WASHINGTON—The U.S. trade deficit widened to a record high in January as businesses imported more goods to rebuild inventories, potentially setting up trade to remain a drag on economic growth in the first quarter. Though inventory accumulation continues, the pace is cooling, with other data from the Commerce Department on Tuesday showing the increase in…
Record US Trade Deficit, Slowing Wholesale Inventory Gains Seen Curbing Economic Growth
Why Is This Major European Country Embracing China?
Commentary In December 2021, a number of countries, including the likes of Australia, the United States, and Canada, announced a diplomatic boycott of the Winter Olympics, which recently took place in China’s capital, Beijing. More symbolic than significant, the countries sent a passive-aggressive message to the Chinese Communist Party (CCP). In short, human rights abuses…
Trade Is Surging Between China and Russia
March 4, 2022
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News Analysis China and Russia are drawing closer and rapidly. That was happening even before the West imposed sanctions on Russia over the invasion of Ukraine. But now that China seems willing to take at least some of what Russia may no longer be able to sell in Europe and elsewhere, bilateral trade between the…
China Says It Won’t Join Sanctions on Russia, Trade Will Go on as Normal
March 2, 2022
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Beijing is not partaking in Western sanctions against Russia and opposes such unilateral measures, the country’s banking regulator said on March 2. “As far as financial sanctions are concerned, we don’t approve of them, particularly those launched unilaterally, because they won’t have good effects and don’t have much legal basis,” said Guo Shuqing, chairman of…
News on US-China Trade: Some Bad, Some Good
Commentary On the matter of China-U.S. trade, there is one item of bad news and two of good news. The bad news is that China has failed to meet its commitments under the first phase of the trade agreement signed in January 2020. This is hardly a surprise to anyone who has followed the data,…
Japan’s Trade Deficit Jumps to 8-year High as Commodity Imports Soar
TOKYO—Japan ran its biggest trade deficit in a single month in eight years in January as high energy costs swelled imports and manufacturers struggled with global supply constraints, causing a decline in car shipments. The growing trade deficit highlights the world’s third-largest economy’s vulnerability to soaring commodity costs and slowing demand from its neighbor China…
Capitol Report (Feb. 16): Biden Orders Release of Trump White House Logs
The 40-year-high inflation rate is getting the attention of Senate Democrats. Senate Majority Leader Chuck Schumer says they’re focused on finding solutions. NATO officials said Moscow is still adding troops to its buildup around Ukraine. The White House says they are watching very closely. The vaccine mandates have trickled down through all aspects of society,…
Demand Shock Behind Global Bottlenecks Should Ease in Months: WTO
BRUSSELS—Global trade bottlenecks are more the result of demand spikes than supply chain snags, with pressure likely to ease in the coming months, the World Trade Organization’s chief economist said on Monday. The WTO had thought in October that demand for goods would slow early in 2022. However, that was before the Omicron variant of…
US Needs to Prioritize Competitiveness to Ensure It Doesn’t Lose Critical Industries to China: Report
The cross-border trade and regulatory policies of the United States government in recent years have not always served the interests of American competitiveness on the world stage and have sometimes played directly into the hands of the Chinese Communist Party (CCP), according to a new report by Information Technology and Innovation Foundation (ITIF), a Washington-based think…
Japan’s January Consumer Inflation Slows, Trade Deficit Biggest in 8 Years: Poll
TOKYO—Japan’s core consumer inflation likely slowed in January from the previous month, a Reuters poll showed, reinforcing expectations the country’s central bank will lag well behind other economies in raising interest rates. Separate data is also expected to show Japan likely ran the biggest trade deficit in eight years in January as persistent rises in…
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