Oil prices slipped on Wednesday, continuing a recent slide after surging U.S. crude output hit another record and domestic inventories rose more than expected. The U.S. Energy Information Administration (EIA) said domestic crude inventories rose 5.8 million barrels in the latest week, more than double analysts’ expectations.
The U.S. Commerce Department on Wednesday said it would impose final anti-dumping and anti-subsidy duties on Chinese common alloy aluminum sheet products of 96.3% to 176.2%. The decision marks the first time that final duties were issued in a trade remedy case initiated by the U.S. government since 1985.
The U.S. Commerce Department said it would begin a review of antidumping duties it placed last year on biodiesel imported from Argentina, the Argentine Foreign Ministry said in a statement on Wednesday.
U.S. billionaire philanthropist Bill Gates unveiled on Tuesday in Beijing a futuristic toilet that doesn’t need water or sewers and uses chemicals to turn human waste into fertilizer. The Microsoft Corp co-founder, who a day earlier was one of the high profile guests at a major trade event in Shanghai, also lauded the globalized and free trade systems that made the toilet technology possible.
The United States and China will hold a delayed top-level security dialogue on Friday, the latest sign of a thaw in relations, as China’s vice president said Beijing was willing to talk with Washington to resolve their bitter trade dispute.
The US Democrats have taken control of the House of Representatives in the mid-term elections. Taking control of the lower chamber of Congress for the first time in eight years will enable Democrats to thwart the president's agenda. But Mr Trump's Republicans are set to strengthen their grip on the Senate.
Communist-run Cuba’s economic growth will come in at around 1% this year, compared with the 2% previously forecast, due to a fall in exports and tourism revenue, state-run media reported over the weekend. The Caribbean island’s gross domestic product grew 1.8% last year and 0.5% in 2016.
Oil prices were mixed on Monday after a steep five-day fall, as the United States formally imposed punitive sanctions on Iran but granted eight countries temporary waivers allowing them to keep buying oil from the Islamic Republic. The sanctions are part of U.S. President Donald Trump’s effort to curb Iran’s missile and nuclear programs and diminish its influence in the Middle East.
Britain will continue to expand trade relations with Iran despite Donald Trump’s decision to re-impose sanctions on the state, Downing Street has said. The government “regrets” the US president’s move to restore restrictions on Tehran that were lifted when it signed up to a nuclear deal in 2015, and believes the agreement makes the world a safer place, No 10 insisted.
Following the arrests of four people, authorities in Argentina have uncovered how a former president may have used bribe money to buy U.S. properties, including luxury condos in New York City and South Florida.