Trade


    • UN warns of currency  wars with global impact

      UN warns of currency wars with global impact

      Currency wars, widespread protectionism and billion-dollar losses could arise if the US and China fail to settle their trade differences before 1 March, the UN warned in a new study. Published by the UN Conference on Trade and Development (UNCTAD) on 4 February, the report said that while some countries would see a surge in exports, negative global effects were likely to dominate.

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    • EESC backs ambitious WTO reform

      EESC backs ambitious WTO reform

      In its opinion adopted on 24 January, the European Economic and Social Committee (EESC) is calling for an ambitious reform of the World Trade Organisation (WTO) in order to overcome the current crisis. In the last few years, WTO's role has been compromised by increasing protectionism and major changes in the structure of international trade. 

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    • China cuts taxes to offset slowdown

      China cuts taxes to offset slowdown

      China is currently considering to cut taxes, raise the maximum income levels for tax exempt companies, step up spending and provide financing to private and small enterprises, in order to offset country's worst slowdown since the global financial crisis in 2008 and the impact of its tit-for-tat trade war with the US. In the meantime, Beijing is confident it can keep the value of the currency, the yuan or renminbi, steady while maintaining a stable but flexible monetary policy.

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    • US-China trade talks conclude with success

      US-China trade talks conclude with success

      China’s Foreign Ministry announced Wednesday that its trade talks with the US in Beijing had wrapped up, and that results would soon be released. Yet, the length of the negotiations, which extended into an unexpected third day, already fuels optimism that the world’s largest economies can finally strike a trade deal to avoid an all-out confrontation that would severely disrupt the global economy.

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    • White House to bar Huawei, ZTE purchases

      White House to bar Huawei, ZTE purchases

      US pressure on Chinese telecommunications equipment providers was increased once again yesterday after Reuters reported that President Donald Trump is considering an executive order to declare a national emergency, which would bar US companies from using network gear made by two of the world’s biggest telecoms equipment suppliers - Huawei Technologies and ZTE Corp. The planned order follows a passage of a defence policy bill in August that was never issued, but reportedly barred the US government itself from using Huawei and ZTE equipment.

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    • China-US trade talks progress, markets rally

      China-US trade talks progress, markets rally

      Just over a week after President Donald Trump and Chinese President Xi Jinping reached a temporary truce at the G20 summit, the world's two largest economies finally began showing signs of progress in talks to end their trade war after months of stonewalling.

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    • US, China agree trade war ceasefire at G20 summit

      US, China agree trade war ceasefire at G20 summit

      China and the United States agreed to a ceasefire in their bitter trade war on Saturday after high-stakes talks in Argentina between US President Donald Trump and Chinese President Xi Jinping, including no escalated tariffs on 1 January. The announcements came after Trump and Xi sat down with their aides for a working dinner at the end of a two-day gathering of world leaders in Buenos Aires, their dispute having unnerved global financial markets and weighed on the world economy.

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    • Trump, China's Xi poised for high-stakes talks at G20 summit

      Trump, China's Xi poised for high-stakes talks at G20 summit

      US President Donald Trump and Chinese President Xi Jinping will wrap up a global summit on Saturday with high-stakes talks expected to determine whether they can begin defusing a damaging trade war between the world’s two biggest economies. With the United States and China locked in growing disputes over commerce and security that have raised questions about the future of their relationship, Trump and Xi are due to sit down for dinner at the end of a two-day gathering of world leaders in Buenos Aires. With the trade war weighing on the global economy, world financial markets are hanging on every development and will be watching closely to see if any compromise can be struck between Trump and Xi.

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    • EU, partners propose needed WTO reform

      EU, partners propose needed WTO reform

      The EU together with other members of the World Trade Organisation (WTO) - Australia, Canada, China, Iceland, India, Korea, Mexico, New Zealand, Norway, Singapore and Switzerland – unveiled last Tuesday a proposal for concrete changes to overcome the current deadlock in the WTO Appellate Body, the EU press service reported. The proposals will be presented to the entire membership at the meeting of the WTO General Council on 12 December.

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    • Trade supports 36m jobs across the EU

      Trade supports 36m jobs across the EU

      Two new studies published on Tuesday by the European Commission highlight the increasing importance of EU exports for job opportunities in Europe and beyond by stating that exports to the world nowadays support 36m jobs across Europe - around two thirds more than in 2000. In addition, these jobs are on average 12% better paid than jobs in the rest of the economy and generate €2.3 trillion of value added in the bloc.

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