Tag Archives: trade war

By Sarah Safa   A new phase of reconciliation could finally begin to define the US relations with China after nearly two years of commercial and economic tensions. Those tensions have been shaking the balance and stability of the international system, what brought on the surface divergences for the first time …

Throughout history certain metals have been critical for defense.  During the Greek era, it was bronze.  During the Roman Empire, it was iron.  In the late 19th Century and early 20th Century, it was copper. In fact, copper was so critical during the American Civil War that the Confederates sent …

The US economy is expanding faster than any other advanced nation, and in weeks will hit a historic milestone, but the International Monetary Fund is warning of building signs of trouble. In its annual review of the US economy, the IMF warned that “material risks” overshadow the outlook, including trade …

Chinese stocks plunged once again Thursday as fears about trade tensions with the US brought turmoil back to the country’s markets after a few brief days of respite. At the close of play in China, the Shanghai Composite — the country’s benchmark index — fell by more than 2.9%, dropping …

President Donald Trump’s accusation of Chinese meddling in upcoming U.S. elections marks a new phase in an escalating pressure campaign against Beijing that Washington is pursuing on multiple fronts, senior U.S. officials said on Thursday. National security adviser John Bolton, long considered a China hawk, has played a key role …

US President Donald Trump on Monday defied warnings and escalated the trade confrontation with China, hitting the country with tariffs starting next week on another $200 billion (Dh734.5 billion) in imports and threatening to target even more if Beijing retaliates. Trump said China had refused to change the unfair practices …

President Vladimir Putin appeared to take another thinly veiled swipe at Trump’s economic policies on Wednesday, a day after Russia and China vowed to stand together to fight protectionism. “The world and global economy are coming up against new forms of protectionism today with different kinds of barriers which are …

China told the World Trade Organization (WTO) on Tuesday it wanted to impose $7 billion a year in sanctions on the United States in retaliation for Washington’s non-compliance with a ruling in a dispute over U.S. dumping duties. The request for authorization from the WTO to introduce the sanctions is …

Oil is expected to remain volatile this quarter, and the next, as different factors pull prices in opposite directions, analysts say. On the supply side, sanctions on Iranian crude exports, and deeper production losses in Venezuela, are expected to push prices upwards but increased output from Organisation of the Petroleum …

Philippine President Rodrigo Duterte on Saturday blamed US President Donald Trump after inflation hit a nine-year high in the Philippines, hurting the image of the populist leader. It was an unexpected claim from the fiery Duterte, a one-time fierce critic of the United States but who has since embraced Trump …

Apple Inc, the world’s most valuable company, said proposed US tariffs on $200 billion (Dh734.6 billion) worth of products imported from China will raise prices for some of its popular consumer goods such as the Apple Watch and AirPods headphones. The Mac mini desktop computer, Apple Pencil stylus accessory for …

US stock index futures fell on Friday, ahead of the long holiday weekend, with investors wary after President Donald Trump’s latest salvo in Washington’s trade war with China. Wall Street snapped a four-day winning streak on Thursday after Bloomberg reported Trump was ready to impose tariffs on $200 billion (Dh735 …

President Donald Trump on Thursday reportedly rejected as “not good enough” a European Union proposal scrapping tariffs on automobiles, a move which threatens to amplify a simmering trans-Atlantic trade dispute. Just hours earlier, the EU Trade Commissioner Cecilia Malmstroem had said the bloc was “willing to bring down… our car …

Now that U.S. President Donald Trump has bagged a political victory in the form of a trade deal with Mexico, the country’s ongoing dispute with China looks set to drag on, experts said. Mexico is “an important trading partner” of the U.S. and the deal offers Trump “some wins from a political perspective that the administration …

The prospect of a quick deal between Mexico and the United States retreated on Friday as disagreements over energy flared up and conflict over autos persisted in the renegotiation of the North American Free Trade Agreement (NAFTA). Since talks resumed last month, US and Mexican negotiators have focused on reaching …

A new round of U.S. tariffs on $16 billion worth of Chinese imports kicked in on Thursday, prompting Beijing to retaliate with its own levies on American goods worth the same amount. The latest trade escalation comes as officials from the world’s two largest economies meet for tariff negotiations in …

Chinese oil importers are shying away from buying US crude as they fear Beijing’s decision to exclude the commodity from its tariff list in a trade dispute between the world’s biggest economies may only be temporary. Not a single tanker has loaded crude oil from the United States bound for …

China will send a senior negotiator to the United States in late August to resume trade talks, its commerce ministry said on Thursday, the first public meeting on the dispute in weeks as the trade conflict intensifies. Beijing and Washington have slapped tariffs on tens of billions of dollars worth …

Qatar pledged $15 billion (Dh55.09 billion) of investment in Turkey that will be channeled into Turkish financial markets and banks, a government source told Reuters yesterday. The investment package was announced after Qatar’s Emir Tamim Bin Hamad Al Thani met President Tayyip Erdogan in Ankara, as Turkey grapples with a …

Russian Foreign Minister Sergei Lavrov says Russia has been exploring for some time using national currencies to settle bilateral trade deals with Turkey and other countries. Lavrov, who was speaking at a news conference with his Turkish counterpart in Ankara, said on Tuesday that the US dollar’s role as a global trade …

Turkish President Recep Tayyip Erdogan vowed to boycott American electronics, including Apple Inc.’s iPhone, as he retaliates against Donald Trump’s attempts to isolate his economy. After the US imposed sanctions on two Turkish ministers and amid growing domestic pressure from businesses and banks to contain a currency crisis, Erdogan said …

