Latest International trade News

Gantry cranes stand idle at APM Terminals in Elizabeth, N.J., Monday, May 11, 2020. The coronavirus pandemic and the lockdowns and travel restrictions meant to contain it have hammered the world economy. (AP Photo/Mark Lennihan)

U.S. trade gap rises to $49.4 billion in April

Jun. 4, 2020 9:54 AM EDT

WASHINGTON (AP) — The U.S. trade deficit hit the highest level in eight months in April. Exports and imports both posted record monthly drops as the coronavirus pandemic smothered America's commerce with other countries. The gap between what the U.S. sells and what it buys abroad jumped to $49.4 billion in...

Health workers attend a training session on handling the coronavirus pandemic in villages in Fatehpur, Uttar Pradesh state, India, Wednesday, June 3, 2020. (AP Photo/Rajesh Kumar Singh)

Asia Today: Australia to restart flights to New Zealand

Jun. 4, 2020 9:26 AM EDT

CANBERRA, Australia (AP) — Canberra Airport opened a register for travelers interested in flying from the Australian capital to New Zealand on July 1 in a proposed resumption of international travel. The proposal to restart flights connecting the two capitals was under discussion between the two...

In this handout photo provided by the Press Information Bureau, Indian Prime Minister Narendra Modi speaks during a virtual meeting with Australian Prime Minister Scott Morrison, in New Delhi, India, Thursday, June 4, 2020. India and Australia upgraded their relationship with a raft of agreements Thursday, including strengthening defense ties and cooperation in the Indo-Pacific maritime issues. The agreements were signed during a virtual summit between Modi and Morrison. (Press Information Bureau via AP)

India, Australia sign defense, trade deals to bolster ties

Jun. 4, 2020 6:05 AM EDT

NEW DELHI (AP) — India and Australia upgraded their relationship with a raft of agreements Thursday, including strengthening defense ties and cooperation in the Indo-Pacific maritime issues. The agreements were signed during a virtual summit between Indian Prime Minister Narendra Modi and his Australian...

A cargo ship approaches the port of Piraeus as other ships are anchored, near Athens, Greece, Tuesday, May 26, 2020. During the new coronavirus pandemic, about 150,000 seafarers are stranded at sea in need of crew changes, according to the International Chamber of Shipping. Roughly another 150,000 are stuck on shore, waiting to get back to work. (AP Photo/Petros Giannakouris)

Coronavirus strands merchant ship crews at sea for months

Jun. 4, 2020 3:56 AM EDT

ATHENS, Greece (AP) — For nearly four months, Capt. Andrei Kogankov and his oil tanker crew haven’t set foot on dry land. With global travel at a virtual standstill due to the coronavirus pandemic, the Russian captain was forced to extend his normal contract. He still doesn’t know when...

FILE - In this March 18, 2020 file photo, a Southern China Airlines flight from Guangzhou, China passes in front of the sun as it arrives at Vancouver International Airport in Richmond, British Columbia, Canada. On Wednesday, June 3, 2020, the Trump administration moved to block Chinese airlines from flying to the U.S. in an escalation of trade and travel tensions between the two countries. (Jonathan Hayward/The Canadian Press via AP)

Trump administration moves to block Chinese airlines from US

Jun. 3, 2020 11:52 PM EDT

The Trump administration moved Wednesday to block Chinese airlines from flying to the U.S. in an escalation of trade and diplomatic tensions between the two countries. The Transportation Department said it would suspend passenger flights of four Chinese airlines to and from the United States starting June 16. The...

In this Monday, March 2, 2020 file photo, European Commission's Head of Task Force for Relations with the United Kingdom Michel Barnier, right, speaks with the British Prime Minister's Europe adviser David Frost during the start of the first round of post -Brexit trade talks between the EU and the UK, at EU headquarters in Brussels. Slowed by the coronavirus pandemic and whipped up by a British-imposed deadline, talks between the EU and the UK on a future relationship in the wake of Brexit are struggling to make significant progress. A third negotiation session is drawing to a close on Friday, May 15, 2020 but so far, just over 100 days after the official exit of the UK from the EU, fundamental gaps still exist. (Olivier Hoslet, Pool Photo via AP, File)

Bank of England reminds banks of 'no deal' Brexit risk

Jun. 3, 2020 8:43 AM EDT

LONDON (AP) — The Bank of England is reminding British banks to prepare for the possibility that the U.K. and the European Union will fail to agree on a trade deal by the end of the year, amid few signs of progress in discussions between the two sides. In a statement Wednesday following reports that its...

European Union's chief Brexit negotiator Michel Barnier speaks during a media conference, following the third round of Brexit talks between the EU and Britain, at EU headquarters in Brussels, Friday, May 15, 2020. Talks between the European Union and the United Kingdom on their future relationship in the wake of Brexit have ground to a near-standstill despite the urgency for progress before a summit next month.(Francois Lenoir, Pool Photo via AP)

EU, UK leaders to meet this month as post-Brexit talks stall

Jun. 2, 2020 11:32 AM EDT

BRUSSELS (AP) — The European Union's top executive and British Prime Minister Boris Johnson will meet this month for talks that could give new momentum to the stalled post-Brexit negotiations. As a fourth round of talks between teams of negotiators resumed Tuesday with little hope for a breakthrough on a...

Na Seung-sik, deputy minister of the Ministry of Trade, Industry and Energy's Office of Trade and Investment, speaks during a briefing at the government complex in Sejong, South Korea, Tuesday, June 2, 2020. Reigniting a bitter row between key U.S. allies, South Korea on Tuesday said it will reopen a complaint filed with the World Trade Organization over Japan’s tightened controls on technology exports to its companies, blaming Tokyo for an alleged lack of commitment in resolving mutual grievances. (Kang Jong-min/Newsis via AP)

South Korea to reopen WTO complaint over Japan trade curbs

Jun. 2, 2020 3:27 AM EDT

SEOUL, South Korea (AP) — Reigniting a bitter row between key U.S. allies, South Korea on Tuesday said it will reopen a complaint filed with the World Trade Organization over Japan’s tightened controls on technology exports to its companies, blaming Tokyo for an alleged lack of commitment in...

A woman wearing a face mask walks past a bank electronic board showing the Hong Kong share index at Hong Kong Stock Exchange Monday, June 1, 2020. Asian stock markets have rebounded after U.S. President Donald Trump avoided reigniting a trade war with China amid tension. (AP Photo/Vincent Yu)

Asian shares mostly higher following Wall Street gains

Jun. 2, 2020 12:02 AM EDT

TOKYO (AP) — Shares were mostly higher in Asia on Tuesday, lifted by moves to reopen many regional economies from shutdowns aimed at containing the coronavirus pandemic. Benchmarks rose in Tokyo, Hong Kong and Seoul but fell in Shanghai and Sydney. Jakarta’s main index jumped 2% and...

A worker wearing a protective face mask to help curb the spread of the new coronavirus wipes window panels of a fashion clothing store in Beijing, Thursday, May 28, 2020. The legislature on Thursday approved a government budget that will increase spending to generate jobs in an effort to reverse an economic slump after Chinese industries were shut down to fight the coronavirus pandemic. (AP Photo/Andy Wong)

China's manufacturing still sluggish as virus hits exports

May. 30, 2020 11:55 PM EDT

BEIJING (AP) — China's manufacturing activity expanded in May but at a sluggish pace for the second straight month as the coronavirus pandemic weighed on the global economy. A monthly purchasing managers’ index issued Sunday slipped to 50.6, down from 50.8 in April. A reading above 50 means that...