Latest International trade News

China's quarterly economy growth sinks to 6%, a 26-year low

Oct. 17, 2019 10:13 PM EDT

BEIJING (AP) — China's economic growth slowed to 6% over a year ago in the latest quarter, its lowest level in at least 26 years, amid a tariff war with Washington and weakening domestic consumer demand. The figure reported Friday was down from the previous quarter's 6.2%. Chinese trade has suffered from...

GM workers to stay on picket line until vote on new contract

Oct. 17, 2019 8:59 PM EDT

DETROIT (AP) — Striking General Motors workers will stay on the picket lines for at least another week until they vote on a tentative contract with the company. Factory-level officials from the United Auto Workers union voted to recommend the agreement to members at a daylong meeting in Detroit Thursday....

IMF head says more needed to boost growth than US-China deal

Oct. 17, 2019 6:56 PM EDT

WASHINGTON (AP) — The International Monetary Fund's new leader said Thursday that a trade truce between the United States and China could trim expected losses to the world economy but won't be enough to produce strong global growth. Before last week's tentative trade agreement, the IMF had estimated that...

The Latest: Billionaire gov says he wasn't aware of subsidy

Oct. 17, 2019 5:38 PM EDT

LEWISBURG, W.Va. (AP) — The Latest on The family of the billionaire governor of West Virginia getting a $125,000 taxpayer subsidy (all times local): 5:00 p.m. The billionaire governor of West Virginia says he didn't know one of his family businesses took in a $125,000 federal subsidy meant to help farmers...

APNewsBreak: Billionaire governor's family farms get subsidy

Oct. 17, 2019 5:38 PM EDT

LEWISBURG, W.Va. (AP) — A farming business owned by the family of West Virginia's billionaire governor has received $125,000 in soybean and corn subsidies, the maximum allowed from a federal program meant to help American farmers through the U.S. trade war with China. There is no evidence Gov. Jim Justice...

US-China trade war weighing on world's growth, IMF says

Oct. 17, 2019 4:03 PM EDT

The global economy is slowing, largely because of the U.S. trade war with China, according to the 189-member International Monetary Fund. The Washington-based institution is the world's lender of last resort, providing emergency loans when countries face financial crisis. In its latest forecast the IMF blamed...

Slowing economy, trade wars, drag on US rail companies

Oct. 17, 2019 1:25 PM EDT

OMAHA, Neb. (AP) — The slowing economy and ongoing trade disputes are dragging railroad profits down in the second half of the year. Two railroads, Union Pacific and CSX, have reported declining profit and revenue this week as they hauled less grain, imported goods and other products. Union Pacific's...

Europe's specialty food makers brace for US tariffs

Oct. 17, 2019 12:25 PM EDT

MILAN (AP) — European producers of specialty agricultural products like French wine, Italian Parmesan and Spanish olives are facing a U.S. tariff hike due Friday with a mix of trepidation and indignation at being dragged into a trade war they feel they have little to do with. The tariffs on $7.5 billion...

What's in the proposed UK-EU Brexit deal?

Oct. 17, 2019 11:32 AM EDT

BRUSSELS (AP) — Britain and the European Union have a Brexit deal — and if it is ratified, people and businesses will finally have a measure of certainty about what lies ahead. That's a big if. This is not the first time the two sides have proclaimed an agreement — only for it to be shot down...

Global shares rally on tentative Brexit deal

Oct. 17, 2019 8:07 AM EDT

BANGKOK (AP) — Global markets were boosted Thursday by news that Britain and the European have agreed on an outline Brexit deal after days of intense negotiations. Benchmarks in London and Frankfurt rallied and Wall Street was positioned for gains when the market opens in New York. Although news of a...