India is free to join the Regional Comprehensive Economic Partnership (RCEP), China’s Vice Commerce Minister Wang Shouwen said on Friday in New Delhi, adding that it would boost trade between India and China which is growing “very fast”. The RCEP is the world’s largest trade bloc backed by China and groups 15 Asia-Pacific economies, […]
U.S. import prices rebounded more than expected in July amid higher costs for petroleum products and food, but underlying imported inflation pressures remained muted. Import prices increased 0.4% last month, the Labor Department said on Tuesday. Data for June was revised to show prices falling 0.1% instead of the previously reported 0.2%. Economists polled […]
Bolivia’s government is determined to curb dependence on the U.S. dollar for foreign trade, instead turning to the Chinese yuan, officials said, as Latin American support for alternative currencies grows. Economy Minister Marcelo Montenegro said the Andean country was following “a pattern at the level of international trade, that is generating a progressive […]
Argentina’s financial crisis, which has been marked by exchange rate volatility and soaring inflation, should start abating in November and December, with large foreign currency inflows from the wheat harvest, cabinet chief Agustin Rossi told Reuters on Friday. Argentina’s prolonged financial crisis has been aggravated by a ferocious drought that reduced crucial agricultural exports […]
The European Union agreed on Thursday to remove restrictions on Japanese food imports, imposed after the 2011 Fukushima nuclear accident, with the hope that Japan will ease its controls on EU farm produce. The EU has required pre-export testing of food products for radioactivity since an earthquake and tsunami wrecked the Fukushima Dai-ichi nuclear […]
Brazilian President Luiz Inacio Lula da Silva said on Tuesday that the Mercosur bloc of Brazil, Argentina, Paraguay and Uruguay wants its trade agreement with the European Union to be a “win-win” situation. Lula has criticized some of the European Union’s requests for the deal, including an addendum attaching sustainability and climate change commitments […]
To President Donald Trump, America’s trade relationship with Mexico was intolerable. He seethed over the U.S. trade deficit and the shuttered factories in America’s heartland. “No longer,’’ he vowed six years ago, “are we going to allow other countries to break the rules, to steal our jobs and drain our wealth.” So Trump pressured […]
The Panama Canal will postpone depth restrictions that were set to affect the largest ships crossing the key waterway, the canal authority said, after much-needed rain provided relief to the strained maritime passage. A series of measures were scheduled to go into effect on June 25 and July 9 requiring ships to float at […]
Britain and the United States backed a new “Atlantic Declaration” on Thursday for greater cooperation on pressing economic challenges in areas like clean energy, critical minerals and artificial intelligence. The joint declaration described the partnership as the “first of its kind” in covering the broad spectrum of the two countries’ economic, technological, commercial and […]
New Zealand companies will start to benefit from the country’s new free trade agreement (FTA) with the United Kingdom with the pact now in force, the government said on Wednesday. “The benefits which begin flowing from the FTA today, provide a further big boost to our economy,” said New Zealand Prime Minister Chris […]