Latest International trade News

EXPLAINER: What's the effect of Russian oil price cap, ban?

Dec. 02, 2022 18:12 PM EST

FRANKFURT, Germany (AP) — Western governments have agreed to cap the price of Russia's oil exports in an attempt to limit the fossil fuel earnings that support Moscow's budget, its military and the invasion of Ukraine. The cap is set to take effect Monday, the same day the...

Germany welcomes Biden comments in trade dispute

Dec. 02, 2022 07:50 AM EST

BERLIN (AP) — Germany on Friday welcomed President Joe Biden's apparent willingness to discuss tweaking U.S. legislation that European leaders say unfairly discriminates against their industries. Biden acknowledged during a visit to Washington by French President Emmanuel Macron on...

Finnish PM warns Russian win would empower aggressors

Dec. 02, 2022 01:01 AM EST

CANBERRA, Australia (AP) — Finland’s Prime Minister Sanna Marin warned an Australian audience Friday that a Russian victory over Ukraine would empower other aggressors and urged democracies against forming “critical dependencies” on authoritarian states such as China. Marin...

Seoul places new sanctions on North Korea over arms buildup

Dec. 01, 2022 23:31 PM EST

SEOUL, South Korea (AP) — South Korea on Friday sanctioned eight people and seven companies suspected of engaging in illicit activities to finance North Korea’s growing nuclear weapons and missile programs. The move, which prohibits South Koreans from conducting any type of...

EU edges closer to $60-per-barrel Russian oil price cap

Dec. 01, 2022 22:44 PM EST

BRUSSELS (AP) — The European Union was edging closer to setting a $60-per-barrel price cap on Russian oil — a highly anticipated and complex political and economic maneuver designed to keep Russia's supplies flowing into global markets while clamping down on President Vladimir Putin's ability...

Mexico tells US it wants to keep talking on trade disputes

Dec. 01, 2022 22:02 PM EST

MEXICO CITY (AP) — Mexico’s economy secretary on Thursday proposed yet another round of talks with the United States on a dispute over Mexico’s energy sector. Mexico hopes to stave off a full-fledged trade complaint under the U.s.-Mexico-Canada trade agreement. ...

Biden, Macron vow unity against Russia, discuss trade row

Dec. 01, 2022 20:17 PM EST

WASHINGTON (AP) — Presidents Joe Biden and Emmanuel Macron vowed to maintain a united front against Russia on Thursday amid growing worries about waning support for Ukraine's war effort in the U.S. and Europe. Biden also signaled he might be willing to tweak aspects of his signature climate...

EXPLAINER: US-European differences on climate law persist

Dec. 01, 2022 19:31 PM EST

WASHINGTON (AP) — President Joe Biden on Thursday tried to allay concerns raised by French President Emmanuel Macron about a clean energy law that benefits electric vehicles and other products made in North America. But the U.S. and Europe remain divided over the landmark law. ...

German parliament votes to approve EU-Canada trade pact

Dec. 01, 2022 08:18 AM EST

BERLIN (AP) — German lawmakers on Thursday approved a free-trade deal between the European Union and Canada, moving the accord a step closer to taking full effect. The pact, formally known as the Comprehensive Economic and Trade Agreement, or CETA, was signed in late 2016. Most of...

Jiang Zemin, who guided China's economic rise, dies

Nov. 30, 2022 14:13 PM EST

BEIJING (AP) — Jiang Zemin, who led China out of isolation after the army crushed the Tiananmen Square pro-democracy protests in 1989 and supported economic reforms that led to a decade of explosive growth, died Wednesday. He was 96. Jiang, who was president for a decade until 2003...