Latest Global trade News

EU says US electric vehicle tax credit could break WTO rules

Aug. 11, 2022 11:37 AM EDT

BRUSSELS (AP) — The European Union expressed concern Thursday that a new U.S. tax credit plan aimed at encouraging Americans to buy electric vehicles would discriminate against European producers and break World Trade Organization rules. Under the Inflation Reduction Act nearing...

Taiwan warns China drills show ambitions beyond island

Aug. 09, 2022 09:13 AM EDT

PINGTUNG, Taiwan (AP) — Taiwan warned Tuesday that Chinese military drills aren't just a rehearsal for an invasion of the self-governing island but also reflect ambitions to control large swaths of the western Pacific, as Taipei conducted its own exercises to underscore it's ready to defend...

China's economy shrinks 2.6% during virus shutdowns

Jul. 15, 2022 01:09 AM EDT

BEIJING (AP) — China’s economy contracted in the three months ending in June compared with the previous quarter after Shanghai and other cities shut down to fight coronavirus outbreaks, but the government said a “stable recovery” is under way after businesses reopened. The...

WTO ministers reach deals on fisheries, food, COVID vaccines

Jun. 17, 2022 11:30 AM EDT

GENEVA (AP) — After all-night talks, members of the World Trade Organization early Friday reached a string of deals and commitments aimed at protecting stocks of ocean fish, broadening production of COVID-19 vaccines in the developing world, improving food security and reforming a 27-year-old...

WTO talks down to the wire with no major deals yet in sight

Jun. 16, 2022 11:54 AM EDT

GENEVA (AP) — Talks went down to the wire Thursday as the World Trade Organization was set to wrap up its first ministerial-level meeting in more than four years, with no firm deal so far on issues like food security, the fight against overfishing in the seas, and efforts to broaden access to...

WTO holds big meeting to tackle vaccines, food shortages

Jun. 12, 2022 16:02 PM EDT

GENEVA (AP) — The head of the World Trade Organization predicted a “bumpy and rocky" road as it opened its highest-level meeting in 4-1/2 years on Sunday, with issues like pandemic preparedness, food insecurity and overfishing of the world’s seas on the agenda. At a time when...

WTO looks to reach trade deals with its fate on the line

Jun. 11, 2022 02:51 AM EDT

GENEVA (AP) — The World Trade Organization is facing one of its most dire moments, the culmination of years of slide toward oblivion and ineffectiveness. Now may be a chance to turn the tide and reemerge as a champion of free and fair trade — or face a future further in doubt. ...

Davos updates | VW: Supply chain woes ease; orders backed up

May. 25, 2022 14:01 PM EDT

DAVOS, Switzerland (AP) — Executives with German automaker Volkswagen say at the World Economic Forum meeting in Davos that supply chain problems exacerbated by the Russia-Ukraine war are easing but they’re dealing with a huge backlog of orders. Audi board member Hildegard...

EXPLAINER: What's in Biden's proposed new Asia trade pact?

May. 23, 2022 04:00 AM EDT

TOKYO (AP) — President Joe Biden faced a dilemma on trade in Asia: He couldn't just rejoin the Trans-Pacific Partnership that his predecessor had pulled the U.S. out of in 2017. Many related trade deals, regardless of their content, had become politically toxic for U.S. voters, who associated...