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February 19, 2020
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Reuters - Business

Hormel joins Tyson Foods, JBS in removing drug banned by China from hog supply

Reuters
CHICAGO (Reuters) – Spam-maker Hormel Foods Corp (HRL.N) is eliminating a growth drug banned by China from its hog supply, the company said on Tuesday, joining rivals that are seeking to increase meat sales to Chinese buyers grappling with a pork shortage. FILE PHOTO: The company logo for Hormel Foods......
Reuters - Business

Trump blasts proposed U.S. restrictions on sale of jet parts to China

Reuters
WASHINGTON (Reuters) – President Donald Trump objected on Tuesday to U.S. proposals that would prevent companies from supplying jet engines and other components to China’s aviation industry and suggested he had instructed his administration not to implement them. FILE PHOTO: Chinese Vice Premier Liu He and U.S. President Donald Trump......
Reuters - Business

Trump blasts proposed restrictions on selling U.S. jet parts to China

Reuters
WASHINGTON (Reuters) – U.S. President Donald Trump on Tuesday blasted proposals that could restrict U.S. companies’ ability to supply jet engines and other components to China’s aviation industry and said he had instructed his administration to prevent such moves. FILE PHOTO: Chinese Vice Premier Liu He and U.S. President Donald......
Reuters - Business

China to grant tariff exemptions on 696 U.S. goods to support purchases

Reuters
BEIJING (Reuters) – China will grant exemptions on retaliatory duties imposed against 696 U.S. goods, the most substantial tariff relief to be offered so far, as Beijing seeks to fulfill commitments made in its interim trade deal with the United States. FILE PHOTO: A Benjamin Franklin U.S. 100 dollar banknote......
Reuters - Business

China to grant tariff exemptions on additional U.S. goods

Reuters
FILE PHOTO: A Benjamin Franklin U.S. 100 dollar banknote and a Chinese 100 yuan banknote with late Chinese Chairman Mao Zedong are seen in this picture illustration in Beijing, China, January 21, 2016. REUTERS/Jason Lee/File Photo BEIJING (Reuters) – China said on Tuesday it would accept applications for new tariff......
Reuters - Business

U.S. mulls cutting Huawei off from global chip suppliers, with TSMC in crosshairs

Reuters
WASHINGTON (Reuters) – The Trump administration is considering changing U.S. regulations to allow it to block shipments of chips to Huawei Technologies from companies such as Taiwan’s TSMC (2330.TW), the world’s largest contract chipmaker, two sources familiar with the matter said. FILE PHOTO: The Huawei booth is shown during the......
Reuters - Business

Euro zone ministers discuss fiscal boost options as virus worries weigh

Reuters
BRUSSELS (Reuters) – Euro zone finance ministers discussed ways to pursue a more growth-friendly fiscal policy mix on Monday, in a potential nudge to Germany and the Netherlands to spend more as fears of a downturn grow in the wake of the coronavirus epidemic. European Central Bank President Christine Lagarde......
Reuters - Business

EU industry chief warns of more onerous tech rules by year end

Reuters
BRUSSELS (Reuters) – The European Union will decide by the end of the year whether to impose rules reining in the market power of U.S. tech giants, the bloc’s industry chief said on Monday as he criticised Facebook’s proposals as insufficient to address EU concerns. The comments by EU industry......
Reuters - Business

WTO gives somber outlook for global trade, sees virus threat

Reuters
A traffic light is turned red in front of the WTO headquarters in Geneva, Switzerland, December 10, 2019. REUTERS/Denis Balibouse BRUSSELS (Reuters) – Growth of global trade in goods is likely to remain weak in early 2020, the World Trade Organization (WTO) said on Monday, adding that the below-trend performance......
Reuters - Business

Japan on brink of recession as economy contracts, virus heightens risk

Reuters
TOKYO (Reuters) – Japan’s economy shrank at the fastest pace in almost six years in the December quarter as a sales tax hike hit consumer and business spending, raising the risk of a recession as China’s coronavirus outbreak chills global activity. Analysts say the widening fallout from the epidemic, which......
Reuters - Business

