steel and aluminum. Chinese officials had been warning over the last few weeks that their country would take action against the U.S.

  • Current Event
    5 years ago
    by socialiguana
    +18 +1

    Trump: 'We are not in a trade war with China, that war was lost many years ago'

    President Donald Trump tweeted Wednesday that the U.S. is not in a trade war with China – and "that war was lost many years ago" by previous U.S. leadership. "We are not in a trade war with China, that war was lost many years ago by the foolish, or incompetent, people who represented the U.S.," Trump said.

  • Video/Audio
    5 years ago
    by geoleo
    +9 +1

    Why China is targeting US hogs and Harleys

    How did livestock and motorcycles become unlikely weapons in a looming trade war between the United States and China? The BBC's Anthony Zurcher has the answers.

  • Current Event
    5 years ago
    by geoleo
    +18 +1

    China's Xi renews vow to open economy, cut tariffs as U.S. trade row deepens

    Chinese President Xi Jinping promised on Tuesday to open the country’s economy further and lower import tariffs on products like cars, in a speech seen as an attempt to defuse an escalating trade dispute with the United States. While much of his pledges were reiterations of previously announced reforms that foreign businesses say are long overdue, Xi’s comments sent stock markets and the U.S. dollar higher on hopes of a compromise that could avert a trade war.

  • Current Event
    5 years ago
    by cone
    +7 +1

    Why Made in China 2025 is at the centre of US trade tensions

    Policy documents don't usually attract this much attention, but China's hi-tech manufacturing plan could have a dramatic effect on global trade. Made in China 2025 is a 10-year industrial development plan, but businesses and governments around the world are concerned it will have a dramatic effect on global trade. Chinese state media has even accused the United States of trying to provoke a trade war in order to undermine the policy. Ambitious, long-term policy documents don't always attract this much attention, so let's have a look at why this one is different.

  • Current Event
    5 years ago
    by gottlieb
    +3 +1

    US: Punitive China tariffs on hold

    China and the US say they will halt imposing punitive import tariffs, putting a possible trade war "on hold". The deal came after talks in the US aimed at persuading China to buy $200bn (£148bn) of US goods and services and thereby reduce the trade imbalance. US Treasury Secretary Steven Mnuchin did not give figures, but said the US would impose tariffs worth $150bn if China did not implement the agreement.

  • Current Event
    5 years ago
    by gottlieb
    +8 +1

    U.S.-China trade deal 'too hard to get done,' Trump says

    U.S. President Donald Trump on Wednesday signaled a new direction in U.S. and China’s trade talks, saying the current track appeared “too hard to get done” and that any possible deal needed “a different structure.

  • Current Event
    5 years ago
    by 66bnats
    +9 +1

    US to hit EU with steel and aluminum tariffs, report says

    The Trump administration is reportedly planning to impose import tariffs on European steel and aluminum after finding no satisfaction in its effort to win trading concessions on the issue. An announcement dropping the EU from an exemption to global tariffs of 25% on imported steel, and 10% on aluminum, could come on Thursday, according to the Wall Street Journal.

  • Current Event
    5 years ago
    by socialiguana
    +4 +1

    Dow drops more than 200 points as Trump tariffs reignite trade-war fears

    Stocks fell on Thursday after President Donald Trump slapped tariffs on the European Union, Mexico and Canada, sparking fears the U.S. could enter a trade war with some key partners. The Dow Jones industrial average dropped 251.94 points to close at 24,415.84, with Boeing contributing the most losses to the index. The S&P 500 declined 0.7 percent to 2,705.27 as consumer staples lagged. The Nasdaq composite, meanwhile, pulled back 0.3 percent to 7,442.12.

  • Current Event
    5 years ago
    by everlost
    +3 +1

    Macron calls US tariffs an 'illegal' decision

    French President Emmanuel Macron on Thursday said he "deplored" the US move to impose harsh tariffs on steel and aluminium imports from the European Union, declaring it an "illegal" decision. Warning about "nationalism", Macron told journalists he would talk later on Thursday with US President Donald Trump.

  • Current Event
    5 years ago
    by rexall
    +3 +1

    US sanctions have a weak spot: tiny allies like Latvia

    When the U.S. hit North Korea with sanctions last year, Pyongyang’s state-owned banks found a quiet backchannel to keep money flowing to the country’s ballistic missile programs, the U.S. says: the tiny European country of Latvia. One of the biggest banks in Latvia — a member country of the European Union and NATO — built a business from processing illegal money transfers, enabling North Korea to continue to procure missiles, the U.S. government says.

