Vietnam and the European Union signed a free trade deal reducing tariffs on goods of 99 percent traded between the southeastern state and the Union. The deal will boost Vietnams economy by around 5 percent until 2024-2028.
The US-China trade war is already having a negative impact on the global economy. If Donald Trump and Xi Jinping cannot agree to new terms at the G20 Summit, it will affect everyone.
Mexican President Andrés Manuel López Obrador said in a recorded message that the vote was "very good news."
The new duties take effect from Sunday, a government notification said, in the latest trade row since US President Donald Trump took office in 2017 vowing to act against countries with which Washington has a large trade deficit.
If US President Donald Trump is not satisfied with Mexico's efforts to crack down on immigration, the tariff will increase to 10 percent on July 1, 15 percent on August 1, 20 percent on September 1 and 25 percent on October 1, the White House says.
US President Donald Trump removes import taxes on Canadian and Mexican steel and aluminum but delays auto tariffs that would have hurt Japan and Europe.
The world’s two biggest economies are nine months into a trade war that has cost billions of dollars, roiled financial markets and upended supply chains.
The US wants to tax $11.2 billion worth of EU goods from jets to Cheese. The US tariff wish-list reflects Trump administration's calculation of the harm EU subsidies have inflicted on the US
Chinese state television said, "no additional tariffs will be imposed after January 1" while Chinese President Xi Jinping told Trump that only through cooperation could the United States and China serve the interest of peace and prosperity.
The World Trade Organization, the watchdog of global commerce, has fallen victim to Trump's trade war on economic rival China and the United States has put pressure on the WTO itself to reform.
For the first time in 25 years, the member countries of the Asia-Pacific Economic Cooperation (APEC) failed to make a joint statement on Sunday under the shadow of US and China trade war.
The world's largest trade deal, also called RCEP, is pushed back to next year as trade ministers of Asia-Pacific countries fail to agree key terms at a summit, ahead of ASEAN meeting, in Singapore.
Subscribe to our Youtube channel for all latest in-depth, on the ground reporting from around the world.
Copyright © 2022 TRT World.