Oil prices soar as US and China agree to hold fire in trade war December 3, 2018 Oil prices soared overnight after a ceasefire in the US-China trade war was announced yesterday. International standard Brent crude was up 4.7 per cent to $62.42 a barrel this morning UK time. At the G20 meeting in Argentina over the weekend the US and China, the world’s two largest economies, agreed not to impose new [...]
Trump says China has agreed to cut tariffs on US cars as trade thaw continues December 3, 2018 US President Donald Trump said early this morning that China has agreed to lift its tariffs on US cars. Trump tweeted: https://twitter.com/realDonaldTrump/status/1069441198157455360 Trump said current Chinese tariffs on US cars were 40 per cent, but he did not say how much he expected them to fall. There has been no confirmation from China at this [...]
Trump cancels new tariffs as China pledges to reduce trade gap December 2, 2018 US president Donald Trump has scrapped plans to increase tariffs on Chinese goods, in an announcement that sees the year-long US-China trade war cool considerably. The White House announced it would hold fire on raising tariffs on $200bn (£156bn) worth of goods from China. They had been scheduled to increase to 25 per cent from 1 [...]
Japanese Prime Minister Shinzo Abe urges Theresa May to avoid no-deal Brexit December 1, 2018 Japanese Prime Minister Shinzo Abe has today asked Prime Minister Theresa May to do what she can to avoid a no-deal Brexit. Speaking at a bi-lateral meeting on the sidelines of the G20 summit in Argentina, Abe praised May for striking a deal with the EU. “I would like to once again ask for your [...]
G20 members agree to reform World Trade Organisation, says EU official December 1, 2018 G20 nations have agreed to reform the World Trade Organisation (WTO) according to European officials, with a preliminary draft of the announcement expected to be released at the end of the two-day meeting today. An EU official has claimed that leaders have acknowledged the need to improve the WTO and are in support of doing so. An agreement [...]
Oil prices hit one-year low after worst month since financial crisis November 30, 2018 Oil prices are struggling at more than a one-year low following its worst month since the financial crisis ten years ago. It has plunged 21 per cent during November, losing the returns it made throughout the year. Europe’s main share indexes in London, Frankfurt and Paris all sank, and Wall Street futures were pointing down [...]
US, Mexico and Canada sign new trade deal November 30, 2018 The US, Mexico and Canada today signed a new deal governing the more than one trillion dollars (£780bn) worth of trade between the three countries. US President Donald Trump, Canada’s Prime Minister Justin Trudeau and Mexico’s President Enrique Pena Nieto signed the deal known as the United States-Mexico-Canada Agreement today in Argentina at the start [...]
International trade secretary Liam Fox backs Theresa May’s Brexit deal November 30, 2018 International trade secretary Liam Fox this morning backed Theresa May’s Brexit deal as the prime minister ruled out a plan B. Leading Brexiteer Fox said he believed members of the cabinet would back the deal, despite a deeply divided parliament. Fox told the BBC Radio 4 Today Programme: “It is very difficult to get a deal [...]
Trump cancels meeting with Putin over Ukraine crisis November 29, 2018 US President Donald Trump has cancelled a meeting with Russian leader Vladmir Putin after the Russian navy seized two Ukranian vessels. The leaders were due to meet at the G20 in Argentina over the weekend, and the meeting was confirmed earlier today by the Kremlin. However, this afternoon Trump cancelled the meeting, citing Russian aggression [...]
America’s call to kick China out of the WTO is in no one’s interest November 26, 2018 China has “misbehaved” when it comes to global trade. That’s according to one of Donald Trump’s key economic advisers, who suggested last week that China should be evicted from the World Trade Organisation (WTO). It’s a clever move from the US administration, which conflates its dissatisfaction with multilateralism with the President’s putative trade war. If you [...]