Economics

Envoys Aim for Fast Track on NAFTA Updates

August 16, 2017 at 12:00 AM

Negotiators hope for a fast start today on talks to update the 23-year-old North American Free Trade Agreement.

Canada Lays Out Its Goals for NAFTA Update

August 14, 2017 at 4:34 PM

Canada’s foreign minister presented four key goals when negotiations begin on Wednesday to update the 24-year-old North American Free Trade Agreement.

Carmakers Fret Changes to NAFTA’s Rules of Origin

August 14, 2017 at 12:05 AM

North American carmakers worry that even a slight change in rules that define “local” content could upset their global supply chains and hike vehicle prices, Automotive News notes.

India Hikes Taxes on Luxury Cars, SUVs

August 09, 2017 at 12:00 AM

India, which introduced a nationwide goods and services tax last month to replace the country’s complex array of local and national taxes, has increased the rate on certain luxury vehicles from 43% to 53%.

Fuel Purchases Hit 2Q High in South Korea

August 07, 2017 at 12:42 AM

Falling oil prices spurred South Korea’s consumption of gasoline and diesel fuel to climb to a second-quarter record this year, The Korea Herald reports, citing government data.

U.S. Unemployment Drops to 4.3%

August 04, 2017 at 2:41 PM

The jobless rate in the U.S. declined to 4.3% in July from 4.4% in June as 209,000 more jobs were created, according to the U.S.

Eurozone Jobless Rate at 18-Year Low

July 31, 2017 at 1:08 PM

Unemployment in the eurozone declined to 9.1% in June, its lowest sine February 2009, according to Eurostat.

OPEC Scrambles to Assert Control Over Oil Prices

July 24, 2017 at 4:16 PM

The failure of OPEC members to cut oil output has pushed the cartel to mull new moves to stabilize the price of crude.

IMF Cuts Outlook for U.S. Growth

July 24, 2017 at 2:00 AM

The International Monetary Fund has lowered its growth forecast for the U.S. economy to 2.1% through 2018, a pace well below the pace of overall global growth.

Study: German Ban on Combustion Engines Could Jeopardize 600,000 Jobs

July 18, 2017 at 2:37 PM

More than 600,000 jobs could be threatened in Germany if the country acts on a proposal to require zero-emission vehicles by 2030, the Munich-based Ifo Institute forecasts.

Cutting Trade Deficits Top Trump’s NAFTA Goals

July 18, 2017 at 12:00 AM

The Trump administration’s top priority in modifying the 23-year-old North American Free Trade Agreement is to shrink U.S. deficits with Canada and Mexico, says U.S. Trade Representative Robert Lighthizer.

China’s Economy Expanded 6.9% in Second Quarter

July 17, 2017 at 2:23 AM

China’s economy expanded at an annualized 6.9% in April-June compared with the same quarter in 2016, the National Bureau of Statistics reports.