The European Union wants the United States to commit to end their aircraft-related tariffs next week, according to a draft statement seen by CNBC, as both sides look to get the transatlantic relationship back on track.
Foreign Minister Mohammad Javad Zarif stressed the need to speed up the finalization of a preferential tariffs agreement with Indonesia, expressing Iran’s readiness to continue negotiations in this regard.
The reduction of port tariffs and the facilitation of goods transit through Chabahar port resulted in increasing the loading and unloading operations of the port during the last Iranian year (ending March 19), said the deputy head of the Ports and Maritime Organization (PMO).
Exports of the commodities subjected to preferential tariffs from Iran to the Eurasian Economic Union (EEU) member states have risen 85 percent since October 2019, the Trade Promotion Organization of Iran (TPO) head announced.
Iran’s minister of industry said the government has no plans to revise a series of harsh tariffs imposed on exports of raw metals as the government seeks to gain more revenues through the export of finished products that could generate more added value for the country.
US President Donald Trump’s surprise decision to slap metals tariffs on Brazil is a blow to President Jair Bolsonaro’s aim of forging closer ties with Washington and could push Latin America’s No. 1 economy closer to Trump’s top trade foe - China.
A dovish Federal Reserve can use tools such as rate cuts to lessen the damage of America’s tariff skirmishes with China and Mexico, but it is either limited in its effectiveness or in its motivations, two economists told CNBC on Thursday.
More than six months after the United States, Mexico and Canada agreed a new deal to govern more than $1 trillion in regional trade, the chances of the countries ratifying the pact this year are receding.
US president Donald Trump has directed aides to proceed with tariffs on about another $200 billion of Chinese goods, despite Treasury Secretary Steven Mnuchin’s attempts to restart trade talks with China, a source familiar with the matter said on Friday.
China on Monday promised retaliation if US President Donald Trump escalates their tariff battle, raising the risk Beijing might target operations of American companies as it runs out of imports for penalties.
Turkey said Wednesday it is increasing tariffs on imports of certain US products, including rice, cars, alcohol and coal as a bitter dispute between the two allies that sent the Turkish lira into freefall showed no sign of ending.