Latest International trade News

Police smash European cocaine 'super cartel,' arrest 49

Nov. 28, 2022 05:42 AM EST

BRUSSELS (AP) — Law enforcement authorities in six different countries have joined forces to take down a “super cartel" of drugs traffickers controlling about one third of the cocaine trade in Europe, the European Union crime agency said on Monday. Europol said 49 suspects have...

EU, US edging toward trade spat when both want unity instead

Nov. 25, 2022 12:43 PM EST

BRUSSELS (AP) — The European Union and the United States are treading precariously close to a major trans-Atlantic trade dispute at a time when the two Western giants want to show unity in the face of challenges from Russia and China. EU trade ministers on Friday insisted they...

Dominican sugar imports tied to forced labor rejected by US

Nov. 23, 2022 11:57 AM EST

SAN JUAN, Puerto Rico (AP) — The U.S. government announced Wednesday that it will detain all imports of sugar and related products made in the Dominican Republic by Central Romana Corporation, Ltd. amid allegations that it uses forced labor. A U.S. Customs and Border Protection...

First floating LNG terminal arrives at German port

Nov. 23, 2022 09:00 AM EST

BERLIN (AP) — The first of several ships that will serve as floating terminals to receive liquefied natural gas imports in Germany arrived Wednesday off the Baltic Sea port of Mukran. In response to Russia's invasion of Ukraine, Germany has scrambled to secure alternative sources...

Treasury releases more details of Russian oil price cap plan

Nov. 22, 2022 17:44 PM EST

WASHINGTON (AP) — The Treasury Department released new details Tuesday of its long-awaited plan to impose a price cap on Russian oil, but the U.S. and its allies are still finalizing how much they'll pay for petroleum exports that have helped fund the war in Ukraine. The new...

China anti-virus curbs spur fears of global economic impact

Nov. 22, 2022 09:26 AM EST

BEIJING (AP) — More than 253,000 coronavirus cases have been found in China in the past three weeks and the daily average is rising, the government said Tuesday, adding to pressure on officials who are trying to reduce economic damage by easing controls that confine millions of people to their...

Bulgaria to let Russian oil refinery export despite EU ban

Nov. 22, 2022 08:06 AM EST

SOFIA, Bulgaria (AP) — Bulgaria will allow a Black Sea refinery owned by a Russian oil company to keep operating and exporting oil products to the European Union until the end of 2024 despite warnings by Brussels that it is against the bloc’s sanctions. The deal between Bulgaria...

US and Chinese defense chiefs meet amid strained relations

Nov. 22, 2022 05:00 AM EST

SIEM REAP, Cambodia (AP) — The defense chiefs of the United States and China held talks Tuesday on the sidelines of a regional meeting in Cambodia to discuss strained bilateral relations and regional and global security issues, U.S. and Chinese officials said. It was the second...

Australia ratifies free trade deals with India and Britain

Nov. 21, 2022 23:40 PM EST

CANBERRA, Australia (AP) — Australia’s Parliament passed bilateral free trade agreements with India and Britain on Tuesday, leaving those partner nations to bring the deals into force. The deals are crucial for Australia to diversify its exports from the troubled Chinese market...

US pushes defense ties with Indonesia as China strengthens

Nov. 21, 2022 07:26 AM EST

JAKARTA, Indonesia (AP) — U.S. Defense Secretary Lloyd J. Austin met his Indonesian counterpart on Monday to push stronger defense ties amid growing Chinese naval activity in the Indo-Pacific region. Austin, at a joint news conference after meeting with Indonesian Defense Minister...