US Commerce Secretary Gina Raimondo announced late Tuesday that The United States has reached an agreement with the United Kingdom to end tariffs on British steel and aluminum. “By allowing duty-free flow of steel and aluminum from the UK, we further reduce the gap between supply and demand for these products in the United StatesRaimondo […]
Tag: Foreign trade
International trade surplus expands to CAD 3.13 billion in November from CAD 2.03 billion forecast
Canada posted a larger-than-expected trade surplus on Thursday. The loonie did not react to the data, with a focus on Friday’s employment report. Canada’s merchandise trade surplus with the world expanded to C $ 3.13 billion in November from C $ 2.26 billion in October (which has been revised from C $ 2.09 billion), monthly […]
The US Treasury refrains from labeling its main trading partners as currency manipulators
According to a report released by the US Department of the Treasury, no major trading partner of the country was labeled as a currency manipulator. Outstanding conclusions: “The currency report concludes that Vietnam and Taiwan continue to meet the three manipulation criteria for enhanced engagement under the 2015 law.” “Reaching an agreement with Vietnam in […]
Treasury Minister says green shoots of economic recovery are beginning to be seen
UK Treasury Secretary John Glen said in a statement Tuesday that is starting to see green shoots of economic recovery. In the meantime, the UK has reached a landmark trade deal with Australia. Additional comments “British cars, Scotch whiskey and confectionery will be cheaper to sell in the tariff-free deal.” “The agreement also offers young […]
A trade agreement has been agreed with the UK
The Australian Minister of Commerce, Dan Teh, announced on Tuesday that a trade agreement with the United Kingdom has been reached after talks between the prime ministers of both nations. “Both prime ministers have held a positive meeting in London overnight and resolved outstanding issues in relation to the (Free Trade Agreement}, “Tehan said. On […]
UK-Australia free trade agreement to be announced Tuesday morning – Sky News
Earlier in the morning on Tuesday in Asia, Sky News published headlines suggesting the announcement of the trade deal between the UK and Australia after Brexit early Tuesday, by London time. “Boris Johnson and Australian Prime Minister Scott Morrison agreed on the general terms of the deal over dinner at 10 Downing Street on Monday […]
Ministry of Commerce says you cannot be blindly optimistic about foreign trade in 2021
China’s Ministry of Commerce has said in a statement on Wednesday that it does not there is reason to be overly optimistic about foreign trade this year, as reported by Reuters. Key Comments: “The external environment for China’s foreign trade remains complex and the country cannot be blindly optimistic about the trade prospects in 2021. […]
UK: Prime Minister Johnson backs duty-free trade with Australia
British Prime Minister Boris Johnson is willing to offer Australia duty-free access to UK food markets despite warnings that it could affect the country’s agriculturereports The Times on Wednesday. However, George Eustice, Secretary of the Environment, and Michael Gove, Minister of the Cabinet Office, have privately expressed reservations about the deal. This comes after the […]
Truss Says It Will Begin Talks On A Full Free Trade Agreement With India In Autumn
Speaking at a virtual summit between UK and Indian trade partners on Tuesday, British Trade Minister Liz Truss said that “We will begin talks on a full free trade agreement with India in the fall“. Additional comments: “It will work with the World Trade Organization (WTO) to see if it can increase the supply of […]
Forex Today – Asian Session: Upbeat US Data Stimulates Risk Appetite
What you need to know on Friday, April 30: The preliminary estimate for the United States for the Gross Domestic Product for the first quarter was 6.4%, beating expectations. However, the dollar was unable to take advantage of the encouraging headline, instead coming under pressure from risk appetite. Wall Street suffered an intraday setback, with […]