*Canadian dollar at C $1.3460, or 74.29 U.S. cents. Oil is one of Canada's major exports. Speculators increased net short positions in the Canadian dollar to 99,109 contracts as of May 23 from 98,000 a week earlier, data from the Commodity Futures Trading Commission and Reuters calculations showed.
Last year, the U.S. trade deficit with Germany totaled $64.9 billion. The auto industry drives the much of the deficit with Germany.
Trump reportedly calls Germans ‘very bad,’ threatens to end German car sales. But analysts say the United States consumer would be the one hurt in the long run.
CNBC's Phil LeBeau reports on President Trump's comments about stopping German car sales in the U.S. while at the G7 Summit.
TAORMINA, Sicily— President Donald Trump has criticized Germany's trade surplus with the United States, drawing attention to a contentious issue at a summit of world leaders where trade is already a sticking point. White House economic adviser Gary Cohn said the president's comments focused on the surplus and not the country: "He said they're very bad on trade,...
In recent EU meetings, Trump reportedly threatens to block German car sales in the U.S.
WASHINGTON, May 26- The U.S. International Trade Commission said on Friday it would investigate imports of Fujifilm magnetic tape cartridges and components after a patent infringement complaint from Sony Corp..
U.S. economic growth slowed less sharply in the first quarter than initially thought, but the weakness was likely an aberration amid a strong labor market that is near full employment.
BERLIN— The European Union's trade commissioner says it's "unrealistic" to expect that a trade deal between the EU and Britain will be ready by the time the U.K. leaves the bloc in 2019.. German weekly Der Spiegel quoted commissioner Cecilia Malmstrom Friday as saying that it's unrealistic to have a trade agreement on April 1, 2019, when Britain is expected to have...
Anthony Gardner, former U.S. ambassador to the European Union, talk about the U.S. and its relationship with trade partners.
President Trump continues his marathon of meetings with world leaders in Italy today. Here’s what’s on the agenda.
TAORMINA, Italy, May 26- European Commission President Jean-Claude Juncker denied on Friday that U.S. German media reports said Trump had denounced Berlin's policies as "very bad" and had signalled that he wanted to limit sales of German cars in the United States. "He did not say that the Germans were behaving badly," Juncker said in Sicily before the start of a Group...
Trump reignites tensions with his EU counterparts after calling the Germans “very bad” for their trade surplus with the U.S.
BEIJING/ SINGAPORE, May 26- As OPEC extends production cuts in a bid to tighten the oil market, China's independent refiners- awash with crude and facing disappointing local demand- are poised to slow purchases of oil for at least the next two months. The move by China's so-called "teapots", a key driver of the country's crude appetite, will stir concerns about demand...
CNBC's Willem Marx reports from the G-7 meeting in Sicily, saying that the world leaders present will try to gauge U.S. President Donald Trump's views on trade.
CNBC's Willem Marx speaks about what to expect from the G-7 meeting in Sicily, the first of its kind for four of the world leaders present.
TAORMINA, Italy, May 25- U.S. President Donald Trump expects a tough debate over trade and climate change with other Group of Seven leaders at their forthcoming summit, White House economic adviser Gary Cohn said on Thursday. Trump and the leaders of Japan, Canada, Germany, France, Britain and Italy are due to hold two days of talks in Sicily, with the U.S. president...
BRUSSELS, May 25- A smiling Donald Trump offered European Union chiefs assurances on security in Brussels on Thursday but EU officials did not conceal lingering differences with the U.S. president over Russia, trade and climate change. "The leaders discussed... shared challenges in fighting global terrorism," the White House said in a statement.
May 25- Rayonier Advanced Materials said it would buy Canada's Tembec Inc for $807 million including debt to expand its business into packaging and forest products, sending Tembec's shares to a five-year high on Thursday. The deal comes at a time when Canada is resisting a move by the United States to impose tariffs on Canadian lumber imports.
Ross told a House Appropriations subcommittee that an additional $4.5 million requested by the Trump Administration for the International Trade Administration's enforcement and compliance section will fund 29 new positions whose primary focus will be the self-initiation of antidumping and antisubsidy investigations. Commerce also would get a $1...