Economy

By Rachel Tesler Published August 25, 2019 Europe FOXBusiness Facebook Twitter Comments Print video Boris Johnson on Brexit: Steadfastly committed to leaving the EU British Prime Minister Boris Johnson discusses Brexit in his first statement to Parliament. British Prime Minister Boris Johnson and President Trump are efforting a post-Brexit free trade deal, but the U.K. leader warned they could not rush negotiations at the G-7 summit in Biarritz, France this weekend. Continue Reading Below While early reports revealed that the U.S. would open its borders to U.K. needs in the months after Britain leaves the European Union, bilateral trade discussions have proven more challenging. Before trade talks, Trump whole-heartedly supported Johnson’s Britain and his charge for Brexit. “We’re going to do a very big trade deal - bigger than we’ve ever had with the UK,” Trump said. “At some point, they won’t have … [Read more...] about As Brexit looms, will US craft trade deal with Britain?

Published August 25, 2019 Politics FOXBusiness Facebook Twitter Comments Print article U.S President Donald Trump, right, with Japanese Prime Minister Shinzo Abe, speaks during a bilateral meeting at the G-7 summit in Biarritz, France, Sunday, Aug. 25, 2019. (AP Photo/Andrew Harnik) In bilateral meetings with allies Japan and Canada, President Trump expressed optimism on securing trade deals with both countries. Continue Reading Below Meeting with Japanese Prime Minister Shinzo Abe, Trump said the two could have a deal by the end of the G-7 summit in France. “It’s a major deal with Japan, if it gets done, we’ll possibly know by the end of this meeting.” Speaking through a translator, Abe explained it was fair to call the relationship with the U.S. “robust.” The agreement would tackle U.S. access to the beef and pork production markets, with a deal that would reduce tariffs on Japanese auto parts shipped to … [Read more...] about At G-7, Trump optimistic on trade deals with Canada, Japan

Published August 25, 2019 Trade War FOXBusiness Facebook Twitter Comments Print article French President Emmanuel Macron, center left, and President Donald Trump, center right, participate in a G-7 Working Session on the Global Economy, Foreign Policy, and Security Affairs the G-7 summit in Biarritz, France, Sunday, Aug. 25, 2019. Also Expand President Trump assured reporters at the G-7 there’s no pressure from allies to give up his trade tactics against China. Continue Reading Below “No, not at all,” he said during a breakfast meeting with U.K. Prime Minister Boris Johnson. “I think they respect the trade war.” Explaining that he can only speak for the U.S., Trump reiterated his stance that previous presidents’ relations with China “allowed [China] to get away with taking billions of dollars” from the U.S. The president is emphatic that his strategy with China – the more tariffs the … [Read more...] about Trump on US-China trade war: No pressure from world leaders

Nguyen Mai, Chairman of Vietnam Association of Foreign- Invested Enterprises (VAFIE) Nguyen Mai, Chairman of the Vietnam Association of Foreign- Invested Enterprises (VAFIE), assumed that if the country does not increase its right to select proper investors for foreign direct investment (FDI) projects, it could fail to meet the target of attracting FDI with the aim of changing the economic structure and renewing the growth model as well. Mai underscored the need to select FDI projects in accordance with the Resolution No. 50-NQ/TW newly signed by Party General Secretary Nguyen Phu Trong, in order to ensure both FDI quantity and quality and prevent the transfer pricing of foreign investors and those making use of legal loopholes as mentioned within the resolution. The VAFIE chairman reiterated major targets of the resolution. The Politburo stated that the average registered investment capital stood at US$30-40 billion per year during the … [Read more...] about US$300 billion in FDI remains undisbursed

By Jonathan Garber Published August 23, 2019 China FOXBusiness Facebook Twitter Comments Print video Crowds gather in heart of Hong Kong Crowds gather during an event in the central heart of Hong Kong. Thousands of people took to the streets of Hong Kong Friday evening to form a human chain as a means of peaceful protest amid the recent chaotic outbreaks of violence that have occured as Hong Kongers push back against what they say is overreach from Beijing. Continue Reading Below The protests, which have extended into their 11th week, aren’t just shutting down businesses and key stretches of Hong Kong’s streets, they’re also choking off the lifeblood of its tourism industry: visits from the mainland. China accounts for 76 percent of Hong Kong’s tourists, according to the government. “Tourist arrivals for the first ten days of August are down more than 30% YoY while hotel occupancy in some cases has declined … [Read more...] about Hong Kong protests are decimating its economy