A cargo ship owned by Yang Ming departs New York harbor on April 9, 2018.
The economic theory of comparative cost advantage is more akin to natural law -- it can’t be wished away. And during the ongoing trade war ignited by Donald Trump, it has never been more relevant.
Heinz is why ketchup seemed to become distinctly American.
Canada recently slapped a tariff on US exports of the tomato-based condiment, and the EU plans to do the same, perhaps on the notion that it's distinctly American. In fact, ketchup’s origins are global, as are its fans.
The U.S. is the biggest destination for Chinese foreign investment.
Jason Lee/Pool Photo via AP
Chinese investment in the US has never been high, but the ongoing trade war could dampen it further, with significant long-term repercussions.
Kentucky bourbon is among the products targeted with retaliatory tariffs by the EU.
AP Photo/Jeff Chiu
Trump has started a trade war with China and much of the world. Here's what you need to know.
A jumble of steel scrap.
If the US were to stop dumping these valuable metals in landfills and to cease exporting them as cheap scrap, its imports could fall, and there would be less of these metals being made from scratch.
Heads of state attended the G7 summit in La Malbaie, Quebec, on June 9, 2018. Top row: European Council president Donald Tusk, UN Secretary-General António Guterres, International Monetary Fund Managing Director Christine Lagarde. Bottom row: Seychelles President Danny Faure, French President Emmanuel Macron and German Chancellor Angela Merkel. US president Donald Trump’s recent protectionist moves were at the top of the agenda.
After the G7 fiasco, it's clear that a trade war is in the making. US justifications of "national security concerns" for its tariffs suggest a legitimate target for EU countermeasures: coal.
Trump against the world?
Jesco Denzel/German Federal Government via AP
International trade policy requires three traits to be successful and lead to mutual prosperity. Trump's is missing all three, as he showed at the G-7 summit.
US tariffs could potentially benefit some EU firms that rely on steel and aluminium.
Prime Minister Justin Trudeau meets with U.S. President Donald Trump in the Oval Office of the White House in Washington, D.C. in October 2017. Trump’s tariffs on Canadian aluminum and steel simply reflect a broader U.S. philosophy on international trade, and that doesn’t bode well for Canada.
THE CANADIAN PRESS/Sean Kilpatrick
The underlying problem with Donald Trump's tariffs on steel and aluminum isn't Trump. It's the increasing willingness by the U.S. to impose its will on its neighbours amid rising economic nationalism.
Don’t forget your friends.
AP Photo/Evan Vucci
The Trump administration recently imposed tariffs of up to 25 percent on foreign steel and aluminum – including from the EU, Canada and Mexico, the three biggest markets for American goods.
South African President Cyril Ramaphosa and his team meeting international investors and business leaders in London.
GCIS/ Elmond Jiyane
South Africa's relations with the US could sour under President Trump.
Tariffs like those Trump is about to sign are the wrong way to fight intellectual property theft.
Unfair competition law offers a more effective, targeted strategy to persuade China to play by the rules.
A farmer harvest his soybean field in Loami, Ill.
AP Photo/Seth Perlman
There's a good reason China took aim at US soybean exports when it announced its latest list of retaliatory tariffs.
Trump may have launched first salvo in a trade war.
AP Photo/Ng Han Guan
The $60 billion in tariffs targeting China not only risks sparking a trade war, they represent a rejection of the WTO's much more effective way of dealing with unfair trade practices.
Business such as California winemakers could be hurt by the new tariffs as a result of retaliation.
AP Photo/Mark Schiefelbein
While the tariffs are unlikely to stem Chinese intellectual property theft or reverse the steep trade deficit, they are certain to hurt American companies and consumers.
A finished steel coil is marked with its information by a worker at a mill in Farrell, Pennsylvania.
President Trump's new tariffs suggest he doesn't understand why American steel and aluminum have been hurt in the first place.
Foreign goods wait to be unloaded at the Port of Los Angeles.
AP Photo/Nick Ut
A global trade war seems well underway as China and the US exchange targeted tariff attacks. An economist explains what they are, how they work and why they matter.
Former U.S. president Richard Nixon is seen here with Pierre Trudeau in Ottawa in 1972. Nixon was bitterly opposed to Canada’s Auto Pact moves 50 years ago, saying Canada had cheated at the expense of American jobs and investment. He refused calls to exempt Canada from an import surcharge.
(THE CANADIAN PRESS)
U.S. President Donald Trump has exempted Canada, for now, from hefty tariffs on steel. An increase in defence spending would likely stand Canada in greater stead with the president.
Bush, seen here in 2006, revoked his steel tariffs less than two years after imposing them in 2002.
President Trump slapped steep tariffs on steel imports, echoing protectionist measures taken by Bush in 2002.
A welder fabricates a steel structure at an iron works facility in Ottawa on March 5, 2018. U.S.President Donald Trump’s stated intention to impose new tariffs on steel and aluminum imports could start a trade war.
THE CANADIAN PRESS/Sean Kilpatrick
Ottawa seems utterly unprepared for a trade war with the United States. The recent federal budget upholding equity values is noble, but won't mean a thing if the government runs out of cash.