EU Commission Hails End of Petrodollar, Welcomes ‘Multipolar Global Currency Regime’
The European Commission has publicly welcomed the end of the American petrodollar, heralding what they describe as a new “multipolar global currency regime”.

The European Commission has publicly welcomed the end of the American petrodollar, heralding what they describe as a new “multipolar global currency regime”.
U.S. Commerce Secretary Gina Raimondo met with her Chinese counterpart Wang Wentao in Washington on Thursday for “candid and substantive discussions on issues relating to the U.S.-China commercial relationship, including the overall environment in both countries for trade and investment and areas for potential cooperation.”
India and Russia on Thursday suspended talks about using the Indian rupee as currency to settle their bilateral trade, greatly disappointing Indian importers who wanted Russia to embrace their national currency but reassuring Americans worried about the dollar losing its coveted position as the standard medium of international trade.
During an interview with Bloomberg aired on Friday’s “Wall Street Week,” Willett Advisors CEO Steve Rattner, who also served as counselor to the Treasury Secretary in the Obama administration, discussed his recent trip to China and said that China is
On Friday’s broadcast of the Fox Business Network’s “Mornings with Maria,” Rep. Ro Khanna (D-CA) stated that he is open to ending China’s most-favored nation trade status and that giving the status to China along with their membership in the
During an interview with Bloomberg on Monday, U.S. Treasury Undersecretary for International Affairs Jay Shambaugh stated that while the U.S. will defend its economic and security interests, “we’re not trying to massively decouple” the American economy from China’s. Host David
During a portion of an interview aired on Wednesday’s broadcast of the Fox News Channel’s “Ingraham Angle,” House Speaker Rep. Kevin McCarthy (R-CA) stated that China’s most-favored nation trade status should be revoked and the House will move to do
BEIJING (AP) – China’s government on Thursday criticized the Netherlands for joining Washington in blocking Chinese access to technology to manufacture advanced processor chips on security and human rights grounds.
On Tuesday’s broadcast of CNN’s “Situation Room,” Rep. Vicente Gonzalez (D-TX) stated that trade with Mexico has “prevented us from having a very serious conversation on cartel activity in Mexico” and warned that without real action to stop the violence,
On Wednesday’s broadcast of the Fox Business Network’s “Mornings with Maria,” Sen. Marco Rubio (R-FL) stated that the United States should remove China’s most favored nation trade status because China does not follow any of the rules, and because giving
On Tuesday’s broadcast of the Fox News Channel’s “Ingraham Angle,” Sen. Josh Hawley (R-MO) argued that ending “the biggest strategic economic mistake that this country has made” in quite a long time by revoking China’s most favored nation status and
Former President Donald J. Trump unveiled his plans for a “sweeping pro-American overhaul of our tax and trade policy” aimed at bolstering American production and shedding economic dependence on China.
On Saturday’s broadcast of MSNBC’s “Katie Phang Show,” Rep. Jim Himes (D-CT) stated that we can’t let the Chinese spy balloon “color the deeper strategic relationship with China” because China is “massively important to the U.S. economy” and we have
Excluding fuel, import prices rose 0.3 percent in January after rising 0.4 percent in December. Economists had been expecting a 0.3 percent decline.
In an article in a propaganda mouthpiece of the CCP, senior Tory Philip Hammond argued for a return to “business as usual” with China.
Chinese dictator Xi Jinping and his Russian counterpart Vladimir Putin held what is becoming an annual end-of-year video call on Friday to consolidate their alliance and celebrate record levels of trade and other cooperation.
Russian Foreign Ministry official Zamir Kabulov said on Wednesday that Russia and India are taking steps to use their respective national currencies for trading with each other, instead of U.S. dollars or euros.
The Port of New York and New Jersey outperformed the Port of Los Angeles and other California ports in trade for the month of October due to ongoing labor disputes on the West Coast.