  • Current Event
    5 years ago
    by 66bnats
    +3 +1

    How 'Trump wrote a cheque for $600 million' to Canada's aluminum producers

    Trade actions like the ones taken by the Trump administration this week are intended to inflict pain, and the steel and aluminum tariffs levied by the Trump administration are unwelcome developments for both industries in Canada. But the harm will fall disproportionately on producers of steel, rather than aluminum — and not only because the tariff on steel (25 per cent) is higher than the one on aluminum (10 per cent).

  • Current Event
    5 years ago
    by ilyas
    +18 +1

    Britain won't sign any U.S. trade deal if it's not in UK interest:...

    Britain won't sign up to any trade deal with the United States if it is not in its own interest, trade minister Liam Fox said on Saturday, after U.S. tariffs on metals imports drew a rebuke from one of Washington's major European allies.

  • Current Event
    5 years ago
    by zritic
    +11 +1

    The Latest: China warns US no deal if tariffs go ahead

    The Latest on trade talks between the U.S. and China (all times local): 2:05 p.m. China has warned any agreements with Washington in their talks on settling a sprawling trade dispute "will not take effect" if threatened U.S. sanctions including tariff hikes go ahead. The statement Sunday came shortly after delegations led by U.S. Commerce Secretary Wilbur Ross and China's top economic official, Vice Premier Liu He, held another round of talks on China's pledge to narrow its trade surplus with the United States by purchasing more American goods.

  • Current Event
    5 years ago
    by hedman
    +10 +1

    Mexico hits back with $3 billion in tariffs on U.S. products

    Retaliating for tariffs imposed by the Trump administration, Mexico hit back Tuesday with fiscal penalties on U.S. exports like pork, steel, cheese and whiskey. The Mexican tariffs, announced last week, officially took effect Tuesday.

  • Expression
    5 years ago
    by zritic
    +16 +1

    Canadian government pushing back against Trump’s proposal for separate trade deals

    The Canadian government is rejecting a push by the Trump administration to strike separate, bilateral trade deals with Canada and Mexico instead of pushing ahead with a stalled effort to renegotiate the North American Free Trade Agreement. Ottawa’s refusal Tuesday to pursue a one-on-one trade deal with the United States came after Donald Trump’s top economic adviser said the president was serious about pursuing bilateral agreements with its NAFTA partners.

  • Current Event
    5 years ago
    by geoleo
    +12 +1

    China is working to change global commodities trading — to its own benefit

    Chinese exchanges are wooing international commodities traders in a bid to overtake longstanding benchmark prices — many of which are set in Europe and the U.S. — reflecting ambitious plans by the world's second-largest economy to expand its influence overseas. In the last few months, Chinese exchanges have opened up the trading of derivatives products for a few major commodities to international participants.

  • Current Event
    5 years ago
    by everlost
    +13 +1

    Macron calls on G7 members to confront Trump over trade

    Emmanuel Macron has called on other members of the G7 to stand up to Donald Trump’s trade policies in the face of what he described as the threat of a new US “hegemony”. The French president was speaking alongside the Canadian prime minister, Justin Trudeau, who is hosting the G7 summit in Quebec amid sharp disagreements between the US president and the six other leaders of industrialized liberal democracies over trade, climate change and the nuclear deal with Iran.

  • Current Event
    5 years ago
    by doodlegirl
    +8 +1

    Trump floats scrapping all tariffs, barriers at G-7 summit: report

    President Trump reportedly asked world leaders at the Group of Seven Summit on Friday to consider "no tariffs" at all amid growing tensions over the administration's trade moves. Politico, citing officials who listened and took notes of the discussions, reported that Trump told assembled world leaders that “we should at least consider no tariffs, no barriers — scrapping all of it." The newspaper reported that the idea was challenged Canadian Prime Minister Justin Trudeau, who is hosting the summit in Quebec.

  • Current Event
    5 years ago
    by geoleo
    +8 +1

    Trade war with Canada 'the apex of stupidity'

    Lamenting the unequal and contentious relationship between his country and the United States, 19th-century Mexican President Porfirio Díaz remarked: “Poor Mexico, so far from God and so close to the United States.” Take out “Mexico” and insert “Canada,” and no doubt that you will be reading the mind of Prime Minister Justin Trudeau today.