Washington, June 5 (IANS) US President Donald Trump has said the United States and India are moving towards a trade agreement, while describing Prime Minister Narendra Modi as a “good friend” and signalling confidence that the two countries will reach a deal.Speaking at the White House during an event focused on coal and energy policy, Trump said on Thursday that trade negotiations with India were progressing despite his long-standing criticism of India’s tariff regime.Asked about reports th…
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Washington, June 3 (IANS) US Trade Representative (USTR) Jamieson Greer has said that President Donald Trump’s administration will release results of its trade investigations into dozens of trading partners, including South Korea, China and Japan, “over the next few weeks.”Greer made the remarks in a CNBC interview, as the investigations have been in progress under Section 301 of the 1974 Trade Act to uncover “unfair” trade practices related to “structural” excess capacity and production, and to…
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 …
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…
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…