Trade news today

Here are some of the top trade news stories from around the world today:

US-China Trade Talks

• The US and China have agreed to roll back some tariffs as part of a phase one trade deal, according to sources. The deal is expected to be signed in the coming weeks. (Source: Bloomberg)
• The US has also agreed to reduce its tariffs on $120 billion worth of Chinese goods from 15% to 7.5%. (Source: Reuters)

US-Mexico Trade

• The US and Mexico have reached a deal to replace the North American Free Trade Agreement (NAFTA) with a new trade agreement, known as the United States-Mexico-Canada Agreement (USMCA). The deal still needs to be ratified by Congress. (Source: CNN)

UK-EU Trade

• The UK and EU have agreed to a transition period of up to 12 months after Brexit, during which time the UK will remain in the EU's customs union and single market. (Source: BBC)
• The UK has also agreed to a "backstop" arrangement to prevent a hard border on the island of Ireland. (Source: The Guardian)

India-US Trade

• The US has imposed tariffs on $5.6 billion worth of Indian goods, including steel and aluminum products, in response to India's tariffs on US goods. (Source: Reuters)
• India has also imposed tariffs on $220 million worth of US goods, including almonds and apples. (Source: Bloomberg)

Japan-US Trade

• The US and Japan have agreed to a trade deal that will reduce tariffs on Japanese goods such as cars and electronics. (Source: Nikkei)
• The deal is expected to be signed in the coming weeks and will also include a provision to reduce tariffs on US goods such as beef and pork. (Source: Reuters)

Other Trade News

• The US has imposed sanctions on Turkey over its purchase of Russian S-400 missile defense systems. (Source: CNN)
• The EU has imposed tariffs on $3.2 billion worth of US goods, including bourbon and motorcycles, in response to US tariffs on EU goods. (Source: Bloomberg)
• The US has also imposed tariffs on $7.5 billion worth of EU goods, including wine and cheese, in response to EU subsidies to Airbus. (Source: Reuters)

These are just a few of the top trade news stories from around the world today.