pcloudy.png
Saturday June 6th, 2020 2:35PM

The Latest: Trump and WTO chief to discuss global trade

By The Associated Press
Related Articles
  Contact Editor

DAVOS, Switzerland (AP) — The Latest on the World Economic Forum in Davos, Switzerland (all times local):

2:35 p.m.

President Donald Trump says the director of the World Trade Organization will be visiting Washington in the next couple of weeks for talks to resolve the U.S. dispute with the WTO.

WTO Director Roberto Azevedo says the organization has not been "functioning properly in many areas." He says that for the WTO to perform its role, it has to be "updated," "changed" and “reformed.”

Azevedo spoke at a news conference alongside Trump on Wednesday at the World Economic Forum in Davos, Switzerland.

Trump says that he's had a "running dispute" with the WTO, partly because it views China and India as developing nations. He says if they are, then so is the United States.

___

2:30 p.m.

The head of JP Morgan Chase bank says “beating up” on oil companies and banks won’t solve man-made climate change, after Greenpeace issued a report criticizing financial firms like his for pumping $1.4 trillion into the fossil fuel industry between the 2015 signing of the Paris climate accord and the end of 2018.

Chairman and CEO Jamie Dimon told The Associated Press at the World Economic Forum in Davos, Switzerland, that everyone is responsible for trying to reduce carbon dioxide in the air - a surplus of which scientists say contributes to global warming.

But like Greenpeace, he agrees governments need to push those efforts along.

“We need business working with government. If you don't have real government policy, you won't solve the problem,” he said. “So beating up on fossil fuel companies and banks will not solve the problem. We need a long-term, thoughtful transition.”

“We need CO2 taxes ... those things will start working. But other than that, all of us are trying very hard to be as clean and responsible as possible," Dimon added.

A day earlier, Greenpeace issued a report called “It’s the finance sector, stupid” - which counted JP Morgan Chase, Citi, Bank of America, RBC Royal Bank and Barclays among 10 banks who account for $1 trillion in fossil fuel finance.

It said banks and pension funds with CEOs attending the elite Davos event together are exposed to fossil fuel companies to the tune of $1.4 trillion.

___

2:15 p.m.

President Donald Trump says the U.S. will soon be adding countries to its much-litigated travel ban.

It's unclear exactly how many countries will be included in any expansion of the ban, but Trump said Wednesday that he would announce shortly that the U.S. will be adding "a couple" of countries to the ban.

He told reporters at the World Economic Forum in Davos, Switzerland, that he's doing it to protect the United States.

The current ban suspends immigrant and non-immigrant visas to applicants from the affected countries, but it allows exceptions, including for students and those who have established "significant contacts" in the U.S.

It represents a significant softening from Trump's initial order, which had suspended travel from Iraq, Iran, Libya, Somalia, Sudan and Yemen for 90 days, blocked refugee admissions for 120 days and suspended travel from Syria.

That order was immediately blocked by the courts, prompting a months-long effort by the administration to develop clear standards and federal review processes to try to withstand legal muster.

Under the current system, restrictions are targeted at countries that the Department of Homeland Security says fail to share sufficient information with the U.S. or haven't taken necessary security precautions, such as issuing electronic passports with biometric information and sharing information about travelers' terror-related and criminal histories.

___

2:05 p.m.

Britain’s Treasury chief said a trade deal with the European Union is the government’s “first priority” even though it is planning to run discussions with the United States in parallel.

At a panel at the World Economic Forum, Sajid Javid said a “new comprehensive free trade agreement” with the EU can be in place by the end of this year, as planned, and that it can include both goods and services.

Britain is leaving the EU on Jan. 31 and is set to remain within the EU single market and customs union through 2020, during which time the sides will discuss future relations like trade.

Javid said that when Britain leaves the EU’s economic arrangements it will have the right to diverge on its rules and regulations.

“As we leave there’s bound to be change but we have also been clear that there’s no point in leaving the EU but sticking with all its rules and regulations forever,” he said.

Though prioritizing trade talks with the EU, Javid said a trade deal with the U.S. is a “huge priority” too.

U.S. Treasury Secretary Steven Mnuchin also said a trade deal with Britain is “a big priority of ours for this year.”

He said he was a “little disappointed” Britain didn’t timetable a trade deal with the U.S. first. “They may be a little harder to deal with than we are anyway,” he quipped.

___

1:55 p.m.

