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Tag: external payments

  • Trump’s Big Tariff Task in Asia Is to Close the Deal

    President Trump’s quest to reorder global trade through personal diplomacy will be tested during his tour of Asia this week, as he faces the tantalizing prospect of a pact with China and the chance to bust through obstacles to completing deals with other key trading partners.

    On Sunday, Trump won some momentum by winning tariff agreements with a handful of Southeast Asian nations. He also sounded an optimistic note on China ahead of a meeting with Chinese leader Xi Jinping planned for later this week. “I think we are going to come away with a deal,” Trump said Monday aboard Air Force One en route to Japan.

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    Jason Douglas

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  • Trump Reaches Trade Pacts With Southeast Asian Nations

    The Trump administration said it reached trade agreements with Malaysia and Cambodia, and frameworks for deals with Thailand and Vietnam during President Trump’s trip across Asia. The announcements, while not legally binding, represent significant progress in Trump’s quest to lower trade barriers for U.S. goods abroad.

    Here’s what to know:

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    Gavin Bade

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  • U.S., China Sound Confident Note After Trade Talks

    [ad_2] Hannah Miao
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  • Trump Says He Will Raise Tariffs on Canada by 10% Over Ontario Ad

    The U.S. will impose an additional 10% tariff on Canada, President Trump said on Saturday, a punitive measure in response to an ad campaign that he said misrepresented comments by former President Ronald Reagan.

    “Because of their serious misrepresentation of the facts, and hostile act, I am increasing the Tariff on Canada by 10% over and above what they are paying now,” Trump posted on his Truth Social platform on Saturday.

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    Gavin Bade

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  • As Trump and Xi Get Set to Talk Trade, Asia Worries About Impact on Its Security

    President Trump put the world on notice in his first term that the U.S. was preparing for an era of intensified military and economic competition with Beijing.

    But as he left for his first trip to Asia since returning to the White House, striking a new trade deal with Chinese leader Xi Jinping has moved to the top of Trump’s agenda, spurring apprehensions among allies that the dealmaking might come at their expense.

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    [ad_2] Michael R. Gordon
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  • As Putin Digs In, a Long—and Different—War With Ukraine Looms

    Russia’s refusal of a cease-fire and an aborted peace summit in Budapest have raised the grim prospect that the war in Ukraine will rage for years to come—even as the nature of the conflict transforms.

    President Vladimir Putin remains convinced that Russia will eventually wear down its smaller neighbor, causing a collapse of the Ukrainian economy and society. An elusive victory would allow him to make the case that the devastating war he unleashed nearly four years ago was worth it, after all.

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    Yaroslav Trofimov

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  • How One Ad Sent U.S.-Canada Trade Talks Into a Tailspin

    Canadian officials were just starting to get their hopes up.

    Negotiators from Ottawa and Washington had spent weeks hashing out a potential deal to reduce punishing 50% tariffs President Trump had imposed on steel and aluminum, and the Canadians were growing optimistic in recent days, according to people familiar with the talks. The discussions were punctuated by an amicable Oval Office meeting earlier this month between Trump and Canadian Prime Minister Mark Carney. Both leaders expressed confidence that they could get the trade relationship back on track.

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    Vipal Monga

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  • Apple, Trade Thaw Lift Stocks Toward New Highs

    Easing trade tensions and a big gain in Apple shares helped drive stocks back toward records on Monday, the start of a heavy week of corporate earnings.

    Indexes opened with gains, with some investors saying sentiment was buoyed by President Trump saying he will soon meet with China’s leader, Xi Jinping, and Treasury Secretary Scott Bessent’s Friday comments that he will meet with his Chinese counterpart in person this week. 

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  • China, Betting It Can Win a Trade War, Is Playing Hardball With Trump

    In its trade standoff with Washington, Beijing thinks it has found America’s Achilles’ heel: President Trump’s fixation on the stock market.

    China’s leader, Xi Jinping, is betting that the U.S. economy can’t absorb a prolonged trade conflict with the world’s second-largest economy, according to people close to Beijing’s decision-making. China is holding a firm line because of its conviction, the people said, that an escalating trade war will tank markets, as it did in April after Trump announced his so-called Liberation Day tariffs, prompting Beijing to hit back.

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    Lingling Wei

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  • China Adds Hanwha Ocean’s Units to Sanctions List

    Hanwha Ocean’s 042660 -5.76%decrease; red down pointing triangle shares slid Tuesday after Beijing added five of the South Korean shipbuilder’s subsidiaries to a sanctions list over their alleged role in a U.S. probe into the Chinese shipping industry.

    The stock plunged as much as 9% before paring losses. It closed 5.8% lower at 103,100 won, equivalent to $72.28, compared with the benchmark Kospi’s 0.6% fall.

