trade war

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Trump on Call With Canada's Carney: 'Extremely Productive'

'We agree on many things,' US president said after call with new PM, amid tense tariff wars

(Newser) - US President Trump and Canadian Prime Minister Mark Carney hopped on the horn on Friday amid the two nations' escalating trade war, with the former calling the conversation "extremely productive," reports Bloomberg . "We agree on many things, and will be meeting immediately after Canada's upcoming Election...

Canada-US Flight Bookings Have 'Collapsed'

Analytics firms says booking are down around 70%

(Newser) - There might be a lot of empty seats on flights from Canada to the US this summer. Canadians have been canceling trips south of the border amid the trade war and President Trump's repeated remarks about making their country the 51st state, and flight bookings have "collapsed,"...

With Trump's Tariffs Now Live, Canada Hits Back

Its move follows a similar one from the EU

(Newser) - It's a double-whammy Wednesday on the retaliatory-tariffs front: Hours after the EU rolled out new duties on goods ranging from motorcycles to bourbon , Canada followed suit. The country said Wednesday that it plans to impose 25% reciprocal tariffs on roughly $21 billion of imports from the US. The move...

Ford Suspends Tariff After 'Olive Branch' From US

Ontario leader says he has been invited to Washington, DC for trade talks

(Newser) - Ontario Premier Doug Ford, saying "both parties are heated and the temperature needs to come down," has suspended the Canadian province's 25% surcharge on electricity exports to the US. Ford, who vowed to be "relentless" earlier Tuesday after President Trump said he would double US tariffs...

Canadian Province Slaps 25% Tariff on Power to US

'We will not back down,' says Ontario Premier Doug Ford

(Newser) - Ontario Premier Doug Ford slapped a 25% tariff on electricity exports to the US on Monday, estimating that it would add almost $70 US to the monthly bills of many homes and businesses in New York, Michigan, and Minnesota. Ford said the surcharge would bring in up to $400,000...

China Ready for 'Trade War, or Any Other Type of War'

'Bullying does not work on us,' foreign ministry spokesman says after Trump doubles tariffs

(Newser) - Some tough talk from China in response to President Trump's tariffs: "If war is what the US wants, be it a tariff war, a trade war, or any other type of war, we're ready to fight till the end," foreign ministry spokesman Lin Jian said Tuesday...

'We Want to Inflict as Much Pain as We Possibly Can'

Ontario Premier Doug Ford threatens to cut off electricity to the US in response to Trump tariffs

(Newser) - The leader of Canada's most populous province has vowed to "inflict as much pain as we possibly can" to retaliate against President Trump's tariffs . Ontario Premier Doug Ford said Tuesday that if the 25% tariffs on Canadian imports persist, he will slap a 25% surcharge on electricity...

Musk to US: You Owe Me Tariff Money, Plus Interest

Tesla, other major automakers suing the government over trade war with China

(Newser) - Elon Musk isn't just calling for the US to end new tariffs on Chinese products—he wants a refund for the money's he already paid, plus interest. Musk's car company, Tesla, filed a lawsuit against the US this week over the import tariffs, as did automakers Ford,...

US, China Near 'BIG DEAL'
US, China Near 'BIG DEAL'
Dec 12, 2019 2:47 PM CST

US, China Near 'BIG DEAL'

President Trump needs to give final approval

(Newser) - The Trump administration and China are close to finalizing a modest trade agreement that would suspend tariffs that are set to kick in Sunday, de-escalating their 17-month trade war, the AP reports. "We're close to a deal,'' said Myron Brilliant, the US Chamber of Commerce's...

China, US Enter 'Tech Cold War'
China Bans
Foreign
Computers
Dec 9, 2019 12:00 PM CST

China Bans Foreign Computers

By 2022, all foreign tech must be out of government offices and public institutions

(Newser) - Within three years, there won't be a Dell computer or Microsoft software to be found inside China's government offices. Beijing has ordered all foreign computer equipment and software be eliminated from government offices and public institutions by 2022, reports the Guardian , which notes the move will likely be...

