Author: Biznews

Wall Street Closes Higher as China Tariff Fears Ease

Wall Street’s three major indexes staged a comeback to close around 1 percent higher Wednesday as investors turned their focus to earnings and away from a trade conflict between the United States and China that wreaked havoc in earlier trading. After investors fled equities in the morning because of proposed retaliatory tariffs from China, …

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US Unveils Tariffs on $50 Billion Worth of Chinese Imports

The Trump administration on Tuesday escalated its aggressive actions on trade by proposing 25 percent tariffs on $50 billion in Chinese imports to protest Beijing’s alleged theft of American technology.   The Office of the U.S. Trade Representative issued a list targeting 1,300 Chinese products, including industrial robots and telecommunications …

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Asian Markets Move Lower After US Stock Plunge

Stock markets in Asia and Europe saw declines Tuesday, but did not suffer losses as steep as those Monday in U.S. markets where continued fears about a U.S.-China trade war and a verbal attack on an online retailer by President Donald Trump sent stocks lower. China’s Shanghai Composite Index finished …

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US, Canada Differ on Quick NAFTA Resolution

The Trump administration is hopeful it can reach a deal on a new North American Free Trade Agreement before the July 1 presidential election in Mexico and U.S. midterm congressional elections in November. “I’d say I’m hopeful — I think we are making progress. I think that all three parties …

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WTO Chief Sees No Sign of US Departure

There is no sign that the United States is distancing itself from the World Trade Organization, and negotiations are underway to avert a global trade war, WTO Director-General Roberto Azevedo said in a BBC interview broadcast Wednesday. U.S. President Donald Trump has launched a series of tariff-raising moves, upsetting allies …

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Trump Gets First Trade Deal as US, Korea Revise Agreement

U.S. President Donald Trump, who campaigned against economic agreements he considered unfair to America has his first trade deal. The United States and South Korea have agreed to revise their sweeping six-year-old trade pact which was completed during the administration of Trump’s predecessor, Barack Obama. The agreement “will significantly strengthen …

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