Tag: International Trade and World Market

Why Is Trump a Tariff Man?

Almost exactly one year has passed since Donald Trump declared, “I am a Tariff Man.” Uncharacteristically, he was telling the truth. At this point I’ve lost count of how many times markets have rallied in the belief that Trump was winding down his trade war, only to face announcements that a much-anticipated deal wasn’t happening […]

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U.S. Objects to World Bank’s Lending Plans for China

WASHINGTON — The Trump administration has formally objected to the World Bank’s plans to continue lending to China, the latest flash point in a long-running battle between the world’s largest economies. The objection comes at a delicate moment, as Washington and Beijing try to reach a Phase 1 trade agreement within the next 10 days. […]

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The Chinese Roots of Italy’s Far-Right Rage

PRATO, Italy — Like everyone in her family and most of the people in the factories where she labored in this town nurtured by the textile trade, Roberta Travaglini counted herself an unwavering supporter of the political left. During her childhood, her father brought her to boisterous Communist Party rallies full of music, dancing and […]

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Trump Inflames the Trade Wars, Again

LONDON — President Trump disrupted the global economy on Tuesday when he threatened NATO allies and suggested that he could wait a year to reach a trade agreement with China, sending stock markets swooning. In comments to reporters sandwiched between meetings with fellow leaders of the North Atlantic Treaty Organization, Mr. Trump said a trade […]

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Trump Warns Trade Talks With China May Last Past 2020 Election

LONDON — President Trump signaled on Tuesday that he was in no rush to end a long trade war with China, suggesting that he could wait until after the 2020 presidential election to strike a deal. “I have no deadline,” Mr. Trump told reporters during a wide-ranging 52-minute appearance in London with Jens Stoltenberg, the […]

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French Wine Could Face 100% Tariffs as Trump Confronts France Over Tech Taxes

WASHINGTON — The Trump administration said on Monday that a new French tax that hit American technology companies discriminated against the United States, a declaration that could lead to retaliatory tariffs of as high as 100 percent on French wines. It could also jeopardize international efforts to negotiate a truce on so-called digital taxes. The […]

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Trump Says U.S. Will Reinstate Metal Tariffs on Brazil and Argentina

President Trump said on Monday that he would reinstate tariffs on steel and aluminum from Brazil and Argentina, accusing the two countries of artificially weakening their currencies and hurting American farmers. Mr. Trump, in a message on Twitter, said the currency manipulation by Brazil and Argentina was hurting American farmers. “There, effective immediately, I will […]

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Trump’s Trade Deal Steals a Page From Democrats’ Playbook

WASHINGTON — House Democrats return to Washington on Monday facing a difficult choice: Should they hand President Trump a victory in the midst of a heated impeachment battle or walk away from one of the most progressive trade pacts ever negotiated by either party? The Trump administration agreed with Canada and Mexico on revisions to […]

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The World Trade Organization Is Dying. What Should Replace It?

Twenty years ago this weekend, 50,000 people converged on Seattle to protest the World Trade Organization, which was holding a ministerial-level meeting in the city, and a plan championed by the world’s largest corporations to increase the organization’s authority over even more facets of people’s lives. The epic protests, televised worldwide, revealed that Americans were […]

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China Condemns U.S. Over Hong Kong. That Won’t Stop Trade Talks.

SHANGHAI — China vented on Thursday after President Trump signed new human rights legislation covering the protest-wracked city of Hong Kong. It denounced the new law as illegal interference in its own affairs. It summoned the American ambassador for the second time in a week. It vowed retaliation. The threats sounded severe. They also sounded […]

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The World-Shaking News That You’re Missing

SINGAPORE — One of the most negative byproducts of the Trump presidency is that all we talk about now is Donald Trump. Don’t get me wrong: How can we not be fixated on a president who daily undermines the twin pillars of our democracy: truth and trust? But there are some tectonic changes underway behind […]

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Trump’s Tax Truce With France Expires, but the Path Ahead Remains Unclear

WASHINGTON — A brief truce in what had been an escalating battle between the United States and France over taxing digital services has expired, but President Trump gave no indication this week whether he planned to return to his threats to impose new tariffs on imported wine and other French products as a result. French […]

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French Luxury Giant LVMH Nears Deal to Buy Tiffany

LVMH Moët Hennessy Louis Vuitton will be having a lot of breakfasts at Tiffany’s — as well as lunches, dinners and board meetings. The world’s largest luxury goods company is close to completing a deal to buy Tiffany & Company, according to people briefed on the acquisition. The combination, worth $16.7 billion, would be the […]

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Trump Floats Tariff Exclusions for Apple at Texas Manufacturing Plant

WASHINGTON — President Trump said on Wednesday that China had not yet made enough concessions to secure a trade deal with the United States and suggested that he might exempt Apple from an upcoming round of tariffs as he toured a Texas plant that assembles Mac Pro computers. Mr. Trump, who was joined in Austin […]

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U.S. Bill Supporting Hong Kong Rights Heads to Trump’s Desk

A bill compelling the United States to support pro-democracy activists in Hong Kong could arrive on President Trump’s desk as soon as Thursday morning, potentially complicating the administration’s talks with China to end the trade war. The bill, passed by the Senate on Tuesday, would require the government to impose sanctions on Chinese officials responsible […]

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Fed Unlikely to Cut Rates Again Unless Economy Shows Signs of Weakening

WASHINGTON — Federal Reserve officials do not plan to cut interest rates again unless economic data begins to show cracks, a message reinforced by the minutes from their October meeting. After the Fed cut interest rates last month — its third reduction this year — most officials thought that policy “would be well calibrated” to […]

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Mexican Workers’ Gains Would Be Ours, Too

Despite financial gains won recently by the United Auto Workers in a new contract that ended a nearly six-week-long strike against General Motors, the longest in a half-century, the deal will not rectify the major problem that has hurt American autoworkers and will continue to do so. The problem has been the longstanding lack of […]

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Silicon Valley’s Biggest Foe Is Getting Even Tougher

BRUSSELS — Margrethe Vestager spent the past five years developing a well-earned reputation as the world’s top tech industry watchdog. From her perch overseeing Europe’s competition rules, she fined Google more than $9 billion for breaking antitrust laws, and forced Apple to pay about $14.5 billion for dodging taxes. Now she says that work, which […]

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U.S. Offers Huawei Reprieve on Monday, but May Crack Down on Friday

WASHINGTON — This week began with the Trump administration giving Huawei, the Chinese telecom giant, a reprieve. It will most likely end with a different set of regulators voting to make it more difficult for the company to do business in America. The Commerce Department said Monday it would extend for 90 days the license […]

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Trump Meets With Fed Chair Powell for a ‘Cordial’ Talk

WASHINGTON — The chair of the Federal Reserve, Jerome H. Powell, met with President Trump on Monday to discuss the economy, a first since Mr. Trump labeled the central bank head and his colleagues “boneheads” and questioned whether Mr. Powell or President Xi Jinping of China was a bigger “enemy” of America. The meeting, which […]

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Trump’s Made-for-TV Trade War Has Few Entertained

When President Trump’s advisers suggested that Beijing resume buying around $20 billion in American farm products as part of a trade deal, Mr. Trump wasn’t satisfied. In a dramatic public retelling in the Cabinet Room, he said he pressed his team to more than triple that figure, then trimmed that a little and asked for […]

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