The International Monetary Fund Tuesday urged the United States to outline credible measures to reduce its budget deficit, pressuring the White House to detail plans to ratchet down record debt levels. Get the full story »
Filed under: Trade
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Oil tops $110 after latest Japan quake
Oil prices jumped above $110 a barrel after Japan was hit with another major earthquake. April oil futures rose $1.32, or 1.3 percent, to $110.15 a barrel. Prices had jumped as high as $110.44 – a level not seen since September 2008. Get the full story »
Boeing received banned U.S. subsidies: WTO
Guests exit a Boeing 787 Dreamliner aircraft at the Farnborough Airshow, Hampshire, July 18, 2010. (Ben Stansall/AFP/Getty Images)
Boeing Co. benefited from $5.3 billion in prohibited state and federal government subsidies, a panel of World Trade Organization judges determined in a report issued Thursday.
But the total amount that will need to be remedied by the U.S. in the trade case is about half that: $2.7 billion, since the U.S. government has already stopped providing Chicago-based Boeing billions of dollars in export-related tax breaks judged to be illegal by the WTO, U.S. officials said. Get the full story »
FDA bans some food imports from Japan
The Food and Drug Administration is banning imports of milk and fresh fruit and vegetables from areas near the Fukushima Daiichi nuclear plant that was damaged by the March 11 earthquake and tsunami. Get the full story »
China misses deadline on piracy ruling
China has missed a deadline to comply with a World Trade Organization ruling against restrictions on foreign companies distributing copyright-intensive goods including books, newspapers, films, DVDs and music, U.S. movie and music groups said Monday. Get the full story »
China trade swings to largest deficit in 7 years
China swung to a surprise trade deficit in February of $7.3 billion, its largest in seven years, as the Lunar New Year holiday dealt an unexpectedly sharp blow to exports.
March 9 at 1:14 p.m.
Filed under: China, International, Manufacturing, Pharmaceuticals, Politics, Trade WikiLeaks: Kirk asked China to let Baxter slide
When it comes to protecting consumers, American politicians in China don’t always practice what they preach, unpublished U.S. diplomatic cables show.
In 2007, two U.S. congressmen private admonished a Chinese official about the spike in potentially harmful made-in-China products being shipped around the world, according to a cable from the U.S. embassy in Beijing obtained by WikiLeaks and provided to Reuters by a third party. Get the full story »
Gary Locke to be new U.S. ambassador to China
U.S. President Barack Obama said Wednesday he had chosen Commerce Secretary Gary Locke to be the next U.S. ambassador to China, replacing Jon Huntsman, a Republican who is stepping down and mulling a run for the presidency.
Brazil wins ruling on U.S. orange juice tariffs
Brazil said on Monday the World Trade Organization had made a final ruling in its favor in a dispute with the United States over anti-dumping measures imposed on its orange juice exports.
The decision by a WTO dispute panel, which Brazil’s foreign ministry said in a statement was a “major victory,” would be the second major trade dispute Brazil has won against the United States after a successful case against U.S. cotton aid last year. Get the full story »
U.S. asks WTO to judge two trade spats with China
The United States said on Friday it had asked the World Trade Organization to decide on two disputes with China, one on restrictions Beijing has imposed on U.S. specialty steel exports and the other on access to its credit and debit card market. Get the full story »
WTO finds Boeing got illegal subsidies
Plane maker Boeing received unfair subsidies from the U.S. government, according to a World Trade Organization report on Monday, and Boeing and its European rival Airbus immediately quarreled over the scale of the support.
European rival Airbus said the report showed Boeing had received at least $5 billion in illegal subsidies and was only able to launch its 787 Dreamliner with such support. Boeing denied the assertions. Get the full story »
Airbus, Boeing clash ahead of WTO verdict
irbus and Boeing traded blows on Tuesday ahead of a final World Trade Organization ruling on claims Boeing received subsidies, in a tit-for-tat case brought by the European Union over similar U.S. claims against Airbus. Get the full story »
Deals to boost Illinois soybean sales to China
China’s growing appetite for Illinois soybeans was on display Thursday at a ceremonial signing of purchase agreements that could trigger as much as $450 million in Illinois soy sales to Chinese companies this year.
The potential sales represent a hefty slice of business for Illinois farms and soy operations, which have seen agricultural exports to China grow in recent years to more than $500 million annually, from $149 million in 2007, according to data from Gov. Pat Quinn’s office. Get the full story »
GE’s Immelt calls for truly free U.S.-China trade
General Electric Co.’s Jeffrey Immelt said Wednesday he wants the United States and China to open their borders for truly free trade between the world’s top two economies, rather than hiding behind protectionist walls.
But the chief executive of the largest U.S. conglomerate acknowledged in an interview with Reuters Insider that he treads carefully in going into business with Chinese companies. Get the full story »
Boeing to benefit from $45B U.S.-China trade deal
The United States and China reached agreement on export deals worth $45 billion, a senior U.S. official said Wednesday.
The agreements included a $19 billion deal with Boeing in which China will purchase 200 Boeing aircraft. Get the full story »
