U.S. trade deficit sees first annual decline in six years
The Commerce Department said Wednesday that the gap between what the United States sells and what it buys abroad fell 1.7% last year, to $616.8 billion.
The Commerce Department said Wednesday that the gap between what the United States sells and what it buys abroad fell 1.7% last year, to $616.8 billion.
If much of industrial China remains on lockdown for the next few weeks, Western retailers, auto companies and manufacturers that depend on Chinese imports will start to run out of the goods they depend on.
The dangerous virus spreading through China threatens a wide range of industries with ties to the world’s second largest economy.
President Donald Trump on Wednesday signed into law a major rewrite of the rules of trade with Canada and Mexico that he said replaces the “nightmare” of a Clinton-era agreement and will keep jobs, wealth and growth in America.
President Donald Trump signed a trade agreement Wednesday with China that is expected to boost exports from U.S. farmers and manufacturers, protect American trade secrets and lower tensions in a long-running dispute between the world’s two biggest economies.
President Donald Trump and China’s chief negotiator, Liu He, are scheduled to sign a modest trade agreement on Wednesday in which the administration will ease some sanctions on China and Beijing will step up its purchases of U.S. farm products and other goods.
The Wall Street Journal reported Saturday that the resumption of the talks was set to be announced on Wednesday when the Trump administration signs a Phase One trade agreement with China in Washington, D.C.
The latest step is intended to “promote the coordinated development of trade and environment,” the official Xinhua News Agency in China said.
The state plans to welcome hundreds of business and economic development leaders to Indianapolis in the spring for its first-ever Indiana Global Economic Summit.
Companies, workers and lawmakers in three countries have spent the past year in limbo awaiting final touches on the U.S.-Mexico-Canada free-trade agreement. Now they have a better sense of who won—and who lost.
The Trump administration and China are close to finalizing an agreement that would suspend tariffs that are set to kick in Sunday, de-escalating their 17-month trade war.
House Speaker Nancy Pelosi on Tuesday announced agreement on a modified North American trade pact, handing President Donald Trump a major Capitol Hill victory on the very same day that Democrats announced their impeachment charges against him.
When the trade deal was reached in September, Trump said it would mean opening Japan’s market to about $7 billion in U.S. farm goods, with tariffs lowered or scrapped on American beef, pork, wheat, cheese, corn and wine.
President Trump said he has “no deadline” for a deal and didn’t mind waiting until after the election next year to make one. Investors had been hoping for a deal this year, or at least enough progress to stave off new U.S. tariffs on Chinese goods scheduled to start Dec. 15.
Top Chinese and U.S. trade negotiators agreed to continue to work toward a preliminary agreement for resolving their tariff war, the Chinese Commerce Ministry said Tuesday.
House Speaker Nancy Pelosi said Monday that Democratic lawmakers are “within range of a substantially improved” trade agreement with Canada and Mexico, but that they need to see progress made in negotiations put into writing by U.S. Trade Representative Robert Lighthizer for “final review.”
Echoing the upbeat tone adopted by other Chinese officials in recent days, Chinese President Xi Jinping told a visiting U.S. business delegation that China holds a “positive attitude” toward the trade talks.
Moving ahead on the trade deal could signal that Democrats and Republicans can work on substantive issues even as the House pursues a divisive impeachment case against President Trump.
The prospects for a preliminary breakthrough in the U.S.-China trade war improved Thursday after the two sides agreed to reduce some punitive tariffs on each other’s goods, though the full extent of the rollback wasn’t clear.
The two sides have agreed to reduce some punitive tariffs on each other’s goods as talks on ending their trade war progress, a Chinese spokesman said Thursday, removing a possible stumbling block to a settlement.