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Keyword: trade

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  • Japan, Netherlands to join U.S. in restricting chip equipment exports to China, Bloomberg reports

    01/27/2023 7:46:50 AM PST · by SeekAndFind · 5 replies
    Reuters ^ | 01/27/2023
    TOKYO, Jan 27 (Reuters) - Japan and the Netherlands will soon agree to join the United States in restricting exports of semiconductor manufacturing equipment to China, Bloomberg News reported. Talks between the countries will conclude as early as Friday, with the Netherlands restricting ASML Holding NV (ASML.AS) from selling machines to China used to make certain types of advanced chips, Bloomberg reported, citing people familiar with the matter. Japan would impose similar restrictions on Nikon Corp (7731.T), the report said. Deputy Chief Cabinet Secretary Seiji Kihara, a government spokesperson, said Japan would make "appropriate steps" based on the United States'...
  • Climate Change May Usher in a New Era of Trade Wars

    01/25/2023 5:49:21 AM PST · by Oldeconomybuyer · 13 replies
    The New York Times via Yahoo ^ | January 25, 2023 | By Ana Swanson
    WASHINGTON — Efforts to mitigate climate change are prompting countries across the world to embrace dramatically different policies toward industry and trade, bringing governments into conflict. These new clashes over climate policy are straining international alliances and the global trading system, hinting at a future in which policies aimed at staving off environmental catastrophe could also result in more frequent cross-border trade wars. “The climate crisis requires economic transformation at a scale and speed humanity has never attempted in our 5,000 years of written history,” said Todd N. Tucker, the director of industrial policy and trade at the Roosevelt Institute,...

    07/24/2015 5:43:25 AM PDT · by SJackson · 1 replies ^ | July 23, 2015 | Humberto Fontova
    "Intelligence trafficker to the world" sets up shop in the nation's capital. “It [the Cuban embassy opening] is going to be a celebration on our part,” gushed Gustavo Machin, deputy director for U.S. affairs at Cuba’s Foreign Ministry. “Many Americans who have supported the Cuban Revolution will be among the 500 celebrants at the new Embassy.” Despite the innocuous professional title the mainstream media insists on using for Gustavo Machin, he’s actually a KGB-trained Cuban spy who was burnt and booted from the U.S. back in 2003 shortly before the invasion of Iraq. He was among 14 other Cuban spies...
  • Russia Close To Legalizing International Trade In Bitcoin, Crypto: Head Of Finance Committee

    12/23/2022 11:20:48 AM PST · by SeekAndFind · 21 replies
    Bitcoin Magazine ^ | 12/23/2022 | NAMCIOS
    Russia’s Congressional finance committee chairman, Anatoly Aksakov, said the country is moving to greenlight international trade in cryptocurrency within the next month, according to a report by national news agency TASS."In January, we want to legalize cryptocurrencies to ensure foreign trade activities," Aksakov said, per a translated version of the report.The chairman highlighted that although Russia is taking steps to allow bitcoin and cryptocurrency payments for imports, there are no plans to encourage similar usage of the burgeoning assets within the boundaries of the nation’s territory."The circulation of cryptocurrencies as a means of payment on the territory of Russia will...
  • Why EU leaders are upset over Biden's Inflation Reduction Act

    12/16/2022 6:00:26 AM PST · by Oldeconomybuyer · 3 replies
    France24 ^ | December 16, 2022
    EU leaders are looking for ways to counter aspects of the US Inflation Reduction Act (IRA) that they fear will unfairly discriminate against European firms. With the IRA giving generous subsidies and priority access to American businesses, the EU is now considering a subsidy program of its own. European Union leaders on Thursday sought ways to stand up to the United States over its new green technologies plan that they say unfairly discriminates against Washington's best global ally when both should be standing shoulder to shoulder in their rivalry with Russia and China. While the 27-nation EU argues the U.S....
  • Rishi Sunak: Golden era of UK-China relations is over

    11/29/2022 12:52:02 AM PST · by nickcarraway · 14 replies
    BBC ^ | 11/29
    Rishi Sunak has said the so-called "golden era" of relations with China is over, as he vowed to "evolve" the UK's stance towards the country.In his first foreign policy speech, the PM said the closer economic ties of the previous decade had been "naïve". He said the UK now needed to replace wishful thinking with "robust pragmatism" towards competitors. But he warned against "Cold War rhetoric", adding that China's global significance could not be ignored. Mr Sunak has faced pressure from Tory backbenchers to toughen the UK's stance on China since he took over as Tory leader and UK prime...
  • Biden Admin Quietly Greenlights Plan To Build Huge Gulf of Mexico Oil Terminal off Texas

