International Trade

EU-US trade deal seems distant dream after early optimism

Reuters | June 18, 2015 | International Trade

When U.S. trade chief Michael Froman opened talks in 2013 on an EU-U.S. free trade deal he said he was confident it could be reached on "one tank of gas." Two years later, negotiations have all but stalled. Read More »

Boeing says government loans for Airbus A380neo would go against WTO rulings

Reuters | June 18, 2015 | International Trade

Boeing Commercial Airplanes Chief Executive Ray Conner said at the Paris air show on Tuesday that any government loans for a revamped version of Airbus' A380 superjumbo would go against recent World Trade Organization rulings. Read More »

US to press China on currency, eye on AIIB

Reuters | June 18, 2015 | International Trade

U.S. officials will press their Chinese counterparts on currency policy at high-level talks next week, and have not taken off the table the possibility that the United States may one day join a China-led infrastructure bank, a senior U.S. Treasury official said. Read More »

US House win revives Obama’s Pacific trade pact

Reuters | June 18, 2015 | International Trade

U.S. lawmakers narrowly approved legislation key to securing a hallmark Pacific trade deal, partly reversing a defeat less than a week before, in a boost to President Barack Obama's goal of strengthening U.S. economic ties with Asia. Read More »

Retailers applaud passage of Trade Promotion Authority

AJOT | June 18, 2015 | International Trade

The National Retail Federation issued the following statement from Senior Vice President for Government Relations David French on House passage of a stand-alone Trade Promotion Authority bill, which will provide Congress with new oversight responsibilities over pending and future trade agreements: Read More »

DNA sleuthing pinpoints two African elephant poaching hot spots

Reuters | June 18, 2015 | International Trade

DNA testing on tons of ivory seized from traffickers has identified two elephant poaching "hot spots" in Africa in a development scientists hope will spur a crackdown on the illegal trade decimating the population of Earth's largest land animal. Read More »

Japan export slowdown could weigh on second quarter GDP growth

Reuters | June 18, 2015 | International Trade

Japan's export growth slowed for a second straight month in May, with weak external demand now threatening to erode economic growth in the current quarter. Read More »

Tanzania urges China to curb ivory demand to save elephants

Reuters | June 18, 2015 | International Trade

A Tanzanian government minister described elephant poaching as a national disaster, and urged China to curb its appetite for ivory. Read More »

China steel exports said to be sold at a loss as backlash grows

Reuters | June 18, 2015 | International Trade

Some Chinese steelmakers are selling their output abroad at a loss, according to traders and a producer, as a group of global industry bodies urged governments to take action over rising shipments from China. Read More »

China condemns efforts to find fault with new infrastructure bank AIIB

Reuters | June 18, 2015 | International Trade

China's Foreign Ministry condemned efforts to cast doubt on governance issues facing the country's new Asian Infrastructure Investment Bank (AIIB), saying attention should focus instead on finding ways to tackle regional problems. Read More »

India raises duties on some steel products to counter Chinese imports

Reuters | June 18, 2015 | International Trade

India has raised duties on certain steel products by up to 2.5 percentage points, as domestic producers struggle to cope with surging cheap imports from China and Russia, among others. Read More »

Italy seizes four tons of cocaine, smashes mafia trafficking ring

Reuters | June 18, 2015 | International Trade | Ports & Terminals

Italian police have seized more than 4 tons of cocaine worth 1 billion euros ($1.13 billion) on the street and arrested dozens of people suspected of running a huge mafia drug trafficking ring, a police official said. Read More »

China third largest export market for American goods

AJOT | June 18, 2015 | International Trade

The US-China Business Council’s (USCBC) annual report on US exports to China shows that China continues to be an important destination for American goods and a significant contributor to US economic growth, despite a slowdown versus previous years. Read More »

Core consumer prices in U.S. increased less than forecast in May

Bloomberg | June 18, 2015 | International Trade

The cost of living in the U.S. excluding food and fuel rose less than forecast in May, a sign inflation may take time to meet the Federal Reserve’s goal. Read More »

Greek pensions tangle shows there’s no easy way out of impasse

Bloomberg | June 18, 2015 | International Trade

To find out why Greece’s pension system is tying negotiators up in knots, look no further than Maria Kounani, 59, a mother of two, single parent and early retiree. Read More »

Consumer comfort in U.S. climbs after falling record nine weeks

Bloomberg | June 18, 2015 | International Trade

Consumer confidence stabilized after falling a record nine straight weeks as Americans became less downbeat about the economy. Read More »

Merkel says Greece deal still possible only if Tsipras moves

Bloomberg | June 18, 2015 | International Trade

Chancellor Angela Merkel said a deal with Greece is still possible provided the Greek government follows through on the economic-reform pledges made to creditors. Read More »

Modi boosts odds of India rate cut with curbs on crop prices

Bloomberg | June 18, 2015 | International Trade

The door to another interest-rate cut in India has cracked open an inch. Read More »

Merkel Speech on Greece said aimed at avoiding escalation on aid

Bloomberg | June 18, 2015 | International Trade

Angela Merkel plans to steer clear of confrontation with Greece in a speech to German lawmakers that will attempt to tone down the rhetoric over financing Europe’s most indebted country, according to a person familiar with the government’s strategy. Read More »

Greece at crossroads as Merkel tries to get talks on track

Bloomberg | June 18, 2015 | International Trade

With Greece’s fate in balance, European finance ministers converge on Luxembourg with little hope for a deal as German Chancellor Angela Merkel seeks to restore calm to increasingly rancorous exchanges. Read More »