Protesters have been growing increasingly restless over a Russian trade agreement.
Global Trade & Economy
The Bali agreement is the first WTO trade deal since the organization started in 1995.
Treasury Secretary Jack Lew will tout the Dodd-Frank financial reform law in a broad policy speech in Washington on Thursday and will call for international reforms to prevent banks from leveraging one nation's financial system against others.
The U.S. trade deficit narrowed in October as exports hit a record high, boosted by the nation's expanding energy sector.
The trade gap fell to $40.6 billion in October, 5.4 percent below the September deficit of $43 billion, the Commerce Department said Wednesday.
The heads of two Senate committees are expressing concern over a supply deal between Chinese telecom giant Huawei and South Korea.
Senate Foreign Relations Committee Chairman Robert Menendez (D-N.J.) and Senate Intelligence Committee Chairwoman Dianne Feinstein (D-Calif.) asked the Obama administration to assess the "potential threats and security concerns" of the deal, according to Reuters.
Vice President Joe Biden and Japanese Prime Minister Shinzo Abe agreed Tuesday that their two nations need to move forward this year toward completing an Asia-Pacific trade deal.
While each leader acknowledged the difficulty in melding priorities for the 12 nations involved in negotiations of the Trans-Pacific Partnership (TPP), they expressed optimism in finding solutions and reaching an agreement as scheduled by year's end.
A top Senate Republican is urging U.S. trade officials to move forward on an Asia-Pacific trade deal with only those countries willing to adopt the highest standards.
Senate Finance Committee ranking member Orrin Hatch (Utah) sent a letter to U.S. Trade Representative Michael Froman on Monday night suggesting that he wrap up work on the 12-nation Trans-Pacific Partnership (TPP) by year's end with those willing to maintain high standards in areas such as intellectual property.
The CEO of Huawei, a Chinese telecommunications company accused of spying, said he's giving up on the U.S. market.
In a Nov. 25 interview with French journalists, Huawei CEO Ren Zhengfei said "it's not worth it" if the company gets in the middle of U.S.-China relations.
"Therefore, we have decided to exit the U.S. market, and not stay in the middle," he said, according to Foreign Policy, citing a Chinese transcript of the interview.
The fine print of President Obama's temporary deal with Iran could pave the way for a surge in trade, The Wall Street Journal reports.
Obama administration takes a more aggressive tack on expanding global trade.