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  • Current Event
    1 year ago
    by baron778
    +25 +1

    The US just picked a nasty trade fight with Canada — and it’s likely to backfire

    The US just slapped an astronomical 220 percent tariff on a new line of Bombardier jets after Boeing accused the Canadian company of receiving unfair government subsidies. It’s an incredibly harsh penalty that has angered two of America’s closest allies, Canada and the United Kingdom (where Bombardier manufactures this line of jets’ wings and provides thousands of jobs). Those countries have threatened to retaliate against the US by dropping contracts with Boeing for defense aircraft, potentially costing thousands of US jobs.

  • Current Event
    8 months ago
    by grandtheftsoul
    +1 +1

    The Rise of China and the Fall of the ‘Free Trade’ Myth

    ‘America first does not mean America alone,” President Trump declared last month at the World Economic Forum in Davos, Switzerland. This sudden burst of pragmatism from an avowed nationalist showed what a difference a year can make. Denouncing the “false song of globalism” during his presidential campaign, Trump, on his third full day in office, canceled the Trans-Pacific Partnership, a regional trade deal with Japan and 10 other countries.

  • Current Event
    7 months ago
    by socialiguana
    +18 +1

    China Warns It May Retaliate If U.S. Imposes Metal Tariffs

    China said proposed U.S. tariffs on imported steel and aluminum products are groundless and that it reserves the right to retaliate if they are imposed. The U.S. recommendations, unveiled by the Commerce Department on Friday, aren’t consistent with the facts, Wang Hejun, chief of the trade remedy and investigation bureau at China’s Ministry of Commerce, said in a statement posted on its website.

  • Current Event
    7 months ago
    by ticktack
    +15 +1

    U.S. trade deficit hits more than nine-year high as exports falter

    The U.S. trade deficit increased to a more than nine-year high in January, with the shortfall with China widening sharply, suggesting that President Donald Trump’s “America First” trade policies are unlikely to have a material impact on the deficit. The trade deficit continues to widen a year into the Trump presidency. Trump, who claims that the United States is being taken advantage of by its trading partners, has imposed tariffs on imports of some goods to shield domestic industries. The protectionist measures have sparked fears of a trade war.

  • Current Event
    7 months ago
    by socialiguana
    +14 +1

    Trump’s plan for China tariffs ‘could devastate US economy’

    American Chamber of Commerce warns that US President’s plan could prompt destructive trade war that would have serious impact on businesses and families 

  • Current Event
    6 months ago
    by messi
    +8 +1

    Trump is on path to full-scale trade war: first China, then Europe

    Much to the delight of Hollywood, Donald Trump wants to open a new front in his trade offensive by punishing China for theft of America’s intellectual property rights. The US entertainment industry is not awfully keen on Trump, having strongly backed Hillary Clinton in the 2016 election, but is even less keen on its movies and TV shows being ripped off by the world’s most populous country.

  • Current Event
    6 months ago
    by jedlicka
    +3 +1

    China poised to open markets 'beyond expectations' as tough US tariffs loom, envoy says

    A Chinese envoy to the US offered easier access to China's markets for foreign investors, promising reforms "beyond expectations", as Washington moves to institute punishing trade and other sanctions against Beijing for rules that restrict foreign participants.

  • Current Event
    6 months ago
    by rawlings
    +2 +1

    Read China's furious response to America's US$60b tariffs in full

    ‘If a trade war were initiated by the US, China would fight to the end to defend its own legitimate interests with all necessary measures’

  • Current Event
    6 months ago
    by messi
    +11 +1

    China plans tariffs on $3 billion of U.S. imports, including California specialties

    China announced plans for reciprocal tariffs on $3 billion of imports from the United States — including fruit and wine, which are California specialties — after President Trump’s move to order levies on Chinese goods sent markets plunging. China's planned tariffs also target pork and steel pipes.

  • Current Event
    6 months ago
    by rhingo
    +13 +1

    U.S. steel tariffs meet barrage of criticism at WTO

    U.S. President Donald Trump’s steel and aluminum tariffs met a barrage of criticism at a World Trade Organization meeting on Friday, as the European Union, Japan, Australia and others joined a debate started by China and Russia.

  • Current Event
    6 months ago
    by Maternitus
    +15 +1

    Petro-yuan helps Russia & China dump US dollar in oil trade

    China is the world's biggest crude consumer and buys most of its oil from Russia. However, most settlements are still in US dollars. The launch of the petro-yuan now allows Moscow and Beijing to use national currencies instead.

  • Current Event
    6 months ago
    by distant
    +17 +1

    Forty-four countries sign historic African Union free trade agreement

    Forty-four African countries have signed up to a historic trade agreement aimed at paving the way for a liberalized market for goods and services across the continent. The African Continental Free Trade Area (AfCFTA), an agreement cast in the mold of the European Union’s version was signed during the 10th Ordinary Session of African Union Heads of State summit held in the Rwandan capital, Kigali.

  • Current Event
    6 months ago
    by geoleo
    +17 +1

    China imposes tariffs on over 125 US imports as fears of trade war grow

    China is imposing tariffs on more than 125 US imports including fruit and pork, heightening fears of a trade war between the two countries. Tariffs of up to 25 per cent go into effect on Monday as President Xi Jinping's government followed through on a threat to impose the measures.

  • Current Event
    6 months 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
    6 months 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
    6 months 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
    6 months 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 months 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
    4 months 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
    4 months 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
    4 months 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
    4 months 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
    4 months 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
    4 months 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
    4 months 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
    4 months 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
    4 months 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
    4 months 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
    4 months 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
    4 months 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
    4 months 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
    4 months 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
    4 months 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.

  • Current Event
    4 months ago
    by geoleo
    +9 +1

    Trade war: EU to put tariffs on US after Trump’s ‘depressing’ tweets

    Europe will implement counter-measures against US tariffs on steel and aluminium, German Chancellor Angela Merkel said on Sunday, voicing regret about President Donald Trump’s abrupt decision to withdraw support for a Group of Seven communique.

  • Current Event
    4 months ago
    by wetwilly87
    +14 +1

    Donald Trump accuses India of charging 100% tariff, says trade might stop

    President Donald Trump has taken a swipe at India along with the world's other top economies and accused New Delhi of charging 100 per cent tariff on some of the US' goods, as he threatened to cut trade ties with countries who are robbing America. Trump made the remarks in Canada's Quebec City where he was attending the G7 summit that ended in farce after he abruptly rejected the text of a consensus statement and bitterly insulted the host.