Latest Trade barriers News

Japan, EU sign trade deal to eliminate nearly all tariffs

Jul. 17, 2018 8:41 PM EDT

TOKYO (AP) — The European Union and Japan signed a landmark deal on Tuesday that will eliminate nearly all tariffs on products they trade. The ambitious pact signed in Tokyo runs counter to President Donald Trump's moves to hike tariffs on imports from many U.S. trading partners. It covers a third of the...

Lawmakers warn Trump tariffs threaten local newspapers

Jul. 17, 2018 7:23 PM EDT

WASHINGTON (AP) — Members of Congress warned Tuesday that newspapers in their home states are in danger of reducing news coverage, laying off workers or going out of business if the United States maintains recently imposed tariffs on Canadian newsprint. The Trump administration ordered the tariffs in...

Powell says strong economy will keep rate hikes coming

Jul. 17, 2018 4:23 PM EDT

WASHINGTON (AP) — Federal Reserve Chairman Jerome Powell told lawmakers Tuesday that strong economic growth will keep the central bank on a path to gradually raise interest rates. But he noted that President Donald Trump's get-tough trade policies run the risk of dampening future growth if they lead to...

The Latest: Senators press Fed chairman on trade threats

Jul. 17, 2018 12:01 PM EDT

WASHINGTON (AP) — The Latest on Federal Reserve Chairman Jerome Powell's semi-annual testimony to Congress on Tuesday (all times local): ___ 11:40 a.m. Powell faced a number of questions about a tit-for-tat trade war with penalty tariffs imposed by the United States on its trading partners and those...

World markets turn lower ahead of comments by Fed chair

Jul. 17, 2018 7:44 AM EDT

SINGAPORE (AP) — World markets turned lower on Tuesday as investors looked ahead to Federal Reserve Chairman Jerome Powell's testimony to Congress for clues on U.S. interest rates. KEEPING SCORE: Germany's DAX shed 0.2 percent to 12,537 and the CAC 40 in France was down 0.4 percent at 5,3889. The FTSE 100...

Asian stocks fall, weighed by tensions over US trade tariffs

Jul. 16, 2018 11:26 PM EDT

SINGAPORE (AP) — Asian markets fell on Tuesday as mounting tensions over U.S. tariffs overshadowed data suggesting global growth was still on track. KEEPING SCORE: South Korea's Kospi lost 0.2 percent to 2,297.64 and Hong Kong's Hang Seng lost 1.0 percent to 28,247.53 in morning trading. The Shanghai...

US: Sanction exemptions open to those reducing Iran imports

Jul. 16, 2018 5:25 PM EDT

WASHINGTON (AP) — Countries and businesses that continue to import Iranian oil could avoid penalties by making "significant reductions" as Washington re-imposes sanctions on Tehran later this year, according to top U.S. officials. "We want people to reduce oil purchases to zero, but in certain cases if...

US challenges China, EU and others at WTO over steel tariffs

Jul. 16, 2018 5:06 PM EDT

WASHINGTON (AP) — The Trump administration on Monday brought cases against China, the European Union, Canada, Mexico and Turkey at the World Trade Organization for retaliating against American tariffs on imported steel and aluminum. The United States has imposed tariffs of 25 percent on steel and 10...

Q&A: World Trade Organization's role in US-China dispute

Jul. 16, 2018 1:38 PM EDT

FRANKFURT, Germany (AP) — China is turning to the World Trade Organization as a way to fight back against the latest tariffs proposed by U.S. President Donald Trump. Its complaint to the organization, which oversees global trade rules, comes less than one week after the U.S. government proposed 10 percent...

Heading for clouds: Aviation sector faces trade turbulence

Jul. 16, 2018 12:30 PM EDT

LONDON (AP) — Aviation is soaring: Passenger traffic is up, fuel prices are under control and rising demand from Asia is driving aircraft orders. So what could possibly go wrong? One big thing: A trade war. Aircraft makers at this week's Farnborough International Airshow, a biannual extravaganza where...