One reason that the idea of free trade has fallen out of fashion in recent years is the perception that trade agreements reflect the wishes of big American corporations, at everybody else’s expense. U.S. officials fought for trade agreements that protect intellectual property — and drug companies got the chance to extend the life of […]
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Boeing’s commercial aircraft sales to China have slowed to a trickle as U.S.-Chinese relations have soured. But there are new prospects for the company to regain traction. A meeting this month between President Biden and President Xi Jinping of China did not yield public progress toward resuming plane sales, but it may ease tensions between […]
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WHAT WAS SAID “DeSantis gave millions to Chinese companies. DeSantis even voted to fast-track Obama’s Chinese trade deals.”— A pro-Haley super PAC, SFA Fund Inc., in an ad False. There is no evidence Mr. DeSantis directly gave “millions” to Chinese companies; the ad was referring to technology purchases by state agencies. And the trade-related vote […]
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For more than a quarter century, the fortunes of the United States and China were fused in a uniquely monumental joint venture. Americans treated China like the mother of all outlet stores, purchasing staggering quantities of low-priced factory goods. Major brands exploited China as the ultimate means of cutting costs, manufacturing their products in a […]
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The Biden administration has pulled back on plans to announce the conclusion of substantial portions of a new Asian-Pacific trade pact at an international meeting in San Francisco this week, after several top Democratic lawmakers threatened to oppose the deal, people familiar with the matter said. The White House had been aiming to announce that […]
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Six years ago, an executive from Suniva, a bankrupt solar panel manufacturer, warned a packed hearing room in Washington that competition from companies in China and Southeast Asia was causing a “blood bath” in his industry. More than 30 U.S.-based solar companies had been forced to shut down in the previous five years alone, he […]
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China’s political leaders, under pressure to support the country’s fragile recovery, are slowly steering the economy on a new course. No longer able to rely on real estate and local debt to drive growth, they are instead investing more heavily in manufacturing and increasing borrowing by the central government. For the first time since 2005, […]
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Since 2017, Australia has played David to China’s Goliath: rejecting Chinese pressure to adopt Huawei technology, calling out Chinese political interference, and demanding an inquiry into Covid-19’s origins, even as Beijing blocked Australian imports ranging from coal to wine. Now, with Australia’s prime minister, Anthony Albanese, landing in Beijing on Saturday for a three-day visit […]
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As the United States seeks to deepen its relationships with African nations and counter the influence of rivals like Russia and China, it confronts a tricky question: How does it respond when countries do things that run afoul of Washington’s stated commitment to democracy and human rights? That tension hung over a major trade conference […]
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“All of these things are happening all at the same time,” Mr. Gill said. “We are in one of the most fragile junctures for the world economy.” Mr. Gill’s assessment echoes those of other analysts. Jamie Dimon, the chief executive of JPMorgan Chase, said last month that “this may be the most dangerous time the […]
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For over a century, the Panama Canal has provided a convenient way for ships to move between the Pacific and Atlantic Oceans, helping to speed up international trade. But a drought has left the canal without enough water, which is used to raise and lower ships, forcing officials to slash the number of vessels they […]
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The Biden administration is trying to ease European concerns about America’s new climate and tax law, which some allies view as a protectionist industrial policy that threatens their economies. More than a year after passage of the Inflation Reduction Act, European officials are still frustrated by the legislation, which included more than $300 billion in […]
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On a bright September day on the harbor in Copenhagen, several hundred people gathered to welcome the official arrival of Laura Maersk. Laura was not a visiting European dignitary like many of those in attendance. She was a hulking containership, towering a hundred feet above the crowd, and the most visible evidence to date of […]
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Five months ago, President Biden canceled a trip to Australia because the United States was on the brink of defaulting on its debt, and it seemed like a bad time to leave town. Then he extended an invitation to Anthony Albanese, the prime minister of Australia, for a state visit in Washington — a redo […]
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Stan Burton wandered the Guatemalan factory like a prospector probing for buried treasure. His company, Columbia Sportswear, had long relied on plants in Asia to make its clothing, but that appeared increasingly precarious. A trade war undermined the benefits of using Chinese factories to keep Americans stocked with windbreakers and fleece pullovers. The disruptions of […]
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They are smooth white boxes, roughly the size of large cargo vans, and they are now at the heart of the U.S.-Chinese technology conflict. As the United States tries to slow China’s progress toward technological advances that could help its military, the complex lithography machines that print intricate circuitry on computer chips have become a […]
