Tag Archives: trade

Global stocks mixed on reports of trade deal progress

Global stocks mixed on reports of trade deal progressGlobal stocks finished mixed on Monday following reports the United States and China were close to a major trade agreement that would roll back some of the tariffs imposed in recent months.



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Hong Kong economy stalls amid trade dispute: finance chief

Hong Kong economy stalls amid trade dispute: finance chiefHong Kong’s economy stalled last year as the ongoing China-US trade dispute and retail woes dragged down local business, the city’s financial chief said Sunday. Beijing and Washington have already imposed duties on more than $ 360 billion in two-way trade, roiling global financial markets and weighing heavily on manufacturing output in both countries. “The impact of China-US trade frictions on Hong Kong’s exports has clearly emerged at the end of last year,” said finance secretary Paul Chan.



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Global stocks surge on hopeful signs from US-China trade talks

Global stocks surge on hopeful signs from US-China trade talksNew York (AFP) – European and US stock markets leapt on Friday as positive signs emerged from US-China trade talks aimed at averting an escalation of a tariff war between the world's top two economies.



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'El Chapo' faces prison for life, but Mexico drug trade persists

'El Chapo' faces prison for life, but Mexico drug trade persistsGuzman, 61, was found guilty on all 10 charges in federal court in New York after an 11-week trial that revealed the inner workings of the Sinaloa Cartel, Mexico’s biggest drug gang. While Guzman has been effectively removed from the drug trade, a former associate has taken over the reins of the cartel, one of many gangs that smuggle drugs from Mexico to the United States. Largely because of that, the trial has not changed the “rules of war” against the drug trade, security analyst Alejandro Hope said, aside from perhaps scaring cartels into exercising more caution after testimony revealed how law enforcement infiltrated Guzman’s networks.



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U.S. will act if Turkish trade violates Venezuela sanctions, official says

U.S. will act if Turkish trade violates Venezuela sanctions, official saysThe United States is monitoring trade between its NATO ally Turkey and Venezuela and will take action if it judges any sanctions have been violated, a senior U.S. official said on Thursday. Three months ago Washington introduced new sanctions aimed at disrupting gold sales from Venezuela, which exported more than 20 tonnes of the precious metal to Turkey in 2018.



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U.S. charges China's Huawei with bank fraud, stealing trade secrets

U.S. charges China's Huawei with bank fraud, stealing trade secretsThe United States on Monday charged China’s Huawei Technologies Co Ltd, its chief financial officer and two affiliates with bank and wire fraud to violate sanctions against Iran in a case that has escalated tensions with Beijing. In a 13-count indictment filed in New York, the Justice Department said Huawei misled a global bank and U.S. authorities about its relationship with the subsidiaries, Skycom Tech and Huawei Device USA Inc, in order to conduct business in Iran.



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Donald Trump's team sanctions Venezuela, pushes China trade talks and makes another border wall pitch

Donald Trump's team sanctions Venezuela, pushes China trade talks and makes another border wall pitchThe White House holds its first news conference in 41 days while lawmakers continue to negotiate border security issues.



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'El Chapo' trial: a three-month plunge into the bloody ways of the drug trade

'El Chapo' trial: a three-month plunge into the bloody ways of the drug tradeOver the space of nearly three months, a New York jury has heard 54 witnesses deliver dramatic evidence against accused Mexican drug boss Joaquin “El Chapo” Guzman. Former associates, ex-employees and a onetime mistress, most of them now inmates in American prisons, have drawn a blood-soaked picture of the Sinaloa cartel — of which El Chapo was co-leader for 25 years — confirming that violent TV series like “Narcos” about notorious drug trafficker Pablo Escobar have not strayed far from the truth. According to the witnesses, the Sinaloa cartel flooded the United States with cocaine with the blessing of countless police, military officers and Mexican officials — going all the way up to the president — who turned their heads in exchange for bribes worth millions.



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Unresolved border could threaten other trade deals, Irish PM warns Britain

Unresolved border could threaten other trade deals, Irish PM warns BritainBritain might struggle in a no-deal scenario to negotiate free trade agreements elsewhere if the Irish border question remains unresolved, a reporter from national broadcaster RTE quoted Irish Prime Minister Leo Varadkar as saying on Thursday. “In a no-deal scenario, the UK won’t have any trade deals with anyone, and I think it will be very difficult for them to conclude any trade deals with the question of the Irish border unresolved,” RTE’s Tony Connelly quoted Varadkar on Twitter as telling reporters in Davos.



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US, China 'miles and miles' from resolving trade conflict: US official

US, China 'miles and miles' from resolving trade conflict: US officialWashington and Beijing are “miles and miles” from resolving their trade war, US Commerce Secretary Wilbur Ross said Thursday. A high-level Chinese delegation is due in Washington next week for talks to resolve the dispute by March 1, when US duty rates on Chinese imports are due to rise sharply, but Ross tried to tamp down expectations to those meetings. “There’s been a lot of anticipatory work done but we’re miles and miles from getting a resolution and that shouldn’t be too surprising,” Ross told CNBC.



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