Orders for US durable goods fall for 2nd straight month
WASHINGTON (AP) — Orders for long-lasting U.S. factory goods declined for the second straight month in May, as demand for cars, metal products and aircraft fell.
The Commerce Department said Wednesday durable goods orders — items meant to last at least three years, from washing machines to tractors — dropped 0.6 percent last month. That followed a steeper drop of 1 percent in April. A category that tracks business investment slipped 0.2 percent, after a healthy gain of 2.3 percent in April.
As US market weakens, Harley-Davidson recruits new riders
MILWAUKEE (AP) — Harley-Davidson, the iconic brand that sells its customers an image of freedom and adventure, found itself in an unwanted role this week: poster child for the damage of an international trade war.
China, EU to form group to modernize global trade rules
BEIJING (AP) — China and the European Union agreed Monday to launch a group that will work to update global trade rules to address technology policy, subsidies and other emerging irritants and preserve support for international trade amid U.S. threats of import controls.
Actions such as U.S. President Donald Trump's unilateral tariff hikes in a technology dispute with Beijing show World Trade Organization rules need to keep pace with changes in business, said an EU vice president, Jyrki Katainen.
Tribes push for international trade at Oklahoma conference
NORMAN, Okla. (AP) — Citizen Potawatomi Nation Economic Development Director Jim Collard said the tribe has been close to having an international business take up residency at its Iron Horse Industrial Park.
One of the near misses was due to the 400-acre park not being big enough, he said.
Fast facts on Trump’s clash with allies over trade
BERLIN (AP) — WHAT'S HAPPENING
PRETORIA, South Africa (AP) — The foreign ministers of the BRICS emerging economies have criticized what they call a "new wave of protectionism," a reference to U.S. President Donald Trump's tough trade negotiations with key economic partners.
The envoys from Brazil, Russia, India, China and South Africa referred to "unilateral measures that are incompatible with" international trade rules after a meeting Monday in the South African administrative capital of Pretoria.
Senators suggests reining in Trump on trade
TAYLOR, N.D. (AP) — A pair of U.S. senators urged Congress on Friday to consider legislation that would rein in President Donald Trump on trade in light of tariffs his administration imposed on imported steel and aluminum.
Speaking to farmers in North Dakota, Democratic Sen. Heidi Heitkamp said "maybe we need to rethink" policies that give the president broad authority over international trade. She said Congress has to "assert the role that we have."
LINCOLN, Neb. (AP) — Nebraska Gov. Pete Ricketts will travel to Mexico in August for an international trade mission.
Ricketts said Monday that Mexico is the second largest agricultural export market in North America and he plans to look for opportunities to expand Nebraska's relationship with the country.
Mexico accounts for nearly $1 billion of America's $6.4 billion annual export revenue. Nebraska exports corn, soybeans and beef to Mexico.
How US small businesses can navigate the trade wars
The Trump administration has so far avoided a trade fight with Europe by temporarily exempting it from hefty steel and aluminum tariffs. Yet the move also extends the uncertainty weighing on small businesses that use those materials, a much broader group than you might think.
On his first full day in office, President Donald Trump made good on his campaign promise to remove the United States from an agreement to enter the Trans-Pacific Partnership, or TPP. The TPP is an 11-country pact of Pacific Rim nations, including the economic powerhouses of Japan and Australia, designed to reduce trade barriers between the signatories to stimulate international trade and economic growth — but will that decision stick?
BERLIN (AP) — The German government trimmed its economic growth forecast for this year to 2.3 percent on Wednesday, though it said the outlook remains good and is predicting that growth next year will be almost as strong.
The new forecast is slightly lower than the government's prediction in January of 2.4 percent growth in 2018. For 2019, officials are forecasting that gross domestic product will expand by 2.1 percent.
German business confidence falls amid trade tensions
BERLIN (AP) — A closely watched survey showed a bigger-than-expected drop in German business confidence amid worries about international trade tensions, but Tuesday's report doesn't necessarily signal any serious problems for Europe's biggest economy.
The Ifo institute said its barometer of managers' sentiment in Germany declined to 102.1 points for April from 103.3 last month. Economists had expected a more modest dip to 102.8.
Iowa Republicans have a friend in the White House, most of the time
DES MOINES -- Iowa’s most powerful state and federal government leaders have an ally in the White House thanks to political unity forged in the 2016 elections.
There is a Republican in the White House and a GOP-led Congress to team with Iowa Republicans in both of the state’s U.S. Senate seats and the governor’s office, as well as its own GOP-led state legislature.
That Republican symmetry has helped produce significant conservative reforms on the federal and state levels.
UK hopes former colonies can give trade boost after Brexit
LONDON (AP) — After decades of sidelining the Commonwealth as a relic of their imperial past, many in Britain are now promoting the group of ex-colonies as a ready-made market for what they hope to be the country's buccaneering global business spirit after the exit from the European Union.
Trade fears weigh on outlook in export champ Germany
FRANKFURT, Germany (AP) — Fears about international trade disputes and the conflict in Syria have sent the economic outlook lower among investment professionals in Germany, the largest economy in the 19-country euro currency union.