The British government’s Department for International Trade (DIT), currently trying to negotiate a trade deal with India, has confirmed it has neither produced nor seen any research on whether such a deal could have a negative impact on British workers.
A delegation of German MPs has sworn that they “stand by Taiwan” despite the fact that their left-wing Chancellor is allowing the sale of major infrastructure to Communist China.
Russia’s trade volume with India is exploding, even as India’s Western allies slap sanctions on Russia for its invasion of Ukraine. India’s greatly increased imports of Russian oil and fertilizer are key elements of the trade boom.
The Taliban terrorist organization, operating as the de facto government of Afghanistan, signed a major agreement with Russia last week that would significantly reduce pressure on the country’s fuel supply — but at an unclear price, the American outlet Radio Free Europe/Radio Liberty (RFE/RL) noted on Wednesday.
The European Union has now formally proposed a ban on all goods made with forced labour from being sold within the bloc, a move that is seen as being aimed at China’s abuse of minorities.
The Associated Press found more than 3,600 shipments of wood, metals, rubber and other goods have arrived at U.S. ports from Russia since it began launching missiles and airstrikes into its neighbour in February.
Turkey doubled its Russian oil imports year-on-year over a period spanning January to August 2022, Reuters reported on Monday citing new data from the financial analyst platform Refinitiv Eikon.
China’s trade with Russia from January to July increased by nearly 30 percent from the same period last year to reach $97.71 billion, China’s state-run Global Times reported Sunday.
Indian Commerce Secretary B.V.R. Subrahmanyam predicted this week that New Delhi will conduct up to $9 billion worth of trade with Russia and Sri Lanka combined over the next two months, Reuters reported on Wednesday.
The European Union has launched four new “infringement procedures” against the United Kingdom for not caving to its demands on Northern Ireland.
Pro-migration groups are using the record death rate among illegal migrants to demand they be hired by the government to safely import more of the coyote-delivered migrants.
President Joe Biden is traveling to Ohio on Wednesday, even as his administration is preparing to lift some of the economic tariffs on China.
China’s state-run Global Times on Monday reversed a good deal of spin from Beijing by admitting that U.S. demand for Chinese goods is falling sharply enough to damage the Chinese economy.
Russian companies have increasingly turned to China and India to sell products originally intended for U.S.-allied markets in recent months due to Western sanctions against Moscow, China’s state-run Global Times reported on Tuesday, noting that these alternative transactions are often settled in local currencies.
China’s government on Tuesday claimed Beijing is still New Delhi’s top trading partner despite recent reports revealing that the U.S. had supplanted China in the ranking over the past fiscal year, the Press Trust of India (PTI) reported.
The U.S. recently overtook China to become India’s top trading partner, the South China Morning Post (SCMP) reported on Monday, citing new data from India’s Ministry of Commerce and Industry.
The Washington Post, owned by Amazon Executive Chairman billionaire Jeff Bezos, is joining the Chinese Communist Party (CCP) in lobbying President Joe Biden to cut United States tariffs on China-made products.
Israel signed a “groundbreaking” free trade agreement with the United Arab Emirates on Tuesday, its first with an Arab country.
The state-run Coal India will soon import coal for use in public utilities to offset the effects of a nationwide power shortage in April, Reuters reported on Saturday citing a letter by India’s federal power ministry issued that same day. “Coal
President Joe Biden’s administration will continue exempting a number of China-made medical products from United States tariffs even as the Chinese coronavirus crisis exposed the nation’s over-reliance on foreign countries for vital supplies.
U.S. Speaker of the House Nancy Pelosi has threatened to block a free trade deal with Britain should the UK scrap some sections of the Northern Ireland Protocol, a controversial section of the Brexit agreement that has empowered the European Union to effectively divide the United Kingdom.
The European Union is reportedly threatening to target areas represented by government ministers and Brexiteers to pressure them not to scrap the Northern Ireland Protocol which gives it continuing power over the British province.