Washington, July 1 (IANS) The Trump administration on Wednesday refused to renew the United States-Mexico-Canada Agreement (USMCA), opening negotiations to rewrite key parts of President Donald Trump’s signature North American trade pact while insisting it remains in force during the review process. The decision came after representatives of the United States, Mexico and Canada held the first mandatory six-year joint review of the agreement, which entered into force in 2020. While Washington dec…
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Washington, June 11 (IANS) President Donald Trump has cast a fresh doubt on the future of the United States-Mexico-Canada Agreement (USMCA), saying he is not certain he will renew the North American trade pact when it comes up for review during his current term. Speaking at the White House after signing the Secure America Act on Wednesday (local time), Trump said the agreement’s most important feature was not the trade provisions themselves but the fact that it allows the United States to revisi…
Washington, Aprril 30 (IANS) Surging oil prices driven by the Middle East conflict are clouding the US Federal Reserve’s economic outlook, with policymakers warning of rising inflation and uneven global impact, particularly on energy-dependent regions such as Asia. Federal Reserve Chair Jerome Powell said higher energy costs are already feeding into inflation, complicating the central bank’s policy path. “Inflation has moved up and is elevated, in part reflecting the recent increase in glo…
Washington, April 16 (IANS) As a fresh energy shock from the Persian Gulf conflict risks deepening vulnerabilities across major economies, the global imbalances are widening again, top officials from the IMF and policymakers warned.Speaking at a high-level panel on Wednesday (local time), IMF Managing Director Kristalina Georgieva said “imbalances have been coming and going in waves” and are now “on the rise again,” with major surplus economies including China, Germany and Japan facing o…
Washington, April 3 (IANS) The White House said that new trade agreements, including with India, have helped rebalance global trade and reduce US deficits under Donald Trump’s tariff strategy.Marking one year since what it calls “Liberation Day”, the White House said the US economy is now more resilient, competitive and secure.“One year ago today, President Trump threw away the illusions of ‘free trade’ to finally put Americans and America First,” White House spokesman Kush Desai s…
Washington, Feb 7 (IANS) The United States and India announced a framework for an Interim Agreement on reciprocal, mutually beneficial trade, a step aimed at advancing talks toward a broader bilateral trade pact, as the White House formally announced to reduce the tariff on imports of Indian products from 25 per cent to 18 per cent.According to a joint statement, the framework reaffirms both sides’ commitment to negotiations on a US-India Bilateral Trade Agreement. Those talks were launched by P…