Trade war hurting everyone, G7 tells Trump
5 years, 4 months ago

Trade war hurting everyone, G7 tells Trump

Live Mint  

Biarritz: Group of Seven leaders have gathered in Biarritz, France, with signs of discord surfacing on issues from trade to climate. The G7 leaders all made clear to US President Donald Trump over dinner that the trade war is hurting everyone, according to a German official. Meanwhile, Trump, who announced higher tariffs on Chinese goods last week, raised eyebrows during a meeting with British Prime Minister Boris Johnson at the G7 when he responded in the affirmative to questions from reporters on whether he had second thoughts about the tariff move. When Trump said he had second thoughts about escalating the trade war with China, he meant that he wished he had raised tariffs on Beijing even higher, the White House said. The US President on Friday set an additional 5% duty on some $550 billion in targeted Chinese goods, hours after China unveiled retaliatory tariffs on $75 billion worth of US goods.

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History of this topic

The world faces its worst trade wars since the 1930s
1 month, 4 weeks ago

The world faces its worst trade wars since the 1930s

Hindustan Times  

THE WORLD stands on the brink of multiple trade wars. The same hawks then predict that new tariffs will raise “artificially low prices” for Chinese goods, thereby creating economic incentives large enough to alter trade flows, helping domestic firms to employ more Americans. When it comes to strategic goods and technologies from China, Mr Trump can raise some tariffs on …

Washington a threat to multilateral trading system
1 year, 4 months ago

Washington a threat to multilateral trading system

China Daily  

A logo is seen at the World Trade Organization headquarters before a news conference in Geneva, Switzerland, Oct 5, 2022. These actions have seriously undermined the core values and basic principles of the WTO, violated the US' international obligation to comply with WTO rules, and severely challenged the multilateral trading system and harmed shared interests of the WTO members. Based …

G7 stance on China complicated by huge stakes in economic ties, cooperation on global issues
1 year, 7 months ago

G7 stance on China complicated by huge stakes in economic ties, cooperation on global issues

Associated Press  

HIROSHIMA, Japan — Leaders of the Group of Seven advanced economies are generally united in voicing concern about China. Over the past two years, President Joe Biden’s administration has sought to reframe the relationship with Beijing and build support among like-minded nations for a strong response to what officials in Washington and some other Western democracies say is “economic coercion.” …

G7 stance on China complicated by huge stakes in economic ties, cooperation on global issues
1 year, 7 months ago

G7 stance on China complicated by huge stakes in economic ties, cooperation on global issues

The Independent  

Sign up for the daily Inside Washington email for exclusive US coverage and analysis sent to your inbox Get our free Inside Washington email Get our free Inside Washington email SIGN UP I would like to be emailed about offers, events and updates from The Independent. Over the past two years, President Joe Biden’s administration has sought to reframe the …

US-China trade war: WTO says American tariffs on Beijing in 2018 broke global trade rules
4 years, 3 months ago

US-China trade war: WTO says American tariffs on Beijing in 2018 broke global trade rules

Firstpost  

The Donald Trump administration has continued to play an active role in the World Trade Organisation, but many of Trump’s biggest trade offensives over the past three years have bypassed the organisation’s rules Washington: A World Trade Organisation panel said on Tuesday that the United States violated international trade rules by imposing tariffs on China in 2018 in the midst …

United States and China sign phase one of new trade deal
4 years, 11 months ago

United States and China sign phase one of new trade deal

ABC  

The United States and China have announced an initial trade deal that will roll back some tariffs and boost Chinese purchases of US goods and services, defusing an 18-month conflict between the world's two largest economies. Key points: The centrepiece of the deal is a pledge by China to purchase an additional $US200 billion of US farm products and other …

G7 Summit: signs of hope as Donald Trump says U.S.-China trade talks are on
5 years, 4 months ago

G7 Summit: signs of hope as Donald Trump says U.S.-China trade talks are on

The Hindu  

There were signs of a thaw in trade-war tensions between China and the U.S. on Monday as President Donald Trump said delegations would “very shortly” resume talks and Beijing’s top negotiator called for “calm”. “We are willing to solve the problem through consultation and cooperation with a calm attitude,” said Mr. Liu, according to a report by Chinese news outlet …

At G7 Summit, Donald Trump says US now being treated more fairly at WTO, cites recent victories in major cases
5 years, 4 months ago

At G7 Summit, Donald Trump says US now being treated more fairly at WTO, cites recent victories in major cases

Firstpost  

Donald Trump in the past complained of the differential treatment received by India and China at the WTO. Biarritz : United States President Donald Trump on Monday said that his country is being treated more fairly now by the World Trade Organisation in view of the US’ recent victories in major cases. That was the most recent victory; we are …

G7 member leaders hold discussions over Iran-P5+1 nuclear deal, Amazon fires and trade; but group's own unity appears shaky
5 years, 4 months ago

G7 member leaders hold discussions over Iran-P5+1 nuclear deal, Amazon fires and trade; but group's own unity appears shaky

Firstpost  

G7 leaders close their summit Monday with the discussion of world problems including the fires ravaging the Amazon rainforest but overshadowed by President Donald Trump’s trade wars Biarritz: G7 leaders close their summit Monday with the discussion of world problems including the fires ravaging the Amazon rainforest, but overshadowed by President Donald Trump’s trade wars and questions over the group’s …

G7 nations struggle to reach consensus on trade and security
5 years, 4 months ago

