Economics

U.K. Ponders Post-Brexit Free Trade Zones

August 02, 2019 at 3:08 AM

Britain’s newly elected government is studying a scheme that would create as many as 10 free ports to avoid tariffs after the U.K. exits the European Union.

BMW to Britain’s PM: “Listen to the Economy”

August 01, 2019 at 4:41 PM

BMW CEO Harald Krueger urges U.K. Prime Minister Boris Johnson to “listen to the economy and listen to the people” about Brexit.

Trump Tariffs Add $300 Billion in Chinese Goods

August 01, 2019 at 3:57 PM

President Donald Trump says he will add 10% tariffs on the remaining $300 billion worth of goods from China not already being hit with punitive U.S. taxes, effective Sept. 1.

Auto Slowdown Threatens German Economy

August 01, 2019 at 1:51 AM

Production by Germany’s automotive sector shrank 12% in the first half of 2019, threatening the health of the country’s economy.

Fed Lowers Interest Rate by One-Quarter Point

August 01, 2019 at 12:03 AM

The Federal Reserve lowered its benchmark lending rate by 0.25 point yesterday, marking the central bank’s first decrease since 2008.

Pence Urges Congress to Act on USMCA

July 31, 2019 at 1:19 AM

Congressional approval of the updated North American Free Trade Agreement remains mired and “the clock is ticking,” says Vice President Mike Pence.

Modest Hope as U.S., China Resume Trade Talks

July 30, 2019 at 3:57 PM

Experts doubt that this week’s relaunched trade talks between China and the U.S. will produce significant results anytime soon, The Wall Street Journal says.

British Currency Slides to 28-Month Low on Brexit Fears

July 29, 2019 at 12:03 PM

Fears about terms of the U.K.’s departure from the European Union have cut the value of the British pound against the dollar and euro to 28-month lows.

SMMT: No-Deal Brexit Could Kill Auto Industry

July 26, 2019 at 3:57 PM

The British auto industry faces an “existential threat” if the U.K. crashes out of the European Union without a new trade deal, warns the Society of Motor Manufacturers and Traders.

U.S. Economic Growth Slows to 2.1%

July 26, 2019 at 11:58 AM

The American economy expanded by 2.1% in the second quarter of 2019, down from 3.1% in the first quarter and 3.5% in the same quarter last year, the U.S. Dept. of Commerce says.

ECB Ponders Rate Cut As Europe’s Outlook Slides

July 25, 2019 at 5:28 PM

The European Central Bank agreed to hold interest rates steady today. But President Mario Draghi hints at a future cut because the outlook for Europe’s economy “is getting worse and worse.”

EU Readies €35 Billion Response to U.S. Car Tariff

July 24, 2019 at 12:36 AM

The European Union is prepared to levy punitive tariffs on €35 billion ($39 billion) in U.S. goods if the Trump administration imposes a 25% tax on EU vehicles.