Latest Global trade News

Greece ratifies deal to recoup 161 ancient treasures from US

Sep. 08, 2022 13:41 PM EDT

Greece has ratified a complex deal for the return, over coming decades, of 161 striking ancient Greek artifacts from a U.S. billionaire's collection after Athens conceded it had no evidence they'd been illegally excavated and exported. The mostly marble works date from 5300-2200 BC,...

EU: US electric vehicle tax credit reduces buyers' choices

Sep. 01, 2022 12:22 PM EDT

BRUSSELS (AP) — A new U.S. tax credit aimed at encouraging Americans to buy electric vehicles may backfire and limit choices for consumers because of concerns it's weighed against European Union manufacturers, the EU trade chief said Thursday. Valdis Dombrovskis held a virtual...

Six months into war, Russian goods still flowing to US

Aug. 25, 2022 16:02 PM EDT

BALTIMORE (AP) — On a hot, humid East Coast day this summer, a massive container ship pulled into the Port of Baltimore loaded with sheets of plywood, aluminum rods and radioactive material – all sourced from the fields, forests and factories of Russia. President Joe Biden...

New electric vehicle tax credits raise talk of trade war

Aug. 23, 2022 17:26 PM EDT

WASHINGTON (AP) — A new tax credit for U.S. buyers of qualifying electric vehicles made in North America has ignited the specter of a trade war as a domestic imperative of the Biden administration and Democrats collides with the complex realities of globalization. Democrats...

Russia's war at 6 months: A global economy in growing danger

Aug. 21, 2022 02:36 AM EDT

MECKENHEIM, Germany (AP) — Martin Kopf needs natural gas to run his family's company, Zinkpower GmbH, which rustproofs steel components in western Germany. Zinkpower's facility outside Bonn uses gas to keep 600 tons of zinc worth 2.5 million euros ($2.5 million) in a molten state...

EU says US electric vehicle tax credit could break WTO rules

Aug. 11, 2022 11:37 AM EDT

BRUSSELS (AP) — The European Union expressed concern Thursday that a new U.S. tax credit plan aimed at encouraging Americans to buy electric vehicles would discriminate against European producers and break World Trade Organization rules. Under the Inflation Reduction Act nearing...

Taiwan warns China drills show ambitions beyond island

Aug. 09, 2022 09:13 AM EDT

PINGTUNG, Taiwan (AP) — Taiwan warned Tuesday that Chinese military drills aren't just a rehearsal for an invasion of the self-governing island but also reflect ambitions to control large swaths of the western Pacific, as Taipei conducted its own exercises to underscore it's ready to defend...

China's economy shrinks 2.6% during virus shutdowns

Jul. 15, 2022 01:09 AM EDT

BEIJING (AP) — China’s economy contracted in the three months ending in June compared with the previous quarter after Shanghai and other cities shut down to fight coronavirus outbreaks, but the government said a “stable recovery” is under way after businesses reopened. The...