As trade tensions between the U.S. and China continue to escalate, Chinese officials announced Friday the country tested its first hypersonic flight vehicle capable of carrying nuclear weapons — and allegedly able to penetrate any missile defense system. The China Academy of Aerospace Aerodynamics, run by state-owned space contractor China …

Russian aluminium giant Rusal’s quarterly profit surged thanks to higher market prices for the metal, despite sanctions imposed by Washington. Recurring net profit of Hong Kong-listed Rusal, the world’s largest aluminium producer outside China, was up 75 per cent from a year ago in the second quarter, but 17 per …

China’s proposed tariffs on US liquefied natural gas and crude oil exports opens a new front in the trade war between the two countries, at a time when the White House is trumpeting growing US energy export prowess. China included LNG for the first time in its list of proposed …

China offered Britain talks on a post-Brexit free trade deal on Monday, reaching out to London as Beijing remains mired in an increasingly bitter trade war with Washington, even as a senior Chinese diplomat reiterated its door remained open for dialogue. China has been looking for allies in its fight …

Oil prices are likely to trend lower this week due to the rise in trade tensions as well as the ramping of oil production by major oil producers like Saudi Arabia and Russia, experts said. Saudi Arabia, along with UAE, Kuwait and Russia, are increasing production close to one million …

Brazil, Russia, India, China and South Africa want a rules-based multilateral trade system as embodied by the World Trade Organisation to be central to global commerce as the Brics block’s biggest member faces billions of dollars of additional tariffs from the US. “We recognise that the multilateral trading system is …

President Trump announced Wednesday that he has secured major trade concessions from European Union officials as part of an effort to head off a trade war between the U.S. and the E.U. After talks at the White House with E.U. officials, Trump announced in a joint Rose Garden appearance that …

Finance ministers and central bankers from the world’s largest economies meeting in Argentina said heightened trade and geopolitical tensions risk derailing global growth and called for greater dialogue, according to a draft communique. The weekend talks in Buenos Aires come amid an escalation in rhetoric in the trade conflict between …

China is waging a “quiet kind of cold war” against the United States, using all its resources to try to replace America as the leading power in the world, a top CIA expert on Asia said Friday. Beijing doesn’t want to go to war, he said, but the current communist government, under …

Saudi Aramco is winning thanks to US President Donald Trump’s trade war with China. Sales of liquefied petroleum gas by the state-run producer to China — one of its biggest Asian customers — this year have already reached 90 per cent of all shipments in 2017, according to data from …

The European Union’s trade commissioner said on Thursday she hopes an EU mission to Washington will ease a transatlantic trade dispute but the bloc is preparing a list of US imports to hit if the United States imposes tariffs on EU cars. Trade Commissioner Cecilia Malmstrom will travel to Washington …

China’s economy expanded at a slower pace in the second quarter as Beijing’s efforts to contain debt hurt activity, while June factory output growth weakened to a two-year low in a worrying sign for investment and exporters as a trade war with the United States intensified. The world’s second-largest economy …

Less than a week into President Donald Trump’s trade war with China, global automakers have shown there are ways to bypass the battle — and scoring a win for Beijing in the process. Tesla Inc. and BMW AG are among the biggest potential losers from Beijing’s retaliatory tariffs on car …

Some said the day would never come, that it was all a bluff. But as the Independence Day fireworks cool in Washington, the eve of the trade war has arrived in China’s capital, where government leaders keep reminding people: We did not start this, but we will fight back. President …

President Trump defiantly stood by his tariffs on Sunday as Canada hit back hard, Mexico elected a new leader who seems prepared to confront him, and the European Union issued a scathing condemnation of his policy as “in effect, a tax on the American people.” Instead of backing down, Trump …

The Pentagon kicked off the world’s largest naval war games last week, the biennial, month-long Rim of the Pacific exercises, known as RIMPAC, bringing together 46 ships and submarines, 200 aircraft and 25,000 troops from 25 nations. Missing from that contingent is China, which was disinvited from RIMPAC over its …

Big Oil is losing faith in President Donald Trump’s pledges to build the US into a self-reliant energy superpower. Top executives from Exxon Mobil Corp, Chevron Corp and Total SA all took shots at Trump’s trade plans at the World Gas Conference in Washington, expressing concern that US tariffs are …

More than $3 billion worth of U.S. goods — from bourbon and corn to Harley-Davidson motorcycles — are now under a 25 percent tariff in the European Union, in retaliation for the Trump administration’s tariffs that hit the EU, Mexico and Canada this month. “The trade that we believe in …

President Donald Trump inched closer to an all-out trade war by unveiling plans Monday to impose 10 per cent tariffs on an additional $200 billion (Dh735 billion) worth of Chinese goods if Beijing doesn’t bend to US demands. With the world’s two largest economies on the brink of a full-fledged …

US stocks fell and bonds surged as President Donald Trump moved the US closer to a trade war with China, while investors weighed diverging monetary policies from the Federal Reserve and European Central Bank. The S&P 500 Index dropped to session lows, erasing its gains for the week, after the …

President Trump is enacting a 25 percent tariff on $50 billion of Chinese goods “that contain industrially significant technologies,” after months of exchanging threats amid concerns over a potential trade war. U.S. Customs and Border Protection will begin to collect tariffs on the first $34 billion worth of Chinese imports …

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 …

US President Donald Trump has fired off a string of angry tweets criticising America’s closest allies hours after leaving a divisive G7 summit in Canada. Mr Trump said the US paid “close to the entire cost of Nato” to help protect countries that “rip us off on trade”. “Fair trade …