Latest International trade News

Cars? Pork? Perfume? China has many options if a trade war breaks out with Europe

Jun. 13, 2024 06:16 AM EDT

BEIJING (AP) — Now that Europe has announced tariffs on China-made electric cars, the continent is bracing to see if the other shoe drops. Will China retaliate with tariffs on European cars, taking aim at Germany's BMW and Mercedes? Would it put tariffs on agricultural products,...

The European Union moves to hike tariffs on Chinese electric car imports, escalating trade spat

Jun. 12, 2024 06:27 AM EDT

BRUSSELS (AP) — The European Union moved Wednesday to hike tariffs on Chinese electric vehicles, escalating a trade dispute over Beijing's subsidies for the exports that Brussels worries is hurting domestic automakers. The European Commission, the EU's executive arm, said it would...

China's exports grow 7.6% in May, beating expectations despite trade tensions

Jun. 07, 2024 10:05 AM EDT

HONG KONG (AP) — China’s exports in May grew at their fastest pace in more than a year despite trade tensions, though imports fell short of analyst expectations, according to customs data released Friday. Exports jumped 7.6% in May from the same month last year to $302.35...

Trump or Biden? Either way, US seems poised to preserve heavy tariffs on imports

May. 21, 2024 06:47 AM EDT

WASHINGTON (AP) — As president, Donald Trump imposed a 25% tariff on foreign steel, which hurt Clips & Clamps Industries, a Michigan auto supplier — raising its materials prices, making it harder to compete with overseas rivals and costing it several contracts. Jeff...

Biden hikes tariffs on Chinese EVs, solar cells, steel, aluminum — and snipes at Trump

May. 14, 2024 17:45 PM EDT

WASHINGTON (AP) — President Joe Biden slapped major new tariffs on Chinese electric vehicles, advanced batteries, solar cells, steel, aluminum and medical equipment on Tuesday, taking potshots at Donald Trump along the way as he embraced a strategy that's increasing friction between the world's...

Biden vows to shield US steel industry by blocking Japanese merger and seeking new Chinese tariffs

Apr. 17, 2024 21:55 PM EDT

PITTSBURGH (AP) — President Joe Biden suggested to cheering, unionized steelworkers on Wednesday that his administration would thwart the acquisition of U.S. Steel by a Japanese company, and he called for a tripling of tariffs on Chinese steel, seeking to use trade policy to win over...

China's exports tumble 7.5% in March and imports also fall as demand slows

Apr. 12, 2024 07:41 AM EDT

HONG KONG (AP) — China’s exports contracted in March after growing in the first two months of the year, underscoring the uneven nature of the country's recovery from the pandemic. Customs data released Friday show exports declined 7.5% in March from a year earlier, while imports...

China wins WTO dispute with Australia over steel products

Mar. 27, 2024 00:42 AM EDT

SYDNEY (AP) — China has won a nearly three-year-long dispute with Australia at the World Trade Organization over tariffs on steel products that began during a low point of bilateral relations between the countries, and Australia's trade minister said Wednesday his government accepted the ruling....

The EU will impose tariffs on Russian grain, fearing Moscow will use exports as a weapon of war

Mar. 22, 2024 06:21 AM EDT

BRUSSELS (AP) — The European Commission wants to prevent Russia from using farm products as a tool to wreak havoc on the EU market and is moving to impose tariffs on grain imports from Russia and Belarus. The tariffs are also aimed at denying Russia revenue, because they will...

France's Senate rejects bill to ratify EU-Canada trade deal because of farmers' concerns

Mar. 21, 2024 18:36 PM EDT

PARIS (AP) — France's Senate voted overwhelmingly Thursday to reject legislation to ratify a 2017 trade deal between the European Union and Canada that has been criticized by farmers as bringing unfair competition from abroad. The EU-Canada Comprehensive Economic and Trade...