Southeast Asia and Europe stressed the importance of pushing back against protectionism and the threat of global trade wars on Friday (3 August), as their ministers work towards the eventual goal of a region-to-region free trade pact.
European equities markets were in the red on Thursday as trade war fears ratcheted higher after the United States said it was looking at more than doubling threatened tariffs on a range of Chinese imports.
The Bank of England looks set to raise interest rates on Thursday (2 August) to their highest level since the financial crisis, defying warnings that it is taking a gamble ahead of Brexit, the terms of which remain unclear.
As US President Donald Trump gears up pressure on China for trade concessions by proposing a higher 25% tariff on $200 billion worth of Chinese imports, the EU hailed a near three-fold jump in soybean imports from the US, attributing the surge to "market forces" and not last week's highly touted trade deal with President Trump.
US President Donald Trump and European Commission boss Jean-Claude Juncker might have cracked the united front of the 28 member states, as France has already questioned the terms of their agreement and asked the Commission for clarifications.
The EU's pledge to import more soybeans from US farmers was the ‘dealmaker’ in the agreement between European Commission President Jean-Claude Juncker and US President Donald Trump to stop the dispute and open trade talks, EU sources told EURACTIV.
The European Commission is drawing up a list of $20 billion of US goods to hit with duties if Washington imposes tariffs on imported cars, trade Commissioner Cecilia Malmstrom said on Wednesday (25 July), on the eve of her boss's meeting with US President Donald Trump.
Washington needs to de-escalate its rhetoric and cease using tariffs under the guise of national security, the president of the powerful Federation of German Industries (BDI) said on Monday (23 July) in Berlin, ahead of Wednesday's meeting between US President Donald Trump and European Commission chief Jean-Claude Juncker.
European Commission President Jean-Claude Juncker will meet with US President Donald Trump at the White House on 25 July in an attempt to repair the strained relations between the transatlantic allies.
The European Union and China agreed to enhance market access and investment and to speed up negotiations over geographical indications during a leaders’ summit in Beijing on Monday (16 July). But EU leaders indicated they wanted to see China's promises translated into action.
The European Commission cut expected EU growth for this year by 0.2% compared to its forecast less than three months ago, as output was weaker than expected during the first semester and external risks, especially the trade war, are on the rise.
The European Commission said on Wednesday (11 July) that “all possible options” are on the table to respond to the confirmation of the US tariffs on Spanish ripe olives, seen by the Europeans as ‘not justified’.
In May 2018, Donald Trump commissioned the US Department of Commerce to investigate whether car imports constitute a threat to US national security. It would seem so according to figures, but that is no more than an excuse to impose tariffs, writes Dr Clemens Fuest.
The EU and China are speeding up preparatory work for their bilateral summit in Beijing in mid-July. The two sides are trying to agree on a joint position despite differences on trade issues including subsidies and market access.
The US Chamber of Commerce on Monday (2 July) denounced President Donald Trump's handling of global trade disputes, issuing a report that argued tariffs imposed by Washington and retaliation by its partners would boomerang badly on the American economy.
The EU has threatened the US with countermeasures worth $294 billion if the Trump administration imposes further tariffs on European cars as a result of the ongoing investigation into whether they pose a possible threat to national security.
The EU leaders agreed “in substance” on Thursday (28 June) on a set of proposals to improve the World Trade Organisation, which should pave the way for finding common ground with US President Donald Trump and de-escalating the ongoing trade dispute. But Italy blocked their formal adoption until the migration issue was fully addressed.
Harley-Davidson announced on Monday (25 June) it would move some production out of the US to avoid EU tariffs and it might not be the last to do so. That has prompted European consumers’ organisations and importers to warn of the negative impact on consumers.
The “horror” summit finally happened. But contrary to what European Commission top official Martin Selmayr expected two years ago, Donald Trump was enough to throw decades of Western Alliance down the drain.
Tension rose among the richest countries in the world on Friday (8 June) as US President Donald Trump threatened to impose more tariffs on European and Canadian products ahead of a G7 meeting in Canada.
The EU is set to impose €2.8billion worth in tariffs on US exports in early July in response to duties Donald Trump's administration has levied on European steel and aluminium, the European Commission confirmed on Wednesday (6 June).