China's Ministry of Commerce announced it is pursuing legal remedy against the U.S. in a brief statement on its website — the latest in an escalating trade conflict between the world's two largest economies.Add your comment!
China’s trade surplus with the United States swelled to a record in June as its overall exports grew at a solid pace, a result that could further inflame a bitter trade dispute with Washington.Add your comment!
The United States launched five separate World Trade Organization dispute actions on Monday challenging retaliatory tariffs imposed by China, the European Union, Canada, Mexico and Turkey following U.S. duties on steel and aluminum. The retaliatory tariffs on up to a combined US$28.5 billion worth of U.S. exports are illegal under WTO rules, U.S. Trade Representative Robert Lighthizer said in a statement.1 comment
China can increase soybean imports from other countries to reduce reliance on buying from the United States, the president of state grains trader COFCO said in an interview with the Communist Party’s official People’s Daily paper on Wednesday.7 comments
President Donald Trump on Monday night picked Brett Kavanaugh to fill an open seat on the Supreme Court, potentially creating the most business-friendly high court since before the New Deal in the 1930s. The nomination of Kavanaugh to replace the retiring Anthony Kennedy is another win for corporate America.5 comments
European Union on Monday slammed the Trump administration for considering tariffs on auto imports, saying they could lead to global retaliation against some US$ 300 billion in U.S. goods amid signs of a brewing trade war.
BMW and Hyundai Motor urged the U.S. not to impose tariffs on auto imports, joining General Motors Co. in pressing their case to the Commerce Department even as a top aide to President Donald Trump dismissed the concerns as “smoke and mirrors.”
Canada began imposing tariffs Sunday on US$12.6 billion in U.S. goods as retaliation for the Trump administration's new taxes on steel and aluminum imported to the United States. Some U.S. products, mostly steel and iron, face 25% tariffs, the same penalty the United States slapped on imported steel at the end of May.
The country that could indirectly benefit from the intensifying US-China trade war is Brazil, which finds itself in a strategic position to increase its market share of soybean exports to China.
The European Union (EU) has introduced retaliatory tariffs on US goods as a top official launched a fresh attack on President Donald Trump's trade policy. The duties on €2.8bn worth of US goods came into force on Friday. Tariffs have been imposed on products such as bourbon whiskey, motorcycles and orange juice.