    11/26/2022 9:20:53 PM PST · by SeekAndFind · 63 replies
    Epoch Times ^ | 11/26/2022 | Katabella Roberts
    The Biden administration has quietly approved plans to build a new crude oil terminal in the Gulf of Mexico off Texas, seemingly in contradiction to the president’s climate agenda.The Department of Transportation’s Maritime Administration approved the application (pdf) for Enterprise’s Sea Port Oil Terminal, one of four proposed offshore oil export terminals, on Monday.According to the application, the port will be located offshore of Freeport, Texas. It will have 4.8 million barrels of storage capacity and add 2 million barrels per day to the U.S. oil export capacity.In its 94-page decision (pdf), the Maritime Administration said that it had approved...
  • Xi Jinping Is Taking Advantage of Biden's Soft Touch

    11/25/2022 11:19:21 AM PST · by nickcarraway · 6 replies
    Nikkei ^ | November 24, 2022 | Brahma Chellaney
    Assurances to China contrast with call for Russian regime changeThe new export curbs U.S. President Joe Biden recently imposed on the Chinese chip industry to help slow Beijing's technological and military advances have obscured his administration's relatively conciliatory stance since taking office. Even the export curbs have been undercut by exemptions granted to major Taiwanese and South Korean companies for their chipmaking facilities in China. Chinese President Xi Jinping, meanwhile, wants Biden to live up to "Five Nos" which Beijing claims the U.S. president has committed to: No to changing China's authoritarian system; no to containing China; no to seeking...
  • Southern California’s Notorious Container Ship Backup Ends

    10/24/2022 9:35:19 AM PDT · by george76 · 14 replies
    Wall Street Journal ^ | Oct. 21, 2022 | Paul Berger
    Slump in imports, cargo diversions to other ports help shrink queue of dozens of vessels The backup of container ships off Southern California’s coast that was at the heart of U.S. supply chain congestion during the Covid-19 pandemic has effectively disappeared. The queue of ships waiting to unload at the ports of Los Angeles and Long Beach fell from a peak of 109 ships in January to four vessels this week ... . U.S. import volumes are declining ... The ports of Los Angeles and Long Beach together handled 686,133 loaded import containers in September, down 18% from a year...
  • As Covid Hit, Washington Officials Traded Stocks With Exquisite Timing

    10/20/2022 1:49:18 AM PDT · by abb · 21 replies
    The Wall Street Journal ^ | October 19, 2022 | Rebecca Ballhaus , Joe Palazzolo , Brody Mullins , Chad Day, John West
    Federal officials working on the government response to Covid-19 made well-timed financial trades when the pandemic began—both as the markets plunged and as they rallied—a Wall Street Journal investigation found. In January 2020, the U.S. public was largely unaware of the threat posed by the virus spreading in China, but health officials were on high alert and girding for a crisis. A deputy to top health official Anthony Fauci reported 10 sales of mutual funds and stocks totaling between $157,000 and $480,000 that month. Collectively, officials at another health agency, Health and Human Services, reported 60% more sales of stocks...
  • Biden Administration strikes huge blow to Chinese tech industry: One of the Few Things His Administration Got Right

    10/17/2022 4:17:33 PM PDT · by SeekAndFind · 38 replies
    Hotair ^ | 10/17/2022 | David Strom
    I am pretty sure that I have never praised the Biden Administration. I mean, why would I?Well, I may have found a reason, believe it or not. It seems that the Biden Administration has struck a huge blow against the Chinese tech industry, and it wasn’t even by accident. They did something right, and never let it be said that I am more unfair to liberals than my job naturally requires.I learned about this from a Twitter thread that I ran across on Friday and wanted to take some time to digest the information, both in the thread and by...
  • Someone Is Betting That the Market Will Collapse

    10/13/2022 8:53:27 PM PDT · by lasereye · 79 replies
    Barrons ^ | OCT 13, 2022 | Steven Sears
    Amid the gloom, one trade looms so unusually pessimistic that it is hard to process because the world would likely need to end, or come close to it, for it to prove profitable. The trade is predicated on the Cboe Volatility Index, or VIX, hitting 150 by March, a level that has never before been realized. In recent sessions, an investor bought 50,000 VIX March $150 call options, paying about 19 cents per contract. The trade is so large, and so unusual, that it was almost certainly made by a wealthy investor worried about a massive stock market decline, perhaps...
  • China’s Economy Is Headed For One Of The Largest Meltdowns Ever

    09/06/2022 5:37:39 AM PDT · by whyilovetexas111 · 42 replies
    19FortyFive ^ | 9/5/2022 | Gordon Chang
    To stimulate the economy, China’s regulators are forcing Chinese banks to meet high loan quotas. To hit the difficult-to-attain targets, ingenious bankers are lending and simultaneously allowing borrowers to deposit identical amounts with their institutions at identical interest rates. Companies no longer want money to launch new projects. Pessimism about the economy dominates thinking in Chinese boardrooms and throughout the rest of society. The big story is not that the Chinese economy is falling apart.
  • Chinese Company Profits Are Collapsing Like its 2020 Again

