U.S. import prices recorded their biggest drop in seven months in March as the cost of petroleum declined, but the underlying trend pointed to a moderate rise in imported inflation as the dollar's rally fades.
Germany urged the European Union on Friday to consider filing a complaint with the World Trade Organization (WTO) against the United States over its plan to impose duties on imports of steel plate from five EU member states.
The world's financial leaders will renounce competitive devaluations and warn against exchange rate volatility, but they have not yet found a common stance on trade and protectionism, a draft statement of their meeting in Germany showed on Friday.
Major U.S. corporations are going to war in Washington over a Republican 'border adjustment' tax proposal meant to boost exports over imports, with lawmakers in Congress coming under pressure from some of the nation's biggest employers.
U.S. President Donald Trump on Thursday spoke positively about a border adjustment tax being pushed by Republicans in Congress as a way to boost exports, but he did not specifically endorse the proposal.