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US threatens more Turkey sanctions if pastor not freed

  The US warned it would levy more sanctions on the troubled Turkish economy if Ankara does not soon release a jailed American pastor described by President Donald Trump as a “hostage”.  Deepening a spat that has rattled financial markets and threatens to split a long-standing defense and political alliance, […]

Turkey slaps retaliatory tariffs on key US goods, escalates feud

Turkey doubled tariffs on some US imports including alcohol, cars, and tobacco yesterday in retaliation for US moves, but the lira rallied further after the central bank’s liquidity moves had the effect of supporting the currency.  The currency has lost nearly 40% against the dollar this year, driven by worries […]

China blasts US solar tariffs, takes WTO action

China has blasted US tariffs on solar panel imports, filing a complaint at the World Trade Organization. US President Donald Trump approved steep tariffs on solar panel imports in January to protect US producers, triggering an outcry from China, South Korea and even protests from the US solar industry.  China’s […]

A year after Doklam, China continues to bait India on the border

China continues to needle India at different stretches along the 4,057-km Line of Actual Control (LAC), with People’s Liberation Army troops intruding around 300-400 meters inside the Demchok sector of eastern Ladakh and pitching five tents there in the latest such incident last month.  Security establishment sources said the PLA […]

Trump’s National Security Claim for Tariffs Sets Off Crisis at W.T.O.

President Trump’s embrace of sweeping tariffs has frustrated allies, lawmakers, and businesses across the globe. But its most lasting impact could be to hobble the World Trade Organization. The global trade group has been thrust into an uncomfortable — and potentially damaging — role as a chief judge in an […]

Donald Trump escalates feud with Turkey, imposing higher metals tariffs

U.S. President Donald Trump intensified his spat with Turkey on Friday by imposing higher tariffs on metal imports, putting unprecedented economic pressure on a NATO ally and deepening turmoil in Turkish financial markets.  Criticizing the state of the U.S. relationship with Ankara, Trump announced that he had authorized a doubling […]

Trump praises Mexico, threatens Canada with auto tariffs

President Donald Trump yesterday said that a trade deal with Mexico is “coming along nicely.” But he threatened Canada with auto tariffs if the U.S. and Canada can’t forge a deal. Trump appeared to be referring to efforts to renegotiate the North American Free Trade Agreement between the U.S., Mexico, and […]

Gold prices buoyed by global political tensions

Gold prices held broadly steady early today after dipping the session before, drawing some support from global political tensions and a slightly weaker dollar against the yen.  US gold futures were largely steady at around $1,219 an ounce. The US dollar was down 0.2 percent at 110.84 yen.   Japan’s economy expanded […]

Chinese exports accelerate even as Donald Trump escalates trade war

China’s exports surged more than expected in July despite U.S. duties and its closely watched surplus with the United States remained near record highs, as the world’s two major economic powers ramp up a bitter dispute that some fear could derail global growth.  In a statement on its official website, China’s […]

Malaysia shuts down Saudi-backed anti-terrorism center

Malaysia’s new government has shut down a Saudi-backed anti-terrorism center which was launched by the kingdom’s ruling monarch during a visit to Malaysia. Defense Minister Mohamad Sabu said that the King Salman Center for International Peace will cease operation immediately and that its function will be absorbed by the Malaysian Institute […]