91��Ƶ

The Trump administration has no formal proposal on the table for a so-called reciprocal tax on imports, according to a U.S. official who sought to clarify whether a levy that risks escalating tensions with key trading partners would be enacted.

President Donald Trump said Feb. 12 that he will propose a tax on imports this week, reviving an idea he floated earlier in his administration that risks raising tensions with key U.S. trade partners.

The U.S. trade deficit widened to the biggest monthly and annual levels since the last recession, underscoring the inherent friction in President Donald Trump’s goal of narrowing the gap while enjoying faster economic growth.

The European Union gave President Donald Trump a fresh warning about any U.S. curbs on imports from Europe by pledging rapid retaliation, highlighting the persistent risk of a trans-Atlantic trade war.

The U.S. trade deficit in November reached the highest level in almost six years as an increase in imports exceeded a gain in shipments overseas, Commerce Department data showed Jan. 5.

Factories across the globe warned they are finding it increasingly hard to keep up with demand, potentially forcing them to raise prices as the world economy looks set to enjoy its strongest year since 2011.

The push to salvage a Pacific Rim trade pact will come to a head this week as nations diverge on whether it should be preserved, abandoned or renegotiated from scratch after President Donald Trump pulled the U.S. out of the deal.

U.S. negotiators on Oct. 12 presented a proposal for a so-called “sunset clause” that would see the North American Free Trade Agreement expire after five years unless the parties can agree to extend it, according to two people familiar with the talks.

Improving global demand and a weaker dollar are helping boost U.S. exports, with the trade deficit narrowing to an 11-month low in August, Commerce Department data showed Oct. 5.

Representatives of the United States, Mexico and Canada declared “progress” but unveiled no breakthroughs at the conclusion Sept. 5 of a second round of talks to revise the North American Free Trade Agreement