Trade

Major Trade Wars Since the 19th Century

As the world reels from US President Donald Trump's tariff onslaught, here is a look back at some major trade wars since the 19th century: 19th century Opium Wars In the mid-19th century, two conflicts over the opium trade, which became known as the Opium Wars, pitted China against the British Empire. The first began in 1839, when Britain ...

EU Offers US Zero Tariffs for Cars and Other Industrial Goods

European Commission President Ursula von der Leyen said on Monday the EU had offered the United States a bilateral tariff exemption for cars and other industrial goods as it works to avert an all-out transatlantic trade war. "We stand ready to negotiate with the United States. Indeed, we have offered zero-for-zero tariffs for industrial goods, as ...

Fresh Trump Tariffs to Take Effect on April 5 and 9

President Donald Trump's sweeping new tariffs on US trading partners are set to begin this weekend, said White House officials Wednesday, with a higher rate on "worst offenders" to take effect next week. Declaring that a "national emergency" stemmed from security concerns due to persistent trade deficits, the White House ...

Trump Warns Will Hold Tehran Responsible for Any Houthi Attacks

President Donald Trump declared on Monday that he will hold Iran directly responsible for any future attacks by Yemen's Iran-backed Houthis, who have targeted multiple US and other foreign ships in the Red Sea. "Every shot fired by the Houthis will be considered, from this point forward, as a shot fired from the weapons and leadership of IRAN, ...

Minister of Economy Launches Electronic Service for Market and Exhibition Organizers

The Minister of Economy and Trade, Amer Bsat, announced in a statement the launch of a new electronic service that allows market and exhibition organizers in Lebanon to submit their license applications online. This initiative is part of the ministry's digital transformation project, aimed at simplifying procedures and enhancing ...

China's Counterattack: Punitive Tariffs in Retaliation to Trump

Shortly after taking office, US President Donald Trump imposed a 10% tariff increase on Chinese goods, raising the total duties on imports from China to 20%. Trump criticized China for not doing enough “to curb the flow of fentanyl, a potent opioid, into the US,” as stated by the White House on X. In retaliation, the Chinese government ...

Global Trade War... Trump's Tariffs Upsetting the World

In his longest-ever speech before Congress, US President Donald Trump addressed several domestic and foreign issues, calling for the beginning of the “America’s Golden Age” and the strengthening of its sovereignty and independence. He emphasized that the United States “will remain free and independent.” As he delivered his speech, Trump ...

Trade Exchange Between Lebanon and the European Union: Decline in Exports and Imports in 2024

Lebanon entered into the Partnership Agreement with the European Union in March 2003. On November 11, 2016, the Partnership Priorities and the Mutual Package between Lebanon and the European Union were approved, aiming to enhance mutual interests and improve economic cooperation. According to the latest trade figures in a report prepared by the ...

Trump Says Trade Deal with China 'Possible' 

US President Donald Trump suggested on Wednesday that a trade deal was "possible" with China – a key target in the US leader's tariffs policy. In 2020, the United States had already agreed to "a great trade deal with China" and a new deal was "possible," Trump told reporters. One month into his second term in office, Trump has threatened ...

Tariff Crisis: Trump Redefines Global Trade

The Trump administration has disrupted the global economy with a series of dramatic announcements and last-minute negotiations, imposing new tariffs on key trading partners – Canada, Mexico and China. While Canada and Mexico secured temporary reprieves through emergency agreements, China remains entrenched in a fierce tariff standoff. Amid ...