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    Kwanwoo Jun

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  • How China and the U.S. Are Racing to De-Escalate the Trade War

    President Trump is trying to publicly de-escalate tensions with China to soothe markets while privately keeping up pressure on Beijing—a difficult balancing act that is being closely watched by Wall Street.

    After threatening additional 100% tariffs on Chinese imports starting Nov. 1, Trump in recent days spoke with senior officials, including Treasury Secretary Scott Bessent, about sending a message to the world that the U.S. wants to de-escalate trade tensions with China, according to people familiar with the matter.

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    Brian Schwartz

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  • Opinion | Europe Joins the Steel Tariff Game

    A feature of the Trump era is that while foreign governments object to the American President’s protectionism, in practice they often jump at the opportunity to join him in imposing tariffs. Witness the new levies the European Union proposed on imported steel last week.

    Brussels plans to cut in half the volume of steel allowed to enter the EU tariff-free each year, to 18.3 million tons. For imports above that level, the tariff rate will rise to 50% from 25%. This is a gift to struggling European steel makers that have long begged for protection.

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    The Editorial Board

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  • China’s Exports Rise at Fastest Pace in Six Months Despite U.S. Tariffs

    China’s exports rose at the fastest pace in six months in September, beating market expectations and underscoring the sector’s continued role as a key growth driver for the world’s second-largest economy.

    Outbound shipments rose 8.3% from a year earlier, accelerating from August’s 4.4% increase and exceeding the 6.0% growth forecast by economists in a Wall Street Journal poll, according to data released Monday by the General Administration of Customs.

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  • Trump’s Fresh Tariff Assault Threatens China’s Fragile Economy

    Beijing was already seeing growth slow before Trump announced the latest 100% tariff increase, part of a trade-war flare-up that China has blamed on the U.S.

    Hannah Miao

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  • Four Things to Know About Beijing’s Rare-Earths Bombshell

    Ahead of a potential meeting between President Trump and Chinese leader Xi Jinping, Beijing dropped a bombshell: China was further restricting access to the supplies that American companies need for computer chips, cars and other technology. The move gives China leverage ahead of expected trade talks with Washington.

    Here’s what to know.

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    Stu Woo

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  • China’s Rare-Earth Escalation Threatens Trade Talks—and the Global Economy

    China’s newest restrictions on rare-earth materials would mark a nearly unprecedented export control that stands to disrupt the global economy, giving Beijing more leverage in trade negotiations and ratcheting up pressure on the Trump administration to respond.

    The rule, put out Thursday by China’s Commerce Ministry, is viewed as an escalation in the U.S.-China trade fight because it threatens the supply chain for semiconductors. Chips are the lifeblood of the economy, powering phones, computers and data centers needed to train artificial-intelligence models. The rule also would affect cars, solar panels and the equipment for making chips and other products, limiting the ability of other countries to support their own industries. China produces roughly 90% of the world’s rare-earth materials.

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    Amrith Ramkumar

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  • Opinion | Ukraine is Starving Russia of Oil

    Ukrainian President Volodymyr Zelensky has labeled his military’s strikes on Russia’s oil infrastructure “the most effective sanctions.” Meanwhile, reports indicate that alongside urging Europe and India to halt purchases of Russian oil, Washington plans to share additional intelligence with Ukraine on Russian refineries, pipelines and other energy infrastructure.

    Most discussions about these “sanctions” have focused on their financial implications for Russia. Vladimir Putin relies heavily on corruption and patronage, with oil and gas serving as key revenue streams. Disrupting the flow could force Mr. Putin to choose between sustaining the war and maintaining the payouts to oligarchs and citizens that secure his political backing—though such an economic squeeze would take some time.

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    Michael Bohnert

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  • Exclusive | Why U.S.’s Trade Pact With South Korea Has Gotten Messier

    President Trump’s trade deal with South Korea is on shaky ground, with Commerce Secretary Howard Lutnick taking a tough line in talks as some Seoul officials privately argue to allies that the White House is moving the goal posts.

    Lutnick, in recent conversations with South Korean officials, has discussed with Seoul the idea of slightly increasing the $350 billion they had previously guaranteed to the U.S. in July and suggested the final tally could get a bit closer to the $550 billion pledged by Japan, according to people familiar with the discussions, including an adviser to South Korea’s government.

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    Brian Schwartz

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  • The Black Market for Oil Blunts Trump’s India Tariffs

    Based on what’s happening in the black market for oil, the White House’s new import levy on India is backfiring.

    President Trump last week doubled India’s tariff rate to 50% to punish it for buying sanctioned Russian oil. Indian refineries have become major buyers of Moscow’s crude since the war in Ukraine began.

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    Carol Ryan

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  • Import prices climb 0.8% in January, up 0.7% minus fuel

    Import prices climb 0.8% in January, up 0.7% minus fuel

    Story developing. Stay tuned for updates here.

    …

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