It's only the latest sign that looming trade conflict between the U.S. and China is weighing on the outlook in Europe, after several other economic indicators dropped recently.
Even as it dominates all the press attention, the back and forth tariff battle with China is not the only important trade issue on the table right now. Since Donald Trump took office, there have been seven rounds of North America Free Trade negotiations and a ministerial level discussion that recently concluded in Washington, D.C. While progress is reportedly being made, just last week, the president threatened once again to terminate the agreement. If that were to happen, it would be most unfortunate, both for the country as a whole and for individual states like Michigan that rely heavily on international trade.
GENEVA (AP) — China has filed a World Trade Organization complaint challenging U.S. President Donald Trump's tariff hike on imported steel and aluminum, the trade body said Tuesday.
The tariff spat is one element of a wide-ranging trade dispute between Trump and Chinese President Xi Jinping's government. Trump also has threatened to increase duties on $50 billion of Chinese goods in a separate conflict over technology policy.
It’s not just international steel and aluminum tariffs that are spurring rising prices for some U.S. businesses.
The newspaper industry is facing huge price hikes in the cost of paper from Canada, the main source of newsprint used by U.S. newspapers.
This trend has spurred publishers across the county to band to together to protest a series of new duties imposed by the U.S. Department of Commerce and the International Trade Commission on Canadian paper producers.
Every day at the News Media Alliance headquarters, a stack of newspapers arrives for myself and the staff. But with the Department of Commerce and the International Trade Commission currently considering tariffs on Canadian newsprint, those days of screen-free reading could be coming to an end.
Trump trade talk ignores U.S. services surplus against China [Opinion]
With respect to trade with China, President Donald Trump focuses too much on steel and “steal” — the idea that China is somehow taking advantage of the U.S. The president’s claims are overblown and ignore an important aspect of international trade: services. In services, the U.S. actually runs a significant surplus against China, and few U.S. cities have benefited more from this surplus than Houston.
Spain, Portugal bust gang smuggling glass eels to Asia
MADRID (AP) — Spanish and Portuguese authorities announced Friday that they have taken down a criminal network that has been making large profits by smuggling glass eels to Asia.
Authorities across the continent have been trying to tackle the smugglers, who take European glass eels to Asian countries, where they are raised into adults and their meat commands high prices for local delicacies.
Washington state apple, cherry industries wary of trade war
SPOKANE, Wash. (AP) — Cherry and apple growers in Washington state are worried their exports to China will be hurt by a growing trade war that escalated Monday when that country raised import duties on a $3 billion list of products.
China buys Washington-grown cherries, apples and pears, which are all included in the trade dispute.
Washington’s apple and cherry industry wary of trade war
SPOKANE, Wash. (AP) — Cherry and apple growers in Washington state are worried their exports to China will be hurt by a trade war that escalated on Monday when that country raised import duties on a $3 billion list of products.
China buys Washington-grown cherries, apples and pears, which are all included in the trade dispute.
Kate Woods, a vice president of the Northwest Horticultural Council in Yakima, Washington, says they hope the issue is resolved before cherry harvest begins in June.
White House says Trump will ‘push back’ on China over trade
The White House said Monday that President Trump will "fight back" against China's harmful trade practices, after Beijing slapped retaliatory tariffs on 128 U.S. products.
"He's tired of us being taken advantage of," White House press secretary Sarah Huckabee Sanders said of the president. "They've taken our intellectual property, and the president's going to fight back. He's going to push back."
BERLIN (AP) — Germany's economy minister says he is confident that Europe and the United States can reach a "sensible compromise" by summer to resolve tensions over trade.
President Donald Trump's administration has granted the European Union an exemption from punitive tariffs on steel and aluminum imports, but only until May 1. Several European leaders have criticized the little time that leaves for talks.
White House claims win in Korea trade deal, faces skepticism
WASHINGTON (AP) — The White House on Wednesday hailed a revamped trade agreement with South Korea as a vindication of President Donald Trump's hard-nosed approach to international trade.
"It's a big deal and a major win for American workers and American businesses," said White House spokeswoman Sarah Huckabee Sanders.
The Latest: White House claims win in Korea trade deal
WASHINGTON (AP) — The Latest on the trade agreement reached between the U.S. and South Korea (all times local):
Editorial: Newspaper tariffs will hurt everyone in the U.S.
For many years, people across the United States, not just Aiken County, have said "I just like having the paper in my hand and reading it."
Newspapers have been around for centuries, the Aiken Standard is in its 151st year. But changes have been costly.
A shift to digital advertising has been viewed as the "surface" reason for the decline in print media, but there are other factors such as the rising cost of ink used in printing the paper.
BEIJING (AP) — China's newly appointed economic czar told U.S. Treasury Secretary Steven Mnuchin on Saturday that Beijing is ready to defend its interests after President Donald Trump announced plans to slap tariffs on nearly $50 billion in Chinese imports.
Vice Premier Liu He told Mnuchin in a phone call that the order Trump signed Thursday violates international trade rules, China's official Xinhua News Agency reported.
