Tag: International Trade and World Market

Stocks Dip After China Announces Retaliatory Tariffs on U.S. Goods

Wall Street stocks dipped and major European indexes fell on Friday after Beijing said it would answer President Trump’s next round of tariffs on Chinese goods by increasing tariffs on American imports, the latest sign that the trade war between the two countries could drag on. Dow Jones industrial average and S&P 500 futures had […]

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China to Raise Tariffs on $75 Billion in U.S. Goods

SHANGHAI — The Chinese government announced on Friday that it would retaliate against President Trump’s next two batches of tariff increases on Chinese goods by imposing its own tariff increases on American imports, in the latest sign that neither side is prepared to back down in their trade war. The State Council Tariff Commission in […]

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With Amazon Ablaze, Brazil Faces Global Backlash: ‘Lungs of the Earth Are in Flames’

RIO DE JANEIRO — As dozens of fires scorched large swaths of the Amazon, the Brazilian government on Thursday struggled to contain growing global outrage over its environmental policies, which have paved the way for runaway deforestation of the world’s largest rain forest. The fires, many intentionally set, are spreading as Germany and Norway appear […]

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To Gain Leverage in China Trade Talks, Trump Shows Solidarity With Hong Kong

WASHINGTON — President Trump has shifted his stance on the unrest in Hong Kong in recent days to show greater solidarity with the pro-democracy protesters after coming to view the issue as a point of leverage in trade negotiations with China. For months, Trump administration officials described the Hong Kong uprising as an internal matter […]

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The Big Business of Scavenging in Postindustrial America

Adrian Paisley spends his days hunting for scrap metal: aluminum, brass and (holy of holies) copper. At 42, Paisley, who weighs just 135 pounds, is wiry and muscular. I once saw him move an old refrigerator by himself, hurling it onto his pickup truck as if it were made of Styrofoam. He lives for this […]

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Fed Was Divided About Interest Rate Cut

WASHINGTON — Federal Reserve officials were sharply divided when they voted to cut interest rates for the first time in a decade in late July, newly-released minutes from their meeting last month show. Officials lowered borrowing costs by a quarter of a percentage point at their last meeting, citing slowing global growth, uncertainties from President […]

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U.S. Sanctions Chinese Nationals Over Fentanyl Trafficking

WASHINGTON — The Trump administration on Wednesday imposed sanctions on three Chinese nationals accused of trafficking synthetic opioids, stepping up efforts to curb the flow of fentanyl from China into the United States. The move comes just weeks after President Trump accused China of not doing enough to stop the drug from entering the United […]

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Argentina’s Likely Next President Is Not a Populist. Don’t Make Him One.

BUENOS AIRES — From a distance, our political story this year seems simple: Good pro-market guy loses, bad guy wins and populism comes back. It is not. Until the final vote in October, Argentina in effect has a virtual president-elect, the opposition candidate Alberto Fernández, and a lame-duck president seeking what has become an unlikely […]

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European Companies Get Rich in China’s ‘Open Air Prison’

BERLIN — Many people around the world may just now be learning that around a million Uighur Muslims and other minorities have been locked up in extrajudicial internment camps in the region of Xinjiang, in western China. There is a reason for that: Xinjiang is remote and the Chinese government has expended considerable effort to […]

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Want to Prevent a Recession, Mr. Trump? Stop Hurting the Economy

Here’s some free advice for President Trump and his economic advisers, who are frantically searching for measures to ward off a recession: Look in the mirror. The White House has reason to worry about the economic outlook. There are clear signs of weakness in recent economic data, and forecasters see an increasing chance that the […]

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The Trump Administration Is Worrying About the Economy. A Look at the Data Shows Why.

President Trump and his advisers are considering options to stimulate the American economy as indicators that the administration previously used to boast of an economic “boom” have fizzled on the back of Mr. Trump’s escalating trade fights. Companies that Mr. Trump has pointed to as signs of economic strength are now warning of weakness. United […]

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Industrial Policy Isn’t Boring. It’s Big, and It Has United the Left and Right.

Just a few years ago, the phrase “industrial policy” was employed mainly as a term of abuse. Economists almost universally insisted that state interventions to improve competitiveness, prioritize investment in strategic sectors and structure market incentives around political goals were backward policies doomed to failure — whether applied in America, Asia or anywhere in between. […]

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The World Has a Germany Problem

You might think that recent events — market turmoil, weakening growth, declining manufacturing production — must be producing some soul-searching in the White House, particularly over Donald Trump’s view that “trade wars are good, and easy to win.” That is, you might think that if you haven’t paid any attention to Trump’s past behavior. What […]

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U.S. Companies Working With Huawei Get More Time to Stop

WASHINGTON — The United States will allow American companies to continue doing business with Huawei, the Chinese telecommunications giant, for an additional 90 days, Commerce Secretary Wilbur Ross said Monday. The government’s reprieve is intended to give rural telecommunications companies in the United States more time to wean themselves off Huawei, which supplies many of […]

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In Economic Warning Signals, Trump Sees Signs of a Conspiracy

President Trump, confronting perhaps the most ominous economic signs of his time in office, has unleashed what is by now a familiar response: lashing out at what he believes is a conspiracy of forces arrayed against him. He has insisted that his own handpicked Federal Reserve chair, Jerome H. Powell, is intentionally acting against him. […]

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What’s Wrong With the Global Economy?

Global markets were seized by fear last week that trade wars were slowing growth in Germany, China and the United States. But the story here is bigger than President Trump and his tariffs. The postwar miracle is over. Since the financial crisis of 2008, the world economy has been struggling against four headwinds: deglobalization of […]

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How the Recession of 2020 Could Happen

These three things are all true: The United States almost certainly isn’t in a recession right now. It may well avoid one for the foreseeable future. But the chances that the nation will fall into recession have increased sharply in the last two weeks. That is the unmistakable message that global investors in the bond […]

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The World Has a Diamond Glut. Why Is That a Problem?

LONDON — Is it ever possible to have too many diamonds? For many in the business of producing and trading these gems in recent years, the answer is yes. The top diamond miners in the world, including the two largest, Alrosa and De Beers, have an inventory problem. So do many of the cutters and […]

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London Exchange Is Delayed by Technical Problem

LONDON — The opening of markets in London was delayed on Friday as the London Stock Exchange struggled with a technical issue, a representative of the exchange said. Trading, which should have started at 8 a.m., was pushed until 9:40 a.m. as the exchange tried to determine the cause of the problem. The company said […]

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Economic Trouble Signs Hang Over Trump’s Trade War

WASHINGTON — Against the backdrop of mounting evidence that the global economy is weakening, President Trump is caught between his desire to pursue the trade war with China he promised to win and his need to keep the economy humming as the 2020 election approaches. That conflict explains some of the messaging from Mr. Trump […]

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