President Donald Trump says 17-year-old environmental activist Greta Thunberg should not focus on the United States, but other continents that are spewing fumes into the atmosphere.

Trump and Thunberg have clashed in the past and did so again this week at the World Economic Forum in Davos, Switzerland.

Trump said Wednesday that he would have loved to have seen the Swedish activist's speech at the gathering, but also said - without mentioning her name - that some people are "unrealistic" about climate change and seek changes that would interrupt people trying to live their lives.

He noted that other countries have dumped tons of garbage into the Pacific Ocean and is now floating toward the United States. Trump says Thunberg should focus on that.

On Tuesday he described climate activists as “perennial prophets of doom.”

Thunberg, who shot to fame a year ago by staging a regular strike at her school and sparked a global environmental movement, wasted no time in coming back at Trump, saying that she and her supporters will not give up.

He announced that the U.S. will join in an initiative to plant 1 trillion trees worldwide. Thunberg says that's nice, but it's “nowhere near enough.”

___

1:05 p.m.

President Donald Trump says U.S. economic growth is the buzz at the World Economic Forum in Davos, Switzerland, but reporters are focused on the impeachment trial underway back in Washington.

Trump held a news conference Wednesday before leaving the gathering of top business and political leaders where he rattled off a long list of positive economic statistics, and then took questions about his impeachment.

He says he'll leave it to the Senate as to whether there will be witnesses called during his impeachment trial.

Trump says in the run-up to the trial, the Democrats talked about the "tremendous case" they had, but “they don't have a case.”

He again called the impeachment a "hoax" and a "witch hunt" that started right after he was elected.

___

12:30 p.m.

The president of the European Union’s executive says the bloc’s move toward a climate neutral continent by 2050 will force its trading partners to put in extra effort if they want to do business with the EU.

EU Commission President Ursula von der Leyen told the World Economic Forum in Davos that “there is no point in only reducing greenhouse gas emissions at home, if we increase the import of CO2 from abroad. It is not only a climate issue; it is also an issue of fairness.”

Von der Leyen wants to avoid a situation where EU countries reduce emissions as part of their ambition to make the continent carbon neutral by 2050, but at the same time import CO2 imbedded in goods.

She said in its attempt to pursue a cleaner and climate neutral economy, the EU also needs to protect its industries and workers. She says a carbon border tax on imports could be necessary, but she would instead prefer that the bloc's global partners match the EU commitments.

French President Emmanuel Macron has been promoting the idea of a carbon tax at the bloc’s borders for countries that did not sign up to the 2015 Paris climate deal agreement and do not regulate CO2 emissions as strictly as the EU does.

12:10 p.m.

A French government official says that France agreed to delay implementation of its tech tax until November as a gesture of goodwill ahead of Wednesday's discussions in exchange for an American promise to drop threats of new tariffs.

The official says France is not shelving or suspending the tax, and that digital companies will still pay some kind of tax on their 2020 French revenues. The official says it will either be the French tax or a new international one brokered by the OECD.

The official spoke on condition of anonymity because a public announcement has not been made yet on the move.

___By Jamey Keaten.

___

12 noon

U.S. Treasury Secretary Steven Mnuchin downplayed talk that trade discussions with China will be wrapped up by this November’s U.S. presidential election.

Speaking at a panel at the World Economic Forum in the Swiss resort of Davos, Mnuchin said there is “no deadline” to the so-called Phase 2 discussions.

Last week, the U.S. and China signed off a Phase 1 agreement, which eases some sanctions on China while Beijing has agreed to step up its purchases of U.S. farm products and other goods. However, many issues remain unresolved and tariffs imposed by President Donald Trump over the past couple of years remain in place.

Mnuchin said “we couldn’t be more pleased” with both the Phase 1 agreement and the conclusion of trade negotiations with Canada and Mexico. He said “a lot of important issues” were dealt with in Phase 1, which “gives us a great advantage in Phase 2.”

He said there was “no question” that tariffs and the threat of tariffs have been a “big incentive” in the trade agreements.

He also hinted that a grand trade agreement with China may not come in one go and that there may be a series of smaller agreements.

___

11:35 a.m.

Turkish Foreign Minister Mevlut Cavusoglu said Wednesday Russia has the responsibility to halt the Syrian government's attacks a day after airstrikes on rebel-held parts of northwestern Syria killed at least 17 people.

The airstrikes and shelling were part of a Syrian government offensive on the northwestern province of Idlib, the last rebel stronghold in the country, and the rebel-held parts of nearby Aleppo province.

