Tag Archives: trade war

Lebanon’s President Michel Aoun demanded Israel on Thursday to halt exploration in an offshore gas field on its southern border amid ongoing dispute over their shared sea frontier. Still technically at war, the two countries last year took part in indirect US-brokered talks to discuss demarcation to clear the way …

Turkey’s lira briefly fell 15% to near its all-time low on Monday after President Tayyip Erdogan abruptly fired the central bank governor at the weekend and installed a critic of tight policy who is expected to reverse recent rate hikes. Sahap Kavcioglu, a former ruling party lawmaker who shares Erdogan’s …

The US Department of Commerce is preparing to tax aluminum sheet exporters from 18 countries after determining Tuesday they had benefited from subsidies and dumping. The US International Trade Commission (ITC), an independent body, must approve the final decision by April 15 to impose anti-dumping or countervailing duties, a department …

The CEO and founder of Chinese telecom giant Huawei called Tuesday for a reset with the United States under President Joe Biden, after the firm was battered by sanctions imposed by Donald Trump’s administration. In his first appearance before journalists in a year, Ren Zhengfei said his “confidence in Huawei’s …

Chinese President Xi Jinping warned global leaders at an all-virtual Davos forum Monday against starting a “new Cold War” while he championed multilateralism. Representing the only major economy to record economic growth last year, Xi presented himself as the defender of multilateralism, as he did at the same forum four …

Digital services taxes adopted by India, Italy and Turkey discriminate against U.S. companies and are inconsistent with international tax principles, the U.S. Trade Representative’s office said on Wednesday, paving the way for potential retaliatory tariffs. USTR, releasing the findings of its “Section 301” investigations into the digital taxes, said it …

By Nima Khorrami   Secure and uninterrupted cyber cooperation is central to successfully fighting conventional wars, defending against hybrid threats, ensuring the security of stationed personnel, monitoring financial transactions and terrorist movements, and enforcing sanctions. As China and the United States have found new venues for conflict over the last …

France expects smoother trade relations with the United States should Democratic contender Joe Biden win the presidential vote, with greater alignment on sustainable development and more multilateral cooperation, trade minister Franck Riester said. President Donald Trump has imposed tariffs on French wines in a row over Airbus subsidies, threatened levies …

US President Donald Trump has expressed his approval of a deal that would allow Chinese-owned video-sharing app TikTok to continue operating in the US. Mr Trump told reporters he had given his “blessing” to a partnership between TikTok and US firms Oracle and Walmart. The president had ordered the app …

The U.S. Commerce Department plans to issue an order Friday that will bar people in the United States from downloading Chinese-owned messaging app WeChat and video-sharing app TikTok starting on September 20, three officials told Reuters. The officials said the ban on new U.S. downloads of TikTok could be still …

China on Thursday accused the United States of stoking a new Cold War because certain politicians were searching for a scapegoat to bolster support ahead of the U.S. presidential election in November. U.S. President Donald Trump identifies China as the West’s main rival, and has accused President Xi Jinping of …

U.S. Secretary of State Mike Pompeo took fresh aim at China on Thursday and said Washington and its allies must use “more creative and assertive ways” to press the Chinese Communist Party to change its ways, calling it the “mission of our time.” Speaking at the Nixon Library in President …

White House trade adviser Peter Navarro on Sunday said he was in the room with President Donald Trump and Chinese President Xi Jinping when they met, but never heard the U.S. president ask for China’s help in winning re-election. Navarro told CNN’s “State of the Union” that the explosive allegation …

Facebook Inc (FB.O) will start labeling Russian, Chinese and other state-controlled media organizations, and later this summer will block any ads from such outlets that target U.S. users, it said on Thursday. The world’s biggest social network will apply the label to Russia’s Sputnik, Iran’s Press TV and China’s Xinhua …

A group of Republican lawmakers plans to unveil legislation this week to keep Americans from investing in foreign defense companies with ties to China’s military, according to a document seen by Reuters, the latest in a string of measures aimed at curbing U.S. funding for China-based firms. Representatives Mike Gallagher, …

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 …