British PM asks businesses to prepare for no post-Brexit free trade agreement with EU

UK PM Boris Johnson said in a statement that the EU is looking to establish a post-Brexit free trade agreement with Britain like the one it has with Australia and not similar to the one it shares with Canada. File photo of British Prime Minister Boris Johnson and EU chief Ursula von der Leyen (Photo … Read more

Australia says it’s ready to talk to China about their trade dispute

SINGAPORE — Australia wants dialogue with China to resolve their trade dispute and clear up any misunderstandings with its largest trading partner, Australian agriculture minister David Littleproud told CNBC Friday. Two Australian cotton industry groups said China has started discouraging its spinning mills from using cotton imported from Down Under. “It has become clear to … Read more

EU to Sanction Russia Over Poisoning and Belarus Leader Over Crackdown

The European Union agreed Monday to impose targeted sanctions against Russian officials and entities allegedly involved in the poisoning of Russian opposition leader Alexei Navalny but officials insisted the move should not undercut Europe’s continued high-level contacts with President Vladimir Putin. Foreign ministers meeting in Luxembourg backed a Franco-German proposal to impose a travel ban … Read more

Atmanirbhar Bharat could add $160 billion by 2024 to trade earnings

Mumbai: India’s incremental earnings from overseas trade, anchored in potential investments from the likes of Apple and Foxconn, could surge by $160 billion by 2024, with New Delhi emerging as a feasible alternative to Beijing for manufacturing and other capital-intensive industries in a global de-risking of supply chains.An internal Citi report on India’s Atmanirbhar plan … Read more

U.S. to Investigate Vietnam for Currency Manipulation

The Trump administration is launching an investigation into the trade practices of Vietnam, faulting the country for currency practices and invoking the same trade law the U.S. used in imposing sweeping tariffs on Chinese imports. The Office of the U.S. Trade Representative Friday evening said it would pursue an investigation into Vietnam’s “acts, policies, and practices that … Read more

China has a plan for dealing with an unstable world: its own consumers

Xi Jinping, China’s president, speaks during the United Nations General Assembly on September 22, 2020. Tiffany Hagler-Geard | Bloomberg | Getty Images BEIJING — As China’s leaders get ready to release their national development plan for the next five years, some government advisors emphasize the priority is building up China’s domestic strength.  Chinese authorities have stepped up … Read more

U.S. goods trade deficit widens in August

A container ship arrives at Yusen Terminals on Terminal Island at the Port of Los Angeles, January 30, 2019. Mike Blake | Reuters The United States’ trade deficit in goods widened in August, with imports rising as businesses rebuild inventories that were depleted when the Covid-19 pandemic upended the flow of goods. The Commerce Department … Read more

China’s Export Machine Looks Inward as Global Risks Rise

YIWU, China—Chinese makers of goods for export are seeking to turn inwards and sell domestically, a pivot considered key to making the world’s second-largest economy more self-sufficient. In recent weeks, Chinese President Xi Jinping has called for the country to embrace what he calls domestic circulation—a policy designed to bolster local supply chains and encourage … Read more