Latest Global trade News

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...

China trade weakens after cities shut down to fight virus

May. 09, 2022 02:11 AM EDT

BEIJING (AP) — China’s export growth tumbled in April as global demand weakened, adding to pressure on the world’s second-largest economy after Shanghai and other industrial cities were shut down to fight virus outbreaks. Exports rose 3.7% over a year earlier to $273.6 billion,...

Hong Kong economy shrinks 4% under anti-virus controls

May. 03, 2022 07:55 AM EDT

HONG KONG (AP) — Hong Kong’s economy shrank by 4% compared with a year earlier in the quarter ending in March after the Chinese territory shut restaurants and other businesses to fight a spike in coronavirus infections. Growth plunged from the previous quarter’s 4% expansion,...

Yemen’s rebels criticize new, US-led task force in Red Sea

Apr. 16, 2022 07:25 AM EDT

CAIRO (AP) — Yemen’s Houthis criticized a new U.S.-led task force that will patrol the Red Sea following a series of attacks by the Iran-backed rebels in a waterway that’s essential to global trade. Mohammed Abdul-Salam, the Houthis’ chief negotiator and spokesman, said late...

IMF chief: Ukraine war and inflation threaten global economy

Apr. 14, 2022 11:04 AM EDT

WASHINGTON (AP) — The head of the International Monetary Fund warned Thursday that Russia's war against Ukraine was weakening the economic prospects for most of the world’s countries and called high inflation “a clear and present danger’’ to the global economy. IMF Managing...