President Donald Trump again criticized the Federal Reserve for raising interest rates, calling it a “mistake” hours after the worst U.S. stock market sell-off since February. “The Fed has gone crazy,” he told reporters on Wednesday as he arrived in Pennsylvania for a campaign rally. “So you can say that well that’s a lot of […]
U.S. Trade Deficit with China Hits Record…
The August trade deficit – a closed watched number in a time of trade wars – came in at $53.2BN, fractionally better than the $53.6BN expected, but 6.4% worse than last month’s revised print of $50.0BN ($46.8BN excluding petroleum), and just shy of a new all time high. The deficit deteriorated as a result of […]
Mercedes, Nissan to Ramp Up U.S. Investment After New NAFTA Deal…
Mercedes-Benz and Nissan plan to invest more in the U.S. after the Trump administration won a new trade agreement with Canada and Mexico that requires more of each vehicle to be built in North America, by higher-paid workers, the Financial Times reported. Under the terms of the deal to update the North American Free Trade […]
New North American Trade Deal Has Bad News for Canadian Copyright…
Earlier this week, the U.S. Trade Representative announced a replacement deal for the North American Free Trade Agreement, the nearly 25-year-old trade deal between the U.S., Mexico, and Canada. Amid the long list of tariff-free products and restriction-free cheese names [PDF] in the new trade deal, called simply the United States-Mexico-Canada Trade Agreement or USMCA, […]
Steelworkers Union: USMCA Labor Protections Much Stronger than NAFTA or TPP…
The new United States Mexico Canada Agreement, which will replace the North America Free Trade Agreement, is an improvement on its predecessor and on the Trans-Pacific Partnership, the failed attempt at a multilateral trade agreement rejected by President Donald Trump shortly after he took office. “In the area of workers’ rights, the draft text we […]
China Retaliates After US Imposes New $200 Billion Tariffs…
The latest US salvo against China has escalated the threat of a trade war between the world’s two largest economies. China has responded by announcing countermeasures affecting up to $60 billion worth of US exports. The United States has announced fresh tariffs on $200 billion (€171 billion) worth of Chinese goods, spooking markets worried about […]
U.S. Offer of New China Trade Talks Should Be Taken Seriously…
The U.S. decision this week to invite Chinese trade negotiators back for another round of talks could prove to be just another failed effort on the road to an escalating trade war. But more likely, it will instead be the start of a months-long — indeed perhaps years-long — effort to find a new accommodation […]
What If China Sets Up a Naval Base in Venezuela?…
Might China strike a deal to establish a military base in Venezuela? If so, what would that mean for U.S. security interests? I ask the questions in light of Venezuelan President Nicolas ‘the Mad Rabbit’ Maduro’s ongoing visit to Beijing. Seeking new Chinese loans to prop up his decrepit, hyperinflated economy, Maduro is in full […]
Trump: Doubling of China Trade Tariffs ‘Ready to Go’…
President Trump said Friday that he has another $267 billion in tariffs ready to slap on China, calling his testy relationship with that nation “a far bigger problem” than dealing with Russia right now. The president, speaking to reporters aboard Air Force Once, said he’s in the middle of reshaping America’s trade policy on a […]
Trump Prepares Tariffs on Another $267B of Chinese Goods…
President Trump is preparing additional tariffs on $267 billion worth of Chinese imports, a move that will inflame fears that his dispute with Chinese leadership will devolve into a trade war. Trump said aboard Air Force One Friday that he is ready to dramatically ramp up the China tariffs. “There is another $267 billion ready […]
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