All posts tagged "Trade"

The U.S. and Canada pointed fingers at each other after trade talks collapsed, triggering 50 percent tariffs and mutual accusations.

Prime Minister Mark Carney announced late Friday that he had suspended trade negotiations with the United States and pulled his team home minutes before a midnight deadline. It set in motion steep new tariffs on Canadian exports.

"As a result, this evening I have decided to suspend trade negotiations with the U.S. and have directed Canada's negotiators to return to Ottawa," Carney said in a statement posted on X. He blamed a reversal by the Trump administration in the final hours, saying, "Last-minute changes in the U.S. proposed terms were unfair, uneconomic, and called into question the reliability of any deal."...

A journalist was floored Monday as Democrats signaled they were hatching a plan to overturn one of President Donald Trump's tariffs.

Democrats were expected to vote to force a vote Wednesday to overturn Trump's Canada tariffs — a legislative push to try and restore economic relations and ease tensions with the North American ally.

Laura Weiss, Congress reporter for Punchbowl News, described what to expect in the coming days. The legislation was expected to be introduced by Rep. Gregory W. Meeks (D-NY), who has led previous efforts to push back on Trump's tariffs, including a discharge petition last spring to end Trump's Canada tariffs, citing concerns over a multitude of businesses....

Washington (AFP) - The United States has revoked some export licenses that allowed companies such as US chip firm Qualcomm to supply Chinese tech giant Huawei, the Commerce Department confirmed on Wednesday. The move adds pressure on Huawei, which has long been caught in an intense technological rivalry between Beijing and Washington over US fears it could be used for Chinese espionage operations. It came after Republican lawmakers urged President Joe Biden's administration to block all export licenses to the company following the release of a new computer powered by a chipset by US chip giant......

Washington (AFP) - In a shift from tit-for-tat tariffs and strong-arm tactics to tech restrictions and investment curbs, US policy towards China has become more targeted under President Joe Biden -- though still hardline. Despite differences between Democrats and Republicans, analysts expect Washington's approach to Beijing will only become tougher, whether Biden or former president Donald Trump wins another White House term. "I think the direction of pressure in Washington is absolutely in one direction, which is more hawkishness," said Joshua Meltzer, senior fellow at Brookings Institution. ......

Beijing (AFP) - US and Chinese officials will hold a fresh round of talks on contentious trade issues Tuesday, the third day of a visit to Beijing by US Commerce Secretary Gina Raimondo. Raimondo's trip to China is the latest by a senior US official in recent months as Washington seeks to defuse tensions with the world's second-largest economy.  On Monday she met with commerce minister Wang Wentao, with the two sides agreeing to set up a working group to iron out the laundry list of trade disputes between them. They also agreed to set up what Washington called an "export control enforcement in......

By Andrea Shalal BEIJING (Reuters) -U.S. Treasury Secretary Janet Yellen on Saturday urged closer communication between China and the United States to improve economic decision-making, and challenged China to join global initiatives to help poorer nations address climate change. Despite bilateral tensions, record high U.S.-Chinese trade last year showed there was "ample room" to engage in trade and investment, and it was critical to focus on areas of common interest and address disagreements through dialogue, Yellen told Chinese Premier He Lifeng at the start of a meeting. The meeting went on ......