Latest Global trade News

Tariffs take toll on whiskey exports in last half of 2018

Feb. 12, 2019 11:07 AM EST

LOUISVILLE, Ky. (AP) — Retaliatory tariffs caused a sharp downturn in American whiskey exports in the last half of 2018 as distillers started feeling the pain from global trade disputes, an industry trade group said Tuesday. Exports to some key overseas markets gyrated wildly last year for producers of...

Late burst of buying on Wall Street leaves indexes mixed

Feb. 8, 2019 4:57 PM EST

U.S. stock indexes stemmed an early slide Friday, finishing mostly higher and nudging the benchmark S&P 500 index to its second weekly gain in a row. Gains in technology and consumer goods companies outweighed losses in financial stocks and retailers as investors continued to size up the latest batch of...

EU slashes its forecasts for economic growth

Feb. 7, 2019 10:24 AM EST

FRANKFURT, Germany (AP) — European Union officials have slashed their growth forecast for the 19 countries that use the euro, saying even the lower estimate was vulnerable to "large uncertainty" from slowing growth in China and weakening global trade. The EU's executive Commission cut the forecast for this...

Trade war, diesel troubles hold back profit at Daimler

Feb. 6, 2019 4:52 AM EST

FRANKFURT, Germany (AP) — Automaker Daimler said Wednesday that fourth-quarter net profit fell 49 percent to 1.64 billion euros ($1.87 billion) as its Mercedes-Benz luxury car business was buffeted by trade conflict, diesel woes and costs for developing new models and technologies. Revenue rose 7 percent...

The Latest: Soros warns on China, urges US take tough line

Jan. 24, 2019 3:42 PM EST

DAVOS, Switzerland (AP) — The Latest on the World Economic Forum in Davos, Switzerland (all times local): 9:25 p.m. Billionaire philanthropist George Soros says he thinks Chinese President Xi Jinping is "the most dangerous opponent of open societies." Soros said Thursday during a speech on the sidelines of...

European divisions beyond Brexit on display in Davos

Jan. 24, 2019 1:09 PM EST

DAVOS, Switzerland (AP) — Europe's divisions were on display Thursday at the World Economic Forum as hundreds of protesters descended on the Swiss ski resort of Davos to lambast the elite attendees for caring more about their balance sheets than the state of the world. Shouting "anti-capitalista" and other...

At Davos, battle lines are drawn over trade and cooperation

Jan. 23, 2019 6:51 PM EST

DAVOS, Switzerland (AP) — World leaders in favor of international cooperation and free trade struck back Wednesday against the wave of populist nationalism that has featured more prominently than usual at the gathering of elites in Davos, Switzerland. As a dizzying array of heads of state - from Poland to...

The Latest: Official says EU needs clarity to delay Brexit

Jan. 23, 2019 1:45 PM EST

DAVOS, Switzerland (AP) — The Latest on the World Economic Forum in Davos, Switzerland (all times local): 6:55 p.m. The European Union's top economy official says the 27 countries that will remain EU members after Brexit can grant any request by Britain to postpone the breakup only if it comes with some...

China, Germany promise closer financial cooperation

Jan. 18, 2019 5:30 AM EST

BEIJING (AP) — China and Germany promised Friday to open their markets wider to each other's banks and insurers, giving Beijing a burst of positive trade news amid conflicts with Washington and Europe. The two sides also affirmed support for a global trading system that other governments worry is...

Chinese exports to US sank last month as tariffs took a toll

Jan. 14, 2019 11:05 AM EST

BEIJING (AP) — China's 2018 trade surplus with the United States surged to a record $323.3 billion, but exports contracted in December as the delayed impact of President Donald Trump's tariff hikes started to hurt demand. Exports to the United States in 2018 rose 11.3 percent to $478.4 billion despite...