Global trade

Two Chinese oil supertankers on their way to pick up Venezuelan oil made U-turns and headed back to Asia, reports indicate.

China is flooding emerging and secondary markets with millions of gasoline cars left unsold at home where EVs are pushed instead, Reuters reported on Tuesday.

President Donald Trump announced Saturday that the United States will impose an additional 10 percent tariff on Canadian imports, saying Canada aired a deceptive advertisement using altered audio and video of former President Ronald Reagan to undermine his administration’s tariff policy.

President Donald Trump on Thursday shut down trade talks with Canada after he accused Ottawa of airing a “fraudulent” television advertisement wilfully misquoting former President Ronald Reagan in an anti-tariff ad campaign.

Italy’s Prime Minister Giorgia Meloni is due in Washington on Thursday to meet with President Donald Trump. She is expected to make a personal appeal for less punitive tariffs on European Union (E.U.) trade with the world’s biggest economy.

Australia has rejected China’s plea to “join hands” against U.S. President Donald Trump’s tariffs, declaring Thursday it is happy to keep negotiating with its long-term ally rather than join Beijing’s chorus of aggrieved opposition to Washington.

E.U. Commission President Ursula von der Leyen on Thursday welcomed U.S. President Donald Trump’s move to pause reciprocal tariffs, saying it’s an important step towards stabilising the global economy.

United Arab Emirates (UAE) officials committed to a 10-year, $1.4 trillion investment framework in the U.S. after a meeting President Donald Trump, a White House official said on Friday.

U.S. President Donald Trump publicly affirmed Thursday he is working on a trade deal with the UK and suggested Britain could be exempt from tariffs if one is agreed, setting the country on its own post-Brexit path as the European Union braces for punitive imposts.

Move over China, America is coming through. That was the message Wednesday when new figures showed Germany’s biggest single trading partner is now the U.S. for the first time since 2015, displacing China from the top spot as exports to the Asian power declined.

President Donald Trump warned Thursday night his sweeping 25 percent tariff on goods from Canada and Mexico begins in 48 hours, adding he’s still of a mind to include oil from those countries as part of his import taxes.

In preparation for President-Elect Donald J. Trump returning to the White House, European Commission chief Ursula von der Leyen suggested that the bloc will look to replace Russian liquid natural gas (LNG) imports with supplies from the United States.

The U.N. warned global consumers Friday to get ready to begin paying more for just about everything – if you haven’t already started.

The Chinese government was quick to cheer Australia’s rejection of a United States’ call to send a warship to help police vital Red Sea trade routes, gushing Wednesday that Canberra was finally stepping out of America’s “shadow.”

A “possible explosion” struck a key shipping lane off Yemen Monday, the latest incident in the vital waterway threatened by Huthi rebels.

A stop-and-board operation by Iran’s paramilitary Revolutionary Guard Corps. helped it seize a Panamanian-flagged oil tanker in the strategic Strait of Hormuz on Wednesday.

Argentina struck a deal with Beijing on Wednesday to stop using U.S. dollars to pay for Chinese imports and embrace the yuan instead.

Olaf Scholz has approved the controversial sale of a stake in the port of Hamburg to a Communist Chinese state-owned shipping giant.

China’s dominance of global trade in the wake of the Wuhan coronavirus pandemic was confirmed on Friday with the release of annual data that showed its trade surplus hitting a record high of $676 billion in 2021, a 26 percent gain over 2020 driven by a 30 percent surge in exports.

Eighty thousand shipping containers are stuck at the Port of Savannah – a full 50 percent more than normal, the New York Times reported Sunday.

President Joe Biden is still struggling to meet the immediate challenge of clogged sea ports, as American consumers face major shortages ahead of the Christmas holiday season.

No country has had a more positive impact on the modern world than Britain, former Australian Prime Minister Tony Abbott said Monday, speaking as the last details of a post-Brexit trade deal between the two nations were being finalised.

CAIRO — Egypt on Tuesday announced plans to widen and deepen the southern part of the Suez Canal where a hulking vessel ran aground and closed off the crucial waterway in March.

The massive container ship MV Ever Given which has been blocking the Suez Canal for almost a week was “partially refloated” Monday morning, raising hopes the critical waterway will soon be cleared for a resumption of maritime traffic.

China overtook the U.S. as the European Union’s top trading partner in 2020, as ties between Brussels and Beijing continue to deepen.

The world´s biggest shipping company said it expects its transport volumes to drop by up to 25% as the world economy slides to recession,

U.S. President Donald Trump on Tuesday said he and Chinese President Xi Jinping will have a signing ceremony to confirm the first phase of the trade deal agreed to this month.

President Donald Trump said Wednesday evening that he would delay proposed tariffs on China in October, as a positive gesture to Vice Premier Liu He.

WASHINGTON, DC — Foreign Minister of Brazil Ernesto Araujo claimed on Wednesday his country has “benefitted a lot from trade with China,” apparently diverging from conservative President Jair Bolsonaro’s warnings against business with the communist regime as a presidential candidate last year.

President Donald Trump said Wednesday he was the “chosen one” to battle China in the ongoing trade war between the two countries.

Iran on Sunday slammed as “hostile” a UK push for a European-led naval mission to escort tankers transiting the Strait of Hormuz, amid heightened tensions over the seizure of foreign-flagged vessels.

Secretary of State Mike Pompeo announced on Tuesday that sanctions will be imposed on China’s Zhuhai Zhenrong Company and chief executive Youmin Li for purchasing Iranian oil in defiance of U.S. sanctions.

U.S. President Donald Trump touched down in Osaka, Japan, early Thursday morning ahead of his third G20 summit meeting.

U.S. President Donald Trump on Monday spoke out in favor of  “great” American wine when he promised to confront France over unfair tariffs on the imported product.

Another day, another anti-U.S. threat from Tehran. Iran’s foreign minister warned on Monday that America  “cannot expect to stay safe” in any economic war against the Islamic republic.

President Donald Trump defended tariffs as a “beautiful thing” on Thursday and said Republicans should support him.