Global markets are finally getting spooked by Trump’s trade war

July 21, 2018

Getty Images / Mario Tama Global markets are once again worried about the impact of Trump’s trade war. Chinese stocks dropped sharply overnight, with losses then spreading to Europe. Major indexes on the continent are seeing losses of more than 1%. US Futures are also pointing lower, with the Nasdaq set to lose 1% at the opening bell. You can follow global market developments at Markets Insider. The escalation of…

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What the World Trade Organization actually is and why it would matter if the US leaves it

July 18, 2018

The World Trade Organization (WTO) was established in 1995, a 50-year effort to secure rules-based trade so that harsh trade restrictions could not prevent countries from a global economy. This enabled countries to grow faster and steadier and brought peace and prosperity to Europe and Japan. Trump has reportedly considered suspending US compliance with the WTO. If the US were to leave the WTO, other countries could freely raise tariffs against it….

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The Trump administration reportedly drafted a bill to abandon key World Trade Organization rules

July 15, 2018

Associated Press/Evan Vucci The Trump administration has reportedly drafted a bill that would abandon the US’ commitment to the World Trade Organization’s rules. Trump has recently been angling to withdraw the US from the WTO altogether — though Congress is unlikely to approve such a measure. Administration officials involved in drafting the legislation told Axios it was “insane.” The Trump administration has drafted legislation that would empower the president to…

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US businesses and consumers could be the ‘prisoners’ of Trump’s trade fight with China

July 13, 2018

Getty Images/Pool A trade war has been brewing between the US and China. The White House has said the US would have an edge over China in a trade war. But economists think China has more room to negotiate.  The White House has asserted the US has the whip hand in a tariff fight between the world’s largest economies — with a senior economic adviser saying “it’s clear China has…

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Trump’s burgeoning trade war with China is already affecting car manufacturers in the US

July 10, 2018

Mercedes-Benz Daimler, the parent company of Mercedes-Benz, said profit would fall in 2018 as new import tariffs on cars exported from the United States to China. The company said the tariffs would hurt sales of high-margin Mercedes-Benz sports utility vehicles. Daimler’s revised forecast comes as U.S. President Donald Trump is proposing to impose tariffs on imported vehicles on grounds that trade imbalances on many products threaten U.S. national security. He is separately…

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