US President Donald Trump will impose new 50% tariffs on Canadian goods, including wine and automobiles, citing "discriminatory treatment" against US products. Canada's PM Mark Carney called it a "direct violation" of USMCA, ready for discussions.
US President Donald Trump imposed 50% tariffs on Canadian goods like wine, hockey sticks, and cement, citing 'unequal treatment' for US cars, dairy, and alcohol. This escalates trade tensions, with Canada's PM Mark Carney ready to intensify talks, despite existing USMCA agreement.
US President Donald Trump imposed 50% tariffs on most Canadian goods, citing unfair discrimination against American products. The move, under Section 338 of the Trade Act, exempts some items but applies to many previously protected under the expired USMCA, escalating trade tensions and economic uncertainty.
US President Donald Trump imposed 50% tariffs on various Canadian goods, including cars, dairy, and alcohol, citing "unequal treatment." The duties, effective in 30 days, escalate trade tensions, prompting Canadian PM Mark Carney to express readiness for intensified talks.
As trade tensions with China escalate, EU officials are engaging Beijing to de-escalate while simultaneously preparing for a potential trade war to protect its industries from deindustrialisation. Brussels aims to acquire retaliatory tools to counter coercive trade practices.
The EU's current trade disputes with China share similarities with the 1970s-80s trade conflict between Europe and Japan, particularly concerning fears of import competition undermining domestic production in sectors like autos and electronics. However, China's geopolitical status as a "systemic rival" distinguishes it from Japan, which was a political ally.
Reliance Jio plans a US$3.8-4 billion IPO, potentially India's largest, to retire debt. This move could spur other digital firms to raise funds, with market conditions stabilizing and improved global sentiment aiding IPO launches.
EU and China agreed to use shared trade data to monitor import surges, escalating to political talks if a "red" zone is crossed. EU's Sefcovic reported "intensive, focused and constructive" talks but warned of EU action if meaningful progress isn't made by autumn.
Eric Cantor of Moelis & Company states that Asian investors continue to seek exposure to the U.S. despite trade tensions, valuing the rule of law and a U.S. presence in Asia amidst China's opacity. He also discusses U.S.-China trade, economic security, and predicts Republican control of the House in upcoming midterms.
The U.S. Soybean Export Council highlights quality differences between American and Brazilian soybeans to regain market share in China, amid ongoing trade tensions and Brazil's increased dominance in Chinese imports.
Chinese exports of energy-related products to the US saw significant growth in May. Unassembled photovoltaic cells surged 346% year-on-year, while lithium-ion batteries and lead-acid batteries also posted strong gains, reflecting eased trade tensions and US energy system demand.
Taiwan's agriculture ministry warned farmers against China's plan to increase atemoya imports, calling it a 'raise, trap, kill' tactic. This follows previous import bans and taxes on Taiwanese fruit, highlighting ongoing trade tensions and China's non-military pressure tactics.
US President Donald Trump described Indian Prime Minister Narendra Modi as 'a very tough cookie' and one of the world leaders he most admires, in a wide-ranging interview with Axios. He also praised Chinese President Xi Jinping as 'all business'.
China held a forum in Berlin to promote imports from the EU, aiming to ease trade tensions and address its growing trade surplus. The event, attended by officials and executives, sought to showcase China's market potential amid rising regulatory hurdles and geopolitical shifts in Europe.
The European Parliament approved a deal to remove EU import duties and ease access for US goods, averting further tariff conflicts and setting tariffs on EU imports to the US.
Chinese manufacturers exporting to the EU face new regulatory hurdles due to the Carbon Border Adjustment Mechanism (CBAM). The system requires detailed carbon intensity data, causing significant compliance challenges for companies like Neil Miao's, who struggle with understanding and providing the required information.
G7 leaders convene in Evian-les-Bains, France, to tackle the Ukraine war, Iran-US conflict, and global economic challenges. US President Trump, French President Macron, and leaders from non-G7 nations like India and Ukraine will attend.
China has abruptly canceled two important diplomatic meetings in Beijing originally scheduled for this month, amid escalating trade friction with the EU. The cancellations, which include a ministerial-level digital affairs meeting and another involving a senior EU official, come as China's exports to the EU surge and Beijing attempts to block new EU measures restricting its exports.
China has canceled two crucial meetings with the EU, including a ministerial-level discussion on digital issues and a meeting with an EU official, just before their scheduled dates. The cancellations come amid rising trade tensions and ahead of an EU summit where stronger measures against China's trade imbalance are expected to be discussed.
Canadian PM Mark Carney indicated the Gordie Howe International Bridge opening may be delayed, despite a planned ribbon-cutting ceremony. The bridge, connecting Windsor and Detroit, faces potential obstruction from U.S. President Donald Trump over trade demands.
Canadian PM Mark Carney stated the Gordie Howe International Bridge opening may be delayed, despite a ceremony planned for Friday. The bridge, connecting Windsor and Detroit, faces potential obstruction from Donald Trump over trade demands.
EU and China trade tensions rise as EU policymakers consider a tougher stance on trade despite pressure from Beijing
The EU is offering Armenia a €50 million support package to counter Russian economic pressure, ahead of Armenia's June 7 parliamentary elections, where PM Nikol Pashinyan's party seeks re-election amid balancing EU and Russian ties.
Major markets like the S&P 500, Dow, and Nasdaq hit record highs, fueled by AI optimism and a wave of IPOs. Despite bullish sentiment, warnings about greed and the speed of the rally echo past crashes. Bitcoin sees a dip as investors favor private markets.