Japan’s recession risks grow as economy skids in fourth-quarter, virus clouds outlook

Reuters
TOKYO (Reuters) – Japan’s economy shrank at the fastest pace in almost six years in the December quarter as last year’s sales tax hike hit consumer and business spending, highlighting a fragile outlook made worse by growing coronavirus risks. FILE PHOTO: Newly manufactured cars of the automobile maker Subaru await......
Reuters - Business

U.S. weighs blocking GE engine sales for China’s new airplane: sources

Reuters
(Reuters) – The U.S. government is considering whether to stop General Electric Co (GE.N) from continuing to supply engines for a new Chinese passenger jet, according to people familiar with the matter, casting uncertainty over China’s efforts to enter the civil aviation market. FILE PHOTO: A traffic light is seen......
Reuters - Business

From wind power to cow manure: oil traders seek new profit recipe

Reuters
LONDON (Reuters) – The world’s largest oil traders are pouring hundreds of millions of dollars into climate-friendly projects – including wind farms, cow manure plants and blue hydrogen – as they seek to match the profits they make from trading oil. FILE PHOTO: A wind farm is shown in Movave,......
Reuters - Business

Huawei cyber security chief says no operator gives it access to intercept equipment

Reuters
LONDON (Reuters) – Huawei’s cyber security chief said on Friday that he was not aware of any mobile operator ever having given the Chinese company access to the equipment used to intercept calls when required to do so by security services. FILE PHOTO: The Huawei logo is seen on a......
Reuters - Business

Airbus regrets U.S. tariffs, hopes for change when WTO authorizes EU retaliation

Reuters
FILE PHOTO: The logo of Airbus is pictured at the aircraft builder’s headquarters of Airbus in Colomiers near Toulouse, France, November 15, 2019. REUTERS/Regis Duvignau/File Photo GLOBAL BUSINESS WEEK AHEAD PARIS (Reuters) – European aerospace group Airbus (AIR.PA) said on Saturday it deeply regretted the U.S. decision to increase tariffs......
Reuters - Business

U.S. raises tariffs on European aircraft in ongoing dispute over subsidies

Reuters
WASHINGTON (Reuters) – The U.S. government on Friday said it would increase tariffs on aircraft imported from the European Union to 15% from 10%, ratcheting up pressure on Brussels in a nearly 16-year transatlantic dispute over aircraft subsidies. FILE PHOTO: The logo of Airbus is pictured at the aircraft builder’s......
Reuters - Business

Timeline: Highlights of the 16-year Airbus, Boeing trade war

Reuters
(Reuters) – The U.S. government on Friday raised tariffs on aircraft imported from the European Union, ratcheting up pressure on the EU to resolve an epic 16-year-old dispute over support for airplane makers, and raising the stakes in broader talks to reach a U.S.-EU trade deal. FILE PHOTO – Invited......
Reuters - Business

U.S. firm wins reprieve from expanded duties on steel products

Reuters
FILE PHOTO – U.S. President Donald Trump speaks about trade at the Granite City Works steel coil warehouse in Granite City, Illinois, U.S., July 26, 2018. REUTERS/Joshua Roberts WASHINGTON (Reuters) – The U.S. Court of International Trade has issued a temporary order under which U.S. customs agents cannot collect duties......
Reuters - Business

Airbus says higher U.S. tariffs on EU planes will harm U.S. airlines, consumers

Reuters
FILE PHOTO: The Airbus logo is pictured at Airbus headquarters in Blagnac near Toulouse, France, March 20, 2019. REUTERS/Regis Duvignau/File Photo WASHINGTON (Reuters) – The U.S. government’s decision to raise tariffs on European-built aircraft will hit U.S. airlines already facing a shortage of aircraft and complicate efforts to reach a......
Reuters - Business

Injured by China’s trade practices? Call 202-395-3900, USTR says

Reuters
WASHINGTON (Reuters) – The U.S. Trade Representative’s office said on Friday it has established a dispute resolution office and complaint hotline to enforce President Donald Trump’s “Phase 1” trade deal with China, which takes effect on Saturday. FILE PHOTO: Chinese Vice Premier Liu He and U.S. President Donald Trump sign......

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