Trade War Watch: Turkey Readies 120 Percent Tariff On American Cars

In Joseph Conrad’s Heart of Darkness, Kurtz has an epiphany regarding himself, imperial conquest, and war as a whole, crying “The horror! The horror!” in his last moments of life. His experiences took him from a well-meaning businessman to a megalomaniacal warlord, only able to realize the full scope of his own corruption upon his death. […]

Russia proposes deal with Turkey to ditch US dollar for lira-ruble trade amid currency crisis

Moscow is still interested in trading with Ankara using the Russian ruble and Turkish lira, according to the Kremlin. Both currencies have been falling against the greenback, with lira setting new record lows every day. “The issue of using national currencies in bilateral trade operations is a topic that has been raised by the Russian […]

Russia may ditch dollar in oil trade as it is too risky – finance minister

The US dollar is not a reliable tool for payments in international trade, Russian Finance Minister Anton Siluanov told Russian media. Payments in national currencies might be used instead, he said. In an interview to Rossiya 1 TV, the finance minister expressed doubt that the internationally recognized currency is reliable. Siluanov also said he does […]

Trade War Watch: American-Made Mercedes-Benz SUVs Held Up at Chinese Ports Over ‘Safety Risk’

Mercedes-Benz sport-utility vehicles assembled in Tuscaloosa, Alabama, are being checked for potential problems by Chinese customs authorities in Shanghai, according to the nation’s media. The situation was later confirmed by Daimler AG on Thursday. Officially, custom agents discovered the imported GLE and GLS models possess “insufficient” rear brakes and pose a safety risk. However, this […]

Is China losing the trade war against America?

WHEN Donald Trump tweeted on August 5th that tariffs were working “big time”, American media sprang into action to test the claim (see article). In China, editors were more circumspect. No major Chinese-language newspaper reported his tweets. One of his claims—that China’s stockmarket has fallen 27% in the past four months—was an exaggeration. But why […]

Could Trump's Trade War Take a Bite Out of Apple?

A better than expected quarterly result for Apple boosted shares in its Asia-based suppliers on Wednesday. The company became the world’s first to be valued at $ 1 trillion. But analysts say the reprieve may be shortlived amid the escalating trade war between the U.S. and China. Asia-listed companies supplying key parts for Apple broadly […]

On anniversary of his trade, Gretzky more focused on hockey's future

On the eve of the 30th anniversary of his stunning trade from the Edmonton Oilers to the Los Angeles Kings on Aug. 9 1988, Wayne Gretzky was more focused on the future of hockey than his own past. Holding a press conference in support of the Hlinka Gretzky Cup under-18 hockey tournament in Edmonton, the […]

China vows to maintain trade with Iran, ignoring ‘with us or against us’ threats from US

Washington’s unilateral anti-Iran campaign has nothing to do with international law and fair trade, and thus the threat of potential sanctions won’t affect Beijing’s sovereign right to freely choose its business partners. “China’s commercial cooperation with Iran is open and transparent, reasonable, fair and lawful, not violating any United Nations Security Council resolutions,” the Chinese […]

Trump says anyone trading with Iran will not trade with US as sanctions come into force

US President Donald Trump has warned that any country trading with Iran will “not be doing business with the United States.” The threat comes as sanctions against the country came into effect at midnight. READ MORE: Rouhani blasts Trump’s ‘psychological warfare’ as Iran braces for US sanctions The announcement came via the president’s usual medium of […]

Saudi Arabia has expelled the Canadian ambassador and is freezing new trade with the country in an escalating feud over human rights

Getty Images/Business Insider Saudi Arabia has expelled Canada’s ambassador and frozen all new trade and investment with Ottawa over an escalating dispute centered on jailed human rights activists. The feud appears to have begun on Friday, when Global Affairs Canada tweeted that it was “gravely concerned” about a new wave of arrests in the Kingdom targeting […]