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US sanctions helped Russia to boost oil exports

Exports of Russian crude surged last year, with shipments to the US increasing threefold, as Washington tightened sanctions against a number of countries, the Russian Ministry of Economic Development has said. The volume of Russian oil exports was up 3.9 percent, according to customs data for January-November 2019. In a note, seen by business outlet RBC, the ministry said that ... Read More »

Amid Trump’s showdown with Iran, an ugly part of US history is reemerging

A surge of attempts to silence legitimate and thoughtful foreign policy criticism has reached new depths, impugning the loyalty of those who happen to have policy differences with those doing the impugning. The resulting damage is not just to individual reputations, but also to freedom of speech and to the care and wisdom that should be applied to the formulation ... Read More »

US customs rules electric bicycles are motorcycles, granting tariff exclusion

In the latest twist in the ongoing saga of Trump’s trade war with China, US Customs and Border Protection has excluded imported Chinese electric bicycles from the 25% tariffs originally imposed by the Trump Administration. But the way they did it comes as a bit of a surprise. The Trump Administration had previously granted an exclusion to the Section 301 ... Read More »

Using Huawei in UK 5G network ‘madness’, says US

The US has warned the British government it “would be madness” to use Huawei technology in the UK’s 5G network. A US delegation presented the UK with new evidence claiming to show security risks posed by using the Chinese firm. US President Donald Trump has sought to pressure Prime Minister Boris Johnson on the issue. A decision is expected this ... Read More »

$470 million worth of fake Nikes get into the US

An international counterfeiting ring shipped hundreds of millions of dollars worth of counterfeit sneakers to the United States using an elaborate web of fictitious company names, bogus paperwork, phony email addresses, and burner phones. That’s according to a now-unsealed federal complaint, which says the fake Nike and Louis Vuitton footwear would be worth more than $472 million if it were ... Read More »

US Bank Business Loans Stalled In Latter Half Of 2019

U.S. business loans and capital investment have essentially plateaued in the second half of 2019, in what experts say is a reflection of the slowing industrial economy. The industrial slowdown crippled markets and made way for big businesses to take advantage of cheap financing deals that were available. While there was growth in commercial and industrial loans of 1.6 percent ... Read More »

Russian Companies Interested In Working With Iran Regardless Of US Sanctions

TEHRAN : Russian companies are interested in working with Iran on various projects in such sectors of the economy as energy, agriculture, automobile manufacturing and many others despite the punitive US sanctions against Tehran, Rustam Zhiganshin, Russia’s trade representative in Iran, told Sputnik. In May 2018, the United States began the process of reimposing previously lifted sanctions on Tehran after ... Read More »

Vaccination inaction is dereliction of duty by U.S. Customs and Border Protection.

The surge of influenza outbreaks in Minnesota schools this month is an alarming reminder of how quickly this virus can spread in places where people are gathered. During the first week of December, 14 schools around the state reported outbreaks, meaning 5% absenteeism or higher. A week later, the number of schools reporting this level of illness increased to 60. ... Read More »

China announces new tariff exemptions for US chemical and oil products

China on Thursday unveiled a new list of import tariff exemptions for six chemical and oil products from the United States, days after the world’s two largest economies announced a phase one trade deal. The exemptions will be for one year from Dec. 26, the Finance Ministry said, without providing a value for the imports excluded from duties. Duties already ... Read More »

U.S. business debt surpasses households’

U.S. business debt exceeded that of households for the first time since 1991, a potential warning sign for the economy as corporate investment softens. Nonfinancial companies boosted debt at a faster 5.7% annual pace in the third quarter to a total outstanding $15.987 trillion, while household borrowing slowed to a 3.3% rise to reach $15.986 trillion, Federal Reserve data showed ... Read More »

China Soy Imports Rise to Three-Month High as U.S. Cargoes Cleared

Soybean imports by China rose to the highest level in three months after port congestion eased and more American beans cleared customs. China bought 8.28 million tons last month, the most since August, according to customs data released on Sunday. That’s up 34% from October and 54% from a year ago. Imports from January to November fell 4.1% from a ... Read More »

China working on waiving tariffs on some imports of US soybeans, pork

New Delhi : China is looking to implement tariff waivers on some purchases of soybeans and pork from the US, China’s Customs Tariff Commission of the State Council announced Friday. However, this may not mean a rise in purchases from the US, sources told S&P Global Platts. China in 2018 imposed retaliatory tariffs on several import items from the US, ... Read More »

Russia-US Trade Up 5.2% Year-on-Year To $21.6Bln In January-October

MOSCOW : The trade between Russia and the United States from January to October has increased by 5.2 percent when compared to the same period last year, totaling $21.638 billion, freshly published statistical data by the Russian Federal Customs Service showed on Thursday. The US has accounted for 4 percent of Russian trade in the given period as opposed to ... Read More »

Will east Africa sail off into the sunset with its economy-boosting port projects, or are there clouds on the horizon?

From Djibouti to Mozambique, several east African countries are at various stages in the development of ambitious and modern port facilities worth a combined value of over US$20 billion. The first berth of a proposed 32-berth port in the Kenya coastal town of Lamu, for example, is due to open later this month, part of the flagship Lamu Port-South Sudan-Ethiopia ... Read More »

U.S. Seeks to Unwind Business Deals That Pose Telecommunications Security Threat

WASHINGTON—Commerce Secretary Wilbur Ross would have greater power to unwind business deals that threaten the country’s telecommunications infrastructure under a federal proposal released Tuesday. Read More »

China wants a US trade deal ; but will fight back if necessary, says President Xi Jinping

China wants to reach an interim trade deal with the United States but it will not shy away from retaliation if necessary and will never let its “humiliating” history repeat itself, President Xi Jinping said on Friday. It was the Chinese leader’s first public comment on the prospects of an interim – or “phase one” – deal between the two ... Read More »

Rather than decouple, US, China businesses look for ways to collaborate

GUANGZHOU, China — For some big companies, U.S.-China business ties are still holding up, despite worries that trade tensions will cause the two economies to decouple. The biggest change for Microsoft in the last year is having more opportunities than before in the Chinese market, particularly for Chinese companies wanting to go abroad, said Alan Crozier, chairman and CEO of ... Read More »

China stands firm on demand US lifts tariffs to reach trade war deal

China is sticking firm to its demand that the US remove tariffs as talks on an interim trade deal continues, the Ministry of Commerce said on Thursday. Ministry spokesman Gao Feng said the trade war between the two nations started with the imposition of tariffs and it should end with their removals. “That is the important condition for reaching the ... Read More »

California, ‘ground zero for US-China relations’, feels the pinch as trade war tariffs hit American port traffic

Karen Quintana used to pay little attention to US President Donald Trump’s Twitter feed. But as the US-China trade war has dragged on, monitoring the frequent social media dispatches has become an essential part of the job. “At first, people did not really believe the tweets on tariffs were real. They thought, ‘oh he tweeted something, but maybe it’s not ... Read More »

Fentanyl smugglers: Nine jailed in landmark US-China operation

Nine people have been jailed in China for smuggling fentanyl into the US, after a landmark joint investigation by American and Chinese officers. In August, US President Donald Trump said China was not doing enough to stop the opioid – 50 times more potent than heroin – being shipped to the US. The Chinese court said it was the first ... Read More »