Tag: International Trade and World Market

As Senate Weighs Biden’s Commerce Pick, Here’s What to Watch

WASHINGTON — The Commerce Department has taken on new importance in recent years, with wide-ranging authority over issues as broad as technology exports and climate change. On Tuesday, President Biden’s nominee to run the sprawling agency, Gina M. Raimondo, will appear before the Senate Commerce Committee for a confirmation hearing. Ms. Raimondo, the current governor […]

Read More

If Poor Countries Go Unvaccinated, a Study Says, Rich Ones Will Pay

In monopolizing the supply of vaccines against Covid-19, wealthy nations are threatening more than a humanitarian catastrophe: The resulting economic devastation will hit affluent countries nearly as hard as those in the developing world. This is the crucial takeaway from an academic study to be released on Monday. In the most extreme scenario — with […]

Read More

I Grew Up Witnessing Forced Labor. U.S. Companies Must Step Up.

Forced labor has been a central part of China’s campaign against the Uighurs for as long as I can remember. I was born in a re-education camp at the height of China’s infamous Cultural Revolution. My father was sent to a separate forced labor camp. I grew up witnessing Uighur villagers forced by Chinese authorities […]

Read More

10 Challenges Biden Faces in Righting the Economy

All presidents come into office vowing to rapidly put into effect an ambitious agenda. But for Joseph R. Biden Jr., the raging coronavirus pandemic and the economic pain it is causing mean many things must get done quickly if he wants to get the economy going. In a speech Thursday on his $1.9 trillion spending […]

Read More

For One British Industry, Brexit’s Red Tape Is Just Beginning

For nearly a century the firm of Teal & Mackrill in the port city of Hull in northeast England has made paints for special applications, like fishing trawlers and factory floors. It produces marine paint, for example, with ingredients to prevent barnacles from encrusting hulls. Now in a little-noticed consequence of the new Brexit trade […]

Read More

For Britain’s Chemical Industry, Brexit’s Red Tape Is Just Beginning

For nearly a century the firm of Teal & Mackrill in the port city of Hull in northeast England has made paints for special applications, like fishing trawlers and factory floors. It produces marine paint, for example, with ingredients to prevent barnacles from encrusting hulls. Now in a little-noticed consequence of the new Brexit trade […]

Read More

Most Major Economies Are Shrinking. Not China’s.

SHANGHAI — As most nations around the world struggle with new lockdowns and layoffs in the face of the surging pandemic, just one major economy has bounced back after bringing the coronavirus mostly under control: China. The Chinese economy rose 2.3 percent last year, the country’s National Bureau of Statistics announced on Monday in Beijing. […]

Read More

U.S. Bans All Cotton and Tomatoes From Xinjiang Region of China

WASHINGTON — The Trump administration on Wednesday announced a ban on imports of cotton and tomatoes from the Xinjiang area of China, as well as all products made with those materials, citing human rights violations and the widespread use of forced labor in the region. The measure could have sweeping implications for makers of apparel […]

Read More

Cuba, Though Angered by Terror Designation, Is Looking Past Trump

HAVANA — When the Trump administration announced this week that it was designating Cuba a state sponsor of terrorism, the reaction in Havana was swift and vociferous. The Cuban government accused Washington of hypocrisy, and called the label an act of “political opportunism” by President Trump to obstruct relations between Cuba and the incoming administration […]

Read More

China Issues New Rules Aimed at Trump’s Sanctions

China fired back at the Trump administration on Saturday with new rules that would punish global companies for complying with Washington’s tightening restrictions on doing business with Chinese companies. China’s Ministry of Commerce said that the rules, which went into effect immediately, were intended to counter foreign laws that “unjustly prohibit or restrict” people or […]

Read More

A Week Into Brexit, the Pain for U.K. Businesses Has Arrived

“The things which are proving problematic are the things that we expected to be problematic,” Ms. Jones said. “So for goods, it’s all about the speed and accuracy with which people are preparing the right paperwork.” Many U.K. businesses — at least 150,000, according to data from Britain’s tax agency — have never traded beyond […]

Read More

Chinese Solar Companies Tied to Use of Forced Labor

Xiaojing Sun, a senior research analyst at Wood Mackenzie, said solar companies were starting to investigate their exposure to Xinjiang and reconfigure their supply chains to avoid the region if possible. In a note to investors in October, analysts at Roth Capital Partners said the solar sector faced a “heightened risk of disruption” because of […]

Read More

Biden Picks Rhode Island Governor for Commerce Secretary

WASHINGTON — President-elect Joseph R. Biden Jr. is expected to announce Gina M. Raimondo, the governor of Rhode Island, as his commerce secretary, a key economic position given the agency’s critical role in everything from technology policy to climate change to promoting American industry, according to a person familiar with the decision. Ms. Raimondo, a […]

Read More

Will the Sudden E.U.-China Deal Damage Relations With Biden?

