By Bloomberg News (Bloomberg) -- China wants to hold more talks this month to hammer out the details of the “phase one” trade deal touted by Donald Trump before Xi Jinping agrees to sign it, according to people familiar with the matter. Beijing may send a delegation led by Vice Premier Liu He, China’s top negotiator, to finalize a written deal that could be signed by the … [Read more...]
U.S., China Said to Reach Partial Deal, Could Set Up Trade Truce
By Jenny Leonard (Bloomberg) -- The U.S. and China reached a partial agreement Friday that would broker a truce in the trade war and lay the groundwork for a broader deal that Presidents Donald Trump and Xi Jinping could sign later this year, according to people familiar with the matter. As part of the deal, China would agree to some agricultural concessions and the U.S. … [Read more...]
Port of Los Angeles Imports Fall in September as Trade War Roils Shipping
LOS ANGELES, Oct 10 (Reuters) - The Port of Los Angeles, the busiest for ocean trade with China, processed fewer containers of imported goods in September as the prolonged U.S.-China trade war whipsaws global supply chains. Imports fell 2.9% to 402,320 TEUs, or 20-foot equivalent units, in September - the first decline at the Port of Los Angeles since February. Exports … [Read more...]
U.S. Retail Imports Expected to Surge Ahead of December Tariffs, NRF Says
Imports at the nation’s major retail container ports are expected to hit their highest level of the year again next month ahead of new tariffs set to take effect in December, according to the Global Port Tracker report released Wednesday by the National Retail Federation and Hackett Associates. New 15 percent tariffs that took effect at the beginning of September on a wide … [Read more...]
COSCO Sanctions Send U.S. to Asia Tanker Rates to Record High
By Collin Eaton and Devika Krishna Kumar HOUSTON/NEW YORK, Oct 2 (Reuters) - Freight rates for U.S. crude tankers bound for Asia hit an all-time high on Wednesday as U.S. sanctions on a Chinese transport giant cut vessel availability, traders and shipbrokers said. South Korea's top refiner SK Energy chartered a supertanker, Maxim, to ship U.S. crude to South Korea in … [Read more...]