Latest International trade News

APNewsBreak: Billionaire governor's family farms get subsidy

Oct. 17, 2019 2:43 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...

GM contract: worker pay hikes, factory closings move forward

Oct. 17, 2019 2:33 PM EDT

DETROIT (AP) — A tentative four-year contract with striking General Motors gives workers a mix of pay raises, lump sum payments and an $11,000 signing bonus. In return, the contract allows GM to proceed with factory closures in Lordstown, Ohio; Warren, Michigan; and near Baltimore. Details were posted...

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

Oct. 17, 2019 2:27 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: Dems slam West Virginia governor for subsidy

Oct. 17, 2019 2:26 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): 2:15 p.m. The West Virginia Democratic Party is slamming the state's billionaire governor after The Associated Press reported that one of his family...

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...

China appeals to Washington for quick end to trade war

Oct. 17, 2019 6:28 AM EDT

BEIJING (AP) — China appealed to Washington for a quick end to their trade war but gave no indication Thursday what additional steps Beijing might want before carrying out what President Donald Trump says is a promise to buy up to $50 billion of American farm goods. Trump agreed Friday to delay a tariff...

Asian shares mixed on caution over China-US trade deal

Oct. 17, 2019 1:01 AM EDT

BANGKOK (AP) — Asian shares were mixed Thursday after officials signaled work remains to be done on an agreement for a truce in the tariff war between the U.S. and China. Hong Kong led regional gains after its chief executive, Carrie Lam, announced help for the property sector. The semi-autonomous city's...