G7 nations struggle to reach consensus on trade and security

ABC  

It was once the G8, renamed the G7 after Russia was dumped when it annexed Crimea, but increasingly it's a group struggling to find consensus over the most pressing issues for the world. Key points: Mr Trump suggested he had second thoughts about his trade war with China but the White House clarified he regretted not making tariffs higher Scott …

White House reverses Trump’s comment in Biarritz on China ’second thoughts’
5 years, 4 months ago

White House reverses Trump’s comment in Biarritz on China ’second thoughts’

Live Mint  

Geneva: After escalating the trade war with China during the past 72 hours, the US President Donald Trump has softened his stand on Sunday in France saying that he has “second thoughts” as the talks with Beijing are getting “along very well”. The US President’s relentless trade war rhetoric against China dominated the proceedings, as several G7 countries called for …

G7 Summit: Trump at odds with Western allies on Iran, North Korea and Russia
5 years, 4 months ago

G7 Summit: Trump at odds with Western allies on Iran, North Korea and Russia

Live Mint  

Biarritz: US President Donald Trump insisted on Sunday that he was getting along well with leaders at a G7 Summit in France, but rifts emerged with his Western allies on issues ranging from his trade war with China to Iran, North Korea and Russia. "NICHE ISSUES" Underlining the multilateral discord even before the summit got underway, Trump threatened the meeting's …

EU leaders castigate Donald Trump over trade threats ahead of G7 Summit; meet to take place amid worries on global economy
5 years, 4 months ago

EU leaders castigate Donald Trump over trade threats ahead of G7 Summit; meet to take place amid worries on global economy

Firstpost  

Trump had warned earlier he that would impose punishing tariffs on French wine if France does not withdraw a new digital tax that will hit US tech giants. Biarritz: EU leaders rounded on US President Donald Trump over his trade threats on Saturday as they arrived in the chic French seaside resort of Biarritz for a G7 summit overshadowed by …

Trade and economy in focus as G7 leaders get down to work
5 years, 4 months ago

Trade and economy in focus as G7 leaders get down to work

India Today  

Leaders of the Group of Seven wealthy nations will discuss global trade woes at their annual summit on Sunday, likely laying bare a yawning divide between US President Donald Trump and his Western allies. Underlining the discord, Trump also threatened his host on the eve of the summit, saying the United States would tax French wine "like they've never seen …

China hits out at ’bullying’ US over new tariffs
5 years, 4 months ago

China hits out at ’bullying’ US over new tariffs

Live Mint  

Beijing: China on Saturday angrily hit out at the latest US tariff hikes on its goods, saying a "bullying" Washington would eventually "eat its own bitter fruit". European leaders have also warned US President Donald Trump of the dangers of trade skirmishes with China and Europe, which look set to dominate the G7 summit due to begin in France. The …

Global disputes set to jolt G7 summit in French resort
5 years, 4 months ago

Global disputes set to jolt G7 summit in French resort

Live Mint  

Biarritz, France: US President Donald Trump arrived in France on Saturday for what promises to be a fraught meeting of major industrialised nations, with friction over trade, climate change and Iran likely to snarl the talks. However, in a bleak assessment of relations between once-united Western allies, European Council President Donald Tusk acknowledged it would be hard to find common …

Donald Trump seen rallying G7 members against China at France meet
5 years, 4 months ago

Donald Trump seen rallying G7 members against China at France meet

Live Mint  

Faced with the fears of a recession and a festering trade war with China, US President Donald Trump could shore up the transatlantic alliance to “take China on” over its alleged “unfair practices” at the G7 summit in Biarritz, France, on Saturday, said analysts. Leaders from the group of seven industrialized countries—the US, Germany, Japan, France, Britain, Canada, and Italy—will …

Germany: The trade war is part of a ‘perfect storm’ hitting Europe’s biggest economy
5 years, 5 months ago

Germany: The trade war is part of a ‘perfect storm’ hitting Europe’s biggest economy

CNN  

London CNN Business — Fears that Germany could be dragged into recession by the trade war between the United States and China were stoked on Wednesday by data showing that production in Europe’s manufacturing powerhouse plunged in June. “We should prepare for contraction in the German economy.” Germany relies heavily on exporters that sell a disproportionate amount of goods to …

China says both US, China should make compromises in trade talks
5 years, 6 months ago

China says both US, China should make compromises in trade talks

India TV News  

Ahead of President Xi Jinping's meeting with his American counterpart Donald Trump this week, China on Monday said that it would not agree to any trade deal with the US at the expense of its sovereignty and both sides should make compromises to break the deadlock over the issue. Trump, who kicked off the trade war last year, is demanding …

WTO chief hopes Trump and Xi meet at G20 to resolve trade issues
5 years, 6 months ago

WTO chief hopes Trump and Xi meet at G20 to resolve trade issues

Al Jazeera  

WTO director general says G20 economies are imposing trade barriers at a rate well above the historical average. World leaders meeting in Japan next week must take real action on trade and not simply renew their call for easing of trade tensions, World Trade Organization Director-General Roberto Azevedo told reporters on Thursday. A meeting between United States President Donald Trump …

Opinion | Another Trump tweet, another trade salvo
5 years, 8 months ago

Opinion | Another Trump tweet, another trade salvo

Live Mint  

Just as the world thought that the US and China were headed for a truce on their trade war, US President Donald Trump has sprung a surprise, threatening to raise tariffs on $200 billion worth of Chinese imports as early as Friday. Trump’s threat could yet be no more than a playbook move aimed at negotiating a better deal ahead …

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