Canada was back in a revamped North American free trade deal with the United States and Mexico late Sunday after weeks of bitter, high-pressure negotiations that brushed up against a midnight deadline.
Japanese Prime Minister Shinzo Abe resisted for almost two years the push to start bilateral trade talks with the United States, but President Donald Trump’s threatened auto tariffs forced him to reconsider.
The United States is moving forward on its bilateral trade deal with Mexico even if Canada is left out because negotiators can’t resolve their sharp differences, U.S. Trade Representative Robert Lighthizer said.
With no settlement in sight, forecasters say the conflict between the two biggest economies could trim global growth through 2020.
The Trump administration is providing up to $12 billion in emergency relief funds for American farmers, with roughly $6 billion in an initial round.
The United States and China haven’t held high-level trade talks since June, raising doubts about whether a resolution can be reached anytime soon.
Government officials are pledging to work closely, particularly on matters of trade, agriculture research and investment.
The license delay applies to industries Beijing has promised to open to foreign competitors, according to the U.S.-China Business Council. The group represents some 200 American companies that do business with China.
The threat came after President Donald Trump said Friday he was considering extending penalties to an additional $267 billion of Chinese products.
The administration could decide to begin taxing the imports—equal to nearly 40 percent of all the goods China sold the United States last year—after a public comment period ends Thursday.
The U.S. and Canada are sparring over issues including U.S. access to Canada's protected dairy market and American plans to protect some drug companies from generic competition.
Purse maker Vera Bradley has been moving production out of China, but says about 21 percent of the company’s products can’t viably be sourced elsewhere.
The U.S. Chamber of Commerce, Business Roundtable and National Retail Federation were among the groups calling for the U.S. to also reach a deal with Canada, not just Mexico.
President Donald Trump on Monday said he would terminate the North American Free Trade Agreement and sign a new trade accord with Mexico, potentially leaving Canada out of the bloc.
Along with Canada, the United States and Mexico have been negotiating for a year to overhaul the 24-year-old accord at the insistence of Donald Trump.
U.S. and Chinese negotiators ended two days of meetings Thursday without breaking a deadlock over trade that has unnerved financial markets and disrupted global commerce.
The clash between the NATO allies reverberated across global markets Friday as an economic crisis in Turkey threatened to spread. The S&P 500 Index erased its gain for the week.
Senate candidate Mike Braun has downplayed his company’s use of foreign-made goods, but his parts brand, Promaxx Automotive, includes products that were manufactured abroad, according to a review by The Associated Press.
Customs officials will begin collecting the border tax Aug. 23, the Office of the U.S. Trade Representative said. The list is heavy on industrial products such as steam turbines and iron girders.
The Federal Reserve will meet this week to assess an economy that has just enjoyed a healthy spurt of growth but faces a flurry of trade fights pushed by President Donald Trump that could imperil that growth over time.
