Tag

Global Trade

All articles tagged with #global trade

energy8 days ago•5 min saved

Canada plots Asia-bound oil pipeline to curb US dependence

Canada unveiled a plan for a more-than-1,000-km west‑coast oil pipeline from Alberta to British Columbia to export up to 1 million barrels per day to Asia, using the existing Trans Mountain corridor. Built by Trans Mountain Corp with Pembina Pipeline, the project aims for ground‑breaking by 2027 and could attract over C$200 billion in direct investment while expanding LNG terminals and upgrading the Vancouver port. Ottawa says the pipeline would diversify Canada’s energy exports away from the US, which currently buys the bulk of Canadian oil, but the plan faces environmental, Indigenous and regional political concerns, including an Alberta independence referendum in the works.

via Financial Times|

#asia #canada #energy

economics14 days ago•31 min saved

China Says EU Trade Freeze Can Be Weathered, CCTV Account Claims

China asserts it can endure a further deterioration or even a freeze in EU trade, via a CCTV-affiliated account that argues the EU altered tactics after an EV-subsidy probe and is weakening its normative power. EU Trade Commissioner Maros Sefcovic plans talks with Chinese minister Wang Wentao in Brussels amid a roughly €360 billion trade gap and concerns over subsidized Chinese imports, while China says firms are deprioritizing Europe even as investments in NEVs and automotive continue—leaving the outlook for deeper cooperation uncertain if the EU keeps a hard line.

via Bloomberg.com|

#automotive #china #economics

us-politics-and-policy1 month ago•5 min saved

Trump reins in new tariffs push after court blocks emergency levies

Trump’s aides are re-launching a broad tariff drive using older laws after the Supreme Court blocked emergency levies, proposing 25% duties on Brazil, a Vietnam probe, and 10–12.5% duties on more than 60 countries over forced-labor rules, plus investigations into industrial overcapacity and subsidies and a China policy board inviting input. The plan aims for durability under Section 122/301 rules, with a late‑July deadline to keep Levies in place, though it faces potential legal challenges; some relief is offered by cutting farm‑equipment tariffs to 15% from 25% as inflation and midterm politics loom.

via Financial Times|

#global-trade #trade-disputes #trump-tariffs

world1 month ago•65 min saved

Geoeconomics Reimagined: Balancing Power, Trade, and Global Cooperation

Geoeconomics is evolving from a theoretical concept into a central tool of statecraft, as nations mix security with economic policy. The IMF argues for a balanced approach—targeted, limited interventions and resilient supply chains—while preserving globalization and multilateral cooperation to prevent fragmentation and costly trade tensions.

via International Monetary Fund | IMF|

#economic-statecraft #geoeconomics #global-trade

economy1 month ago•4 min saved

OECD flags state subsidies as key driver of China's market-share surge

An OECD analysis finds subsidized Chinese firms have driven roughly 60% of their global market-share gains since 2005, with 2024 support for Chinese companies running eight times higher on average than OECD peers. Subsidies across 15 sectors propelled rapid gains in autos, shipbuilding, solar and especially semiconductors (Chinese firms’ subsidies reached about 10% of revenue in 2021–22). The MAGIC database tracks 525 large firms and shows global subsidies at $108bn in 2024, with 52% in China. Much of Chinese support comes as below-market loans, enabling cheap funding even for weaker firms, but the OECD warns subsidies boost market share without improving productivity or profitability, risking distortion and prompting calls for greater transparency and policy tools like tariffs or quotas.

via Financial Times|

#china #economy #global-trade

world1 month ago•6 min saved

US biotech dependence on China sparks security fears

Patents expiring for top drugs push Western pharma to partner with Chinese biotech firms, with Pfizer paying up to $650 million for Innovent and Bristol Myers Squibb tying up with Hengrui for up to $950 million, signaling a surge of US investment in Chinese biotech. Lawmakers are weighing tighter national-security rules as the USITC probes potential Chinese state backing, while investors remain divided on the implications for US drug development and global supply chains.

via Financial Times|

#biotech #global-trade #pharmaceuticals-sector

business1 month ago•13 min saved

China's factories cool in May, signaling slower manufacturing

China’s factory activity slowed in May, signaling cooling momentum in the manufacturing sector amid softer demand for exports and slower domestic activity.

