Business Jun 6, 2021

What is a global minimum tax and what will it mean?

The deal aims to end what U.S. Treasury Secretary Janet Yellen has called a "30-year race to the bottom on corporate tax rates" as countries compete to lure multinationals.

Business May 25, 2021

Deputy U.S Treasury chief sees G7 support for 15%-plus global minimum tax

The U.S. global minimum tax proposal is expected to be a key topic of discussion at a preliminary virtual G7 finance leaders meeting on Friday.

Business Jan 27, 2021

Janet Yellen makes history again as first female chief of U.S. Treasury

The Senate voted an overwhelming 84-15 to confirm Janet Yellen as the first woman to lead the U.S. Treasury earlier this week, setting her quickly to work with Congress on coronavirus relief, reviewing U.S. sanctions policy and strengthening financial regulation. All opposition was from Republicans, ...

Business Dec 17, 2020

U.S. trade czar's advice for Biden on China: 'Hold their feet to the fire'

U.S. President-elect Joe Biden should keep pressing China to stick to the phase one trade deal and use tariffs as leverage, U.S. Trade Representative Robert Lighthizer said, adding that Beijing has done a "reasonably good job" at implementing parts of the deal. In a rare ...

Business | ANALYSIS Aug 14, 2020

A faltering U.S.-China trade deal is now the nations' strongest link

Top U.S. and Chinese trade officials are expected to recommit to a Phase 1 trade deal during a review on Saturday, even though China's promised purchases of U.S. exports are far behind schedule. Current and former U.S. government officials and trade experts in both countries ...

Business / Economy | ANALYSIS Jun 24, 2020

Trump's threat to 'decouple' U.S. and China hits trade and investment reality

Conflicting talk from White House officials about "decoupling" the U.S. economy from China is running into a challenging reality: Chinese imports of U.S. goods are rising, investment by American companies into China continues, and markets are wary of separating the world's biggest economies. U.S. President ...

Business Oct 7, 2019

Where the Japan-U.S. trade deal falls short of the Trans-Pacific Partnership abandoned by Trump

President Donald Trump has called his new trade deal with Japan a "phenomenal" victory for U.S. farmers. But don't expect America's Land O'Lakes butter to knock New Zealand's Anchor or France's President brands off store shelves in Japan. Butter is one of several U.S. dairy products ...

Business Feb 15, 2019

China offers to end market-distorting subsidies at trade talks, but U.S. negotiators remain skeptical

China has pledged to end market-distorting subsidies for its domestic industries but offered no details on how it would achieve that goal, according to three people familiar with the U.S.-China trade talks in Beijing this week. China promised to bring all subsidy programs into compliance ...

Business | ANALYSIS Sep 7, 2018

As U.S. readies to slap more tariffs on China, no end in sight for trade tensions

With U.S. President Donald Trump gearing up to impose tariffs on $200 billion in Chinese goods and Beijing certain to retaliate against any such measures, the world's two biggest economies are locked in an escalating trade war, with no resolution in sight. The United States ...

Business | ANALYSIS Mar 24, 2018

Extent of U.S.-China trade fight depends on Trump's goals, experts say

How bad will the U.S.-China trade fight get? That depends on whether President Donald Trump will settle for a reduction in China's U.S. trade surplus or hold out for sweeping changes to China's industrial policies. After Trump's announcement on Thursday that he will impose tariffs ...