BRUSSELS — The European Union embarked on a trade deal with China believing that engagement with Beijing was the best way to alter its behavior and make it a committed stakeholder in the international system. But that was seven years ago. The deal was quietly sealed in the final weeks of last year. By then, […]

Read More

Here Are The 8 Chinese Apps Trump Banned

WASHINGTON — President Trump on Tuesday signed an executive order prohibiting transactions with eight Chinese software applications, including Alipay, the payment platform owned by Ant Group, and WeChat Pay, which is owned by Tencent. The move, two weeks before the end of Mr. Trump’s term, could help lock in his administration’s harsher stance toward China […]

Read More

Gulf States Agree to Ease Relations With Qatar

Representatives of several Gulf states signed an agreement on Tuesday to ease Qatar’s isolation from its Arab neighbors, which have blockaded the country since 2017, a major step toward ending a rift that has left it excluded for years. The agreement, signed at a regional summit meeting in Al Ula, Saudi Arabia, by representatives from […]

Read More

Brexit Customs Checks Make a Quiet Debut at U.K. Ports

LONDON — At the ports and terminals on Britain’s southeast coast, a new era began Friday morning without much fuss. Ferries and trains that carry goods to France from Dover and Folkestone were running on time, and drivers snaked their trucks into the port unencumbered by congestion. To all appearances, little may have changed on […]

Read More

Brexit’s Silver Lining for Europe

PARIS — It is done at last. On Jan. 1, with the Brexit transition period over, Britain will no longer be part of the European Union’s single market and customs union. The departure will be ordered, thanks to a last-minute deal running to more than 1,200 pages, but still painful to both sides. A great […]

Read More

U.S. Companies to Face China Tariffs as Exclusions Expire

WASHINGTON — American companies are facing the prospect of higher taxes on some of the products they import from China, as the tariff exclusions that had shielded many businesses from President Trump’s trade war are set to expire at midnight on Thursday. Mr. Trump began placing tariffs on more than $360 billion of Chinese goods […]

Read More

China and E.U. Leaders Strike Investment Deal, but Political Hurdles Await

Chinese and European Union leaders agreed on Wednesday to make it easier for companies to operate on each other’s territory, a significant geopolitical victory for China at a time when criticism of its human rights record and handling of the pandemic have left it increasingly isolated. But the landmark pact faces political opposition in Europe […]

Read More

U.K. Parliament Set to Approve Post-Brexit Trade Deal

LONDON — Approval of a trade deal between Britain and the European Union was being hurried through the British Parliament in just a day on Wednesday, a rushed conclusion to a Brexit saga that has divided Britons and convulsed their politics for more than four years. Lawmakers, recalled from their vacations for the task, were […]

Read More

Which Developing Economies Will Rise After the Pandemic?

From the steam engine to cars, the economic effect of tech revolutions has tended to gain momentum over time and peak decades after the original invention. The digital revolution is young; its biggest influence on the growth of emerging economies is most likely still to come. Another major development is economic reform. One of the […]

Read More

Brexit Deal Done, Britain Now Scrambles to See if It Can Work

LONDON — For weary Brexit negotiators on both sides of the English Channel, a Christmas Eve trade agreement sealed 11 months of painstaking deliberations over Britain’s departure from the European Union, encompassing details as arcane as what species of fish could be caught by each side’s boats in British waters. But for many others — […]

Read More

Brexit Deal Poses Threat to Boris Johnson and U.K. Conservative Party

LONDON — An “exceptional victory,” the result of “fantastic work” and a deal that “delivered” for the British people. Even before the text of the post-Brexit trade agreement was published, lawmakers loyal to Prime Minister Boris Johnson lavished praise on him for resolving an issue that has convulsed British politics for almost half a decade. […]

Read More

One Vaccine Side Effect: Global Economic Inequality

LONDON — The end of the pandemic is finally in view. So is rescue from the most traumatic global economic catastrophe since the Great Depression. As Covid vaccines enter the bloodstream, recovery has become reality. But the benefits will be far from equally apportioned. Wealthy nations in Europe and North America have secured the bulk […]

Read More

Post-Brexit Trade Deal: 5 Takeaways

Britain and the European Union struck a trade deal on Thursday, setting the terms of their commercial relations after Britain completes its hard-fought split from the European Union on Dec. 31. British lawmakers had haggled for years over the divorce, known as Brexit. Britain formally left the European Union on Jan. 31, closing the book […]

Read More

Trucks Stuck in U.K. After France Border Closure Begin Moving

LONDON — Trucks began boarding ferries in Dover on Thursday to cross the English Channel for the first time in four days, a step toward ending a thousands-deep traffic jam that piled up at the border after France banned crossings from Britain to limit the spread of a coronavirus variant. Sea, rail and air routes […]

Read More

For the E.U., Brexit Deal Is a Pretty Good One

BRUSSELS — The European Union emerges from fraught negotiations with Britain over its exit from the bloc with a sense of satisfaction — that it has maintained its unity and its core principles, especially the integrity of the single market of now 450 million consumers that is the foundation of its influence. And it is […]

Read More

Pound Rises as Britain and E.U. Announce a Post-Brexit Trade Deal

But the relief of actually reaching a deal, and the potential for future cooperation, will reassure many. The head of Confederation of British Industry, which represents 190,000 businesses across the country, called the deal a “huge relief,” but said companies still needed more time to pour over the details and implement changes. “It is urgent […]

Read More

Brexit Is Finally Done, but Britain’s Ambition Already Seems Outdated

LONDON — It took 11 grueling months for negotiators from Britain and the European Union to hammer out the terms of a post-Brexit trade deal. But in many respects, the deal is already four and a half years out of date. The world has changed radically since June 2016, when a narrow majority of people […]

Read More

Brexit Trade Deal Reached Between Britain and the E.U.

LONDON — Britain and the European Union struck a hard-fought trade agreement on Thursday, settling a bitter divorce that stretched over more than four years and setting the terms for a post-Brexit future as close neighbors living apart, according to British officials. The deal, which must be ratified by the British and European Parliaments, came […]

Read More