Economy

“US trade deficit hits record high in January on imports surge”

“…The trade gap surged 34.0% to an all-time high of $131.4 billion from a revised $98.1 billion in December, the Commerce Department’s Bureau of Economic Analysis (BEA) said on Thursday. The percentage change was the largest since March 2015. Economists… Continue Reading…

Economy

“Canada to slap 100% import tariffs on Chinese electric vehicles over ‘unfair’ competition”

“Canada on Monday said would impose 100% import tariffs on China-made electric vehicles, as well as a 25% tariff on steel and aluminum imports from China. Canada said its EV, steel and aluminum industries face “unfair” competition from China, and… Continue Reading…

Economy

“President Biden unveils a historic wave of tariffs on ‘strategic’ Chinese imports”

“The White House formally unveiled a sweeping array of new tariffs on Chinese goods Tuesday that will raise duties on $18 billion in Chinese imports. The long-awaited announcement will touch an array of sectors, with steel to semiconductors to medical… Continue Reading…

Economy

“China reports double-digit plunge in July exports and imports, missing expectations”

“China said Tuesday that exports fell by 14.5% in July from a year ago, while imports dropped by 12.4% in U.S. dollar terms. That’s worse than what analysts had expected. A Reuters poll predicted a 12.5% decline in exports in… Continue Reading…

Economy

“US Trade Deficit Narrows Most on Record on Muted China Imports”

“The gap in goods and services trade narrowed $20.6 billion, or 19.1%, to $87.1 billion, Commerce Department data showed Tuesday. The median estimate in a Bloomberg survey of economists called for an $89.5 billion deficit. The figures aren’t adjusted for… Continue Reading…