China can damage US economy in a full-scale trade war if it is willing to take the pain. The threat of a full-scale trade war between the US and China has dominated the news in recent weeks. The countries have exchanged import tariffs on each other's goods, and are threatening further protective steps. [...]

These measures will only affect products that have analogues in Russia, Minister of Economic Development of the Russian Federation, Maxim Oreshkin said. "Because the US continues to apply protective measures in the form of additional import duties on steel and aluminum and refuses to provide compensation for Russia's losses, Russia is using its WTO rights and introducing balancing measures with re [...]

A serious breakup between the US and Canada is unlikely, Canadian journalist and political consultant John Bosnitch told Sputnik, explaining the Trump-Trudeau row and the US president's fight against left-wing globalist clique ruling in Europe and NATO. [...]

German carmakers may be pushed out of the United States as President Donald Trump wants to stop them from cruising through New York, according to German magazine Wirtschaftswoche. It cited several unnamed European and US diplomats claiming that Trump told his French counterpart Emmanuel Macron in April he would stick to his trade policy for long enough until no Mercedes-Benz models were rolling do [...]

The US is force-feeding Europe its liquefied natural gas, which is three times more expensive that buying it from Russia, Austrian President Alexander Van der Bellen said after signing a gas-supply contract with Moscow until 2040. While US politicians are accusing Europe of being dependent on Russian gas, they forget that “American liquefied gas is two or three times more expensive than Russian [...]

Some member countries of the World Trade Organization (WTO) want to create an appeal mechanism that would prevent the US vetoing decisions it dislikes, according to Russian Economy Minister Maksim Oreshkin. By September four seats will be vacant at the Appellate Body, the WTO appeals chamber, leaving three judges out of the necessary seven. [...]

WASHINGTON (Sputnik) - The newly imposed tariffs by the Trump administration on steel and aluminum imports from EU, Canada, and Mexico represent abuse of power, US Senate Foreign Relations Committee Chairman Bob Corker said in a statement. "Imposing steel and aluminum tariffs on our most important trading partners is the wrong approach and represents an abuse of authority intended only for nationa [...]

Unable to win concessions from from its trading partners ahead of the Friday deadline, the US has introduced tariffs on steel and aluminum imports from Canada, Mexico and the European Union. The new 25 percent tariff on steel imports and 10 percent tariff on aluminum imports from the EU, Canada and Mexico come into force at midnight (04:00 GMT, Friday), according to US Commerce Secretary Ross. [...]

By trying to bring an end to the Russo-European Nord Stream 2 project, the US is pursuing its own economic interests rather than taking care of Europe's energy security. Washington is seeking to boost sales of its own expensive liquefied natural gas to Europe, thus undermining the Old Continent's competitiveness. [...]

The global economy is facing a threat of a spiraling protectionist measures that can lead to a devastating crisis, Vladimir Putin warned. Nations must find a way to prevent this and establish rules on how the economy should work. The Russian president spoke out against the growing trend of using unilateral restrictions to achieve economic advantage, as he addressed guests of the St. Petersburg Int [...]

On May 15, President Vladimir Putin attended the inauguration of a strategic 19-kilometer bridge along the Kerch Strait, linking Crimea to the Russian mainland. This key infrastructure project is a major step forward in bolstering the Crimean Peninsula’s economy, and encouraging trade and access to other parts of the Russian Federation. [...]

As more countries pay for oil in yuan, the standing of the Chinese currency in global finance has grown, an analyst tells RT. However, its future path won’t be completely smooth, he warns. “If people started to pay for oil in yuan, central banks would need to hold reserves in yuan, leading to a massive increase in the global demand for yuan, reducing the cost of financing the Chinese economy,� [...]

In late May, President Donald Trump warned that if the European Union does not remove tariffs and trade barriers against the United States soon, his administration will place a 20 percent tariff on all cars coming from the EU. [...]

President Xi Jinping shrewdly counters coming trade war with surprise offer to purchase America outright. President Donald Trump claimed on Monday that he working on “a huge deal with China that will bring more than $30 trillion into America. No president has ever done anything like this before and it’s all because of my tariff pressure! SMART!” In a series of tweets, Mr. Trump also called t [...]

Beijing continues to lure away the handful of countries which still maintain diplomatic ties with Taiwan. On Tuesday, the Dominican Republic became the latest country to break away from Taipei and establish diplomatic relations with mainland China. Sputnik Mundo has discussed the reasons behind this dramatic U-turn and its potential impact for the region with Andrei Sidorov, an assistant professo [...]

The US Treasury Department sanctions aimed at Russian-based RUSAL may have made a splash in the wrong direction, as companies from US allies in Europe have had to deal with supply disruptions. Layoffs and further difficulties are looming. [...]

Russia's Federation Council is looking to adopt counter-sanctions against the US, under which the country may ban exports of titanium components to aircraft giant Boeing, according to Russian Senator Sergey Ryabukhin. "Among the rare earth metals that Russia supplies to the United States is titanium, which is necessary for the technological cycle of production of Boeing," Ryabukhin told RIA Novost [...]

BP, the company behind the deadly Deepwater Horizon oil spill disaster, the biggest in history, has claimed an oil spill off the South Australian coast would be a good thing, as the clean up would boost local economies. BP made the outlandish claim as part of its bid to drill for oil in the pristine Great Australian Blight. [...]

In a spectacular contortion of logic, British Petroleum - seeking highly-profitable licenses to drill for offshore oil in southern Australia - claimed that destructive chemical spills would be a boon to coastal communities. [...]

After paying billions in fines over an emissions-cheating scandal in the US, Volkswagen now has to park thousands of bought-back diesel automobiles at nearly 40 facilities across America. The German automaker has paid over $7.4 billion to buy back nearly 350,000 diesel vehicles in the US as of February, according to the court filing, seen by Reuters. [...]

The price of the traditional safe haven gold increased on Monday after Beijing introduced retaliatory measures against American goods coming to China. After falling in the past three trading sessions, the yellow metal surged over $8 per troy ounce to $1,335. [...]

Beijing is hiking up tariffs on more than 128 US imports, including fruit and pork, as part of a tit-for-tat response to US President Donald Trump’s $60 billion package of tariffs imposed against China. The additional fares, which range from 15 to 25 percent, will take effect on Monday, the Chinese Finance Ministry said on their website. [...]