Canadian Trade Deficit Widens in August to Second Highest
Canada's merchandise trade deficit widened in August to C$6.32 billion ($4.53 billion), its second highest on record, as exports both to the U.S. and the rest of the world fell, data showed on Tuesday.The August data had been expected to show a more permanent impact of U.S. President Donald Trump's tariffs on Canada, after exports increased earlier in the year to beat the tariffs and then dropped off sharply.Total exports dropped by 3% in August from July while imports increased 0.9%, Statistics Canada said.
South Korea, Vietnam Pledge Deeper Cooperation With Each Other as US Tariffs Shake Up Trade
South Korea and Vietnam's leaders pledged to deepen economic cooperation on Monday as their export-dependent countries try to shore up longstanding supply chains as U.S. President Donald Trump's tariffs shake up global trade.There was no public discussion of the levies - 15% on South Korean products going to the U.S.
Cautious Optimism on US, China Tariff Truce
U.S. and Chinese officials said on Tuesday they had agreed on a framework to get their trade truce back on track and remove China's export restrictions on rare earths while offering little sign of a durable resolution to longstanding trade tensions.At the end of two days of intense negotiations in London, U.S. Commerce Secretary Howard Lutnick told reporters the framework deal puts "meat on the bones" of an agreement reached last month in Geneva to ease bilateral retaliatory tariffs…
