U.S. will not stop Iran oil exports, says foreign minister
Agency Report
August 8, 2018
U.S. plan to reduce Iran’s oil exports to zero will not succeed, Iranian Foreign Minister, Mohammad Zarif was cited as saying by an Iranian newspaper on Wednesday. U.S. officials have said in recent weeks that they aim to pressure countries to stop buying oil from Iran in a bid to force Tehran to halt its […]
EU officials wield a $20bn tariff threat on American goods as they meet with Trump
Businessam StaffJuly 25, 2018
Top European Union (EU) officials are going into a meeting with U.S. President Donald Trump Wednesday, warning they are ready to put tariffs on $20 billion of American goods if he puts duties on car imports. According to Associated Press (AP), Jean-Claude Juncker EU Commission president and Cecilia Malmstrom, trade chief will meet Trump in […]
Beijing urges US firms in China to lobby Washington over trade war
Businessam StaffJuly 12, 2018
China Thursday urged US companies operating within its jurisdiction to lobby their government to protect their interests, saying foreign firms operating in China would suffer in a trade war. The Chinese authorities also revealed that there were currently no talks to end the impasse. Earlier Thursday, South Korea warned that its exports of high-tech components […]
US metal tariffs, reprisals to have limited impact on global growth, says Fitch
Businessam StaffJune 7, 2018
Retaliatory actions over the recent US’s expanded steel and aluminum tariffs on imports from the EU, Canada, and Mexico could escalate trade tensions but the situation would need to deteriorate severely to have major ramifications for world GDP, according to Fitch Ratings. The foremost rating agency said US iron, steel, and aluminum imports equate to […]
World tea production to hit 4.4m tonnes in 2027 on output boost
Businessam StaffJune 4, 2018
World production of black tea is projected to rise annually by 2.2 percent over the next decade to reach 4.4 million tonnes in 2027, reflecting major output increases in China, Kenya and Sri Lanka, according to a new report by the Food and Agriculture Organisation Intergovernmental Group. Output of green tea is foreseen to increase […]
EU-US trade tensions at fever pitch as officials meet over steel tariffs deadline
Businessam StaffMay 31, 2018
Trade tensions between the European Union and the United States ran high Thursday as the clock was ticking for US steel and aluminum tariffs against European producers to kick in. President Donald Trump’s administration is planning to impose tariffs on European steel and aluminum imports after failing to win concessions from the European Union, a […]
China’s open economy to benefit UK, world market, says Liu Xiaoming
Businessam StaffMay 24, 2018
China’s deepening reform and opening up of the economy is expected to generate new opportunities for the shared development of the country and the world, China’s ambassador to the UK said Addressing British and Chinese representatives from business and media enterprises at a convention in Bloomberg’s European headquarters, China’s UK ambassador Liu Xiaoming reaffirmed commitment […]
China to reduce import car tariffs from July 1
Businessam StaffMay 24, 2018
China’s ministry of finance declared Tuesday that the country is going to slash tariffs on most imported cars to 15 percent, with effect from July 1, 2018. This will include the current 25 percent tariff levied on 135 items and 20 percent on four items, down 40 percent and 25 percent respectively. This was announced […]
FMN chairman, stakeholders call for expansion of US-Nigeria trade ties
Businessam StaffMay 23, 2018
John Coumantaros, the co-chair of the United States Nigeria Council (USNC) and chairman of Flour Mills Nigeria, has commended the council’s support towards ensuring the growth of entrepreneurs in Nigeria through investments in key industrial sectors that would aid job creation. Coumantaros said these investments have further boosted bilateral ties between the U.S. and Nigeria […]
U.S., China will avoid acting ‘extremely foolish’ on trade, Warren Buffett says
Businessam StaffMay 5, 2018
Billionaire Warren Buffett on Saturday said it is unlikely that the United States and China will come to loggerheads on trade, and the countries would avoid doing “something extremely foolish.” “The United States and China are going to be the two superpowers of the world, economically and in other ways, for a long, long, long […]