Latest Economy News

Powerful, obscure law is basis for Trump 'order' on trade

Aug. 24, 2019 9:34 PM EDT

BIARRITZ, France (AP) — President Donald Trump is threatening to use the emergency authority granted by a powerful but obscure federal law to make good on his tweeted "order" to U.S. businesses to cut ties in China amid a spiraling trade war between the two nations. China's announcement Friday that it was...

Crowds fill Argentine streets to back conservative president

Aug. 24, 2019 8:28 PM EDT

BUENOS AIRES, Argentina (AP) — Tens of thousands of Argentines jammed streets in the capital and other cities Saturday to show support for conservative President Mauricio Macri, who is facing a tough fight heading into general elections in October in a country beset with economic struggles. Chanting "We...

Britain's leader says trade deal with US won't be easy

Aug. 24, 2019 7:22 PM EDT

BIARRITZ, France (AP) — British Prime Minister Boris Johnson warned Saturday that getting a trade deal with the United State won't be "plain sailing" because of barriers to the United Kingdom's goods in American markets. But opportunities abound. Speaking to reporters as he flew to France for the Group of...

The Latest: 68 arrests reported at protest near G-7 summit

Aug. 24, 2019 5:10 PM EDT

BIARRITZ, France (AP) — The Latest on the Group of Seven summit (all times local): 11:05 p.m. French authorities have detained 68 people taking part in a tense protest near the G-7 summit. The regional administration says those detained are accused of throwing projectiles, concealing their faces or...

Economic storm clouds hovering over Trump and global leaders

Aug. 24, 2019 3:14 PM EDT

BIARRITZ, France (AP) — Under the threatening clouds of a global economic slowdown, President Donald Trump is confronting the consequences of his preference to go it alone, with low expectations that the leaders of the richest democracies can make substantive progress on an array of issues at their summit...

The Latest: Trump dining with G-7 leaders in France

Aug. 24, 2019 2:19 PM EDT

BIARRITZ, France (AP) — The Latest on President Donald Trump (all times local): 8:05 p.m. President Donald Trump is dining with world leaders attending the annual Group of Seven summit in France. The opening event of the meeting of the world's richest democracies is being held at the Biarritz lighthouse...

Even before photo op of G-7 allies, sharp elbows come out

Aug. 24, 2019 2:14 PM EDT

BIARRITZ, France (AP) — The posturing by leaders of the G-7 rich democracies began well before they stood together for a summit photo. French President Emmanuel Macron, the host, cornered Donald Trump at the American leader's hotel with an impromptu lunch invitation. It was something of a power move by...

The Latest: Iran imposes sanctions on US think tank

Aug. 24, 2019 1:43 PM EDT

DUBAI, United Arab Emirates (AP) — The Latest on tensions in the Persian Gulf (all times local): 9 p.m. Iran's Foreign Ministry says it has imposed sanctions on the Washington-based Foundation for Defense of Democracies and its CEO for its role in promoting sanctions and "economic terrorism" against Iran....

Trump raises tariffs on Chinese goods as trade war escalates

Aug. 24, 2019 12:46 PM EDT

WASHINGTON (AP) — Escalating his trade fight with China, President Donald Trump has raised retaliatory tariffs and ordered American companies to consider alternatives to doing business there. He also blamed his appointed head of the U.S. central bank, Federal Reserve Chairman Jerome Powell, for the state...

4 European countries agree on trade deal with Mercosur

Aug. 24, 2019 12:20 PM EDT

BERLIN (AP) — The European Free Trade Association, a group of four countries outside the European Union, has largely concluded a free-trade agreement with Mercosur, a South American trade bloc that includes Brazil. The Swiss economy ministry said Saturday that the agreement "in substance" was reached in...