Washington, June 24 (IANS) US Senate Democrats accused President Donald Trump of allowing foreign financial interests to intersect with US national security policy, alleging that the United Arab Emirates received a series of favourable decisions after investing heavily in the Trump family’s cryptocurrency business.A report released by Democratic staff of the Senate Banking, Housing and Urban Affairs Committee, led by Ranking Member Elizabeth Warren, alleges that UAE-linked officials and entities…
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Washington, June 19 (IANS) Two senior US senators from opposing political parties have urged the Trump administration to take stronger action against what they described as China’s continued currency manipulation, arguing that Beijing’s policies are distorting global trade and hurting American workers and manufacturers.In a letter sent to Treasury Secretary Scott Bessent following this week’s G7 summit in Evian, France, Democratic Senator Elizabeth Warren and Republican Senator Rick Scott called…
Washington, June 12 (IANS) US lawmakers from both parties warned that America risks losing its technological edge to China unless it strengthens safeguards around artificial intelligence, as a Senate hearing highlighted growing concerns over national security, jobs and the rapid expansion of AI.At a Senate Banking Committee hearing on artificial intelligence, Chairman Tim Scott said the United States must ensure that AI strengthens the economy while preventing rivals such as China from gaining a…
Washington, June 9 (IANS) Two senior Democratic senators have urged the Trump administration to restore proposed port fees on Chinese ships, arguing that the move is essential to rebuilding America’s shrinking shipbuilding industry and reducing dependence on China in a sector increasingly viewed as critical to national security.In a letter to US Trade Representative Jamieson Greer, Senators Elizabeth Warren and Mark Kelly said the administration should reinstate Section 301 fees and restrictions…
Washington, May 28 (IANS) US Senator Elizabeth Warren has accused President Donald Trump of using his recent China trip to benefit billionaire allies and corporate donors, saying the visit amounted to “a corruption tour disguised as diplomacy”.The report, released by the minority staff of the Senate Banking, Housing and Urban Affairs Committee led by Warren, alleged that Trump’s China policy favoured wealthy business interests over American workers, farmers and families.“President Trump …
Washington, May 6 (IANS) A group of US senators has accused the Trump administration of handing Russian President Vladimir Putin a financial windfall by pausing sanctions on Russian oil exports during a global energy crisis.In a letter to Treasury Secretary Scott Bessent, 13 top Democratic senators urged the Trump administration to immediately restore sanctions on Russian oil deliveries and intensify efforts to curb Moscow’s energy revenues amid the ongoing Ukraine war.“We urge the Trump Adm…
Washington, March 31 (IANS) Senior US lawmakers have pressed the Commerce Department to release detailed data on exports of American-made semi-automatic weapons, citing concerns that such sales are fuelling criminal violence abroad.In a letter to Under Secretary of Commerce for Industry and Security Jeffrey Kessler, Senator Elizabeth Warren and Representative Gregory Meeks said US firearm exports account for a significant share of crime guns traced globally.Data from the Bureau of Alcohol, Tobac…
Washington, March 12 (IANS) More than 40 US senators have demanded answers from the Pentagon over the bombing of a girls’ school in Iran that reportedly killed at least 168 people, most of them children, during the opening phase of the Trump administration’s war against Iran.In a letter to Defence Secretary Pete Hegseth, the lawmakers said they were writing with “grave concern regarding the airstrikes on a girls’ elementary school that reportedly killed at least 168 people — mostly chil…
Washington, Feb 28, (IANS) President Donald Trump’s decision to launch military strikes in Iran has sparked intense political debate in the US. Senior Democrats have called the action unauthorised and reckless, while Republican lawmakers defend it as decisive and necessary. Lawmakers have described the strikes as expansive and pre-emptive, reigniting debate over war powers, strategy, and the risk of broader conflict in the Middle East.“Overnight, the president conducted expansive U.S. strike…
Washington, Feb 28 (IANS) US banking regulators defended sweeping efforts to recalibrate capital rules and formalise crypto oversight as senators clashed over Basel reforms, political “debanking” and consumer safeguards in a hearing with global implications for capital flows and digital finance.Senate Banking, Housing, and Urban Affairs Committee Chairman Tim Scott said regulation must focus strictly on financial risk.“No law — no lawful business in Anderson, South Carolina or anywhere in…