The U.S. and Mexican governments reached a new agreement to significantly shift their sugar trade mix, but U.S. sugar producers have failed to endorse the deal, leaving question marks over whether it could still sour broader trade relations. U.S. Commerce Secretary Wilbur Ross said the “agreement in principle” with Mexican …
Qatar’s currency came under pressure on Tuesday as Gulf Arab commercial banks started holding off on business with Qatari banks because of a diplomatic rift in the region. Banking sources said some banks from Saudi Arabia, the United Arab Emirates and Bahrain delayed letters of credit and other deals with …
Cities are pushing back on the possibility of losing millions of dollars in U.S. anti-terrorism grants under President Donald Trump’s spending plan — the third straight White House that has moved to cut the funding. The proposed budget would cut cash for the program from $605 million to nearly $449 …
Global airlines made a full-throated defense of globalization on Monday at their largest annual gathering, vowing not to give up on climate change agreements and calling for a swift resolution of a diplomatic rift threatening air travel in the Middle East. Missing from the general meeting of the International Air …
The U.S. government is investigating complaints that air bag control computers in some Jeep Liberty SUVs can fail, preventing the air bag system from operating properly in a crash. The probe covers about 105,000 of the vehicles from the 2012 model year. The National Highway Traffic Safety Administration says …
On the border of China and Kazakhstan, an international free trade zone has become a showpiece of Chinese President Xi Jinping’s signature Belt and Road initiative to boost global trade and commerce by improving infrastructure and connectivity. Chinese state media are filled with stories about the stunning success of Horgos, …
The productivity of American workers was flat in the first three months of this year, while labor costs rose at the fastest pace since the second quarter of last year. Productivity growth was zero in the January-March quarter after rising at a 1.8 percent annual rate in the fourth quarter, …
Diversification is a growing trend in some sectors of the agriculture industry. Some winemakers in the northwestern state of Oregon are branching out into marijuana as a new business venture. Faith Lapidus reports. …
The Trump administration is considering possible sanctions on Venezuela’s vital energy sector, including state oil company PDVSA, senior White House officials said, in what would be a major escalation of U.S. efforts to pressure the country’s embattled leftist government amid a crackdown on the opposition. The idea of striking at …
The restaurant business can cause serious heartburn. It’s a mixed salad of bureaucracy, money, and paperwork that keeps some chefs from ever selling that first plate of food. But there may be hope as “restaurant incubators” offer chefs an alternative menu for success. Arash Arabasadi reports from Washington. …
The U.S. trade deficit rose in April to the highest level since January. The politically sensitive trade gap with China registered a sharp increase. The Commerce Department said Friday that the U.S. trade gap in goods and services climbed 5.2 percent to $47.6 billion in April from March. Exports …
The price of oil has fallen sharply as investors bet that President Donald Trump’s decision to pull the United States out of the Paris climate agreement will increase the country’s oil and gas production. The cost of a barrel of crude slumped 2.4 percent, or $1.18, to $47.18 in electronic …
The heated debate over India’s cash ban continues, with critics saying it slowed an economy that was growing, while the government says economic momentum was barely affected. Critics say the scrapping of 86 percent of the country’s currency last November cost India its status as the world’s fastest growing economy. …
U.S. Treasury Secretary Steven Mnuchin said on Thursday he was confident that Congress would raise the federal debt limit “before there’s an issue” with U.S. creditworthiness, and he pledged that the Trump administration’s tax reform plans would be paid for. “We’re going to get it increased,” Mnuchin told Fox Business …
President Donald Trump is moving the United States out of the Paris climate agreement, signed by nearly 200 other nations. Trump said Thursday that the Paris agreement hurts U.S. economic growth, costs millions of American jobs and puts U.S. firms at a disadvantage. However, his decision contrasted with the views …
Canada’s defense minister repeated a threat Wednesday to cancel the purchase of 18 fighter jets from Boeing Co. because of the company’s trade complaint against Canadian plane maker Bombardier. Harjit Sajjan said Boeing’s action against Bombardier is “unfounded” and not the behavior of a “trusted partner.” He said buying …
Major investors put U.S. industry on notice Wednesday that climate change matters, even as reports emerged that President Donald Trump plans to withdraw the United States from an international pact to fight global warming. A number of large institutional fund firms including BlackRock, the world’s largest asset manager, supported a …
The head of a New York-based advocacy group has called on President Donald Trump and his older daughter to help secure the release of three men who reported labor violations at a Chinese company that makes shoes bearing the Ivanka Trump brand. “We appeal to President Trump, Ivanka Trump herself, …
Vietnamese Prime Minister Nguyen Xuan Phuc said Tuesday that he would sign deals for U.S. goods and services worth $15 billion to $17 billion during his visit to Washington, mainly for high-technology products and for services. “Vietnam will increase the import of high technologies and services from the United States, …
Mexico’s foreign minister says the country is “inevitably” set to review rules of origin when renegotiating the North American Free Trade Agreement, giving a boost to President Donald Trump’s manufacturing push. Foreign Relations Secretary Luis Videgaray said Tuesday at an event in Miami that NAFTA has allowed Mexican industry to …
A group of Senate Democrats sent a letter to U.S. President Donald Trump on Tuesday, requesting information about a raft of trademark approvals from China this year that they say may violate the U.S. Constitution’s ban on gifts from foreign governments. “China’s rapid approvals after years of court battles have …
The catastrophic IT failure at British Airways that ruined travel plans for 75,000 people has raised questions about some older airlines’ focus on costs to the detriment of investment in new computer systems. As British Airways resumed full service Tuesday, shares in its parent company, International Airlines Group, dropped 3 …
The head of Venezuela’s opposition-led congress on Monday blasted U.S.-based bank Goldman Sachs for a financial transaction that he said would prop up his country’s unpopular socialist government while exacerbating difficulties for ordinary Venezuelans. National Assembly President Julio Borges denounced the bank for “trying to make a quick buck off …
Cross-border fighting between Afghanistan and Pakistan has suspended trade worth millions of dollars and stranded hundreds of trucks loaded with fruits and vegetables at the border, where the produce stands to spoil in the rising heat. Pakistan had temporarily closed the Chaman border crossing, across from Afghanistan’s Spinboldak, after a …
A new ban imposed by India’s government on the sale of cows and buffaloes for slaughter to protect animals considered holy by many Hindus is drawing widespread protests from state governments and animal-related industries. Many state governments criticized the ban as a blow to beef and leather exports that will …
British Airways passengers continue to face delays, cancellations, and overcrowding Sunday at Heathrow Airport as the airline reels from a computer failure. The airline said that all long-haul flights will continue Sunday, but to avoid further overcrowding, passengers will only be allowed to enter the airport terminal 90 minutes before …