By Ellen Milligan and Alex Longley (Bloomberg) -- This is supposed to be a year of bumper oil demand, but economic warning signs are flashing across the developing nations that drive growth. Emerging markets are expected to contribute 1 million barrels a day of additional oil demand this year, about three quarters of total global growth, according to the … [Read more...]
China Hammers U.S. Goods with Tariffs as “Sparks” of Trade War Fly
By Ben Blanchard and Tony Munroe BEIJING, April 2 (Reuters) - China has increased tariffs by up to 25 percent on 128 U.S. products, from frozen pork and wine to certain fruits and nuts, escalating a dispute between the world's biggest economies in response to U.S. duties on imports of aluminum and steel. The tariffs, to take effect on Monday, were announced late on … [Read more...]
U.S. Commerce Secretary Wilbur Ross to China: Import More U.S. Gas to Cut Trade Gap
By Ryan Collins, Scarlet Fu and Julia Chatterley (Bloomberg) -- What would it take for China to reduce its trade gap with the U.S.? Buy more natural gas, for a start, says Secretary of Commerce Wilbur Ross. Diverting its purchases from other countries to America would be the “simplest” solution, Ross said during an interview with Bloomberg TV after President Donald Trump … [Read more...]
United States, South Korea Revise Trade Deal with Quotas on Korean Steel
By Hyunjoo Jin and Joyce Lee SEOUL, March 26 (Reuters) - The United States and South Korea agreed to revise a trade pact sharply criticized by U.S. President Donald Trump, Seoul said on Monday, with U.S. automakers winning improved market access and Korean steelmakers hit with quotas but avoiding hefty tariffs. The planned changes in the U.S.-Korea Free Trade Agreement … [Read more...]
Canada Urges World Nations to Preserve Pillars of Global Trade
By Jason Koutsoukis (Bloomberg) -- As the U.S. and China edge closer to a full-blown trade war, Canada has urged all nations to act to preserve the pillars of the world trading system. “We need to cherish the organizations that have been the cornerstone of the world economic order,” Trade Minister Francois-Philippe Champagne said in an interview in Singapore on … [Read more...]