New Delhi, July 23 (IANS) India reaffirmed its commitment to an open, transparent and WTO‑consistent multilateral trade regime at the country’s Eighth Trade Policy Review (TPR), which concluded on Thursday at the World Trade Organization in Geneva. In his closing statement to the WTO Membership, Commerce Secretary Rajesh Agarwal highlighted India’s commitment to an open, transparent and predictable trade and investment regime. He underlined that India’s tariff reforms, customs simplifica…
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Washington, July 22 (IANS) The Trump administration on Wednesday claimed its trade strategy had sharply reduced America’s economic dependence on China, with US Trade Representative Jamieson Greer telling lawmakers that the bilateral goods trade deficit had fallen to its lowest level in two decades. Testifying before the Senate Finance Committee, Greer said President Donald Trump’s tariff-driven trade policy had begun reshaping trade flows away from China while encouraging domestic manufacturing …
Washington, July 22 (IANS) The United States was “extraordinarily negligent” as China expanded its military, intelligence and technological capabilities over the past 25 years, former White House national security adviser H.R. McMaster told Congress.Testifying before the House Intelligence Committee, McMaster said Washington’s understandable focus on counterterrorism after the September 11 attacks allowed its counterintelligence posture to fall behind.“The counterintelligence threat has …
Washington, July 11 (IANS) China has warned that it could take retaliatory measures after the United States launched trade investigations targeting dozens of economies, including China, over forced labour and alleged industrial overcapacity.The Chinese Embassy said Beijing was strongly dissatisfied with the US action and had lodged formal representations with Washington. It accused the US of abusing its domestic trade law and disrupting global supply chains.“We will closely monitor the progres…
Washington, July 9 (IANS) Global economic institutions said that the world economy has remained broadly resilient despite the shock from the war in the Middle East, but warned that uncertainty remains high and urged continued international cooperation to safeguard trade, energy supplies and economic stability. The International Energy Agency (IEA), International Monetary Fund (IMF), World Bank Group (WBG) and World Trade Organization (WTO) issued a joint statement after a meeting of their high-l…
Washington, May 30 (IANS) US President Donald Trump ended a two-hour Situation Room meeting on a proposed Iran agreement without announcing a decision, media reports said.Trump had earlier said he would make a “final determination” on a proposal aimed at extending a ceasefire with Iran, reopening the Strait of Hormuz and launching negotiations over Tehran’s nuclear programme.However, after the meeting concluded, the White House offered no indication that a final decision had been reached.CNN rep…
New Delhi, May 23 (IANS) India has consistently supported the accession of developing countries and ‘Least Developed Countries’ to the World Trade Organization (WTO), signing the bilateral accession protocol in Geneva in the context of Ethiopia’s accession to the WTO.According to Commerce Ministry, the protocol was signed by Ambassador and Permanent Representative of the Republic of India to the WTO, Dr Senthil Pandian C., on behalf of India, and Ambassador and Permanent Representative of …
New Delhi, May 14 (IANS) Commerce and Industry Minister Piyush Goyal on Thursday held a productive discussion with senior leaders and policymakers from Germany on strengthening India-Germany economic cooperation and advancing the India-EU trade partnership.“The discussions focused on strengthening the business environment, enhancing investment flows, and deepening collaboration across key sectors including textiles, pharmaceuticals, renewable energy, mobility and manufacturing,” Goyal posted…
Seoul, May 7 (IANS) South Korea has called on the international community to jointly respond to the recent spread of trade restrictive measures by major economies in a high-level meeting of World Trade Organization (WTO) member nations, the trade ministry said on Thursday.Kwon Hye-jin, director general for trade negotiations at the Ministry of Trade, Industry and Resources, attended the WTO’s General Council meeting held for two days beginning Wednesday (local time) in Geneva, as the chief repre…
Taipei, May 1 (IANS) Taiwan has accused China of smuggling vegetables into the self-ruled island through Vietnam to avoid import restrictions, with officials pledging to impose a crackdown on a practice they termed “origin washing.” Taiwan, which has prohibited import of over 1,000 Chinese agricultural and fishery products, said companies in China were avoiding restrictions by rerouting vegetables like Napa cabbage and shiitake mushrooms through Vietnam, British daily newspaper, The Guardian rep…