via AP News|

#business #china #economy

world1 month ago•4 min saved

Hormuz Crisis Casts Spotlight on Malacca Strait's Trade Lifeline

As the Hormuz crisis persists, analysts warn a future U.S.–China clash could unfold in Southeast Asia’s Strait of Malacca, a pivotal and congested waterway that handles a large share of global trade. The piece explains potential disruption routes and detours, the governance framework among Singapore, Malaysia, Indonesia, and Thailand, and how UNCLOS underpins free transit, while highlighting growing regional defense ties as nations seek to keep Malacca open amid rising geopolitics.

via NBC News|

#global-trade #hormuz-crisis #maritime-security

world2 months ago•5 min saved

Time running out to counter China’s rising grip on global supply chains

The US Chamber of Commerce warns governments have a finite window to push back against China’s state-led industrial policies, which deepen dependence on Chinese supply chains and boost Beijing’s global influence. A Rhodium Group report for the chamber highlights China’s shift from low-cost manufacturing to high-tech production (including robotics) and a broader industrial-policy push, signaling a potential reordering of global trade that policymakers must address soon to protect advanced economies’ competitive edge.

via Financial Times|

#china #global-trade #industrial-policy

world2 months ago•4 min saved

China’s export surge persists ahead of Xi–Trump summit

China’s exports rose 14.1% year over year in April, beating forecasts and signaling robust manufacturing ahead of the Xi–Trump summit; imports climbed 25.3%, pushing the trade surplus to about $84.8 billion, as high‑end electronics and machinery lead export growth and tariffs appear not to have slowed China’s export engine.

via Financial Times|

#chinese-exports #global-trade #trump-tariffs

business2 months ago•3 min saved

Court rules Trump’s 10% global tariffs illegal in key setback for trade policy

A US Court of International Trade ruled that Donald Trump’s 10% global tariffs imposed under Section 122 of the Trade Act of 1974 were unauthorized by law, applying only to the two companies in the case and not suspended broadly. The decision adds to legal headwinds against his trade agenda and hinges on whether balance-of-payments deficits are the same as a trade deficit. The White House did not comment, while ongoing Section 301 investigations could lead to new duties, with the baseline tariff set to expire in late July.

via Financial Times|

#balance-of-payments-deficits #business #court-of-international-trade

asia-pacific-economy2 months ago•4 min saved

Small economies seal world's first essential-supplies pact to keep trade flowing

Singapore and New Zealand signed the world's first bilateral Agreement on Trade in Essential Supplies, pledging not to restrict trade in essentials (food, fuel, chemicals, construction, healthcare) and to keep air and sea routes open to sustain energy and goods flows amid Middle East tensions; the leaders urged others to adopt similar safeguards to bolster global supply chains, noting NZ's reliance on Singapore for around a third of its fuel imports.

via Financial Times|

#asia-pacific-economy #global-trade #new-zealand

world2 months ago•4 min saved

Trump presses 25% tariff on EU cars unless US production rises

President Donald Trump said he will impose a 25% tariff on EU cars and trucks entering the United States next week unless European manufacturers move production to U.S. plants; shipments manufactured in the United States would face no tariff. The move upends last year's trade deal reducing tariffs on many EU imports and heightens transatlantic tensions, drawing warnings from EU officials and automakers about potential damage to the European auto industry.

via Financial Times|

#automobiles #global-trade #trade-disputes

world2 months ago•4 min saved

China warns EU over 'Made in Europe' plan, vows countermeasures

China warned the EU it will take countermeasures if its proposed Industrial Accelerator Act—dubbed the Made in Europe plan—hurts Chinese companies, arguing the law discriminates against Chinese investors and contradicts market rules. The EU aims to boost manufacturing’s share of GDP to 20% by 2035 and would restrict foreign investments above €100 million from countries with a large share of global production in strategic sectors, requiring EU worker dominance (at least 50%), local manufacturing involvement, and mandatory technology transfer. Beijing urged dialogue but signalled it could respond if Brussels ignores its objections, highlighting ongoing tensions in EU–China trade as Washington and Beijing negotiate their truce.

via Financial Times|

#eu-china-relations #foreign-direct-investment #global-trade

world3 months ago•8 min saved

Iran plots paid passage regime for the Strait of Hormuz

Iran seeks an “approved passage” system through the Strait of Hormuz, charging fees and allowing only “non-hostile” vessels to pass, a regime Tehran says could endure beyond the current war and US-Israeli actions. Reports estimate ships paying up to around $2 million for safe passage, raising questions about sovereignty, international law, and the impact on global shipping and trade as reliance on the strait persists and routes consider alternatives.

via Financial Times|

#global-trade #iran #middle-east-war