Friday, November 22

Tag: Trade/External Payments

Tariffs and the Price of Your Beer
5Dec By adminNo Comments
Business

Tariffs and the Price of Your Beer

President Trump ostensibly waged trade wars to aid American industry, but the evidence is that his tariffs have harmed many U.S. businesses not on his politically favored list. One example is the beverage industry, which has had to swallow the cost of tariffs on aluminum for its cans.New data from Harbor Aluminum, produced for the Beer Institute, shows how these costs have continued to climb. Mr. Trump imposed 10% tariffs on aluminum imports in March 2018, citing dubious national-security concerns. Through September 2023, the U.S. beverage industry paid nearly $2.2 billion in tariff costs, according to the report. Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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U.S. Leans on Turkey to Stop Supporting Hamas and Russia
1Dec By adminNo Comments
World

U.S. Leans on Turkey to Stop Supporting Hamas and Russia

ISTANBUL—The Biden administration’s sanctions chief warned Turkish officials that the country is fueling violence across two continents by serving as a financing haven for Hamas and a trade hub for Russia’s war machine.Despite U.S. sanctions targeting Hamas financiers over the past decade, Turkey has allowed the group’s investment firms, holding companies, real-estate brokerages and a host of other businesses to operate out of Istanbul, U.S. officials say.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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Global Trade Picked Up Again in September, According to WSJ Indicator
17Nov By adminNo Comments
World

Global Trade Picked Up Again in September, According to WSJ Indicator

Global trade flows rose for a second straight month in September, a sign that the long downturn in the movement of goods across international borders may be coming to an end.An indicator of goods trade flows developed by The Wall Street Journal and published Friday points to a 0.6% increase from August, adjusted for the seasonal ups and downs of exports of goods between countries.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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China Pledges to Attract More Foreign Investment, Boost Consumption
16Nov By adminNo Comments
World

China Pledges to Attract More Foreign Investment, Boost Consumption

Updated Nov. 16, 2023 1:03 am ETChina’s state planner said it would step up efforts to attract foreign investment and improve domestic consumption, as Beijing moved to provide more support for the economy.The National Development and Reform Commission said Thursday that it will introduce more policies for foreign capital to enter China. It will also work with government bodies to remove barriers to areas of the economy that are off-limits to foreign investment, it said.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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EU Proposes New Sanctions on Russia After Moscow Dodges Prior Ones
15Nov By adminNo Comments
World

EU Proposes New Sanctions on Russia After Moscow Dodges Prior Ones

Nov. 15, 2023 11:11 am ETThe European Union has proposed a swath of new measures aimed at tightening sanctions against Russia, which has largely succeeded in resisting Western efforts to undermine the Kremlin’s ability to fund its war in Ukraine.  The EU’s executive body sent a 12th package of Russia sanctions to member states late Tuesday, officials said. Diplomats say it could take several weeks for all 27 member states to adopt the measures, which include restrictions against foreign companies doing business with Russia and a ban on Russian diamond and other imports.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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President Biden’s Trade Gift to China
15Nov By adminNo Comments
Health

President Biden’s Trade Gift to China

Hard to believe, but President Biden has shown stronger leadership in the Asia-Pacific on defense than on economics. His Administration had hoped to announce a skinny trade deal with allies in the region at the Asia-Pacific Economic Cooperation summit this week, but it collapsed amid opposition from progressives and unions. The Indo-Pacific Economic Framework (IPEF) trade deal was intended as a substitute for the Trans-Pacific Partnership (TPP) that Donald Trump abandoned in one of his worst decisions. IPEF doesn’t lower tariff barriers or expand market access. But its most useful contribution would be protecting digital trade on terms similar to those negotiated with Mexico and Canada in the USMCA deal. Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5ed...
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U.S. Shift on Global Tech Rules Jeopardizes Effort to Counter China
13Nov By adminNo Comments
World

U.S. Shift on Global Tech Rules Jeopardizes Effort to Counter China

WASHINGTON—The Biden administration’s abrupt shift on global technology rules has weakened a critical Asia trade agreement that was intended to help counter China’s growing clout in the region.Rules facilitating digital trade, including the cross-border transfer of data on customers and supply chains, were expected to be a centerpiece of what is called the Indo-Pacific Economic Framework, or IPEF, a U.S.-led group of 14 nations. But the U.S. recently withdrew its support for those provisions, a decision that cut against the desires of some Asian allies who see common rules governing business data as a cornerstone building block for economic cooperation.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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