Farmers are becoming financially dependent on government subsidies.Jan 6, 2020 - Economy & Business
Recent data shows that China is really suffering.Dec 9, 2019 - Economy & Business
Under Trump, the U.S. trade deficit has increased by $125 billion.Sep 3, 2019 - Economy & Business
The most affected industries are in Trump countiesUpdated Sep 8, 2018 - Economy & Business
Vice President Mike Pence told CNBC Friday that "we'll see" if the U.K.'s decision to allow Chinese telecom firm Huawei to build part of its 5G network will impact forthcoming trade talks between the U.S. and U.K.
Why it matters: Striking a trade deal with the U.S. is one of Prime Minister Boris Johnson's top priorities post-Brexit.
Why it matters: This is another sign of tensions easing in the prolonged trade war between the U.S. and China that's brought major uncertainty to the markets and hurt the U.S. manufacturing industry and farmers.
French President Emmanuel Macron on Tuesday tweeted that he and President Trump held a “great discussion” on a tax on digital services considered by Paris and pledged to work on "a good agreement" with Washington "to avoid tariff escalation."
Why it matters: Macron and Trump agreed to avoid increasing tariffs and continue negotiations on the digital tax during until the end of the year, CNBC reports.
President Trump's former chief economic adviser Gary Cohn said on CBS's "Face the Nation" Sunday that he thinks the president's tariffs on China "totally" hurt the United States, and that he doesn't believe they have helped achieve a different "outcome" with China.
The newly inked "phase one" U.S.-China trade deal calls for China to boost purchases of U.S. energy products — including crude oil and liquified natural gas (LNG) — by $52.4 billion over the next two years.
Why it matters: China is the world's largest oil importer and second-largest LNG consumer.
There was limited fanfare from the stock market after President Trump and Chinese Vice Premier Liu He signed the "phase one" trade deal yesterday.
What happened: The 94-page document will roll back some U.S. tariffs on Chinese goods and see China increase purchases of U.S. goods and services by $200 billion over two years, but it leaves more questions than answers, experts say.
President Trump and Chinese Vice Premier Liu He signed Wednesday the "phase one" trade deal between the U.S. and China.
The big picture: The 18-month trade war between the two countries has largely lacked significant breakthroughs, causing major market uncertainty and hammering the U.S. manufacturing industry. This reprieve — which will take effect in 30 days — could help that sector to rebound this year.
President Trump has shrunk America's global presence in many ways, but he has also at times placed high-risk bets on its superpower status.
Driving the news: Trump didn't want war with Iran, yet he ordered the killing of Iran's top commander. That requires enormous faith in the shield of American military superiority.
The wine industry descended on Capitol Hill this week in a last-ditch attempt to avert 100% tariffs on all EU wines — as well as cheeses, cosmetics and other consumer products.
Why it matters: The U.S. has declared its intention to impose these tariffs as retaliation against the way that European nations illegally subsidized Airbus. But if they go into effect, the brunt of the pain will be borne not by European companies, but by Americans.
The World Bank cut its global growth forecast for the fourth straight time on Wednesday, reducing expectations by 0.2 percentage points each year for 2019, 2020 and 2021.
"Global economic growth is forecast to edge up to 2.5% in 2020 as investment and trade gradually recover from last year’s significant weakness but downward risks persist. ... U.S. growth is forecast to slow to 1.8% this year, reflecting the negative impact of earlier tariff increases and elevated uncertainty."— World Bank statement on its Global Economic Prospects report