Latest International trade News

Germany extends ban on Saudi arms sales

Sep. 18, 2019 10:16 AM EDT

BERLIN (AP) — Germany has extended its ban on defense industry exports to Saudi Arabia for another six months, despite some calls for it to be relaxed in the wake of the recent attacks on the country's oil production facilities. The government said Wednesday the ban had been extended for six months until...

The Latest: Merkel open to free trade agreement post-Brexit

Sep. 18, 2019 10:07 AM EDT

STRASBOURG, France (AP) — The Latest on Brexit (all times local): 3:45 p.m. German Chancellor Angela Merkel says she still sees a possibility for Britain to make "an orderly exit" from the European Union but Germany also is prepared for a disorderly Brexit. Merkel said a day after a telephone call with...

UK envoy tips trade deal with Australia months after Brexit

Sep. 18, 2019 3:42 AM EDT

CANBERRA, Australia (AP) — Britain's top trade envoy said Wednesday that she expects to strike a free trade deal with Australia within months of leaving the European Union. British International Trade Secretary Liz Truss met with Australian Trade Minister Simon Birmingham to lay the foundations for a...

Japan exports sink on weaker trade with China, US

Sep. 18, 2019 3:14 AM EDT

TOKYO (AP) — Japan's exports fell 8% in August from a year earlier, as trade tensions took a growing toll on demand across the region. Exports of machinery, vehicles and chemicals all declined, the Finance Ministry reported Wednesday. Exports totaled 6.1 trillion yen ($56 billion), while imports slipped...

Fed likely to cut rates a 2nd time as economic threats loom

Sep. 18, 2019 12:19 AM EDT

WASHINGTON (AP) — The Federal Reserve looks poised to cut interest rates for a second time Wednesday to help extend the economic expansion in the face of global weakness, President Donald Trump's trade war with China and geopolitical risks such as the attacks on Saudi Arabia's oil facilities. The modest...

Sanders-Biden feud ramps up in front of key union audience

Sep. 17, 2019 11:47 PM EDT

PHILADELPHIA (AP) — The high-stakes fight for working-class voters moved to Pennsylvania on Tuesday as a slate of Democratic White House hopefuls vowed to use the power of the presidency to crack down on corporate America and strengthen organized labor. But beneath all the agreement at the AFL-CIO...

South Korea downgrades Japan trade status as dispute deepens

Sep. 17, 2019 11:46 PM EDT

SEOUL, South Korea (AP) — South Korea on Wednesday dropped Japan from a list of countries receiving fast-track approvals in trade, a reaction to Tokyo's decision to downgrade Seoul's trade status amid a tense diplomatic dispute. South Korea' trade ministry said Japan's removal from a 29-member "white list"...

The Latest: Saudi minister: 50% of crude reduction restored

Sep. 17, 2019 8:56 PM EDT

DUBAI, United Arab Emirates (AP) — The Latest on tensions in the Persian Gulf and the fallout after weekend attack on major oil sites in Saudi Arabia (all times local): 10 p.m. Saudi Arabia's energy minister says 50% of the production cut by the attack on its oil processing plant has been restored. Prince...

FedEx profit falls, company cites uncertainty over trade

Sep. 17, 2019 7:49 PM EDT

DALLAS (AP) — Profit at FedEx fell 11% in its fiscal first quarter, as the package delivery company was buffeted by slower economic growth and the loss of business from retail giant Amazon. The results fell short of Wall Street expectations, and the company lowered its forecast for earnings through next...

Democrats push ahead with short-term bill to avoid shutdown

Sep. 17, 2019 6:44 PM EDT

WASHINGTON (AP) — Democrats controlling the House are steering clear of controversy in a short-term, government-wide spending measure that's needed to prevent a government shutdown at the end of September. House Speaker Nancy Pelosi has agreed to a White House request to replenish funds for bailout...