Category: Business

Labor strikes. Nationwide protests. Bank failures. In recent months, Iran has been beset by economic problems despite the promises surrounding the 2015 nuclear deal it struck with world powers. Its clerically overseen government is starting to take notice. Politicians now offer the idea of possible…

China said Sunday it does not intend to ignite a trade war with the U.S. because the move would be disastrous for the entire world. “There are no winners in a trade war,” Minister of Commerce Zhong Shan said on the sidelines of China’s annual…

Trade representatives for Japan and the European Union met with the U.S. trade representative Saturday in an effort to avoid a trade war over President Donald Trump's new tariffs on aluminum and steel. At the meeting in Brussels, U.S. Trade Representative Robert Lighthizer, EU Trade…

Several Asian nations that are major trading partners with the U.S. reacted strongly Friday to a U.S. decision to impose tariffs on metal imports, raising concerns of global trade conflicts. China, a key target of U.S. trade concerns, said it was "resolutely opposed" to the…

China is gearing up to retaliate in response to stiff U.S. tariffs on steel and aluminum as Chinese industry associations urge authorities to take "resolute measures." Retaliation from Beijing could contribute to a possible trade war between the world's two biggest economies, analysts said. China's…

Young people around the United States are creating virtual businesses that produce simulated products, which are marketed and sold for virtual money. Thirteen hundred students recently showcased their ventures, ranging from telecom firms to gourmet food providers, in Pasadena, California. At what looked like a…

Europe's top monetary official criticized U.S. President Donald Trump's proposal to put tariffs on steel and aluminum imports as a "dangerous" unilateral move. Mario Draghi, the president of the European Central Bank, said that the "immediate spillover of the trade measures ... is not going…

Trade ministers from 11 Pacific Rim countries are set to sign a sweeping agreement to streamline trade and slash tariffs just as U.S. President Donald Trump is preparing to formalize new tariffs on aluminum and steel to protect U.S. producers. The deal to be signed…

A number of eastern European states have ramped up their opposition to a new gas pipeline linking Russia with Germany. The Nord Stream 2 project will bring Russian gas directly to Western Europe, but critics say it will increase dependence on Russia and enrich its…

Some countries are now likely to be spared from planned tariffs on metals advocated by U.S. President Donald Trump.  "We expect that the president will sign something by the end of the week, and there are potential carve-outs for Mexico and Canada, based on national…

U.S. President Donald Trump’s plan to impose tariffs of 25 percent on steel and 10 percent on aluminum has met criticism from his Republican allies in Congress, many of whom worry the measures could trigger a trade war that damages U.S. businesses. But the president…

President Donald Trump is selling Hispanic business owners on his new tax cuts. Trump is delivering the keynote address Wednesday at the annual legislative summit of the Latino Coalition. It's his first time addressing Hispanic business owners. The president says the $1.5 trillion package of…

At Sweet Waters, a village in central Kenya, Veronicah Nyambura stands under the hot sun between two fields. One is full of lush plants - but the other has crops so wilted that their leaves have curled up. The green land is planted with tea…

European Union states are set to remove Bahrain, the Marshall Islands and Saint Lucia from a list of tax havens next week, leaving only six jurisdictions on it, an EU document shows. The planned removals from the EU list drew criticism from an anti-corruption watchdog…

Mexico is looking into ways to deepen energy cooperation with Jamaica, Foreign Minister Luis Videgaray said on Tuesday on a Caribbean trip to promote U.S.-backed efforts to erode Venezuela’s diplomatic influence. Videgaray said he was hoping to get more Mexican firms to come to Jamaica…

Kenyan coffee has an international reputation for good quality. But Kenya’s coffee industry is struggling as production levels have dropped and a younger generation shows little interest in farming. VOA’s Daniel Schearf reports from Kirinyaga County, Kenya. ...

U.S. President Donald Trump reaffirmed his pledge to impose stiff tariffs on imported steel and aluminum Monday. The plan sparked outcry and criticism from the international community, including from members of Trump’s party. VOA’s Jesusemen Oni has more. ...

The Trump administration's proposal to expand offshore drilling off the Pacific Northwest coast is drawing vocal opposition in a region where multimillion-dollar fossil fuel projects have been blocked in recent years.   The governors of Washington and Oregon, many in the state's congressional delegation and…

Pennsylvania’s attorney general is suing the ride-hailing company Uber, saying it broke state law when it failed to notify thousands of drivers for a year that hackers stole their personal information. The lawsuit filed Monday in Philadelphia said hackers stole the names and drivers’ license…

U.S. President Donald Trump says Mexico and Canada would be exempted from his planned tariffs on steel and aluminum imports if they can reach a "new and fair" trade agreement with the United States. The three countries are currently in negotiations on revising the North…

China's top economic official set a robust growth target Monday and promised more market opening and cuts in a bloated steel industry that has inflamed trade tensions with Washington and Europe. The growth target of "around 6.5 percent" announced by Premier Li Keqiang to China's…

Washington is bracing for the start of a possible trade war between the United States and its closest allies and biggest commercial partners and a radical departure from America's trading posture of the last seven decades. VOA's Michael Bowman reports, the Trump administration is not…

China has added its voice to a growing chorus of concern about the rising threat of a trade war and tariffs that U.S. President Donald Trump is expected to impose on steel and aluminum imports later this week.   A top Chinese diplomat says that…

The EU will soon unveil a plan for taxing major internet companies like Amazon and Facebook by imposing a levy of two to six percent on revenues in every country where they operate, French finance minister Bruno Le Maire said Sunday. "The range will be…

President Donald Trump threatened on Saturday to impose a tax on European cars if the European Union chooses to retaliate against his plans to place tariffs on imported steel and aluminum. In a tweet Saturday morning, Trump said the U.S. had an "$800 Billion Dollar…

The tiny Marshall Islands is creating its own digital currency in order to raise some hard cash to pay bills and boost the economy. The Pacific island nation said it became the first country in the world to recognize a cryptocurrency as its legal tender…

In agitating for a trade war, President Donald Trump may have forgotten William Tecumseh Sherman’s adage that “war is hell.” The Civil War general’s observation can be apt for trade wars, which may create conditions for a shooting war. A look at Trump’s spoiling-for-a-fight tweet…

China has warned about the “huge impact” on global trading, if U.S. President Donald Trump proceeds with his plans to impose 25 percent tariffs on imported steel and 10 percent on imported aluminum products. Wang Hejun, head of China’s commerce ministry’s trade remedy and investigation…