Washington, June 20 (IANS) World leaders, including those from the G7, along with senior US lawmakers, welcomed a memorandum signed between the United States and Iran, with supporters describing it as a breakthrough that could reopen the Strait of Hormuz, ease regional tensions and advance negotiations over Tehran’s nuclear programme.The White House said President Donald Trump and Vice President JD Vance had secured a Memorandum of Understanding with Iran that would ensure Tehran “will never obt…
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Washington, June 18 (IANS) US Vice President J.D. Vance on Thursday delivered a blunt warning to critics of the Trump administration’s Iran agreement, saying that efforts to undermine the deal could jeopardise a rare opportunity to stabilise the Middle East after months of conflict. Speaking at the White House, Vance defended the agreement against criticism from some Israeli Ministers and Republican lawmakers, saying many opponents had misunderstood its terms.”So many of what I’ve read or heard …
Washington, June 3 (IANS) US Secretary of State Marco Rubio vigorously defended the Trump administration’s restructuring of US foreign assistance programmes, rejecting Democratic criticism that cuts to aid and the dismantling of parts of the foreign aid bureaucracy have weakened America’s global influence and contributed to humanitarian suffering.Appearing before the House Appropriations Subcommittee on National Security, Department of State and Related Programs, Rubio argued that the administra…
Washington, May 7 (IANS) More than 50 Republican lawmakers have urged the Trump administration to block Chinese automotive and battery companies from manufacturing in the United States, arguing that such a move would threaten American jobs, supply chains and national security.In a letter led by Representatives Mike Kelly and Gus Bilirakis, the lawmakers asked Treasury Secretary Scott Bessent, Commerce Secretary Howard Lutnick and US Trade Representative Jamieson Greer to reject any effort by Chi…
Washington, April 25 (IANS) A group of Republican lawmakers has introduced legislation to pause the issuance of H-1B visas for three years and overhaul the programme, arguing it has disadvantaged American workers.The proposed “End H-1B Visa Abuse Act of 2026”, introduced by Eli Crane, seeks to reset the visa system before resuming it with stricter rules.“The federal government should work for hardworking citizens, not the profit margins of massive corporations. We owe it to the American pe…
Washington, March 31 (IANS) Republican lawmakers used a coordinated House floor debate to push for new laws targeting Sharia law, saying “seven bills stand ready” to ensure no foreign religious code enters the US legal system.The hour-long special order was led by Keith Self and Chip Roy, co-chairs of the Sharia Free America Caucus, which lawmakers said has grown rapidly since its launch three months ago.Self told the House that the caucus now has “60 members” from “25 states across th…
Washington, March 3 (IANS) The White House told Republican lawmakers on that “America will win” and that “the terrorist Iranian regime will be defeated,” as it defended President Donald Trump’s decision to launch major combat operations against Iran under “Operation Epic Fury.”In an eight-page guidance circulated to lawmakers, the administration said Trump had ordered “major combat operations against the Iranian Regime” with clear and achievable goals.The stated objectives incl…
Washington, Feb 6 (IANS) The US Treasury is betting that stablecoins backed by government securities can strengthen the global role of the dollar, with Treasury Secretary Scott Bessent defending new legislation on digital assets before Congress.Testifying before the Senate Banking Committee, Bessent praised the GENIUS Act, which requires stablecoins to be backed by high-quality liquid assets such as US Treasuries.“This framework has the potential to expand dollar dominance, increase global dem…
Washington, Feb 5 (IANS) The United States is moving to revive small and community banks, arguing that years of heavy regulation weakened local lending and slowed economic growth, Treasury Secretary Scott Bessent told Congressmen. Testifying before the House Financial Services Committee on Wednesday (local time), Bessent said community banks are critical to small businesses, agriculture, and housing, but have steadily disappeared since the global financial crisis.“More than 50 per cent of comm…
Washington, Feb 5 (IANS) Artificial intelligence is becoming a new focus for US financial regulators. Treasury Secretary Scott Bessent told Congress that AI can strengthen markets, but it also poses risks that require close monitoring.Bessent was testifying before the House Financial Services Committee on the Financial Stability Oversight Council’s 2025 annual report. He said AI is now one of the four top priorities for protecting the financial system. The others are Treasury markets, cybersec…