China plans tariffs on $60 bln of U.S. goods in latest trade salvo

BEIJING/SINGAPORE, Aug 3 (Reuters) – China proposed retaliatory tariffs on $60 billion worth of U.S. goods ranging from liquefied natural gas (LNG) to some aircraft on Friday, as a senior Chinese diplomat cast doubt on prospects of talks with Washington to solve their bitter trade conflict. The Trump administration tightened pressure for trade concessions from […] Read more

Mexico eyes NAFTA breakthrough next week, says Canada joining soon

WASHINGTON, Aug 3 (Reuters) – Mexico’s economy minister said on Friday that Mexico and the United States could overcome key stumbling blocks standing in the way of a new NAFTA deal next week, adding that Canada would likely soon rejoin the negotiations. Mexican and U.S. teams will work through the weekend to overhaul the North […] Read more

Trump administration adds to China trade pressure with higher tariff plan

WASHINGTON/BEIJING, Aug 1 (Reuters) – U.S. President Donald Trump sought to ratchet up pressure on China for trade concessions by proposing a higher 25 percent tariff on $200 billion worth of Chinese imports, his administration said on Wednesday. U.S. Trade Representative Robert Lighthizer said Trump directed the increase from a previously proposed 10 percent duty […] Read more

Deal with U.S. on key NAFTA rule closer, Mexico and Canada say

TRAVERSE CITY, Mich., Aug 1 (Reuters) – The United States and Mexico are getting close to a deal on the key issue of autos content rules at talks to renew the NAFTA trade pact, Mexican and Canadian officials said on Wednesday. Guillermo Malpica, head of the trade and NAFTA office for the Mexican government, also […] Read more

India’s monsoon rain forecast cut, farm output seen at risk

MUMBAI, Aug 1 (Reuters) – India is likely to receive below-normal monsoon rains in 2018, a private weather forecaster said on Wednesday, raising concerns over farm output and economic growth in Asia’s third-biggest economy, where half the farmland lacks irrigation. The monsoon delivers about 70 percent of India’s annual rainfall, critical for the farm sector […] Read more

EU touts jump in soybean imports from US

BRUSSELS, Aug 1 (Reuters) – EU soybean imports from the United States almost quadrupled early in the new marketing year, the European Union said, a week after it struck a deal with U.S. President Donald Trump to avert a trade row, as buyers responded to a sharp drop in prices. The EU said in a […] Read more

Bunge posts surprise loss on trade-related soy hedges

CHICAGO, Aug 1 (Reuters) – Global grains merchant Bunge Ltd reported a surprise quarterly loss on Wednesday as its agribusiness unit took a $125 million hit from soybean hedges tied to the trade dispute between the United States and China. Shares of the White Plains, New York-based company fell 2.9 percent in early trading to […] Read more

ADM earnings double, helped by U.S.-China trade row

CHICAGO, July 31 (Reuters) – Archer Daniels Midland Co’s net profits doubled in the second quarter and beat Wall Street estimates, after a drought in Argentina and the U.S.-China trade spat boosted the U.S. grain merchant’s trading and oilseed processing businesses. Shares were up 1 percent at $47.86 after touching a three-year high on the […] Read more

G20 agriculture ministers slam protectionism, pledge WTO reforms

BUENOS AIRES, July 28 (Reuters) – Agriculture ministers from the G20 countries criticized protectionism in a joint statement on Saturday, and vowed to reform World Trade Organization (WTO) rules, but did not detail what steps they would take to improve the food trade system. In the statement, they said they were “concerned about the increasing […] Read more