South Korea said Tuesday that it will halt all Iranian oil imports from the start of July in response to a European Union insurance ban on tankers carrying crude from Iran.
U.S. Secretary of Commerce John Bryson stepped down Thursday, telling President Barack Obama in a letter of resignation that a recent seizure could be a distraction from doing his job.
Police say Commerce Secretary John Bryson caused two car accidents. Bryson suffered a seizure. CNN's Brian Todd reports.
China's trade surplus jumped in April as imports and exports both further decelerated, renewing fears of a harder than expected landing for the world's second-biggest economy.
Former Israeli Prime minister Ehud Olmert tells Christiane Amanpour that military action against Iran is a last resort.
Iran is accepting renminbi for some of the crude oil it supplies to China, industry executives in Beijing and Kuwait and Dubai-based bankers said, partly as a consequence of US sanctions aimed at limiting Tehran's nuclear programme.
At a news conference, President Obama says Iran has little time left to negotiate the conditions of its nuclear program.
China, South Korea and Japan dramatically cut their oil imports from Iran in February following intense US efforts to persuade Asian buyers to comply with Washington sanctions on Iran's central bank.
In an environment of declining retail sales in the United Kingdom, one premium brand is bucking the trend as consumers vote with their consciences.
The United Kingdom boasts the largest market for fair-trade products. CNN looks at the changing retail trend.
The United States, the European Union and Japan are filing a challenge with the World Trade Organization against China's export restrictions on minerals that are crucial for the production of many high-tech devices, President Barack Obama announced Tuesday.
Chinese central bank officials have suggested the renminbi is no longer significantly undervalued after six years of gradual appreciation, citing the country's large trade deficit in February.
China shocked the world this weekend when it announced its largest trade deficit in more than two decades.
China's trade deficit hit $31.5bn in February as exports slumped, underscoring concerns about slowing global demand and cooling growth in the world's second-largest economy.
Japan posts its first trade deficit since 1980. CNN's Kyung Lah puts it in perspective from Tokyo.
Japan -- battered by a strong yen, slowing global demand and increased oil and gas imports due to last year's Fukushima nuclear disaster -- posted a record trade deficit of $18.7 billion in January, according to official figures released Monday.
Chinese imports fell sharply in January, a sign of sluggish domestic demand that will fuel concerns about whether the fragile global economy can count on China as a bastion of growth.
The EU has demanded that China loosen its policy on sales of rare earth materials after the World Trade Organisation upheld a ruling that Beijing's policies to limit raw material exports violated international trade rules.
Japan has posted an annual trade deficit for the first time since 1980 after a year of struggling to adjust to a strong yen, a eurozone crisis and the impact of natural disasters.
Japan is prepared to gradually reduce the amount of oil it imports from Iran, Finance Minister Jun Azumi said Thursday, as the United States seeks to muster international support to put fresh pressure on Tehran over its nuclear program.
The company that owns Victoria's Secret vowed a full investigation Thursday after a report said cotton used in some of its products is grown using child labor.
China slapped duties on U.S.-made cars Wednesday, an action that could imperil billions in sales by Detroit automakers but which will leave most of their sales in the country unaffected.
China's president, Hu Jintao, on Sunday pledged an "even more active" opening up of the country's economy and a renewed commitment to free trade as he sought to respond to concerns over apparent reform fatigue in Beijing and a deteriorating global economy.
South Korean automakers hope the U.S. Korea Free Trade Agreement will give them a huge boost.
President Barack Obama, in Hawaii for a weekend economic conference, said Saturday that leaders of nine nations have agreed on the "broad outlines" of a trans-Pacific free trade agreement.
CNN's Fareed Zakaria looks ahead at what the president hopes to accomplish during his upcoming trip to Asia.
President Barack Obama begins a nine-day trip through the Asia-Pacific region Saturday with a stop in Hawaii for a weekend economic conference where he will press for progress on a trans-Pacific free trade agreement.
Supporters of free-trade agreements approved this week by U.S. lawmakers predicted Thursday that the accords will increase exports and create jobs, but analysts are split over how much the new measures will boost the flagging U.S. economy.
Our dysfunctional divided Congress finally was able to find some common ground Wednesday, passing long-delayed free-trade bills with South Korea, Panama and Colombia. Together, these treaties promise to increase U.S. exports by more than $12 billion a year while creating more than 300,000 jobs -- good news for our still-sluggish economy and struggling American workers.
China and the United States are the world's two largest economies and arguably each other's most important trading partners.
In a rare showing of bipartisanship, the Senate passed a bill on Tuesday targeting China's undervalued currency -- and angering Chinese officials who have warned of a "trade war."
The United States is pushing back against a Chinese tariff that has virtually wiped out chicken exports to the world's largest nation.
Mitt Romney's jobs plan calls for lower corporate taxes, trade sanctions on China and repealing the health care bill.
