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China Accuses US of Bullying on Trade | Brent Crude Hits Four Year High
Published September 25, 2018
China has released a whitepaper on the US China trade dispute, stating they are open to talks, but they expect the US to show sincerity and not “hold a knife” to Beijing’s throat. The US trade restrictions are responsible for the stalled talks and any resumption is up to them, according to Wang Shouwen, China’s Vice Commerce Minister.
Brent crude prices have reached their highest level since November 2014, as looming US sanctions against Iran and unwillingness by the Organization of the Petroleum Exporting Countries to raise output support the market. Brent crude prices have hit a high of $82.20.
ECB President Mario Draghi said inflation is expected to increase further over the coming months as the tightening labour market is pushing up wages, signaling that the European Central Bank is well on track to raise interest rates late next year.
The Canadian government released a new blueprint to reform the World Trade Organization as countries adjust to a newly protectionist America. The US has threatened to leave the organization entirely.