The strikes came amid continued violence despite a new cessation of hostilities agreement between Russia and Turkey went into effect earlier this month.

"Russia is the guarantor of the (Syrian) regime," Cavusoglu told a panel at the World Economic Forum, in Davos, Switzerland. "Russia is obliged to stop this aggression."

The government offensive has displaced hundreds of thousands of people, many of whom fled to areas closer to the border with Turkey. Dozens of fighters have been killed on both sides in recent days as clashes intensified.

Cavusoglu said: “The situation in Idlib is our main focus because the regime has been increasing its aggression... Already, 400,000 people have been displaced and moved toward our border.”

The Turkish minister said Turkey will continue to work with Russia in Syria, despite standing on opposing sides of the conflict.

Idlib province is dominated by al-Qaida-linked militants. It's also home to 3 million civilians and the United Nations has warned of the growing risk of a humanitarian catastrophe along the Turkish border.

___

9:55 a.m.

Hopes are rising that a breakthrough in discussions on how to tax digital companies will emerge at the World Economic Forum on Wednesday.

José Ángel Gurría, the secretary general of the Organization for Economic Co-operation and Development group of leading industrial nations, told The Associated Press that he expects there to be a solution as “there is no plan B.”

The OECD has been seeking to come up with a framework that would allow France to suspend its plans to tax companies like Amazon and Facebook. In return, the U.S. is expected to agree to a multilateral approach.

French Finance Minister Bruno Le Maire and U.S. Treasury Secretary Steven Mnuchin are both set to meet in the gathering of the elites in the Swiss ski resort of Davos.

“We just need to continue to work on the multilateral solution and then deliver an option to the whole of the world, produced by the whole of the world and therefore hopefully that is accepted by the whole of the world," Gurría said.

