• Turkey doubles tariffs on US imports

      Turkey doubles tariffs on US imports

      Turkey on Wednesday intensified its diplomatic and trade dispute with the United States by slapping additional tax on imports of a broad range of American goods, just a day after it announced that would boycott US electronic products, including Apple Inc.’s iPhones.

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    • Erdogan warns Turkey will boycott US electronics

      Erdogan warns Turkey will boycott US electronics

      Turkish President Recep Erdogan said on Tuesday Turkey will boycott US electronic goods, including Apple's iPhone device. “We will impose a boycott on US electronic products. If they have iPhones, there is Samsung on the other side, and we have our own Vestel here,” he told members of his AK Party in a speech, referring to the Turkish electronics company, whose shares rose 5%.

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    • Russia to cut holdings of US securities amid sanctions

      Russia to cut holdings of US securities amid sanctions

      Russia will continue decreasing its holdings of US securities in response to new sanctions against Moscow but promise not to shut down US companies in Russia, Finance Minister Anton Siluanov said on Rossiya 1 TV on Sunday. Speaking on a weekly TV talk show, Siluanov said the new US sanctions, some of which could restrict purchases of Russian government bonds, were “unpleasant but not fatal”.

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    • EU-US working group to spur joint agenda

      EU-US working group to spur joint agenda

      The EU-US Executive Working Group which became operational a week ago with the aim to carry the joint agenda following the deal between US President Donald Trump and EC President Jean-Claude Juncker of 25 July, will meet on 20 August. For this meeting the trade adviser of President Juncker and a senior EU trade official will visit Washington and will have talks with their US counterparts to continue work on implementing the Joint Statement.

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    • Eurozone business growth slowed in July

      Eurozone business growth slowed in July

      Eurozone business growth dispelled hopes of stronger momentum in July at the start of the third quarter, amid fears over a trade war with the United States and a weaker global expansion, a survey showed on Friday. IHS Markit’s Euro Zone Composite Final Purchasing Managers’ Index (PMI), seen as a good guide to economic health, fell to 54.2 from June’s 55.2, below an earlier flash reading of 54.4.

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    • Trump considers higher tariffs on Chinese imports

      Trump considers higher tariffs on Chinese imports

      US President Donald Trump is considering 25% tariffs on $200bn worth of Chinese goods - more than double the 10% initially planned, his administration announced on Wednesday. “The increase in the possible rate of the additional duty is intended to provide the administration with additional options to encourage China to change its harmful policies and behaviour and adopt policies that will lead to fairer markets and prosperity for all of our citizens,” US Trade Representative Robert Lighthizer said in a statement.

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    • Major car exporters to meet over US tariff threat

      Major car exporters to meet over US tariff threat

      Car-producing countries are due to meet without the US to discuss possibly coordinating their response to President Donald Trump’s threat of tariffs. Representatives of the European Union, Canada, Mexico, South Korea and Japan will convene in Geneva on 31 July to debate how to respond if the US imposes levies on car imports, as well as prospects for reforming the World Trade Organization (WTO). Two officials said participants will explore the possibility of an international accord to cut tariffs on cars, although two other officials said this was not part of the formal agenda.

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    • China tempts UK with post-Brexit trade deal

      China tempts UK with post-Brexit trade deal

      British Foreign Secretary Jeremy Hunt has discussed the possibility of a free trade agreement between the UK and China, in his first major overseas trip as foreign secretary, after he was appointed to succeed Boris Johnson. He  was in the Chinese capital to meet Foreign Minister Wang Yi and other top officials, on a trip that will also include stops in Paris and Vienna for talks with his European counterparts on Brexit. His visit also follows a trip by May earlier this year where more than $9bn worth of trade deals were signed and new measures were agreed to open up China to UK goods and services.

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