Pressure is growing on global commodity trading firms with strong ties to Switzerland for their alleged involvement in the “Car Wash” corruption scandal in Brazil. The US Federal Bureau of Investigation is investigating two Vitol executives in the Americas, according to Reuters news agency.1 comment
Argentina, Costa Rica, Japan and the European Union are supporting a U.S. drive to enforce greater transparency and discipline at the World Trade Organization, an updated proposal published by the WTO showed on Friday.
United States Justice Department said on Wednesday it had arrested and indicted a spy for China’s Ministry of State Security on charges of economic espionage and attempting to steal trade secrets from several U.S. aviation and aerospace companies.
Canada has not invited the United States or China to a high-level meeting on reforming the World Trade Organization (WTO). The country will host a small group of like-minded trade ministers in Ottawa in late October to discuss the global trade body. Officials say countries like the US and China will be included at a later date in the reforms discussion process.
Global index compiler MSCI is considering including Argentina and Saudi Arabia in its emerging market indexes at a review of its widely-tracked benchmark on Wednesday, and could potentially announce candidates that may join its indexes in future.
Wall Street is shocked, but it shouldn't be: Tariffs targeting China should have been a given, and now the market's tanking on trade war fears as if it just crept up on everyone, but Trump's been very clear on this.
The world’s financial leaders rejected protectionism on Tuesday and urged “further dialogue” on trade, but failed to diffuse the threat of a trade war days before U.S. metals tariffs take effect and Washington is to announce measures against China. Finance ministers and central bankers of the world’s 20 biggest economies, which represent 75% of world trade and 85% of global gross domestic product, discussed trade disruptions as a risk to growth at a two-day meeting.
Eleven Asia-Pacific countries have just signed the trade pact formerly known as the Trans-Pacific Partnership. Although the US pulled out last year, the deal was salvaged by the remaining members, who signed it at a ceremony in the Chilean city of Santiago.
Prospects for the global economy are looking brighter, according to the International Monetary Fund (IMF), arguing that the recent pick-up has been pretty broad-based, particularly in Europe and Asia. Tax reforms in the United States are expected to stimulate economic activity, especially business investment.
Chile’s foreign minister welcomed Chinese representatives to a meeting with Latin American and Caribbean countries and praised Beijing for rejecting protectionism as the United States backs away from global trade.