Latest Economic policy News

S. Korea cancels Japan intelligence deal amid trade dispute

Aug. 22, 2019 2:07 PM EDT

SEOUL, South Korea (AP) — South Korea said Thursday it will terminate an intelligence-sharing deal with Japan that focused on classified information about North Korea, a surprise announcement that is likely to set back U.S. efforts to bolster security cooperation with two of its most important allies in...

US stocks turn mostly lower amid doubts over Fed rate cut

Aug. 22, 2019 1:08 PM EDT

Stocks gave up an early gain and veered lower in midday trading Thursday as investors grew less certain about the likelihood that the Federal Reserve will lower interest rates again next month. Losses in technology, health care and communication services stocks outweighed gains in banks, consumer goods companies...

European Central Bank weighs stimulus mix as Germany slows

Aug. 22, 2019 9:49 AM EDT

FRANKFURT, Germany (AP) — The European Central Bank is weighing a broad package of stimulus measures including an interest rate cut and new bond purchases to counter worries that economic growth is slowing more than expected amid U.S.-China trade tensions. The written account of the July 25 policy meeting...

The Latest: Merkel says her 30-days remark not a deadline

Aug. 22, 2019 9:34 AM EDT

PARIS (AP) — The Latest on British Prime Minister Boris Johnson's effort to reopen Brexit talks on European trip (all times local): 3:30 p.m. German Chancellor Angela Merkel says a suggestion she made that a solution to the Brexit dispute be solved in 30 days shouldn't be interpreted as a strict deadline....

Global stocks subdued as investors seek more clues on Fed

Aug. 22, 2019 7:54 AM EDT

BEIJING (AP) — Global stock markets were subdued Thursday following Wall Street's rebound as investors looked ahead to a speech by the U.S. Federal Reserve chairman for clues about possible interest rate cuts. Investor reaction was muted following Wednesday's release of notes from the latest Fed meeting...

Trump flip-flops on tax cuts, saying US has 'strong economy'

Aug. 22, 2019 6:12 AM EDT

WASHINGTON (AP) — A day after considering cutting taxes to promote economic growth, President Donald Trump changed course and said he would abandon the idea because the nation already had "a strong economy." Trump's flip-flop on Wednesday came after recent market volatility and economic uncertainty, and...

China warns US tariffs will 'escalate trade friction'

Aug. 22, 2019 4:26 AM EDT

BEIJING (AP) — China appealed to Washington on Thursday to "meet each other halfway" and settle a trade war instead of going ahead with planned tariff hikes Beijing warned will trigger retaliation. Exporters are preparing for a Sept. 1 increase in U.S. duties in a fight over trade and technology. Those are...

Asian stocks mixed after Wall Street rebound

Aug. 22, 2019 12:21 AM EDT

BEIJING (AP) — Asian stock markets are mixed Thursday following Wall Street's rebound as investors looked ahead to a speech by the U.S. Federal Reserve chairman for clues about possible interest rate cuts. Investor reaction was muted following Wednesday's release of notes from the latest Fed meeting...

China's rust belt looks abroad as growth slows, tariffs bite

Aug. 21, 2019 11:21 PM EDT

YINGKOU, China (AP) — From Thailand to Kenya, trains run on tracks from steel mills in China's northeast, a rust-belt region that is trying to capitalize on a multibillion-dollar national initiative to build ports, railways and other projects abroad. Announced in 2012, the Belt and Road Initiative is...

Pence steps up pressure for trade deal with Mexico, Canada

Aug. 21, 2019 8:03 PM EDT

SANTA FE, N.M. (AP) — Vice President Mike Pence stepped up pressure on Congress to support the Trump administration's new trade deal with Mexico and Canada, taking his pitch Wednesday to a congressional swing district in New Mexico. Speaking to a crowd at an oilfield services company in the Permian basin...