Germany says Trump's tariffs, sanctions destroy jobs and growth

Back us not Brussels on Iran, US ambassador tells Theresa May as he warns British businesses will lose trade

US ambassador says UK should join Trump and put pressure on Iran

Iraq has stopped trading with Iran in the USA dollar after Washington imposed economic sanctions on Tehran, according to the country's central bank on Saturday.

The trade and sanctions disputes are clouding the growth outlook for Germany, Europe's largest economy, but Altmaier said he nonetheless expected strong growth this year due to vibrant domestic demand, record-high employment and rising wages.

Woody Johnson said that America's "closest ally" should reverse its position.

"We are asking global Britain to use its considerable diplomatic power and influence and join us as we lead a concerted global effort towards a genuinely comprehensive agreement".

Until then, America is turning up the pressure and we want the United Kingdom by our side'.

The initial set of sanctions on Iran include a prohibition on Tehran's acquisition and use of United States dollars, trade in gold and other metals, as well as the import into the USA of Iranian carpets and pistachios. It includes prohibiting them from complying with the unilateral USA sanctions.

Asked for comment on Johnson's op-ed, the British foreign office referred to comments made last week by Middle East Minister Alistair Burt.

Woody Johnson
Woody Johnson urged the UK to reconsider its position on Iran

He stated defiantly that Iranians are no longer "blaming the president of a foreign country", but are instead directing their anger at their own administration.

The US pullout has been met with disbelief by European allies, who issued a statement on Monday committing to the 2015 deal and encouraged investors to maintain business ties with Iran.

"While there are sanctions on Iran, it will be hard to preserve the trade relations [with Iran]", Iraqi government spokesman Saad al-Hadithi said.

"Only by presenting a united front can we exert the maximum possible pressure on the Iranian regime and get them to finally change course and put an end to their malign and reckless activities both at home and overseas".

Johnson said Tehran had used money going into the country after the 2015 deal and the easing of sanctions not to improve the lives of ordinary Iranians but to increase spending on the military and proxy forces in the Middle East, including sponsoring Hezbollah in Lebanon, arming militants in Yemen, and launching cyber-attacks against Western democracies. Of all the G-7 leaders at the bruising summit, she largely side-stepped the public skirmishing.

Iraq's Prime Minister Haider al-Abadi is to visit top trading partners Turkey and Iran next week, an official said Saturday, days after Washington slapped new sanctions on Tehran and piled economic pressure on Ankara.

Crocs closing all its factories
Crocs reported strong sales in the second quarter results of 2018, with sales growing 4.7 percent year-on-year to $328 million. In short, the company will need to focus on online sales and its successful warm-weather shoes to stay afloat, Abel said.

Latest News