Dow dives more than 500 points in another wild session
U.S. stocks were whipsawed for a second straight session Thursday, a day after the Dow Jones Industrial Average registered its third-largest point drop in its history.
Trade
Britain sees Brexit progress, again calls on EU to ‘meet us halfway’
Brexit minister Dominic Raab voiced confidence on Tuesday that Britain and the European Union would make progress on their divorce at a summit next week, but again asked the bloc to meet London ‘halfway’ on the most difficult areas.
IMF downgrades global growth outlook, places responsibility on US-China trade tensions
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.
Chinese stocks fall almost 5% in market bloodbath as investors digest a week of bad news in a single day
Chinese stocks took a hammering Monday as traders returned to work after a weeklong holiday in the world’s second-largest economy.
Auto restrictions in Trump trade deal with Mexico, Canada used to pressure China
President Trump’s ability to wangle a new deal from NAFTA partners Mexico and Canada will give the White House leverage to take a harder line in the escalating trade war with China, administration backers said Monday.
NAFTA overhaul paves the way for US, Canada auto-manufacturing rally
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.
Trump sees vindication in new trade deal with Canada, Mexico
President Trump on Monday checked off a major campaign promise that seemed impossible when he made it: rewriting the 24-year-old North American Free Trade Agreement with Canada and Mexico.
As Brexit divisions widen, PM May challenges Brexit critics
Prime Minister Theresa May called on her party on Sunday to unite behind her plan to leave the European Union, making a direct appeal to critics by saying their desire for a free trade deal was at the heart of her Brexit proposals.
Canada-US reach deal to stay in trade pact with Mexico
Canada was back in a revamped North American free trade deal with the United States and Mexico late Sunday after weeks of bitter, high-pressure negotiations that brushed up against a midnight deadline.
Another round of Trump tariffs could mean ‘economic shock waves’ for 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.
Trump defends ‘America ‘first,’ threatens to cut foreign aid budget in U.N. speech
President Trump told the United Nations on Tuesday that the U.S. is guided by patriotism instead of globalism, rejecting the authority of world bodies such as the International Criminal Court, the World Trade Organization and a U.N. migration initiative even as he praised the U.N. itself as a force for peace.
EU, Iran set financial “vehicle” to ease trade between them
Five world powers and Iran agreed late Monday to establish a financial facility in the European Union to facilitate payments for Iranian imports and exports including oil, a key move sought by Tehran following the U.S. pullout from the 2015 nuclear deal and its re-imposition of sanctions.
Trump imposes tariffs on $200B more of Chinese goods
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.
Putin, Xi together for the third time this year as Russia launches largest war games since Cold War
Russian President Vladimir Putin and his Chinese counterpart Xi Jinping met in far-eastern Russia on Tuesday, the same day the Kremlin began its biggest military exercise since the Cold War.
US, Canada will meet Tuesday, earlier than expected on NAFTA
The U.S. and Canada will resume high-level talks on Tuesday, which is earlier than expected, on the North American Free Trade Agreement (NAFTA).
NAFTA talks make progress; U.S., Canadian officials to work into night
The United States and Canada have made progress in talks to revise the North American Free Trade Agreement, and officials from the two sides will work together into the night to flesh out areas for further discussion, Canadian Foreign Minister Chrystia Freeland said on Wednesday.
US trade deficit surges, hits all-time highs with China and EU
According to data released by the US Commerce Department on Wednesday, the US trade gap increased 9.5 percent to $50.1 billion in July, from a revised $45.7 billion in the prior month.
Trump team and Canada officials resume talks to revamp NAFTA
Trump administration officials and Canadian negotiators are resuming talks to try to keep Canada in a North American trade bloc with the United States and Mexico.
Turkey calls US ‘wild wolves’, vows to abandon dollar in trade
Turkish President Recep Tayyip Erdogan on Sunday vowed Ankara would pursue non-dollar transactions in trade with Russia and other countries, accusing the US of behaving like ‘wild wolves.’
Trump threatens to pull US out of World Trade Organization
President Donald Trump has threatened to withdraw the US from the World Trade Organization (WTO) if the body fails to change the way it treats America.