Wabba said the NLC would also mobilize its members, civil society allies and other social partners to try to resist the policies that they claimed have driven many into poverty.
Top oil exporter Saudi Arabia has restored capacity to 11.3 million barrels per day after an attack on its processing facilities this month, sources told Reuters last week, although Saudi Aramco has yet to confirm it is fully back online.
Oil plunged on Friday after China announced new tariffs on U.S. goods, including crude oil.
Helping to support the market are simmering tensions between the United States and Iran, with Iranian President Hassan Rouhani cautioning Washington against tightening pressure on Tehran.
President Trump on Friday pledged to respond to China’s latest round of tariffs “this afternoon,” further ratcheting up the trade war between Washington and Beijing.
China will impose additional tariffs on U.S. imports worth about 75 billion U.S. dollars in response to the newly announced U.S. tariff hikes on Chinese goods, the Customs Tariff Commission of the State Council announced Friday.
The US has delayed the imposition of a 10 percent tariff on significant portions of Chinese imports until December 15 as top negotiators from the two countries spoke by phone for the first time since US President Donald Trump threatened to impose tariffs on $300 billion worth of Chinese imports.
Global stocks fell sharply on Friday after Donald Trump threatened to impose tariffs on $300bn (£247.6bn) of Chinese goods in a rapid escalation of the trade war between the world’s two biggest economies.
German carmaker’s CEO offers to travel to London to deliver message to PM saying ‘listen to business’
India is by far the largest buyer of U.S. almonds, paying $543 million for more than half of U.S. almond exports in 2018, U.S. Department of Agriculture data shows. It is the second largest buyer of U.S. apples, taking $156 million worth in 2018.
The White House said that it would terminate India’s preferential market access to the United States as of June 5. The notice claimed that India had not given the United States “equitable and reasonable access to its markets.”
The administration said that it would also apply to India tariffs on solar panels and washers that President Trump announced last year, suspending an exemption it had granted to certain developing countries.
If the Trump administration continues its condescending attitude toward China while refusing to take Beijing as an equal negotiating partner and to make long-overdue compromises on China’s legitimate requests, chances remain slim for the two heavyweight economies to reach a trade deal in the coming month or two.
US President Donald Trump, in his recent interviews with American media, expressed his hope to meet and talk with Chinese President Xi Jinping during the G20 meeting in Osaka, Japan, slated to begin June 28.
U.S. subsidiaries of Japanese companies, as well as American and Chinese businesses, have voiced opposition to President Donald Trump’s proposed tariffs of up to 25 percent on an additional $300 billion of Chinese products.
US taxes on car imports could act as a massive jolt to the bloc’s economy, wiping €14.5bn (£12.9bn) off GDP, according to analysis from investment advisers, Redburn. The firm’s economists believe a “nasty turn” in EU-US trade tensions is coming, which when combined with market nerves over Italian debt, could shake the eurozone.
If the US presses ahead with tariffs, Germany, which relies on carmaking for a fifth of its manufacturing activity, could see 0.28pc shaved from its GDP alone, Redburn claims.
On Thursday, Mexican officials announced plans to deploy 6,000 Mexican National Guard troops to Mexico’s southern border. The deployment will consist of 13 units made up of between 450 and 600 troops. Ten units will be sent to the border with Guatemala, where most Central American asylum seekers cross into Mexico, and three will operate in the Isthmus of Tehuantepec region of southern Mexico. The troops are set to arrive by September.
Mexico, in turn, has agreed to take strong measures to….
Mexico is strengthing its migration enforcement at its border with Guatemala by sending up to 6,000 National Guard troops, Minister of the Interior Olga Sanchez announced Friday afternoon after meetings between Mexican and White House delegates in Washington. Meanwhile, the country is cracking down on human rights and migrant advocates.
The arguments against the tariffs — voiced internally by Kushner, Lighthizer and Treasury Secretary Steven Mnuchin — did little to dissuade Trump, and Kushner was asked to call Mexican officials to inform them of the impending threat.
After the Wednesday night meeting in the Oval Office, the tariff order was finalized by the White House counsel and the office of Stephen Miller, a senior White House adviser and immigration hard-liner who oversees domestic policy.
Mr. Trump is now moving ahead with plans to impose 25 percent tariffs on all remaining Chinese imports. Those new tariffs could go into effect in a matter of weeks.
In a statement Friday evening, the United States trade representative said Mr. Trump had “ordered us to begin the process of raising tariffs on essentially all remaining imports from China, which are valued at approximately $300 billion.”
European stocks rose on Friday, recovering from a six-week low as investors hope the United States and China can still resolve their trade dispute, even as a planned increase in US tariffs on Chinese imports comes into effect.
Acknowledging that continued talks on Friday stateside will be „positive,“ Nick Marro, analyst at the Economist Intelligence Unit, said …
China will have to take necessary countermeasures, said the delegation, which is currently in Washington for the 11th round of China-U.S. high-level economic and trade consultations.
Mr. Trump’s decision to proceed with the tariff increase came after a pivotal round of trade talks in Washington on Thursday night failed to produce an agreement to forestall the higher levies. The White House said talks would resume again on Friday but it remains uncertain whether the two sides can bridge the differences that have arisen over the past week.
China’s chief trade negotiator will travel to Washington this week, according to the commerce ministry, tempering fears that talks to resolve a protracted trade war between the US and Beijing had been scuppered.