Standing under a banner that read "Day One, Job One," former Massachusetts Gov. Mitt Romney unveiled his jobs plan Tuesday with a pledge to take steps on his first day as president to undo what he called failed economic policies of the Obama administration.
The gap between U.S. exports and imports narrowed in July to $44.8 billion, according to a government report, which was much better than the $51.1 billion expected.
Amid all the squabbling in Washington, there is one policy many Democrats and Republicans agree on -- free trade deals with South Korea, Colombia and Panama.
Claiming U.S. foreign policy can create American jobs at home, Secretary of State Hillary Clinton Tuesday urged U.S. companies to "roll up their sleeves, get out there and engage with the economic opportunities that are emerging across the world."
China's trade surplus continued to grow in June, even as the export powerhouse's manufacturing sector slowed slightly.
The U.S. trade deficit widened in May to the largest level in more than 2-1/2 years, as exports slowed during an economic soft patch, and imports picked up along with higher oil prices.
Benjamin Pedley of HSBC Private Bank discusses rising inflation in China and the risk of a hard landing for Beijing.
CNN's Becky Anderson shows the Hamburg port, which gets approximately 7000 shipping containers a year passing through.
The gap between U.S. exports and imports narrowed slightly in April, as Japan's earthquake weighed on the global auto supply chain, according to a government report.
President Obama announced his choice to lead the Commerce Department on Tuesday, selecting John Bryson, the former CEO of the utility company Edison International.
Bill Daley doesn't tweet. He's not a big fan of e-mail. When Daley wants to connect, he picks up the phone and, depending on the situation, proceeds to cajole, console, commiserate, counsel -- or some combination thereof. It is a skill he's honed in more than two decades as a counselor to restless lawmakers, presidential candidates, and CEOs -- and one he's now employing as President Obama's new chief of staff and unofficial troubleshooter of the administration's badly damaged relationship with corporate America. "I've always thought politics was about relationships and people," Daley tells me in a rare interview (over the telephone, of course) about himself. Practicing politics, he adds, is not like practicing a golf swing. "It's about engaging people, listening to them, understanding what motivates them."
Surging oil prices drove the U.S. trade deficit further into the red in March, according to government data released Wednesday.
The earthquake and tsunami that devastated Japan last month also had a major impact on the country's trade balance.
The U.S. trade gap narrowed in February, as both exports and imports declined during the month.
For the first time in seven years, China reported a quarterly trade deficit, as imports soared to an all-time high.
With President Obama in Latin America to talk trade this weekend, he faces a new stalemate at home on key treaties that he wants wrapped up this year.
The U.S. trade deficit widened to a five-month high in January, as imports surged across a variety of sectors, far outpacing exports.
In an unexpected development, China on Thursday reported a $7.3 billion trade deficit in February as imports soared and exports rose only slightly.
U.S. stocks were poised to follow overseas markets lower Thursday, after China reported a surprise trade deficit and Spain's credit rating was lowered one notch.
At a time when consumers in Europe and the U.S. struggle with huge debts, most major U.S. companies have been flocking to emerging economies for the next big consumer -- namely, in China. It's no surprise. After all, the East Asian tiger surpassed Japan last year to become the world's second-biggest economy after the U.S. And with a population of about 1.3 billion, China is on track to be the world's third-largest consumer market by 2025, according to McKinsey & Company.
The U.S. trade gap widened to a three-month high in December, driven largely by rising commodities prices.
Real estate mogul Donald Trump told hundreds of conservative activists Thursday, that if he was president, he would take in "hundreds of billions from countries that are screwing us."
In what has become a sore point for other major world economies, China still exports far more goods and services than it imports.
Chinese President Hu Jintao is visiting the United States this week, and simmering trade disputes between the two countries will likely be high on the agenda.
Two members of Congress circulated a letter amongst colleagues on Friday that accuses China of consistent violations of international trade law, and warns the behavior will no longer be tolerated.
The U.S. trade gap was little changed in November, and is still deep in the red, the government said Thursday.
Stocks rose Friday, with the S&P 500 closing at a 2-year high, as investors welcomed some upbeat economic news and a dividend hike by General Electric.
The trade deficit in the United States narrowed, according to the latest monthly data out Friday, though America's largest trading partner, China, still exports far more than it brings in.
U.S. stocks were poised to open slightly higher Friday, as investors digested the latest data on China's trade surplus and U.S. trade gap, and awaited an update from Washington on the Obama-GOP tax cut deal.
The United States has reached a tentative free trade agreement with South Korea, the White House said Friday.
The high standard of living most Americans enjoy could be at risk. And the looming danger is caused by two little words -- "global imbalances."
Accusations of currency manipulation are causing tension, and world leaders are hoping the contentious topic won't turn this week's G-20 gathering in Seoul into an all-out global brouhaha.
As global leaders prepare to debate international trade imbalances this week, both the U.S. and China announced data that points to a continued trade disparity between the world's two largest economies.
