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Tag Archives: trade war

‘Trump’s comments unhelpful’

President Trump’s heated comments are unprecedented and unhelpful, Dalton McGuinty, the former premier of Ontario has said. Speaking to Gulf News on the statements that President Trump made following the G7 summit and its fallout, McGuinty said Canadians stood firmly behind their Prime Minister Trudeau. “Canadians are united behind Prime …

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Trump is starting a global trade war

America’s biggest allies and trade partners are promising to fight back against US tariffs that threaten to spark a global trade war. The European Union, Canada and Mexico said Thursday that they will respond to new US tariffs on steel and aluminum with punitive measures targeting American products worth billions …

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Trump considering steep car import tariff

The US Commerce Department said Wednesday it launched an inquiry that could allow the Trump administration to impose tariffs on auto imports over national security concerns. Commerce Secretary Wilbur Ross announced he initiated a so-called Section 232 investigation on auto trade — which would provide the legal basis to impose …

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WTO chief calls for calm over tariffs

The World Trade Organization chief warned on Friday that creating barriers to international trade would “jeopardise the global economy,” after Washington slapped steep tariffs on Chinese imports, heightening fears of a trade war. “Disrupting trade flows will jeopardise the global economy at a time when economic recovery, though fragile, has …

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EU readies tax on US tech titans

The European Union will next week unveil plans for a digital tax on US tech giants like Facebook, Amazon and Google as transatlantic tensions flare over prospects of a trade war. The move is aimed at recovering billions from multinationals that divert European earnings to low-tax countries, and opens a …

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Asean, Australia reject protectionism

The Association of Southeast Asian Nations (Asean) and Australia reject protectionism, Australian Prime Minister Malcolm Turnbull and his Singapore counterpart said on Friday, amid fears about a possible trade war sparked by U.S. plans to raise tariffs on steel and aluminium imports. “You don’t grow stronger by closing the door …

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Lagarde warns trade wars are seldom ever won

No one emerges victorious from a trade war, International Monetary Fund chief Christine Lagarde said on Wednesday, warning that the economic impact of US import tariffs would be serious if other countries respond with their own barriers. On Tuesday, US President Donald Trump reiterated his plan to slap big tariffs …

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Markets suffer Trump slump on trade war fears

Donald Trump’s controversial decision to slap tariffs on steel and aluminium imports sent world stock markets slumping on Friday as the move fuelled fresh fears of a global trade war, dealers said. Traders, already on edge over worries about rising US interest rates, followed Wall Street sharply lower after the …

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