The gap between U.S. imports and exports continued to widen in January with the international trade deficit reaching $56.6 billion, according to the Census Bureau.
That represents a 5 percent or $2.7 billion increase from the December deficit of $53.9 billion.
The deficit in goods and services has been increasing since August, when it was $44.6 billion.
Trib editorial: Government shouldn’t be picking winners or losers with tariffs
The economic consequences of President Trump's proposed tariffs on imported steel and aluminum hit close to home for the region's farmers, who more than likely would become casualties in any trade war.
Expert: US May Be Biggest Loser In China Tariffs
MEXICO CITY (AP) — A coalition of environmental groups has filed a lawsuit with the U.S. Court of International Trade, seeking a ban on Mexican seafood from the upper Gulf of California.
The groups say shrimp and fish imported from the Gulf endanger the vaquita porpoise, which are critically endangered.
State lawmakers meet in Weslaco for crash course on Valley, border issues
WESLACO — Nearly 20 state representatives gaveled into a joint hearing here Tuesday to learn about the Rio Grande Valley, its international ports of entry and what they, as state legislators, could do to help.
Lawmakers learned about staffing issues at international bridges between Texas and Mexico, inspection problems at those same bridges and the hourly importance of local, state and federal cooperation at the ports.
Assembly’s Vos to lead delegation to trade summit
MADISON, Wis. (AP) — Assembly Speaker Robin Vos is getting ready to lead a bipartisan delegation to a trade summit in Canada.
Vos' office announced Wednesday that he'll take seven Wisconsin legislators to the inaugural Trade Legislative Conference in Quebec City this weekend. The conference will bring together legislators from the United States, Mexico and Canada.
Vos will lead a panel discussion entitled "The Role of Legislators in International Trade" on Saturday.
Trump announces stiff trade tariffs, unswayed by warnings
WASHINGTON (AP) — President Donald Trump ordered steep new tariffs on steel and aluminum imports Thursday, vowing to fight back against what he called an "assault on our country" by foreign competitors. The president said he would exempt Canada and Mexico while negotiating for changes to the North American Free Trade Agreement. He was unswayed by the arguments of some advisers that he was risking an international trade war.
UK trade minister slams talk of Brexit punishment by EU
LONDON (AP) — One of the British government's biggest Brexit cheerleaders has taken aim at those in the European Union he accuses of looking to punish Britain for its decision to leave the bloc as exhibiting gang-like tendencies.
Nucor — the nation’s leading steelmaker — has expressed its support of President Donald Trump’s decision to impose trade tariffs on countries that export their steel products to the United States, often at highly subsidized prices.
Nucor, which operates four divisions in Norfolk and is based in Charlotte, N.C., issued a statement after the president made his announcement about the tariffs. It said:
Trump considering tariff exemptions for Canada, Mexico
The White House opened the door Wednesday to exempting Canada and Mexico from the proposed tariffs on steel and aluminum, the first pullback from a plan that critics say will spark a trade war.
Much of the pressure to carve out Canada from President Trump's big tariffs came from within the U.S. steel industry, which shares ownership in steel mills across the Great White North and reaps hefty profits from cross-border trade.
By Samantha J. Gross
Boston University Statehouse Program
BOSTON -- Massachusetts is taking steps to preserve and expand a growing international export business worth $25.8 billion and supporting about 1 million jobs in the state, making the Greater Boston area the 15th largest source of exports in the U.S., according to the International Trade Administration.
BERLIN (AP) — The chairman of the European Parliament's international trade committee says the EU should target American goods that will "really hurt" the United States if President Donald Trump goes ahead with threats to raise tariffs on foreign-made steel or cars.
Bernd Lange says the European Union doesn't have to match U.S. tariffs cent for cent, but should carefully aim at American exports such as soya bean, sweetcorn and corn.
Germany: US tariffs would hit workers, consumers
BERLIN (AP) — Germany says a hike in U.S. import duties for European-made products would hurt both sides.
U.S. President Donald Trump has backed tariffs on foreign-made aluminum and steel and warned European cars might be taxed more, too.
German government spokesman Steffen Seibert says such measures "would sorely affect international trade flows," European industries and in particular "workers and consumers on both sides of the Atlantic."
China: Trump’s tariffs to have ‘huge impact’ on global trade
BEIJING (AP) — China has warned that U.S. President Donald Trump's vow to impose high tariffs on steel and aluminum would have a "huge impact" on the global trading order and said Beijing would work with other nations to protect its interests.
UK trade chief: Staying in EU customs union would be sellout
LONDON (AP) — Britain must leave the EU customs union to strike new trade deals after Brexit, the country's trade minister said Tuesday, widening a major fissure within British politics over future trade relations with the bloc.
In Brussels, the EU's chief Brexit negotiator warned that the bloc and Britain have significant differences, with only months until a deadline to agree on a divorce deal.
President Donald Trump’s administration is protectionist. In his short time in office, a proposed trans-Pacific trade agreement has been abandoned, and tariffs have been levied on imported solar energy equipment and on some metals mined in other countries, even on washing machines.