Big business interests are hopeful that a Republican takeover of the House -- now looking more likely than not -- will thaw free-trade deals that have languished since President Obama took office. Those agreements are on a short list of priorities the White House has in common with GOP leaders.
Forget about the value of the yuan, cheap tires or chickens.
Investors react to a interest rate hike by the People's Bank of China. CNN's Stan Grant reports.
A U.S. trade spokeswoman said Tuesday officials are looking into a recent New York Times report that said China has halted shipments of rare earth minerals bound for the United States and Europe.
The U.S. trade gap widened to $46.3 billion in August, driven by a record-breaking deficit with its largest trading partner China.
CNNMoney: Stocks set to advanceupdated: Wed Oct 13 2010 09:17:00
U.S. stocks were headed for gains Wednesday, driven by strong earnings from Intel and JPMorgan Chase as well as increased consumer confidence from the Chinese trade report.
U.S. gas prices rose by 8 cents over the past two weeks, pushed up by a spike in crude oil prices, according to a new survey of filling stations.
Chinese Premier Wen Jiabao says his country's huge stimulus plan will continue to create economic growth, as long as inflation expectations are well-managed.
Who exactly is China's premier Wen Jiabao? CNN's Fareed Zakaria investigates.
Great. The global economy finally starts to show signs of emerging from the recession and now a possible trade war between the U.S. and China is throwing a monkey wrench into the recovery.
U.S. gasoline prices have decreased by less than a cent in the past two weeks, though some regions saw an increase due to an oil pipeline leak, according to a new nationwide survey.
The nation's trade gap fell sharply in July, reducing a major headwind for U.S. economic growth and quieting some fears of a double-dip recession.
There aren't many Fortune 500 executives on President Obama's good-guys list these days, but retiring Caterpillar chairman Jim Owens makes the cut. Caterpillar manufactures things instead of practicing financial wizardry. It moves mud rather than spills oil. More to the point: The iconic Peoria company produces the kind of well-paid manufacturing jobs that a recession-weary nation sorely needs.
The price for a gallon of self-serve regular gasoline is up nearly a nickel in the past two weeks, but gas prices aren't expected to continue a dramatic rise, according to a survey published Sunday.
The leaders of the Group of Eight global economic powers pledged Saturday to continue working together as the world "begins a fragile recovery from the greatest economic crisis in generations."
As oil demand jumps to fresh highs and supplies fall, crude prices are climbing and poised for further gains this summer, signaling that higher costs at the pump may also be on the way.
Gas prices have been drifting lower over the past week, which is welcome news for drivers who are gearing up to hit the road for Memorial Day weekend.
Gasoline prices at the pump have climbed more than 7 cents per gallon in the past two weeks, but could plummet soon with declining crude oil prices, according to a survey published Sunday.
Nationwide gasoline prices are not expected to go much above $3 a gallon on average this summer, unless there is a demand surge or severe shock in supply, analysts said Tuesday.
Last week during the day, some kids in Ciudad Juarez, Mexico, were playing soccer in a park when a car slowed down, guys got out and executed a 13-year-old boy. And then they drove away, unmolested in a city with 11,000 army and police officers.
The average nationwide price of a gallon of gas is creeping close to $3 a gallon, bringing back bad memories from the summer of 2008. If gas tops the $3 mark, will that kill the economic recovery? Or will consumers just shrug their shoulders and keep driving and spending?
The dollar slipped against the euro and the pound Thursday but rose against the yen as investors digested mixed U.S. economic news.
U.S. stocks were set for a weak open Thursday as investors digests reports about the number of people filing for unemployment and the trade balance.
Mexico asked the United States to move forward with creating a proposal to end a ban on cross-border trucking in violation of the North American Free Trade Agreement.
Bob Lutz is generally not a close ally of environmentalists.
Gas prices continued to climb higher, rising for a fifth consecutive day and coming closer to $3 a gallon.
The U.S. International Trade Commission voted unanimously Wednesday to impose new tariffs on imports of Chinese steel piping.
There's been a lot of gloom surrounding the climate talks in Copenhagen, Denmark, and let's face it, some of it is well-founded. Trying to get 192 countries to agree on a new treaty would be tough even in the best of economic times, and these aren't the best of economic times.
U.S. average gasoline prices dropped by more than 3 cents per gallon in the past two weeks as the slumping job market takes its toll on consumers, according to a nationwide survey out Sunday.
As President Obama completes his trip to China, it's a natural time to ask if trade with the greatest source of U.S. imports is a good thing or bad thing for the still battered U.S. economy
Gas prices are up slightly from two weeks ago -- despite a decline in the price of oil, according to a survey published Sunday.
In Guangzhou, China, CNN's Eunice Yoon speaks with U.S. Commerce Secretary Gary Locke about U.S.-China trade relations.
Not even Franz Kafka could have dreamed this one up.
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