Trump ‘not ready’ to deal with China, says September talks may be canceled
President Trump said he was ‘not ready’ to make a deal with China on trade and that a planned September meeting between White House officials and Beijing could be called off.
Trade
U.S. labor market strong; second-quarter GDP growth expected to be revised down
The number of Americans filing applications for unemployment benefits unexpectedly fell last week, suggesting the labor market remains strong even as the economy is slowing.
Trump administration to seek Britain trade deal after Brexit
The Trump administration will pursue a free-trade agreement with Britain as soon as possible after it leaves the European Union, Secretary of State Mike Pompeo said Wednesday as the country’s new foreign secretary made his first official visit to the United States.
Pakistan Downgrades Ties With India as Tensions Rise Over Kashmir
Pakistan says it is expelling India’s high commissioner to Islamabad, just hours after downgrading diplomatic and trade ties with New Dehli for stripping the disputed Kashmir region of its special status, as bilateral relations continue to deteriorate.
U.S. designates China a currency manipulator, escalating trade war
A yearlong U.S.-China trade war boiled over on Monday as Washington accused Beijing of manipulating its currency after China let the yuan drop to its lowest point in more than a decade.
Iran Seizes Third Foreign Ship in Less Than Month
Iran seized a foreign oil tanker and its seven crew members in the Persian Gulf last week, state media reported Sunday, the third time the Iranian Revolutionary Guard Corps has detained a ship in less than a month.
Trump hits China with more tariffs, sharply escalating trade dispute
U.S. President Donald Trump vowed to impose a 10% tariff on $300 billion of Chinese imports from Sept. 1, sharply escalating a bruising trade war between the world’s largest economies and jolting financial markets.
U.S., China to keep talking on trade after little progress in Shanghai
U.S. and Chinese negotiators ended a brief round of trade talks on Wednesday with little sign of progress and agreed to meet again in September, prolonging an uneasy truce in a year-long trade war between the world’s two largest economies.
Trump administration, Democrats make progress on new NAFTA
Congressional Democrats appear to be moving from ‘no way’ to ‘maybe’ on President Donald Trump’s rewrite of a trade pact with Canada and Mexico.
U.S. economy slows in second quarter; weak business investment a red flag
U.S. economic growth slowed less than expected in the second quarter as a surge in consumer spending blunted some of the drag from declining exports and a smaller inventory build, which could further allay concerns about the economy’s health.
‘The Buck Stops Here’: Boris Johnson Elected UK Prime Minister, Promises Brexit With or Without Deal
Boris Johnson became the new Prime Minister of the U.K. on Tuesday, beating Jeremy hunt in a bid to replace Theresa May for conservative party leadership.
Farmers Press for an End to the Trade War as the Trump Administration Rolls Out a $16 Billion Bailout
The U.S. just unveiled $16 billion more in federal aid for agriculture. Farmers were of course happy for the funds, but mainly, they want an end to Donald Trump’s trade wars.
Top U.S., China trade negotiators to meet in Shanghai next week
Top U.S. and Chinese negotiators will meet face-to-face next week for the first time since Presidents Donald Trump and Xi Jinping agreed to revive talks to end their year-long trade war.
IMF warns of trade tensions in global outlook downgrade
The International Monetary Fund (IMF) on Tuesday downgraded its global growth outlook, citing trade tensions between the two largest economies.
Britain calls ship seizure ‘hostile act’ as Iran releases video of capture
Britain on Saturday denounced Iran’s seizure of a British-flagged oil tanker in the Gulf as a ‘hostile act’ and rejected Tehran’s explanation that it seized the vessel because it had been involved in an accident.
U.S.-China officials discuss trade; Mnuchin eyes possible in-person talks
U.S. and Chinese officials spoke by telephone on Thursday as the world’s two largest economies seek to end a year-long trade war, with U.S. Treasury Secretary Steven Mnuchin suggesting in-person talks could follow.
China’s GDP growth slumps to 27-year low amid trade war with US
The Chinese economy has suffered a loss of momentum in the second quarter, with the GDP falling to 6.2 % from a 6.4 % expansion in the first three months of the year, figures released by the National Bureau of Statistics showed on Monday.
‘We Hope that Obstacles Will Be Removed’: Iran Seeks to Build Railway Connecting Iran, Iraq, Syria
Iran, Syria, and Iraq signed an agreement Wednesday, July 3rd, to construct an Iran-funded railway from Shalamcheh in the Islamic Republic to the Mediterranean coastal city of Lattakia in Syria, bypassing trade waterways typically patrolled by the US.
U.S., China to relaunch talks with little changed since deal fell apart
The United States and China are set to relaunch trade talks this week after a two-month hiatus, but a year after their trade war began there is little sign their differences have narrowed.
US trade deficit rises to 5-month high of $55.5B in May
The U.S. trade deficit rose to a five-month high in May as the politically sensitive imbalances with China and Mexico widened.