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  • The U.S. Commerce Department on Wednesday said that the U.S. trade gap shrunk to $40.9 billion in April, down from March's revised deficit of $50.6 billion. Imports fell 3.3 percent to $230.8 billion as West Coast ports, a key entry point for goods to and from Asia, cleared a backlog created by a labor dispute that was settled earlier this year. The...

  • WASHINGTON— US trade deficit drops sharply to $40.9 billion in April as exports rise and imports fall.

  • Trade gap narrows as services exports hit record Wednesday, 3 Jun 2015 | 8:30 AM ET
    The NYK Joanna container ship sits docked at the Dante B. Fascell Port of Miami-Dade County in Miami, Florida.

    The U.S. trade deficit narrowed in April as exports of services hit a record high and imports fell.

  • Ahead of the Bell: US Trade Gap Wednesday, 3 Jun 2015 | 6:49 AM ET

    WASHINGTON— The Commerce Department reports on April's U.S. trade gap at 8:30 a.m. Eastern Wednesday. LOWER DEFICIT: The expectation is that the deficit declined to $43.6 billion, according to a survey of economists by data firm FactSet. Economists believe that a flood of imports, which had been bottlenecked by a labor dispute at West Coast ports, rushed into the...

  • LAUNCESTON, Australia, June 3- How well is the plan by big iron ore miners to displace high-cost iron ore from the seaborne and Chinese domestic markets going? Certainly Chinese trade numbers show that Australia in particular has increased market share in iron ore imports, but the momentum may be stalling. In the first four months of the year, Chinese imports of the...

  • Here's the downside to Australia's Q1 GDP   Tuesday, 2 Jun 2015 | 9:32 PM ET
    Here's the downside to Australia's Q1 GDP

    David Bassanese, chief economist at BetaShares, says the quality of Australia's first-quarter gross domestic product isn't "fantastic" as consumer spending remained soft.

  • WASHINGTON, June 2- Whistleblower website WikiLeaks offered a $100,000 bounty for copies of a Pacific trade pact that is a central plank of President Barack Obama's diplomatic pivot to Asia on Tuesday. Union group AFL-CIO led a march on the USTR office in Washington to demand to read the text, but said it found the doors locked. But it is still unclear when the House...

  • WASHINGTON, June 2- The Republican chairman of the House of Representatives' energy panel on Tuesday said lifting the 40- year-old ban on U.S. oil exports would benefit consumers and the country's allies, a move that could boost support for legislation in the chamber. "Oil exports can be a win for the American people and a win for our allies," said Representative Fred...

  • WINNIPEG, Manitoba, June 2- Canada is whittling down its list of U.S. products that it may hit with steep tariffs in retaliation against contentious meat-labeling laws, Agriculture Minister Gerry Ritz said on Tuesday. Canada is ratcheting up pressure on U.S. lawmakers to scrap the meat labeling laws after they were ruled illegal by the World Trade Organization...

  • INTERVIEW- CANADA LOOKING TO HIKE TARIFFS ON ARRAY OF U.S.

  • WASHINGTON, June 2- The Republican chairman of the House of Representatives' energy panel on Tuesday said he favored lifting the 40- year-old ban on U.S. oil exports, a move that could boost support for legislation in the chamber. "Oil exports can be a win for the American people and a win for our allies," said Representative Fred Upton of Michigan in prepared remarks...

  • Representative Fred Upton, the Republican chairman of the House of Representatives' energy panel, on Tuesday said he favors lifting the 40- year-old U.S. oil export ban. "Oil exports can be a win for the American people and a win for our allies," Upton said. His backing could boost support for a bill in the House to overturn the trade restriction Congress enacted in the...

  • Sorry, Cuba not ready for developers: Ross Tuesday, 2 Jun 2015 | 8:27 AM ET
    Pedestrians wait for a bus in Havana, Cuba.

    Little will change in Cuba so long as the Castro government remains in power, billionaire developer Stephen Ross says.

  • *May imports from Iran rise nearly 40 pct on-mth to 367,900 bpd. The jump to a 14- month high comes just two months after India dropped its crude imports from Iran to zero under U.S. pressure to limit its purchases of the Islamic republic's oil. Many analysts say Tehran, the United States, Britain, France, Germany, Russia and China will reach an agreement by or shortly...

  • LIMA, June 1- A dockworkers strike at Peru's biggest port, Callao, has hit imports of basic goods in the Andean country and will likely stoke inflation, the main exporters association said Monday. The 18- day strike has nearly frozen activities at the northern terminal of Callao at the edge of the capital Lima, prompting $100 million in lost revenues for merchants,...

  • The crisis has prompted the authorities in Tripoli, who control much of western Libya, to plan cuts to petrol subsidies, to delay public salary payments and to ban on imports from cars to steel. Libya needs $30 billion to fund imports annually and typically spends $40 billion on its budget. "Libya is on the verge of economic and financial collapse," U.N.

  • WASHINGTON— After several near-death experiences in the Senate, the trade agenda that President Barack Obama is pushing as a second term capstone faces its biggest hurdle yet in the more polarized House. Anti-trade forces have struggled to ignite public outrage over Obama's bid to enact new free-trade agreements, but Democratic opposition in Congress...

  • South Korea, China sign free trade deal Monday, 1 Jun 2015 | 2:03 AM ET

    SEOUL, South Korea— South Korea and China signed a free trade deal Monday that will remove tariffs on more than 90 percent of goods over two decades. The agreement will give South Korea's small- and medium-sized companies wider access to the Chinese market while boosting China's investment in South Korea, the ministry said. It was the first time for China to...

  • June 1- China's manufacturing sector showed scant signs of picking up in May as demand stayed stubbornly weak, while exports in South Korea suffered their biggest annual drop since the global financial crisis, grim readings which prompted calls for bolder stimulus measures. The focus now shifts to the United States and parts of Europe, where hopes are pinned on...

  • --Clyde Russell is a Reuters columnist. LAUNCESTON, Australia, June 1- Another anemic reading on China's factory sector will no doubt spark increased expectations of monetary and fiscal stimulus, along with hopes for improved commodity demand and prices. But the problem with this scenario is that there is little correlation between China's Purchasing...