Japan's current account surplus grows as coronavirus hits imports
Japan saw its biggest current account surplus in nearly two years in February as goods imports plummeted due to coronavirus-related factory closures in China, government data showed Wednesday. The current account was ¥3.17 trillion ($29 billion) in the black, the third-largest figure on record and ...
Trump eases U.S. coronavirus export ban after global backlash
U.S President Donald Trump eased restrictions on exports of masks and other protective equipment needed to fight the COVID-19 pandemic just days after their introduction as he confronted a backlash from allies around the world. Faced with domestic criticism of his administration’s handling of ...
Key food prices surge in some areas after virus upends supply chains
As the coronavirus pandemic penetrates more deeply into global supply chains, prices for key staples are starting to soar in some parts of the world. Rice and wheat — crops that account for about a third of the world’s calories — have been making rapid ...
Politics aside, U.S. relies on China supplies to fight coronavirus
U.S. politicians have voiced fury over Beijing's handling of the coronavirus crisis but they face a harsh truth — the United States desperately needs China's supplies. China before the crisis produced nearly half of the face masks imported into the United States — which in ...
U.S. urges Japan to open its agriculture and auto markets further
The United States urged Japan on Tuesday to open its agricultural and automotive markets further to narrow the trade imbalance between the two countries. "The United States continues to engage closely with the Japanese government to urge removal of a broad range of barriers to ...
Mitsubishi Electric to export radar to Philippines in first defense package deal since ban lifted
Mitsubishi Electric Corp. won an order to deliver air radar systems to the Philippines for about ¥10 billion ($90 million), in the first defense product export from Japan, excluding parts, since its long-held arms trade ban was eased in 2014, a government source said ...
U.S. prepares crackdown on Huawei's global chip supply, sources say
Senior officials in the Trump administration have agreed to new measures to restrict the global supply of chips to China's Huawei Technologies Co., sources familiar with the matter said, as the White House ramps up criticism of China over coronavirus. The move comes as ties ...
Japan's exports fall, imports from China slump as virus impact widens
Japan's exports slipped for a 15th straight month in February as U.S. and China-bound shipments declined, suggesting a cooling of business activity in the world's third-largest economy due to the coronavirus outbreak. Imports from China fell at their fastest pace since 1986 after the virus, ...
Canada ratifies trade pact with U.S. and Mexico, then suspends Parliament over coronavirus
The Canadian Parliament rushed through ratification of the new U.S.-Mexico-Canada trade pact on Friday before taking a three-week break to help stop the spread of the coronavirus, a top government official said. Canada was the last of the three signatories to formally adopt the USMCA ...
Japan and South Korea agree to continue talks over export controls after marathon session
Japan and South Korea have agreed to continue discussions over export controls after trade officials wrapped up marathon discussions early Wednesday. "We exchanged information and welcomed the progress each side has made," said Yoichi Iida, head of the trade control department at Japan's trade ministry. ...
Coronavirus unleashes economic warfare
The face-off between Saudi Arabia and Russia is a potent reminder of just how rapidly countries are taking the gloves off when it comes to economic confrontation.
Japan and South Korea trade officials hold talks on contentious export controls
Japan and South Korea held a teleconference Tuesday to discuss trade export controls placed on each other amid the diplomatic feud over wartime labor compensation. The talks at the director general level were initially scheduled to take place in Seoul but had to be held ...
