Trade War

The U.S. Treasury Department on Friday announced sanctions against a Saudi official and group of individuals for their alleged roles in the murder of journalist Jamal Khashoggi.

The head of European planemaker Airbus called on Saturday for a “ceasefire” in a transatlantic trade war over aircraft subsidies, saying tit-for-tat tariffs on planes and other goods had aggravated damage from the COVID-19 crisis.

Treasury Secretary nominee Janet Yellen left the door open to keeping U.S. tariffs on China in place for now at her Senate confirmation hearing this week, but said America should "work with our allies rather than unilaterally" to "address unfair trade practices."

Outgoing U.S. Trade Representative Robert Lighthizer said he expects the Biden administration to replicate many of President Trump's trade policies.

A shortage of computer chips is curbing production for automakers around the world. 

The new rules come amid an ongoing backlash against various Chinese companies from foreign governments, especially the United States.

White House trade and economic adviser Peter Navarro predicted Friday that Joe Biden will "reverse engineer" President Trump's successes and cause social and economic turmoil, as well as potential long-term stagflation.