Stories tagged “Global Trade.”
30 stories
The US Supreme Court's decision to overturn part of the contentious tariffs has led to improved financial results for many German companies, who have received significant refunds from the US. The refunds have been a welcome boost for the companies, but the impact of the d…
Canada has announced it will impose tariffs on a wide range of key American industries, including cosmetics, dairy, wood products, and outdoor equipment, in response to levies imposed by the US.
China has vowed to protect its interests after the US announced plans to widen economic sanctions against Iran and its trading partners, which include Beijing. The US Treasury Secretary Scott Bessent described the plans for sanctions as 'the single greatest financial offe…
US Issues Ultimatum to Any Country 'Crazy Enough' to Continue Negotiating with Iran
The US Secretary of the Treasury, Scott Bessent, has announced a sustained financial attack against Iran, warning countries and their companies to end their ties with the Islamic Republic or face severe sanctions. The ultimatum comes as the US has exhausted its military o…
‘We don’t need Canada’: Trump threatens to double auto tariffs after trade talks collapse
US President Donald Trump has threatened to double tariffs on Canadian vehicles starting January 1, 2027, as trade talks between the two countries collapsed over the weekend. The move comes after the North American neighbours failed to reach a deal to avert new 50% tariff…
Canada-US trade talks collapsed over last-minute disagreements, triggering 50% US tariffs on $20 billion of Canadian goods. Canada will retaliate from September 8. The dispute threatens to deepen a trade war and reshape the countries' long-standing economic ties.
Fewer than 20 vessels transited the Strait of Hormuz over the weekend, according to ship tracker Kpler.
Super El Niño Threatens Food, Water and Trade Worldwide
A potential Super El Niño threatens global food, water, and trade. The phenomenon could lead to droughts, floods, and supply chain disruptions worldwide.
President Trump said Tuesday that there is no ongoing dialogue with Iran to end the war, and no discussions scheduled. The U.S. and Iran remain locked in a standoff over control over the Strait of Hormuz.
China has expanded its economic security toolkit to counter Western trade and financial restrictions. The country's new laws penalize companies and individuals for complying with foreign sanctions and export controls, putting foreign companies in a bind.
Trump Threatens US Takeover of Hormuz as Iran Vows to Retain Control
US President Donald Trump threatened to declare the Strait of Hormuz US territory after vowing to 'finish defeating' Iran in a New York rally on Friday. Iran rejected the claim on Saturday, with Deputy Foreign Minister Kazem Gharibabadi saying the strategic waterway 'will…
Cartaz was a permit issued by the Portuguese to merchants who wanted to pass through the Strait of Hormuz. The permit ensured the merchants' safety and allowed them to trade freely. The concept of cartaz has been revived in modern times, with the Iranian government imposi…
Iran plans to ban US and Israeli ships from the Strait of Hormuz, according to local media. The move is part of a proposed agreement between Iran and Oman to manage the strategic waterway. The agreement would prohibit ships from the US, Israel, and other hostile countries…
US Secretary of State Marco Rubio says progress has been made in talks between Oman and Iran over the Strait of Hormuz, raising hopes that one of the key sticking points in efforts to reduce tensions between Washington and Tehran could soon be resolved.
Twenty five US states sued the administration of US President Donald Trump over new tariffs of 10% to 12.5% on goods from 60 trading partners. The tariffs came into effect in July, targeting countries including the UK, China as well as the European Union.
25 US states sue Trump administration over sweeping new tariffs
Twenty-five US states, nearly all led by Democrats, sued Donald Trump's administration over wide-ranging tariffs, arguing that the president had exceeded his authority in imposing the new levies on dozens of countries.
US President Donald Trump insisted that fresh negotiations with Iran were underway, accusing Tehran of publicly denying talks even as discussions continued over the future of the Strait of Hormuz and Iran's nuclear program.
Yemen's Houthi rebels have denied planning to charge ships for passing through the Red Sea, saying passage through the waterway remains free. The denial came in a statement issued by the Houthi-run Humanitarian Operations Coordination Center (HOCC).
UK looks to build naval coalition to secure shipping in Strait of Hormuz
The UK is looking to build a naval coalition to secure the Strait of Hormuz, a key shipping route in the Middle East. This move comes as the US and Saudi forces strike an Iraqi militant alliance, expanding the war beyond its main focus in Iran.
Iran is not closing the sea. It is selling it, and Tokyo has been quoted a price
Iran has not closed the Strait of Hormuz, but is instead selling passage to ships, with Tokyo being quoted a price of up to $2 million per voyage. This has significant implications for global trade and Japan's economy.
Trump imposes new global tariffs, drawing protests from trading partners
The United States has imposed new tariffs of 10% and 12.5% on goods from 60 trading partners, including the EU and China, alleging those countries failed to curb imports made by forced labor. The move is the White House's first step in efforts to rebuild President Donald …
The Trump administration has imposed new tariffs of 10% and 12.5% on goods from 60 trading partners, including the European Union and China, over allegations of lax enforcement of forced labor bans. The move is the White House's latest effort to restore President Donald T…
US President Donald Trump has announced that he will use Iran's frozen assets to pay for damages to ships and cargo in the Strait of Hormuz. This move comes after Iran's military forces have repeatedly attacked merchant vessels in the region.
US Secretary of State Marco Rubio told Southeast Asian foreign ministers that Iranian control of the Strait of Hormuz would set a dangerous precedent with repercussions beyond the Middle East.
Asia FX: Yen slides past 163 as oil risks pressure importers; won holds resilient
The Japanese yen retreated beyond 163 per U.S. dollar on Wednesday, hovering near its weakest level since 1986 as rising U.S. Treasury yields and elevated oil prices underpinned the greenback, while investors remained alert for signs of official intervention from Tokyo.
The US military has launched a new wave of attacks against Iran, targeting the country's military capabilities and infrastructure. The attacks come after a two-week ceasefire between the US and Iran, which was agreed upon on April 8. The US has stated that it will continu…
An informed source in the Islamic Revolutionary Guard Corps (IRGC) Navy has talked about the current status of the Strait of Hormuz, emphasizing that restrictions on vessel transit will remain in place until conditions change. The source stated that as long as hostile act…
Iran has vowed to retaliate against the US if its infrastructure is targeted, threatening to destroy regional infrastructure and close the Bab el-Mandeb Strait.
Some ships refusing U.S.-military guided Hormuz transits after attacks, sources say
Shipping companies are avoiding using a U.S. military-guided transit operation through the Strait of Hormuz after a wave of Iranian attacks on vessels sparked safety concerns.
Shipping industry leaders are warning that President Donald Trump's proposal to charge a 20% levy on cargo passing through the Strait of Hormuz could discourage vessels from using the waterway even further, deepening a slowdown that has already cut traffic through the cri…