    09/04/2022 4:39:43 PM PDT · by nickcarraway · 5 replies
    CNN ^ | 9/2 | Laura He
    China is suffering one of its worst earnings recessions on record as Beijing’s zero-Covid policy and a real estate crisis take their toll on the country’s listed companies. More than 4,800 Chinese companies listed in Shanghai, Shenzhen and Beijing have now released their earnings for the first half of the year. It was a bloodbath. As many as 53% posted a decline in net profit, according to data from Wind and Choice, two major financial information services in the country. That was almost as bad as 2020, when companies posted their worst earnings season on record as the country came...
  • US oil reserves fall to 37-year low as Biden continues to export America’s oil to China

    08/31/2022 7:40:44 PM PDT · by bitt · 26 replies ^ | 8/31/2022 | ARSENIO TOLEDO
    The United States’ strategic oil reserves fell to a 37-year low as President Joe Biden continues to release millions of barrels of oil and put them up for sale, with most going overseas. According to the latest report from the Department of Energy, the U.S. Strategic Petroleum Reserve (SPR) fell to 453.1 million barrels as of Aug. 19. This is the lowest level the SPR has been since Jan. 1985. Stockpiles have fallen by more than 180 million barrels this year as the Biden administration ordered the release of record amounts of crude oil, supposedly to cool sky-high inflation and...
  • Mexico’s imports from Russia soar

    08/27/2022 6:38:58 PM PDT · by elpadre · 39 replies ^ | August 28, 2022
    Imports of Russian goods by Mexico saw a substantial annual increase of more than 20% during the first six months of the current year, according to the latest figures released by the Bank of Mexico. In monetary terms, Mexican imports from Russia amounted to $1.193 billion. In June alone, purchases of Russian goods by the North American nation exceeded $275 million – the second-highest figure in Mexico’s history. In May 2021, the country bought Russian goods worth $283.9 million, reports RT. In 2021, trade turnover between the two countries reached a record high, exceeding $4.5 billion. The US remains Mexico’s...
  • Which Nations Face The Biggest Disruption From China’s Taiwan-Trade-Blockade?

    08/06/2022 10:50:30 PM PDT · by SeekAndFind · 5 replies
    InvesBrain ^ | 08/06/2022 | Tyler Durden
    Following an official visit of U.S. Speaker of the House of Representatives Nancy Pelosi to Taiwan, relations between the island state known as the Republic of China and its direct neighbor, the People's Republic of China, have cooled considerably.Apart from an increasing number of military exercises off the coast of Taiwan stoking fears of an escalation of the long-running conflict, the People's Republic also has, to a certain extent, halted trade with Taiwan.While an import ban on certain Taiwanese fruits and fish is unlikely to become a source of global tensions, China's export stop on sand, a resource essential for...
  • "Friendshoring" Trend Sees Companies Moving Operations To Dodge Tensions And Trade Wars Surrounding Countries like China and Russia

    08/04/2022 9:51:18 PM PDT · by SeekAndFind · 15 replies
    Nation and State ^ | 08/04/2022 | Tyler Durden
    Wary of mounting tensions surrounding out-of-favor countries like China and Russia, multinational corporations are shifting operations to places that present less geopolitical risk. The trend has been labelled "friendshoring." While that's a play on "offshoring," this isn't about companies moving operations back to the United States or Europe, but rather seeking foreign alternatives that retain the benefit of low labor costs but with less international controversy. For now, the conversation is principally about China. “Every company that I speak to at the moment is engaged in rethinking their [China-focused] supply chains," Tony Danker, head of the Confederation of British Industry,...
  • Crude oil prices have tanked to their lowest levels since Russia's invasion of Ukraine

    08/05/2022 6:24:52 AM PDT · by BeauBo · 62 replies
    Business Insider ^ | 5 Aug 2022 | Huileng Tan
    Oil prices have fallen to their lowest levels since Russia's invasion of Ukraine on February 24. Recession fears are putting a damper on demand for oil, sending futures down 10% this week alone. Gas prices in the US have been falling for 49 straight days. Benchmark US West Texas Intermediate settled 2.1% lower at $88.54 a barrel on Thursday — down about 10% this week so far. They were trading at $88.98 a barrel at 12:10 a.m. EDT on Friday. Benchmark international Brent crude oil futures settled 2.75% lower at $94.12 a barrel on Thursday — down 14% this week...
  • Mexico’s president taunts Biden over energy policy trade fight: ‘Ooooh, I’m so scared’

    07/29/2022 3:14:00 PM PDT · by EBH · 46 replies
    Fortune ^ | 7/21/22 | Will Daniel
    There’s a brewing trade dispute between the U.S. and Mexico on energy policy, and it’s getting ugly fast. “Ooooh, I’m so scared,” Mexican President Andrés Manuel López Obrador (AMLO) said at a Wednesday press conference, referencing a popular Mexican song and taunting the Biden administration by ordering his staff to play it. When reporters asked him how he proposes to solve the policy spat, AMLO was defiant: “Nothing will happen.” What is going on here? It started early on Wednesday, when U.S. officials argued that AMLO’s energy policies favor Mexico’s state-run electrical utility and oil companies and undermine American business....