ReportWire

Tag: Physical Trade

  • Where Trump Sees Deals, Russia and China See a Chance to Disrupt U.S. Alliances

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    U.S. adversaries are using President Trump’s eagerness to strike deals as a chance to drive a wedge between the U.S. and its allies and undermine the Washington-led security order that has for years held them in check.

    In Europe, Russia is seeking to exploit Trump’s desire to halt the war in Ukraine and strike business deals with Moscow by shaping a peace plan that meets many of its strategic objectives, including winning chunks of Ukrainian territory and closing off any hope Kyiv had of joining NATO.

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    Jason Douglas

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  • Swiss Watch Exports Continue on Downward Trend in U.S. Tariff Fallout

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    Exports of Swiss watches remained on a declining trend in October, driven by a sharp decrease in the U.S. as tariffs continue to take a toll.

    Total exports of Swiss timepieces dropped 4.4% in October compared with the same period last year to 2.24 billion Swiss francs ($2.78 billion), according to data published Thursday by the Federation of the Swiss Watch Industry, or FH.

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    Andrea Figueras

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  • U.S. Agrees to Cut Switzerland Tariffs to 15% in Trade Deal

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    The U.S. has reached a deal to reduce the crippling 39% import tariffs on Switzerland to 15%, easing a growing burden on the Alpine country’s export-dependent economy and the steepest tariff the Trump administration had imposed on a developed nation.

    “We’ve essentially reached a [trade] deal with Switzerland,” U.S. Trade Representative Jamieson Greer said Friday on CNBC. “They are going to send a lot of their manufacturing to the United States—pharmaceuticals, gold smelting, railway equipment.”

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    Georgi Kantchev

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  • U.S. to Cut Tariffs on Bananas, Coffee and Other Goods From Four Countries

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    The U.S. plans to eliminate tariffs on bananas, coffee, beef and certain apparel and textile products under framework agreements with four Latin American nations, a senior administration official told reporters Thursday.

    The expected move—which would apply to some goods from Ecuador, Argentina, El Salvador and Guatemala—is part of a shift from the Trump administration to water down some of its so-called reciprocal tariffs in the midst of rising prices for consumers, as well as legal uncertainty after a Supreme Court hearing this month.

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    Gavin Bade

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  • Chips Held Hostage in Trade War Start Flowing Again to Auto Suppliers

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    Nexperia microchips are leaving China again, easing a shortage of simple but ubiquitous parts that threatened to paralyze the auto industry.

    German automotive supplier Aumovio, which was recently spun out of tire giant Continental, said Friday that the Sino-Dutch company’s semiconductors and components containing them were on their way from China to Aumovio’s distribution hub in Hungary.

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    Stephen Wilmot

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  • Canadian PM Carney Says He Apologized to Trump Over Antitariff Ad

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    Canadian Prime Minister Mark Carney said he apologized to President Trump over an antitariff television ad that had angered Trump and sent the two countries’ trade talks into a tailspin.

    Carney made the apology earlier this week during a dinner in South Korea for Asia-Pacific leaders, he told reporters Saturday at a news conference. Trump had been offended by the advertisement, Carney said, which was sponsored by the Ontario government and included audio of former President Ronald Reagan criticizing tariffs.

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    [ad_2] Yoko Kubota
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  • Exclusive | White House to Announce Resumption of Auto Chip Shipments From China

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    The White House is set to announce that the Dutch semiconductor company that paused shipments weeks ago and risked upending global car production will resume sending chips under a framework agreement reached during talks between President Trump and Chinese leader Xi Jinping, people familiar with the plans said. 

    The new policy on the Dutch chips is part of a forthcoming document from the White House laying out the details of the U.S.-China trade deal signed this week, according to the people.

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    Ryan Felton

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  • China Factory Activity Gauge Signals Deepening Manufacturing Gloom

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    Economic momentum continued to weaken for the world’s second-largest economy, with a manufacturing gauge signaling mounting headwinds.

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  • The Long Road to a U.S.-China Trade Pact

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    In March, Sen. Steve Daines traveled to Beijing with a group of American chief executives in hopes of calming a tense trade relationship between the world’s two largest economies.

    Weeks earlier, President Trump had added an additional 20% in tariffs on China over what he said was its role in the fentanyl trade. The Montana senator and close Trump ally, who lived in China and Hong Kong for six years in the 1990s as an executive for Procter & Gamble, saw an opening to smooth things over.

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    Gavin Bade

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  • What to Know About Trump’s Trade Deal With China’s Xi

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    Tariffs, soybean purchases and a crackdown on fentanyl were among the issues discussed by the two leaders.

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    Joshua Jamerson

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  • What to Know About Trump’s Latest Tariffs

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    President Trump’s tariff policies have taken numerous twists and turns this year.

    He and President Xi Jinping reached a trade agreement that will see the U.S. lowering tariffs on Chinese imports imposed this year to 20%. When added to tariffs imposed on Chinese imports during Trump’s first term, overall U.S. duties on Chinese imports will total around 47%.

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    Chao Deng

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  • Trump Meets Xi for High-Stakes U.S.-China Summit

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    BUSAN, South Korea—President Trump and Chinese leader Xi Jinping met face-to-face for the first time in six years in an attempt to find a truce in a bruising fight between the two superpowers over trade and technology.

    The two leaders convened at the airport in this South Korean port city late Thursday morning local time. As they shook hands, Trump said it’s “good to see you again,” and added, “We’re going to have a very successful meeting, I have no doubt. But he’s a very tough negotiator, that’s not good.”

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    [ad_2] Josh Chin
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  • Trump’s Big Tariff Task in Asia Is to Close the Deal

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    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

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    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

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    [ad_2] Hannah Miao
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  • As Trump and Xi Get Set to Talk Trade, Asia Worries About Impact on Its Security

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

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    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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  • China Adds Hanwha Ocean’s Units to Sanctions List

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

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    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.

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    Hannah Miao

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

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    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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