India Is Considering 50 Percent Iran Oil Cut to Win U.S. Waiver

India, the second biggest crude customer for Iran, may cut its imports from the Islamic republic by half to secure a waiver from the U.S. to continue with shipments, people familiar with the matter said. Officials from the U.S. had discussed the issue of a conditional waiver on sanctions in talks last month in New
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Chinese copper fabricators and importers are scrambling to divert or resell cargoes of U.S. copper scrap en route to China after Beijing hit such imports with a 25-percent duty as the trade row with Washington deepens, sources said. U.S. scrap metal, waste paper and plastics cargoes arriving in China from Aug. 23 will incur the
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The Trump administration forecasts that it will persuade countries to cut Iranian oil imports by as much as 1 million barrels a day when it reimposes energy sanctions in early November, according to two people familiar with the administration’s efforts to choke off Tehran’s crude sales. The assessment forecasts a range of likely cuts of
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Trade conflicts are nothing new in U.S. economic history, and they invariably go through the same tired cycle. Initially the United States intended to limit competition and bulwark its economy, but quickly ended up damaging the wider economy. The Great Depression of the 1930s is a perfect case in point. Under economic pressure, President Herbert
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The Chinese government’s top diplomat, State Councillor Wang Yi, said the response by Beijing to U.S. trade measures were necessary and legitimate, a day after announcing retaliatory tariffs on $60 billion worth of U.S. goods. Speaking on the sidelines of a Southeast Asian conference also attended by the U.S. Secretary of State Mike Pompeo, Wang
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European capital goods companies are starting to show the strain of Washington’s trade conflicts with China and other countries, as tariffs push up costs for machine parts and raw materials and threaten to worsen supply bottlenecks. Makers of machines that rely on thousands of small parts from around the world – from Swedish lawnmower maker
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China’s Unipec, the trading arm of state oil major Sinopec, has suspended crude oil imports from the United States due to a growing trade spat between Washington and Beijing, three sources familiar with the situation said on Friday. The sources declined to be identified as they are not authorised to speak to the media. It
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The U.S. has been unable to persuade China to cut Iranian oil imports, according to two officials familiar with the negotiations, dealing a blow to President Donald Trump’s efforts to isolate the Islamic Republic after his withdrawal from the 2015 nuclear accord. Beijing has, however, agreed not to ramp up purchases of Iranian crude, according
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China’s steel futures pulled back after hitting their highest level since 2013 on Wednesday as news that the United States could slap higher tariffs on $200 billion of imported Chinese goods halted a rally that pushed prices 10 percent last month. But traders say Beijing’s sustained campaign to curb industrial production, including steel, to fight
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The European Commission has published the latest figures on EU imports of soybeans, showing an increase of 283% in imports of soybeans from the U.S., bringing the EU’s total share of imports of U.S. soybeans to 37%, up from 9% one year ago. President Juncker has now put in place a bi-monthly reporting mechanism on the evolution
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