Economics

U.S. Economy Expands 3.2%

April 26, 2019 at 12:21 PM

America’s gross domestic product grew by an annualized 3.2% in the first quarter of 2019, according to a first estimate by the Dept. of Commerce.

Study: Fuel Price is Main Driver of India Car Sales

April 25, 2019 at 3:10 PM

Fuel prices are the biggest factor in determining sales of new cars and commercial trucks in India, according to the country’s central bank.

Trump Priority: Update NAFTA First, Then Drop Metals Tariffs

April 24, 2019 at 6:21 PM

The White House wants Congress to ratify the updated North American trade deal before considering whether to drop U.S. tariffs on imported steel and aluminum from Canada and Mexico.

Runup in U.S. Fuel Prices Slows

April 22, 2019 at 1:47 PM

Gasoline prices in the U.S. rose only one cent last week, the smallest weekly gain since mid-February, says auto insurer AAA.

Trade Panel Says New NAFTA Will Hurt Sales

April 18, 2019 at 5:34 PM

The Trump administration’s proposed successor to NAFTA will generate more than 28,000 auto-related jobs but cut annual car sales in the U.S. by 140,000 units, according to the U.S. International Trade Commission.

White House Says New NAFTA Will Spur $34 Billion Expansion

April 18, 2019 at 3:23 PM

The Trump administration tells reporters the trade deal it reached last year with Mexico and Canada will create 76,000 U.S. auto jobs and generate $34 billion in new investments in the American auto industry.

EU Envoys Okay Trade Talks with U.S. on Industrial Goods

April 11, 2019 at 3:04 PM

Trade officials from the European Union’s 28 member nations have agreed to open talks with the U.S. about lowering tariffs on industrial-sector goods, sources tell Bloomberg News.

Brexit Delayed to the End of October

April 11, 2019 at 2:01 PM

The European Union has agreed to extend the formal deadline for the U.K. to leave the bloc to Oct. 31.

IMF: Global Economy at a “Delicate Moment”

April 10, 2019 at 1:30 AM

The world’s economy, which expanded by 3.6% last year, will grow 3.3% this year—down from an earlier forecast of 3.5%, the International Monetary Fund predicts.

Canada Ponders New Tariffs on U.S. Goods

April 09, 2019 at 4:22 PM

Canada may expand its list of U.S. goods subject to retaliatory tariffs that followed U.S. taxes on imported Canadian aluminum and steel.

Mexico Border Delays Cut Trucks to U.S. by 50%

April 09, 2019 at 12:36 AM

Backups at the Mexican border to the U.S. slashed the flow of northbound trucks by half last week, Reuters reports.

Mexico Strengthens Labor Laws to Suit New Trade Deal

April 08, 2019 at 1:56 PM

Mexico is pushing through legislation to bolster workers’ rights and comply with the pending update to the North American Free Trade Agreement.