  • Associated Categories: Associated Press (AP), AP Elections, General Election News, General Presidential Election News, AP World News, AP Business, AP World News - International incidents, AP Business - Economy
© Copyright 2020 AccessWDUN.com
All rights reserved. This material may not be published, broadcast, rewritten, or redistributed without permission.
The Latest: Trump and WTO chief to discuss global trade
President Donald Trump says the director of the World Trade Organization will visit Washington in the next couple of weeks for talks to resolve the U.S. dispute with the WTO
8:35AM ( 11 minutes ago )
The Latest: JP Morgan CEO defends his bank's climate record
The head of JP Morgan Chase bank says “beating up” on oil companies and banks won’t solve man-made climate change
8:30AM ( 16 minutes ago )
Democrats swarm industrial Iowa to prove they can beat Trump
Democratic White House hopefuls are campaigning in the more than two dozen Iowa counties that went from supporting Barack Obama in 2012 to supporting Donald Trump in 2016
8:23AM ( 22 minutes ago )
Associated Press (AP)
Awake? Senators struggle to stay focused on impeachment
Some senators are struggling to pay attention to President Donald Trump's impeachment trial
6:36AM ( 2 hours ago )
The Latest: US Treasury chief: "No deadline" for China talks
U.S. Treasury chief Steven Mnuchin downplayed talk that trade discussions with China will be wrapped up by this November’s U.S. presidential election
6:09AM ( 2 hours ago )
Stay awake: Senators struggle to stay focused on impeachment
Some senators are struggling to pay attention to President Donald Trump's impeachment trial
1:33AM ( 7 hours ago )
AP Elections
Far from Senate, Biden largely avoids impeachment politics
Democratic presidential candidate Joe Biden has mostly sidestepped President Donald Trump's impeachment trial as he campaigns in Iowa this week
4:50PM ( 15 hours ago )
The Latest: Biden capitalizes on impeachment while in Iowa
Democratic presidential candidate Joe Biden is capitalizing on President Donald Trump's impeachment trial as he campaigns in Iowa, even though he’s not mentioning it directly
3:59PM ( 16 hours ago )
The Latest: Buttigieg wants to question Trump on bone spurs
Democratic presidential candidate Pete Buttigieg is openly questioning the medical deferment that President Donald Trump cites as a reason for not serving in the military during the Vietnam War
3:52PM ( 16 hours ago )
General Election News
Hillary Clinton says 'nobody likes' Bernie Sanders
Hillary Clinton says “nobody likes” her former presidential rival Bernie Sanders, even as the Vermont senator remains among the front-runners in the Democratic race
11:42AM ( 21 hours ago )
Buckle up: What to watch as impeachment trial takes off
Senators like to float above messy politics in what's known by some as the dignified “upper chamber," home of Congress' cooler heads and lofty rhetoric
11:10AM ( 21 hours ago )
The Latest: Greenpeace decries Trump's approach to climate
Greenpeace’s international executive director, Jennifer Morgan, says that U.S. President Donald Trump's lack of focus on environmental issues will hit him where it hurts - money
10:31AM ( 22 hours ago )
General Presidential Election News
Years after SARS, a more confident China faces a new virus
Nearly two decades after the disastrously handled SARS epidemic, China’s more open response to a new virus signals its growing confidence and greater awareness of the pitfalls of censorship, even though the government remains as authoritarian as ever
7:40AM ( 1 hour ago )
Italy's 5-Star implosion may claim party leader Di Maio
Italy's 5-Star Movement leader has met with ministers amid rumors he would step aside as party leader following a string of parliamentary defections, falling poll numbers and questions about the party's future
7:40AM ( 1 hour ago )
The Latest: Trump tries to keep focus on economy in Davos
President Donald Trump says U.S. economic growth is the buzz at the World Economic Forum in Davos, Switzerland, but reporters are focused on the impeachment trial underway back in Washington
7:04AM ( 1 hour ago )
AP World News
Trump lauds US economy at Davos forum, slams impeachment
President Donald Trump is leaving the World Economic Forum in Switzerland with bullish talk on the American economy and lashing out at his Senate impeachment trial back in Washington
7:35AM ( 1 hour ago )
France to put on hold digital tax plan, meet with US
France has agreed to put on hold a tax on big tech companies' digital businesses until November
7:16AM ( 1 hour ago )
Automaker Daimler sees full-year earnings sag by half
The maker of Mercedes-Benz luxury cars says its earnings fell by about half last year
6:31AM ( 2 hours ago )
AP Business
Violence escalates in Beirut as protesters clash with police
Lebanese security forces have fired tear gas, water cannons and rubber bullets in clashes in Beirut with hundreds of anti-government protesters outside Parliament as violence escalated in a week of rioting
3:53PM ( 2 days ago )
Iran's top leader strikes defiant tone amid month of turmoil
Iran's supreme leader has lashed out at Western countries while leading Friday prayers in Tehran for the first time in eight years
6:02PM ( 4 days ago )
EU border chief says migrant entries from Turkey on the rise
The European Union's border agency Frontex says the number of migrants entering Europe from Turkey has jumped sharply, with more than 82,000 people, mostly from Syria and Afghanistan, entering in 2019
11:48AM ( 4 days ago )
AP World News - International incidents
Asian shares higher after selloffs spurred by Chinese virus
Shares have advanced in early Asian trading after a slide in U.S. stocks overnight as a virus outbreak in China rattled global markets
11:07PM ( 9 hours ago )
New government in crisis-hit Lebanon, but protests continue
A new Cabinet has been announced in crisis-hit Lebanon, breaking a months-long impasse amid mass protests against the country's ruling elite
9:50PM ( 10 hours ago )
US stocks close lower amid jitters over virus outbreak
Banks led a slide in U.S. stocks Tuesday as a virus outbreak in China rattled global markets, prompting investors to shift assets into bonds and defensive sector companies
8:54PM ( 11 hours ago )
AP Business - Economy
The Latest: JP Morgan CEO defends his bank's climate record
The head of JP Morgan Chase bank says “beating up” on oil companies and banks won’t solve man-made climate change
8:30AM ( 16 minutes ago )
Democrats swarm industrial Iowa to prove they can beat Trump
Democratic White House hopefuls are campaigning in the more than two dozen Iowa counties that went from supporting Barack Obama in 2012 to supporting Donald Trump in 2016
8:23AM ( 22 minutes ago )
The Latest: Trump says US will add countries to travel ban
President Donald Trump says the U.S. will soon be adding countries to its much-litigated travel ban
8:13AM ( 33 minutes ago )
Monty Python star Terry Jones dies at 77
Terry Jones, a member of the Monty Python comedy troupe, has died at 77
8:10AM ( 35 minutes ago )
The Latest: Trump tells Thunberg to put her focus elsewhere
Britain’s Treasury chief saysa trade deal with the European Union is the government’s “first priority” even though it is planning to run discussions with the United States at the same time
8:05AM ( 41 minutes ago )