Economics

White House Threatens 40% Tariffs on Chinese Cars

November 29, 2018 at 12:31 AM

The Trump administration is looking at options to match its import tariffs on cars from China to the 40% rate levied by China on vehicles from the U.S.

Worst-Case Brexit Could Push U.K. into Deep Recession

November 28, 2018 at 5:48 PM

Two reports today say the U.K. will be worse off economically no matter how it exits the European Union next spring.

EU: No Last-Minute Effort to Avert U.S. Tariffs on Cars

November 28, 2018 at 11:06 AM

The European Union denies a German media report that its chief trade negotiator plans to meet with her counterparts in Washington, D.C., this week to avert U.S. tariffs on imported cars.

No-Deal Brexit Seen as “Catastrophic” to British Auto Industry

November 28, 2018 at 2:43 AM

Damage to the British auto industry will be “catastrophic” if the U.K. leaves the European Union next spring with no trade deal, the Society of Motor Manufacturers and Traders warns.

European Union Approves U.K.’s Brexit Plan

November 26, 2018 at 12:42 AM

European Union leaders have approved the U.K.’s plan to begin an exit from the alliance at the end of March 2019.

Oil Prices Continue to Dive as U.S. Production Surges

November 26, 2018 at 12:02 AM

Oil futures dropped 8% on Friday, the largest one-day decline in more than three years, thanks to booming U.S. production of petroleum from shale.

BMW, Daimler, VW Ready for White House Meeting on Tariffs

November 26, 2018 at 12:00 AM

Germany’s Big Three carmakers are prepared to meet with U.S. trade officials to discuss trade tariffs on their vehicles—as soon as they are invited to do so, Reuters reports.

U.S. May Swap Quotas for Tariffs on Canada, Mexico Steel, Aluminum

November 23, 2018 at 10:50 AM

The Trump administration is pushing to impose quotas on imported aluminum and steel from Canada and Mexico.

U.S. Envoy Asks: Should China Be Tossed Out of WTO?

November 21, 2018 at 4:55 PM

The head of the U.S. Council of Economic Advisers asks whether a “misbehaving” China should be sanctioned by the World Trade Organization or even removed from the group.

Trump Asks German Carmakers to Discuss Trade

November 20, 2018 at 4:46 PM

President Donald Trump has invited the CEOs of BMW, Daimler and Volkswagen to the White House to discuss a trade deal between the U.S. and Germany.

Carmakers Fret Over Tariffs as NAFTA Update Deal Nears

November 19, 2018 at 1:38 AM

Carmakers are worried that the U.S. won’t drop aluminum and steel tariffs for Canada and Mexico even after the three countries sign an updated trade pact at the end of this month.

BMW Warns that “Hard” Brexit Could Lead to Plant Closures

November 16, 2018 at 12:57 PM

BMW AG says it is preparing for a worst-case “hard” Brexit when the U.K. quits the European Union next spring that could mean closing down operations in England.