Latest news with #protectionism
CTV News
9 hours ago
- Business
- CTV News
Canada's trade negotiations with the U.S. is like the ‘mouse and the elephant': Business analyst
Watch Business analyst Ian Lee says U.S. President Trump is using tariffs as a 'sledgehammer' to push Canada into removing 'protectionist' measures.
Malay Mail
3 days ago
- Business
- Malay Mail
China's Premier Li Qiang warns global trade frictions are rising, urges cooperation at Summer Davos
TIANJIN, June 25 — Chinese Premier Li Qiang warned on Wednesday that global trade tensions were 'intensifying' as he addressed the opening ceremony of the World Economic Forum in the northern city of Tianjin. Officials including Singaporean Prime Minister Lawrence Wong are attending this week's gathering in the port city, which is known colloquially as the 'Summer Davos'. Li said the global economy was 'undergoing profound changes' -- a thinly veiled reference to swingeing tariffs imposed by US President Donald Trump. 'Protectionist measures are significantly increasing and global economic and trade frictions are intensifying,' Li added. 'The global economy is deeply integrated and no country can grow or prosper alone,' Li said. 'In times when the global economy faces difficulties, what we need is not the law of the jungle where the weak fall prey to the strong, but cooperation and mutual success for a win-win outcome,' Li said. Beijing's number two official also painted a bullish picture of the Chinese economy, the world's second-largest, which has been beset by slowing growth and a lull in consumer spending. 'China's economy continues to grow steadily, providing strong support for the accelerated recovery of the global economy,' he said. Beijing, he added, was 'stepping up our efforts to implement the strategy of expanding domestic demand'. This was 'promoting China's growth into a major consumption powerhouse based on the solid foundation of a major manufacturing powerhouse'. — AFP
Bloomberg
18-06-2025
- Business
- Bloomberg
Australian PM Says Europe Trade Deal Is ‘Symbolically Important'
Expanding trade ties between Australia and the European Union would be 'symbolically important' in an environment of rising protectionism, Prime Minister Anthony Albanese said Wednesday, as the two sides also plan talks on a defense agreement. Albanese told reporters he held trilateral discussions with European Commission President Ursula von der Leyen and Antonio Costa of the European Council on the sidelines of a Group of Seven summit in Canada. The security partnership — which he said he hopes to conclude 'pretty quickly' — will be an important framework for co-operation in defense, cybersecurity and counter-terrorism.
Wall Street Journal
16-06-2025
- Business
- Wall Street Journal
‘The Triumph of Economic Freedom' Review: A Few Lessons From History
Since 2015, American politics has been riven by deep splits over economic policy. The tilt toward free markets that began in the mid-1970s and lasted roughly until the election of Barack Obama is a thing of the past. Virtually every laissez-faire position on topics ranging from trade to regulation has been challenged by an assortment of conservative economic nationalists, progressive populists and so-called neomercantilists. This last crowd includes close advisers to the current U.S. president. The debate isn't exclusively about ideas and theory. It's also, perhaps mainly, about history. When making their case for protectionism, for example, today's economic nationalists insist that tariffs were central to the U.S. economy's takeoff in the late 19th century. Critics of that position (Douglas A. Irwin of Dartmouth, among others) contend, with better evidence, that America's explosive growth in those decades had little to do with tariffs. If anything, tariffs retarded growth in the sectors in which they were highest. Today's tariff proponents, however, seem largely uninhibited by facts. The reason is simple. They've worked out that if you control the historical narrative surrounding economic questions, you are more than halfway toward winning the policy battles. This is the insight Phil Gramm and Donald J. Boudreaux bring to 'The Triumph of Economic Freedom.' In their words, 'he who writes history determines the future.' The writing of American economic history, they argue, has long been dominated by skeptics of capitalism peddling myths that nonetheless retain potency and, predictably, populate high school and college textbooks. In eight chapters, Messrs. Gramm and Boudreaux tackle seven longstanding historical myths about American capitalism that still influence economic discussion today. In each case, they are careful not to caricature the conventional wisdom they challenge.
Arab News
16-06-2025
- Business
- Arab News
EU chief calls at G7 for world to ‘avoid protectionism'
KANANASKIS, Canada: EU Commission chief Ursula von der Leyen on Sunday called on G7 leaders to avoid protectionist trade policies as leaders from the industrialized countries arrived at their annual summit. 'Let us keep trade between us fair, predictable and open. All of us need to avoid protectionism,' von der Leyen said at a press briefing, with US President Donald Trump's tariff onslaught certain to enter the conversations at the three-day event.
