The global trade war is about to get worse, as the rules-based system of international commerce is poised to revert to an environment where the strong impose their will upon the weak, according to an internal memo circulated among European Union governments.The disputes between the U.S. and its closest trading partners are set to escalate “in the coming months, as more unilateral measures are threatened and imposed, leading, in some cases, to countermeasures, or to mercantilist deals,” according to the memo drafted by the European Commission, which manages trade policy for the entire bloc.To read more about the biggest threats to the WTO, click hereOur world will go back “to a trading environment where rules are only enforced where convenient and where strength replaces rules as the basis for trade relations,” according to the memo.The dire warnings come as the exports-based European economic model risks crumbling under pressure from President Donald Trump, who … [Read more...] about The EU Says the Global Trade War Is About to Get Worse
Global trade
Liverpool is ‘gateway to global trade’ says PM as business festival starts
The Prime Minister is today launching the world's biggest business festival in a city she calls "the gateway to global trade". Today marks the start of the third International Business Festival in Liverpool. The three week-long event will see the city host thousands of visitors from around the world, with 150 delegations from 90 countries including large delegations from China, India and the USA. Organisers say the previous two festivals helped spark half a BILLION pounds of trade and investment. And they say that at a time when the UK is worried about Brexit, the festival will help ambitious British firms win more business overseas and create more jobs. PM Theresa May won't be at the Festival's opening week at the Exhibition Centre Liverpool because of the crucial Brexit votes in the House of Commons. But in a video set to be played at the event's opening today, she said: “I am delighted that we are hosting a festival that will bring together hundreds of investors, innovators … [Read more...] about Liverpool is ‘gateway to global trade’ says PM as business festival starts
Revolut set to launch global trading platform for listed companies without trading fees
Revolut, the fintech company that offers alternative ways for money transfer and foreign exchange, announces that it will launch a global trading platform to buy and sell listed companies without commission. That means people in Europe can invest in companies like Apple and Amazon in just a few shortcuts. Tne company that reached 2 million users in Europe and is actively working to develop a fee-free trading platform. Revolut will soon allow customers to explore and invest in listed companies in the UK or the United States, and to use other financial instruments such as collective investment funds (ETFs) or options. The company intends to fundamentally transform the investment process and make it affordable and convenient for everyone, democratizing investment in action by removing barriers of prohibitive taxes, unclear interfaces, and complicated activation processes. In a market where traditional brokerage firms charge a fee of up to GBP 5 for each transaction, Revolut sees an … [Read more...] about Revolut set to launch global trading platform for listed companies without trading fees
Donald Trump is picking up pennies as China steamrollers global trade, and Britain is nowhere to be seen
Juliet Samuel 3 June 2018 • 9:00pm Sometimes, faced with a big, intractable problem, we humans spend all our energy on avoiding it. A report deadline, an ailing relationship or an existential challenge to capitalism and global trade – such challenges, approaching like steamrollers from afar, all seem to push us to remarkable new heights of creative procrastination. The steamroller, in this case, is China. And the governments and institutions picking up pennies before it are the US, Britain and, to a lesser extent, the EU. Donald Trump has just started a major trade dispute with the US’s closest allies. Britain is embroiled in arcane arguments about customs procedures. And the EU, though it is genuinely trying to have a strategic... To continue reading this article Start your free trial of Premium Access all Premium articles Subscriber-only events Cancel any time Free for 30 days then only £2 per week Try Premium … [Read more...] about Donald Trump is picking up pennies as China steamrollers global trade, and Britain is nowhere to be seen
EU Seeks Last-Minute Tariff Reprieve to Avoid Global Trade Fight
The European Union is seeking a last-minute deal with the U.S. to avoid inflaming global trade tensions as President Donald Trump prepares to impose tariffs on steel and aluminum imports at the end of the month.“We’re at the beginning of a decisive week,” German Economy Minister Peter Altmaier told reporters in Brussels on Monday. “We have to try to avoid higher tariffs if possible and that means we’re ready to agree with the Americans on points that are necessary in our mutual interest.”The U.S. in March imposed levies of 25 percent on steel imports and 10 percent on aluminum imports, giving some regions, including the EU, a temporary reprieve that will expire June 1. The 28-nation bloc has threatened to retaliate with duties on 2.8 billion euros ($3.3 billion) of American products if tariffs go into effect. Washington offered the possibility of quotas set at 90 percent of last year’s imports as an alternative to the tariffs, but the EU has … [Read more...] about EU Seeks Last-Minute Tariff Reprieve to Avoid Global Trade Fight