Economics

Oil Prices Drop as OPEC Prepares to Hike Production

May 25, 2018 at 2:19 PM

Oil futures fell roughly $3 per barrel today as OPEC and its allies prepare to increase production after an 18-month-long cutback designed to end a global glut of petroleum.

Proposed U.S. Auto Import Tariffs Rile Carmakers Worldwide

May 24, 2018 at 4:00 PM

The Trump administration’s threat to tax imported cars by as much as 25% has produced instant alarm among carmakers everywhere.

Trump Ponders 25% Import Tariffs on Foreign Cars

May 23, 2018 at 5:56 PM

The White House is weighing a plan that would invoke national security to justify a 25% import tax on imported vehicles.

U.S. Pressures GAZ to Drop Deripaska Ties

May 23, 2018 at 1:11 AM

Russian carmaker OAO GAZ can avoid new U.S. economic sanctions only if oligarch Oleg Deripaska disposes of his ownership of the company through his Basic Element group, according to the U.S.

China Will Lower Import Tariffs to 15% on July 1

May 22, 2018 at 9:00 AM

China’s ministry of finance says it will reduce the country’s import tariffs to 15% from 25% on July 1.

U.S. Puts China Trade Sanctions on Hold

May 21, 2018 at 1:18 AM

The U.S. has suspended plans to impose as much as $150 billion in tariffs on Chinese goods in exchange for China’s pledge to “significantly increase” its purchase of American goods and services.

U.S. Oil Exports Set Record High

May 17, 2018 at 4:52 PM

Exports of crude oil by U.S. producers climbed to an all-time high of some 2.6 million barrels per day last week, says the U.S. Energy Information Administration.

Japan’s Economy Ends Two Years of Steady Growth

May 17, 2018 at 12:54 AM

Japan’s gross domestic product contracted by 0.2% in January-March, ending a two-year run of continuous expansion, according preliminary government data.

NAFTA Misses Fast-Track Deadline, but Talks Continue

May 17, 2018 at 12:05 AM

Trilateral talks to update NAFTA will continue, even though negotiators failed to meet today’s deadline to ensure fast-track review by the current U.S. Congress.

NAFTA Talks Continue as Trump Blasts Pact Again

May 14, 2018 at 2:26 AM

President Donald Trump, reiterating that he considers NAFTA a “horrible disaster,” tells carmakers he wants them to produce “millions” more vehicles in the U.S.

May 17 Deadline Looms for NAFTA Approval

May 11, 2018 at 1:58 AM

A firm agreement on an updated NAFTA would be needed by May 17 to ensure that the current Congress has time to vote on it, warns House Speaker Paul Ryan.

European Carmakers Scramble to Save Iran Business Plans

May 09, 2018 at 5:04 PM

European carmakers are rushing to shield their just-launched operations in Iran after the U.S. abandoned the Iranian nuclear agreement yesterday and said it will immediately impose new economic sanctions on the country.