Latest International trade News

IMF, World Bank leaders appeal for an end to trade wars

Oct. 18, 2019 3:06 PM EDT

WASHINGTON (AP) — The leaders of the International Monetary Fund and the World Bank appealed to their 189 member countries on Friday to resolve widening disagreements on trade and other issues, warning that the divisions threaten to worsen the impact of a global slowdown. The IMF's managing director,...

Despair in Burgundy and beyond, as US tariffs hit EU goods

Oct. 18, 2019 2:46 PM EDT

CHABLIS, France (AP) — French vintners are begging for government aid. Italian farmers are scrambling for new export markets. And American shoppers are about to face supermarket sticker shock on European products. That's because some $7.5 billion in U.S. tariffs on European food, wine and other goods took...

Despite labor costs, GM averts financial woes of its past

Oct. 18, 2019 2:16 PM EDT

DETROIT (AP) — A decade ago, high labor costs helped drag a bloated and debt-ridden General Motors into a government-funded bankruptcy. Now, a contract deal reached this week with the United Auto Workers union will raise the company's costs once again, at a time when the auto industry is facing the...

Pence to visit Pennsylvania glass maker, tout trade pact

Oct. 18, 2019 12:25 PM EDT

DURYEA, Pa. (AP) — Vice President Mike Pence is returning to the presidential battleground state of Pennsylvania to make the case for Congress to pass President Donald Trump's rewrite of a trade pact with Canada and Mexico. Pence's Monday visit is to a high-tech glass maker near Scranton. That's near the...

China's economic slowdown deepens, weighing on global growth

Oct. 18, 2019 11:05 AM EDT

BEIJING (AP) — China's economic growth sank to a new multi-decade low in the latest quarter as a trade war with the U.S. deepened a slump that is weighing on the global economy. Growth in the world's second-largest economy slipped to 6% in the three months ending in September, down from the previous...

GM workers to stay on picket line until vote on new contract

Oct. 17, 2019 8:59 PM EDT

DETROIT (AP) — Striking General Motors workers will stay on the picket lines for at least another week until they vote on a tentative contract with the company. Factory-level officials from the United Auto Workers union voted to recommend the agreement to members at a daylong meeting in Detroit Thursday....

IMF head says more needed to boost growth than US-China deal

Oct. 17, 2019 6:56 PM EDT

WASHINGTON (AP) — The International Monetary Fund's new leader said Thursday that a trade truce between the United States and China could trim expected losses to the world economy but won't be enough to produce strong global growth. Before last week's tentative trade agreement, the IMF had estimated that...

The Latest: Billionaire gov says he wasn't aware of subsidy

Oct. 17, 2019 5:38 PM EDT

LEWISBURG, W.Va. (AP) — The Latest on The family of the billionaire governor of West Virginia getting a $125,000 taxpayer subsidy (all times local): 5:00 p.m. The billionaire governor of West Virginia says he didn't know one of his family businesses took in a $125,000 federal subsidy meant to help farmers...

APNewsBreak: Billionaire governor's family farms get subsidy

Oct. 17, 2019 5:38 PM EDT

LEWISBURG, W.Va. (AP) — A farming business owned by the family of West Virginia's billionaire governor has received $125,000 in soybean and corn subsidies, the maximum allowed from a federal program meant to help American farmers through the U.S. trade war with China. There is no evidence Gov. Jim Justice...

US-China trade war weighing on world's growth, IMF says

Oct. 17, 2019 4:03 PM EDT

The global economy is slowing, largely because of the U.S. trade war with China, according to the 189-member International Monetary Fund. The Washington-based institution is the world's lender of last resort, providing emergency loans when countries face financial crisis. In its latest forecast the IMF blamed...