China balks at US tire pressure, but 2 economies need each other; wider trade war unlikelyWASHINGTON — China’s complaint Monday over new U.S. tariffs on Chinese tires raised pressure on Washington but isn’t likely to incite a full-blown trade war. Each side knows its economy has too much to lose. Shares of US tire makers surge after Obama administration slaps tariffs on Chinese tiresNEW YORK — Shares of U.S. tire makers surged Monday after a decision last week by the Obama administration to impose higher tariffs for three years on Chinese tires. World stocks drop as investors worry about potential impact of US-China trade disputeLONDON — European stocks closed flat Monday with investor worries about a trade dispute between the U.S. and China holding markets back. Asian stocks fell. Obama, speaking of China, says no trading system will work if trade agreements aren’t enforcedNEW YORK — President Barack Obama is defending his decision to impose punitive tariffs on imported Chinese tires. Major indexes trade mixed, trimming early losses from unease about US-China trade disputeNEW YORK — Investors funneled money into industrials and pulled it from financial and technology stocks as they looked for signals on the economy. Major indexes fall in early dealings amid concerns about US-China trade disputeNEW YORK — Stocks fell in morning trading Monday amid concerns about a growing trade dispute between the U.S. and China. Report: Beijing files WTO case over Washington’s tire tariffs in latest trade disputeBEIJING — As Beijing launched a case Monday against new U.S. tariffs on Chinese tires, President Barack Obama defended the duties, saying trading agreements must be enforced in order for trading systems to work. Beijing calls for talks with Washington in World Trade Organization over tire tariffsBEIJING — China accused Washington on Monday of violating World Trade Organization rules by raising tariffs on Chinese tires and demanded talks in the WTO on the latest and most acrimonious in a string of trade disputes. Chevron announces Gorgon gas field will go ahead off northwest AustraliaCANBERRA, Australia — Energy giant Chevron announced on Monday that the Gorgon gas field, one of the world’s largest, will be developed off northwest Australia with export contracts already signed with China, India, Japan and South Korea. US says trade penalties on Chinese fair, Beijing says could sour ties between nationsWASHINGTON — President Barack Obama’s decision to impose trade penalties on Chinese tires has infuriated Beijing at a time when the U.S. badly needs Chinese help on climate change, nuclear standoffs with Iran and North Korea and the global economy. Champagne and slums: In West Africa’s oil giant, the rich-poor gap is a chasmLAGOS, Nigeria — The waiter at Caliente bar sticks a sparkler into yet another bottle of champagne and hits a siren mounted behind the bar to draw everyone’s attention to the sleek Nigerian businessmen who ordered it. New US trade penalties on Chinese tires infuriates Beijing, could sour ties between nationsWASHINGTON — President Barack Obama’s decision to impose trade penalties on Chinese tires has infuriated Beijing at a time when the U.S. badly needs Chinese help on climate change, nuclear standoffs with Iran and North Korea and the global economy. Obama imposes tariffs on Chinese tires; Beijing calls move ‘protectionism’WASHINGTON — President Barack Obama has imposed new punitive tariffs on all car and light truck tires coming into the U.S. from China, a move Beijing condemned Saturday as protectionism and a violation of the guidelines of global trade. Obama decides to impose tariffs on Chinese tire imports for 3 yearsWASHINGTON — President Barack Obama on Friday slapped punitive tariffs on all car and light truck tires entering the United States from China in a decision that could anger the strategically important Asian powerhouse but placate union supporters important to his health care push at home. Obama faces balancing act among politics, diplomacy and labor on China tire duty caseWASHINGTON — President Barack Obama faces a tough choice as he nears a deadline on whether to slap tariffs on a flood of Chinese tires entering the United States: Imposing duties could antagonize strategically important China; not doing so would anger Obama’s union allies. Gaza’s Coke smugglers: Residents find creative solutions to mark RamadanGAZA CITY, Gaza Strip — Gazans have been learning to adapt to Hamas rule and a stifling border blockade, both now in their third year. But their skills of improvisation are particularly challenged during the holy month of Ramadan, when devout Muslims fast from dawn to dusk. China’s exports, trade surplus weaken in August, despite signs of recovering demandSHANGHAI — China’s exports languished in August, contracting 23 percent, increasing the onus on Beijing’s massive stimulus spending to drive an economic recovery. China’s industrial output, investment, retail sales higher, as stimulus spending fuels demandSHANGHAI — China’s recovery gained momentum in August as stimulus spending helped boost industrial output, investment and retail sales in the world’s third-largest economy, offsetting a slump in exports. Summary Box: Improving economy lifts imports, exports and trade deficitWHAT HAPPENED?: The trade deficit rose to $32 billion in July, the highest in six months. Imports jumped 4.7 percent, the largest monthly increase on records dating from 1992. Exports rose for the third straight month. Trade deficit grows, but growth in imports and exports shows demand rising as recession fadesWASHINGTON — The ending of the recession is reviving global trade, increasing U.S. imports by a record amount in July and boosting foreign demand for American goods for a third straight month. European stocks drop before Wall Street open as boost from US recovery hopes fadesLONDON — European stocks lost earlier gains ahead of expected losses on Wall Street on Thursday as enthusiasm over an upbeat Federal Reserve survey, which helped Asian markets rise, faded amid concerns that stocks are overvalued. Jump in imports of oil and autos pushes July trade deficit up to highest amount in 6 monthsWASHINGTON — The U.S. trade deficit shot up in July to the highest level in six months as a surge in shipments of foreign oil and autos pushed imports up by a record amount. World stock markets rise as Fed report boosts US economic recovery hopesLONDON — European and Asian stocks rose Thursday and Wall Street was expected to gain at the open after a Federal Reserve report boosted hopes the U.S. economy is recovering steadily. Oil extends gains on weakening dollar as investors eye OPEC meetingOil prices finished higher for a second straight day Wednesday on continued weakening of the U.S. dollar and as investors awaited the outcome of an OPEC meeting that is expected to result in no change in production levels. Oil continues to push higher on weakening dollar as investors eye OPEC meetingOil prices pushed higher for a second straight day Wednesday on continued weakening of the U.S. dollar and as investors awaited the outcome of an OPEC meeting that is expected to result in no change in production levels. EADS chief favors negotiated settlement in trade dispute over Boeing and Airbus subsidiesPARIS — The head of Airbus’ parent company says the European jet maker did nothing wrong in a trade dispute with the U.S. over government subsidies, and called for a negotiated settlement with archrival Boeing Co. With world awash in crude, OPEC focuses on tougher compliance with its production targetsVIENNA — OPEC appeared poised to hold oil production quotas unchanged Wednesday, with its ministers voicing satisfaction with current global crude prices. German exports up 2.3 percent on the month in July; industrial production down 0.9 percentFRANKFURT — German exports were up 2.3 percent on the month in July, showing their third consecutive monthly improvement, though industrial production fell 0.9 percent for the month, official data showed Tuesday. Smithfield Foods posts bigger fiscal 1st-quarter loss on hefty chargesMILWAUKEE — The nation’s largest pork producer, Smithfield Foods Inc. said Tuesday it posted a bigger first-quarter loss as one-time charges and lower domestic hog prices hurt results, despite curtailed production. Japan’s current account surplus down 19.4 percent in July; auto and steel exports plungeTOKYO — Japan’s current account surplus in July fell 19.4 percent from a year earlier as exports tumbled amid a slow recovery in the global economy, the finance ministry said Tuesday. |
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