Washington, April 23 (IANS) US Trade Representative Jamieson Greer mounted a strong defence of the Trump administration’s trade policy, telling lawmakers that tariffs and aggressive negotiations were beginning to deliver tangible gains for American workers and industry.Appearing before the House Ways and Means Committee, Greer said the administration’s approach marked a decisive break from past policies that, in his view, encouraged offshoring and weakened domestic manufacturing.“We’re exp…
Latest Trade deficit News & Updates
New Delhi, April 16 (IANS) The trade deficit widening has been pushed out rather than avoided, a report showed on Thursday, adding that if the energy shock persists and Brent oil prices stays elevated, the deficit is likely to widen in the coming months.India’s goods trade deficit came in at $20.7 billion in March, much lower than last month’s $27 billion deficit. The March deficit is usually slightly narrower, but markets expected it to widen this time as Brent is up 60 per cent YoY due to the …
Bogota, April 11 (IANS) Colombia’s trade ministry said that it will raise tariffs on imports from neighboring Ecuador to 100 per cent from 30 per cent, matching a decision made a day earlier by Quito, as tensions between the two countries escalate.Trade Minister Diana Morales said on Friday in a statement that Ecuador’s latest tariff hike from 50 per cent to 100 per cent forced Colombia to align its policy, accusing the Quito move of distorting competition and harming domestic producers of both …
Washington, April 3 (IANS) The United States recorded a goods trade deficit of $54.91 billion with India over the past 12 months, placing it among Washington’s top deficit partners even as the overall US trade gap widened in February, according to official data.The monthly figures showed the US trade deficit rose to $57.35 billion in February, up $2.67 billion from January, though still 11 percent below the 12-month average.The increase came as imports grew faster than exports. Total exports s…
New Delhi, March 20 (IANS) Economic fragility in Pakistan has reached a critical stage following the US–Israel war with Iran due to the drastic escalation in oil prices and the surge in the trade gap, a Pakistani media report said.In terms of per capita income, economic growth rate, dwindling exports and low foreign exchange reserves, Pakistan is in dire straits, according to an article in the Lahore-based Friday Times.Pakistan’s economic fragility is reflected in its GDP growth rate, which …
Washington, March 2 (IANS) The White House on Monday unveiled President Donald Trump’s 2026 Trade Policy Agenda, declaring that “America is back” and vowing to deepen tariffs, enforce trade laws, and renegotiate key agreements to reduce what it calls a national emergency driven by record trade deficits. The 2026 agenda argues that “the United States currently runs the largest trade deficit in human history,” after offshoring 5 million manufacturing jobs and losing more than 70,000 f…
Washington, Jan 29, (IANS) India remained among the United States’ key trading partners in November as the US trade deficit widened sharply, due to higher imports and a decline in exports, according to official data released on Thursday. The U.S. Census Bureau and the U.S. Bureau of Economic Analysis said the U.S. goods and services trade deficit rose to $56.8 billion in November, nearly double the revised $29.2 billion recorded in October.A trade deficit occurs when a country imports more goo…
Washington, Jan 28 (IANS) President Donald Trump declared that inflation “has been defeated” and the US border is “totally closed” as he pitched tariffs, tax cuts, and new trade claims in a political push he said is aimed at winning the midterm elections.Speaking to supporters in Iowa on Tuesday, Trump said his administration had delivered “the most dramatic one-year turnaround of any country in history,” arguing that the US economy had rebounded rapidly after what he described as a …
New Delhi, Jan 23 (IANS) Pakistan’s exports plummeted by 20.4 per cent in December 2025, marking the fifth consecutive monthly decline that reflects the deep-rooted economic crisis plaguing the country, according to official figures.Exports contracted to approximately $2.32 billion from nearly $2.91 billion in December 2024. Imports, on the other hand, continued to expand, rising by about 2 per cent to $6.02 billion, pushing the monthly trade deficit up by nearly 24 per cent to $3.7 billion, a…
Seoul, Jan 21 (IANS) South Korea’s exports expanded 14.9 per cent from a year earlier in the first 20 days of this month, driven by strong demand for semiconductors, data showed on Wednesday.Outbound shipments reached US$36.36 billion in the January 1-20 period, compared with $31.63 billion tallied over the same period last year, according to the data from the Korea Customs Service, reports Yonhap news agency.Imports increased 4.2 per cent on-year to $36.98 billion during the period, resulting i…