A draft executive order to withdraw the United States from the North American Free Trade Agreement is under consideration, a senior Trump administration official said on Wednesday, confirming an earlier report from Politico.
Oil prices edged lower on Wednesday ahead of data that will shed light on U.S. crude inventories after an industry report indicated a surprise build in fuel stocks, underscoring the persistence of global oversupply.
China says its Silk Road initiative is helping create "a new era of globalization" open to all, according to a draft communique for a summit next month on the project, as Beijing burnishes its free trade credentials amid protectionist forces elsewhere.
Europe's claim to be the global champion of open trade and a counterweight to the threatened protectionism of U.S. President Donald Trump risks ringing hollow if it cannot sign a new Pacific free trade deal by the end of 2017.
World stocks hit a record high on Wednesday after strong earnings and the prospect of tax cuts for corporate America boosted U.S. shares and the euro held on to recent gains as political concerns in France ebbed.
U.S. President Donald Trump will release a tax plan on Wednesday proposing some deep rate cuts, mostly for businesses, including a slashed corporate income tax rate and steeply discounted tax rate for overseas corporate profits brought into the United States, officials said.