Exxon Mobil Profit Falls 49%
Profits Plunge for Exxon Mobil
Nov 2, 2019 10:00 AM CDT

Profits Plunge for Exxon Mobil

But the Texas oil giant still reported over $3B in profits for the third quarter

(Newser) - Exxon Mobil's profits fell dramatically in the third quarter as the company was hurt by lower prices for crude oil and natural gas, the AP reports. The Texas oil giant reported $3.17 billion in profits in the third quarter Friday, down 49% from the same time last year....

Chile Cancels Summit Where US, China Hoped to Sign Deal

White House says it wants to sign first phase of deal anyway

(Newser) - The White House says it wants to sign the first phase of a new China trade deal next month even though the summit where it was to have happened has been cancelled. President Trump was to travel to Santiago, Chile, in November to sign the preliminary agreement with China's...

China and Trump Exchange Goodwill Gestures on Tariffs

President postpones increase for two weeks

(Newser) - At China's request, President Trump said Wednesday that the increase in tariffs on $250 billion in Chinese exports will be moved from Oct. 1 to Oct. 15. Trump said the request was made "due to the fact that the People's Republic of China will be celebrating their...

Trump: China Called, and 'They Want to Make a Deal'

President praises 'very positive development' in trade war

(Newser) - President Trump is beginning the new week with positive words about China and leader Xi Jinping, after last week ended with acrimony and market tumult. Trump told reporters at the G-7 summit that Chinese officials called and "they want to make a deal," reports the Wall Street Journal ...

Trump: I Have 'Second Thoughts About Everything'

But White House says he has no regrets about trade war

(Newser) - While America was sleeping, the Group of Seven summit in France was continuing down its head-spinning trajectory, with matters like an escalating trade war between planet Earth's two biggest economic powers, talks with rogue aspiring nuclear powers, and a no-deal Brexit taking up much of the oxygen. A look...

Trump: I Can Legally Enforce My China Ban

The president threatens to wield the International Emergency Economic Powers Act

(Newser) - President Trump is threatening to use the emergency authority granted by a powerful, but obscure federal law to make good on his tweeted "order" to US businesses to cut ties in China amid a spiraling trade war between the two nations, the AP reports. China's announcement Friday that...

Chamber of Commerce Not Wowed by Trump's Order

Rebuffs president's demand that US companies get out of China

(Newser) - President Trump jolted the markets Friday, and possibly China, when he demanded that US companies immediately start looking for alternatives to their operations in that country. The US Chamber of Commerce, however, isn't sold on the idea, reports Reuters . "While we share the President’s frustration, we believe...

Dow Plunges Anew After Trump Tweets on China
Dow Plunges Anew After
Trump Tweets on China
MARKETS
Aug 23, 2019 3:03 PM CDT

Dow Plunges Anew After Trump Tweets on China

Index falls more than 600 points

(Newser) - Stocks sank on Wall Street Friday after President Trump demanded that US companies with operations in China consider moving them to other countries—just hours after Beijing announced new tariffs on $75 billion in American goods. The Dow fell 623 points, or 2.3%, to 25,628; the S&P...

Trump: US Firms 'Hereby Ordered' to Find China Alternatives

President also ratchets up criticism of Fed chief to a new level as markets wobble

(Newser) - It's another volatile day on Wall Street, with the Dow down about 500 points at midday. Renewed friction between the US and China is to blame, as President Trump unleashed a series of angry tweets on that subject as well as Fed chief Jerome "Jay" Powell. After Beijing...

US Gives Chinese Tech Giant a Reprieve

Huawei gets another 90 days to do business with US companies

(Newser) - The US will give Chinese telecommunications giant Huawei another 90 days to buy supplies from American companies. It's the second extension for Huawei, a company the US sees as a national security risk. Commerce Secretary Wilbur Ross revealed the new reprieve on Fox Business News Monday morning, and the...

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