New Delhi, May 24 (IANS) India and the United States are close to finalising a long-awaited bilateral trade agreement that will be “beneficial”, “sustainable”, and aligned with the national interests of both countries, US Secretary of State Marco Rubio said on Sunday.He also underlined that the broader India-US strategic partnership continues to move in a positive direction despite trade-related differences witnessed over the past year.Rubio made the remarks after holding extensive talks with Ex…
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Washington, May 16 (IANS) The high-profile summit between US President Donald Trump and Chinese President Xi Jinping delivered symbolism and strategic messaging but produced few concrete breakthroughs, according to leading China experts at the Council on Foreign Relations (CFR).The experts said the Beijing summit helped stabilise tensions temporarily after last year’s bruising trade confrontation, but failed to resolve deeper disputes over Taiwan, technology controls, tariffs, rare earth miner…
New Delhi, May 8 (IANS) The recently-concluded India-New Zealand Free Trade Agreement (FTA) is not only seen by the global media as a significant step forward for the two democracies in strengthening bilateral economic relations, but also a major move to correct the disruption in global trade caused by the tariff turmoil triggered by the US. According to an article in South Africa’s Independent Online (IOL), the FTA is a “leap forward in right-setting global trade following US President Donald…
Washington, May 8 (IANS) Brazilian President Luiz Inacio Lula da Silva said that he urged US President Donald Trump to pursue dialogue with Iran and handed him a copy of a 2010 nuclear agreement brokered by Brazil and Turkey, as the two leaders concluded a closed-door White House meeting focused on trade, tariffs and global conflicts.Speaking later at the Brazilian Embassy in Washington on Thursday, Lula said he told Trump that “dialogue” was more effective than war and warned that military …
Washington, May 6 (IANS) The United States trade deficit widened in March as imports outpaced exports, even as the American goods gap with India narrowed compared to the same period last year, according to official data.The US Census Bureau and the Bureau of Economic Analysis said the overall goods and services deficit rose to $60.3 billion in March, up $2.5 billion from a revised $57.8 billion in February.US exports in March stood at $320.9 billion, an increase of $6.2 billion from February, wh…
Washington, May 5 (IANS) US President Donald Trump said tariffs would remain a central tool of US trade policy, signalling tougher measures against China and other countries he accused of undercutting American businesses.Speaking at the White House, Trump said domestic firms had been hurt by cheaper imports. “You’re getting hurt by China and other countries making a product that’s not as good, but it’s less money,” he said ahread of his trip to China later this month.He argued that tar…
Washington, May 5 (IANS) US President Donald Trump said small businesses are the “lifeblood of the American economy”, highlighting tax cuts, deregulation and tariffs as key drivers of growth during remarks at the White House.Speaking at an event marking National Small Business Week, Trump said the sector plays a central role in economic activity. “The people in this room represent the 36 million small businesses who create 40 per cent of all economic activity in the United States,” he sa…
Brussels, May 2 (IANS) The European Union (EU) will “keep options open” to protect its interests if the United States takes measures inconsistent with the joint statement between the two sides signed last year on reciprocal, fair and balanced trade, a European Commission spokesperson told Xinhua.”We remain fully committed to a predictable, mutually beneficial transatlantic relationship. Should the US take measures inconsistent with the Joint Statement, we will keep our options open to protect EU…
New York, May 1 (IANS) US President Donald Trump announced that he will remove tariffs on Scottish whisky to celebrate the connection between the United States and Britain as King Charles III winds up his four-day visit to the United States.”In Honor of the King and Queen of the United Kingdom … I will be removing the Tariffs and Restrictions on Whiskey having to do with Scotland’s ability to work with the Commonwealth of Kentucky on Whiskey and Bourbon, two very important Industries within Sc…
New Delhi, April 27 (IANS) New Zealand’s Minister for Trade and Investment, Todd McClay, said that the FTA signed with India on Monday will be put before his country’s Parliament as early as tomorrow to fast-track the process so that it can come into force within this year.”We will start very, very quickly. We hope to have it enter into force before the end of the year, and then it will be fully implemented over about a seven-year period. Over the next few months, we will all be working very…