The U.S. trade deficit widened in 2018 to a 10-year high of $621 billion, bucking President Donald Trump’s pledges to reduce it, as tax cuts boosted domestic demand for imports while the strong dollar and retaliatory tariffs weighed on exports.
China is offering to lower tariffs on U.S. farm, chemical, auto and other products as part of a trade deal that is nearing completion, a new report says.
Asian stocks rose Monday after news reports said Washington and Beijing are close to reaching an agreement as early as this month to end their costly tariff war.
President Trump on Sunday said the U.S. has made ‘substantial progress’ in trade talks with China and he will no longer increase tariffs on Chinese imports on March 1.
U.S. President Donald Trump has promised European Commission President Jean-Claude Juncker that he will not impose additional import tariffs on European cars, for the time being, Juncker was quoted in a published interview as saying on Monday.
U.S. and Chinese negotiators began trade talks Thursday that President Donald Trump says will help decide whether he escalates a fight over Beijing’s technology ambitions by raising tariffs on $200 billion of imports from China.
Stocks took a tumble Tuesday as the Dow Jones Industrial Average fell nearly 800 points amid renewed fears regarding the U.S.-China trade war and a possible economic slowdown.
Skepticism mounted Tuesday about President Trump’s impromptu trade agreement with the president of China, as Mr. Trump threatened new penalties against Beijing if the deal falls through. Stock markets plummeted.
China specialists in and out of government are increasingly worried that President Trump will make major concessions to China during the Group of 20 economic summit in Argentina this week.
President Trump may follow through as early as December with his threat to impose tariffs on all of China’s exports to the United States.
U.S. and European Union trade negotiators will meet in Washington, D.C., this week to keep the ball rolling on talks first started back in July to reduce nontariffs barriers between the two. Progress may be announced on some minor issues, but other broader agreements are unlikely until next month at least.
Rising US interest rates, tanking emerging market currencies and a bitter US-China trade spat could push the world towards its next financial crisis but there is still time to avert disaster, global finance chiefs have said.
The IMF has cut its global economic forecast for 2018 and 2019, citing above all rising import tariffs between the US and China. A fall in trade volumes and manufacturing orders could hit Germany particularly hard.
The revised trade agreement between Canada, Mexico and the U.S. should buoy automotive manufacturing in North America and give the Trump administration heightened leverage in its trade negotiations with China.
Key consumer tech products have so far mostly escaped the heat of the ongoing trade war. But if U.S. President Donald Trump makes good on his threat to impose tariffs on the full range of Chinese imports into his country, it could hit that sector hard, experts said.
The Trump administration will impose tariffs on $200 billion more in Chinese goods starting next week, escalating a trade war between the world’s two biggest economies and potentially raising prices on goods ranging from handbags to bicycle tires.
The European Union must flex its muscles as a world power, EU chief executive Jean-Claude Juncker said on Wednesday, as he spoke critically of U.S. President Donald Trump’s retreat from international engagement.
The U.S. Department of Agriculture said on Monday its farm aid package would include $4.7 billion in direct payments to farmers to help offset losses from retaliatory tariffs on American exports this season.
President Trump heralded a tentative trade deal with Mexico on Monday as a big win for his get-tough trade policies, which he said put Canada on the spot to start its own negotiations with the U.S. or face higher tariffs on autos.
U.S. and Chinese officials met for the first time in more than two months to try find a way out of their deepening trade conflict, but there was no evidence that the low-key discussions would halt a new round of U.S. tariffs due on Thursday.