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China’s economy grew more than expected over the summer, though the real estate market continued to weaken, as the government and the banks it controls poured money into infrastructure and new factories. Data released on Wednesday showed that gross domestic product grew from July through September compared with the prior three months. Industrial production of […]
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The Biden administration on Tuesday announced additional limits on the kinds of advanced semiconductors that American firms can sell to China, shoring up restrictions issued last October to limit China’s progress on supercomputing and artificial intelligence. The rules appear likely to bring to a halt most shipments of advanced semiconductors from the United States to […]
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When Hamas attacked Israel, Republicans knew whom to blame: President Biden. Donald Trump asserted that the attack wouldn’t have happened if he were still in the White House; Mike Pence, while condemning Trump for praising Hezbollah and Hamas, asserted that Biden was somehow endangering U.S. interests by “projecting weakness.” Like much of what the American […]
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On a sweltering June morning, the new international terminal at the airport in Pokhara, Nepal’s second-biggest city, roared to life with the arrival of a Sichuan Airlines flight from China. A water cannon showered the plane, an Airbus A319, the first international flight to land at the airport since it had opened six months earlier. […]
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Suleiman Chubado is not entirely clear what caused the price of fertilizer to more than double over the past year, but he is bitterly aware of the consequences. At his farm in northeastern Nigeria, he can no longer afford enough fertilizer, so his corn is stunted and pale, the scraggly plants bending toward the powdery […]
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The United States imposed sanctions on two shipping companies on Thursday for violating the oil price cap that the Group of 7 nations enacted to starve Russia of energy export revenue, the first such penalties that have been leveled amid growing concerns that the policy has been diminished by evasion and loopholes. The sanctions were […]
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China has cast itself as a neutral geopolitical player in the Middle East. It brokered a deal in March to help Iran and Saudi Arabia restore relations. And in the days since Hamas attacked Israel from Gaza, China has tried to keep its distance, with a government spokesman calling the country “a common friend of […]
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Natural gas prices have jumped this week in Europe on worries about supplies stemming from the conflicts in Israel and Ukraine. Prices for benchmark European gas contracts are up more than 20 percent since the end of last week. The latest source of concern came after Finland on Tuesday said a pipeline linking the country […]
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Exxon Mobil announced on Wednesday that it was acquiring Pioneer Natural Resources for $59.5 billion, doubling down on fossil fuel production even as many global policymakers grow increasingly concerned about climate change and the oil industry’s reluctance to shift to cleaner energy. After decades of investing in projects around the world, the deal would squarely […]
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For the past two years, the United States and the European Union have been working toward a deal that would encourage trade in steel and aluminum made in more environmentally friendly ways to combat climate change. But longstanding differences on the way governments should treat trade and regulation have cropped up, preventing the allies from […]
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The International Monetary Fund said on Tuesday that the pace of the global economic recovery is slowing, a warning that came as a new war in the Middle East threatened to upend a world economy already reeling from several years of overlapping crises. The eruption of fighting between Israel and Hamas over the weekend, which […]
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“Everything needed for the front,” Russia’s finance minister declared, echoing a Soviet slogan from World War II as he talked about the government’s latest spending plans. The government still calls its invasion of Ukraine a “special military operation,” but the new budget figures make clear that the economy is increasingly being restructured around war. Nearly […]
Read MoreA year after the Biden administration took its first major step toward restricting the sale of semiconductors to China, it has begun drafting additional limits aimed at denying Beijing the technology critical to modern-day weapons. But in recent months, its progress has been slowed as American chip companies have pushed back with a blunt warning: […]
Read MoreInflation has been easing around the world. But what happens next could depend partly on the cost of diesel, a wild card that few analysts have been able to predict well. Higher gasoline prices — lit up on giant signs on streets and highways — are typically the most visible, visceral reminder of inflation to […]
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Few Chinese art collectors have made a bigger splash at global auctions in the past decade than Liu Yiqian, a former Shanghai taxi driver who amassed a fortune through big bets on Chinese real estate and pharmaceutical stocks. He was a profligate purchaser of Chinese antiquities and other artworks. In 2014, Mr. Liu paid a […]
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