Latest International trade News
What to know about Scott Bessent, Trump's pick for treasury secretary
WASHINGTON (AP) — President-elect Donald Trump has chosen money manager Scott Bessent, an advocate for deficit reduction and deregulation, to serve as his next treasury secretary. Bessent is a past supporter of Democrats who has become an enthusiastic supporter of Trump. He’s an...
Tariff hikes will backfire, and China can manage such 'external shocks,' a senior official says
HONG KONG (AP) — Higher tariffs on Chinese exports will backfire, just increasing prices paid by consumers, while China can manage to weather the impact of such “external shocks,” a senior Commerce Ministry official said Friday in Beijing. Responding to a reporter's question...
Trump's treasury pick could give an indication of what he plans to do about tariffs
WASHINGTON (AP) — President-elect Donald Trump’s decision on a treasury secretary is about far more than whose name will be printed on America’s money. The choice of how to fill his highest-profile outstanding Cabinet selection will be the clearest indication yet of how he...
Food prices worried most voters, but Trump's plans likely won't lower their grocery bills
Americans are fed up with the price of food, and many are looking to President-elect Donald Trump to lower their grocery bills. Trump often railed on the campaign trail against hefty price increases for bacon, cereal, crackers and other items. “We’ll get them...
Gold is suddenly not so glittery after Trump's White House victory
NEW YORK (AP) — After ripping higher for much of this year, the price of gold has suddenly become not so golden since Donald Trump's victory in the presidential election. Gold fell more than 4% in the four days since Election Day, when the broad U.S. stock market climbed nearly...
The global luxury goods market is forecast to shrink in 2025. Trump's tariffs could make it worse
MILAN (AP) — Global sales of personal luxury goods are forecast to shrink in 2025 for the first time since the Great Recession, according to a Bain consultancy study released Wednesday. The outlook could worsen if the sector is hit by tariffs promised by Donald Trump. “This could...
Frustrated Americans await the economic changes they voted for with Trump
WASHINGTON (AP) — Fed up with high prices and unimpressed with an economy that by just about any measure is a healthy one, Americans demanded change when they voted for president. They could get it. President-elect Donald Trump has vowed to topple many of the Biden...
Steve Madden to cut goods imported from China by up to 45% as it prepares for Trump's tariff pledge
NEW YORK (AP) — Shoe brand Steve Madden will be cutting the goods that it imports from China by as much as 45% next year as it prepares for President-elect Donald Trump's pledge to slap steep and sweeping tariffs on imports from other countries. The company, known for its trendy...
China is bracing for fresh tensions with Trump over trade, tech and Taiwan
TAIPEI, Taiwan (AP) — The first time China faced Donald Trump in the White House, there was a trade war, a breach of protocol involving Taiwan’s former leader, and a president-to-president bromance that turned sour. As President-elect Trump prepares to start his second term in...
China's exports grew 12.7% in October, fastest pace in more than 2 years
HONG KONG (AP) — China's exports rose 12.7% in October from a year earlier, the fastest monthly growth in more than two years, according to customs data released Thursday. The report came a day after former President Donald Trump won Tuesday’s election, gaining a second term as...