Liu He, a vice-premier, will hold negotiations in Washington on Thursday and Friday, according to the Chinese ministry, which did not elaborate on the agenda.
May.05 — President Trump is ramping up pressure on China to finalize a trade deal during talks in Washington this week. He’s threatening to more than double tariffs on $200B of Chinese sales to the U.S. and he posed new import taxes.
The government also announced that in the event of a no-deal it would remove all border checks between Ireland and Northern Ireland except a „small number of measures strictly to comply with international obligations, protect the biosecurity of the island of Ireland, or to avoid the highest risks to Northern Ireland business.“
The UK Government has admitted that, at least for a temporary period, a No Deal Brexit can be managed with no new checks on the Northern Ireland border. So much for the horror stories of checkpoints and guard dogs…
The authors* – Gabriel J. Felbermayr (LMU, Ifo Institute), Clemens Fuest (LMU, Ifo Institute), Hans Gersbach (ETH Zurich and chairman of the Board of Academic Advisors to the German BMWi), Albrecht O. Ritschl (LSE), Marcel Thum (TU Dresden, Ifo Institute, and chairman of the Advisory Board to the German BMF) and Martin T. Braml (Ifo Institute) –suggest a minimum three-month extension will be necessary to establish a European Customs Association.
Since the completion of the internal market, goods can circulate freely between Member States. The ‚Common Customs Tariff‘ (CCT) therefore applies to the import of goods across the external borders of the EU.
The tariff is common to all EU members, but the rates of duty differ from one kind of import to another depending on what they are and where they come from. The rates depend on the economic sensitivity of products.
(17.7.2018) Tusk praised the deal as “the largest bilateral trade deal ever.” He said the partnership is being strengthened in various other areas, including defense, climate change and human exchange, and is “sending a clear message” against protectionism.
Guided by the important consensus reached by the two countries‘ heads of state in Argentina, the two sides discussed the topics of trade balance, technology transfer, protection of intellectual property rights (IPR), non-tariff barriers, service sector, agriculture and enforcement mechanism, as well as certain issues of particular concern for the Chinese side.
Trump, speaking at the White House on Thursday during a meeting with Chinese vice premier Liu He, said he was optimistic the world’s two largest economies could reach “the biggest deal ever made”.
No specific plans for a meeting with Xi were announced, but Trump said there could be more than one meeting. US trade representative Robert Lighthizer and Treasury secretary Steven Mnuchin were invited to bring a negotiating team to Beijing in mid-February, with dates still pending.
The progress made at the talks in Buenos Aires is of momentous significance since the Sino-US trade friction escalates this year. It is hoped the agreement reached on Saturday will be implemented by the two sides and Chinese and American working teams will meet the expectations of their leaders, normalizing trade relations between the countries.
The architect of Brexit argued a free trade deal with the bloc would have avoided a hard border as Northern Ireland already operated on a different currency and tax system than its neighbour in the south.
Speaking to LBC, Mr Farage said: „This is the greatest hoax I have seen in modern history.
„If you had a free trade deal, you have no tariff. There’s no need for checks of any kind to be on goods going north and south of the border. The whole thing is nonsense.
China on Thursday said it will file a complaint with the World Trade Organization (WTO) against U.S. tariffs on 16 billion U.S. dollars worth of Chinese goods under the Section 301 investigation, according to the Ministry of Commerce (MOC).
Aluminum will now be 20% and Steel 50%. Our relations with Turkey are not good at this time!
(20.6.2018) Billionaire brothers Charles and David Koch are unveiling a multimillion-dollar ad campaign against President Trump’s tariffs.
The first phase of the ad campaign, which is funded by the Koch network’s Freedom Partners organization, will air on TV and radio starting Monday.
The campaign will call on Congress to support free trade policies and abandon Trump’s protectionist goals.
The Nikkei share average fell 0.9 percent .N225 totwo-week lows of 22,482.89, slipping further from last week’shigh just above 23,000. The broader Topix .TOPX declined 0.7percent to 1,758.35, hitting its lowest levels since June 1.
The White House said Monday evening that if China goes through with its promise to retaliate against the US tariffs announced last week, the United States will impose tariffs on an additional $200 billion worth of Chinese goods.
„Further action must be taken to encourage China to change its unfair practices, open its market to United States goods, and accept a more balanced trade relationship with the United States,“ Trump said in a statement.
(31.5.2018) What is already clear is that the age of global free trading blocs that appeared on the horizon during the Obama years appears to be over as far as the United States is concerned. The much vaunted Transatlantic Trade and Investment Partnership (TTIP) which would have seen the EU and NAFTA create a free trading mega-zone is now all but dead as Washington and Brussels continue to threaten each other with more trading barriers.
Regulated gas prices are expected to end in France after a decision by France’s highest administrative court in July last year said the regulated gas tariffs fixed by CRE, hurt competition and were against EU regulations.
U.S Commerce Secretary Wilbur Ross told reporters on a telephone briefing that a 25 percent tariff on steel imports and a 10 percent tariff on aluminum imports from the EU, Canada and Mexico would go into effect at midnight (0400 GMT on Friday).
(10.3.2018) On „Fox & Friends“ on Saturday morning, Kucinich, who’s running for governor in Ohio, explained that steel has a $7.2 billion impact on The Buckeye State’s economy, with 100,000 jobs directly or indirectly connected to steel production.
„This is an important moment,“ Kucinich said. „Ohio’s lost so many jobs because of these bad trade agreements. Finally, we’re seeing a correction here.”