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US President Donald Trump to examine trade imbalances with over 15 countries, including China and India

Trump has signed executive orders to address UsA's increasing imbalanced trade deficit

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US President Donald Trump, VOA

Washington, Mar 31, 2017: US President Donald Trump is again ready to take actions regarding South Asia, especially India and China.He has signed executive orders instructing his administration to examine the cause of trade imbalances with over 15 countries, including China and India.

As Donald Trump is soon to meet his Chinese counterpart Xi Jinping,it is being assumed that the prime target of these orders is China. However, Commerce Secretary Wilbur Ross, during his interaction with White House reporters, insisted that the executive order expected to be signed today is not just about China.

It is about all major countries with which the United States has significant trade deficit.
Having a look at statistics, The US has a massive trade deficit of USD 347 billion with China, followed by Japan (USD 68.9), Germany (USD 64.9), Mexico (USD 63.2 billion), Ireland (USD 35.9 billion) and Vietnam (USD 32 billion)and India(USD 24 billion).
“This is not meant to say that everybody on this little list is an evil doer. That’s not the case,” Ross said, noting that China is the number one source of trade deficit.

As per the executive order, Ross said President would instruct the Department of Commerce and the US Trade Representative to review and report back to him within 90 days on actionable items to reduce the trade deficits, mentioned PTI.

Echoing similar views, Peter Navarro, Director of White House National Trade Council, said, “Nothing we’re saying tonight is about China. Let’s not make this a China story. This is a story about trade abuses.”
“This is a story about under-collection of duties, this is a story about 40 countries that basically subsidise their products and send them into our country or dump their products, and this is about collecting those products and defending American workers and manufacturing,” Navarro said.

According to Navaro, USD 2.8 billion in import taxes imposed against violators of US anti-dumping laws have gone uncollected since 2001.

“For the first time, we’re looking at what’s been the source of the large and persistent trade deficit that has contributed to job losses,” he said.

-prepared by Nikita Tayal of NewsGram Twitter @NikitaTayal6

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Sulabh International unveils World’s biggest Toilet Pot model

The NGO gave 95 new household toilets to the residents of the village.

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Sulabh launched biggest pot toilet models
Sulabh International in working towards improving sanitation. Wikimedia Commons

Sulabh International on Sunday launched the “world’s biggest” toilet pot model in Haryana’s Marora village — popularly known as ‘Trump village’ — on the occasion of World Toilet Day.

As per a release by the non-profit, the mega Indian-style pot, made of iron, fibre, wood and plaster of Paris, measuring 20×10 feet, was unveiled to create awareness about the use of toilets in the village dedicated to US President Donald Trump.

Sanitation expert and founder of Sulabh International, Bindeshwar Pathak, also dedicated 95 new household toilets to the residents of the village.

“This large pot replica will be shifted to Delhi’s Sulabh Toilet Museum,” the release quoted Pathak as saying.

He said the idea behind naming a village after Trump was to highlight the issue of sanitation and cleanliness globally.

Puneet Ahluwalia, a member of the ruling Republican Party in the US, said that such an initiative would go a long way to motivate masses towards cleanliness and safe sanitation. (IANS)

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Exposed! Paradise Papers reveal Tax-haven Secrets of the Super-rich! Even Queen Elizabeth II hasn’t been spared!

The publication of this investigation for which more than 380 journalists have spent a year combing through data that stretches back 70 years comes at a time of growing global income inequality.

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Paradise Papers expose tax haven secrets of ultra-wealthy, including Queen Elizabeth. The details come from a leak of 13.4 million files that expose the global environments in which tax abuses can thrive - and the complex and seemingly artificial ways the wealthiest corporations can legally protect their wealth. VOA

London, November 6, 2017 : A huge new leak of financial documents has revealed how the powerful and ultra-wealthy including Britain’s Queen Elizabeth II’s private estate secretly invest vast amounts of cash in different offshore tax havens, media reports said on Monday.

The details come from a leak of 13.4 million files in the Paradise Papers on Sunday that expose the global environments in which tax abuses can thrive – and the complex and seemingly artificial ways the wealthiest corporations can legally protect their wealth.

The material which has come from two offshore service providers and the company registries of 19 tax havens was obtained by the German newspaper Süddeutsche Zeitung and shared by the International Consortium of Investigative Journalists (ICIJ) with 100 other media organisations including the Guardian, the BBC and The New York Times.

Some of the revelations in the Paradise Papers include millions of pounds from Queen Elizabeth II’s private estate that has been invested in a Cayman Islands fund and some of her money that went to a retailer accused of exploiting poor families and vulnerable people.

Paradise Papers detail extensive offshore dealings by US President Donald Trump’s cabinet members advisers and donors including substantial payments from a firm co-owned by Russian President Vladimir Putin’s son-in-law to the shipping group of the US Commerce Secretary Wilbur Ross.

The leak shows how social media giants Twitter and Facebook received millions in investments that can be traced back to Russian state financial institutions along with aggressive tax avoidance by multinational corporations including Nike and Apple.

It also includes information about a tax-avoiding Cayman Islands trust managed by the Canadian Prime Minister Justin Trudeau’s chief wealth manager.

The leak also includes how some of the biggest names in the film and TV industries protect their wealth with an array of offshore schemes and the complex offshore webs used by two Russian billionaires to buy stakes in Arsenal and Everton football clubs.

The disclosures will put pressure on world leaders including Trump and British Prime Minister Theresa May who have both pledged to curb aggressive tax avoidance schemes.

The publication of this investigation for which more than 380 journalists have spent a year combing through data that stretches back 70 years comes at a time of growing global income inequality.

Offshore finance is about a place outside of one’s own nation’s regulations to which companies or individuals can reroute money assets or profits to take advantage of lower taxes reports the BBC.

These jurisdictions are known as tax havens to the layman or the more stately offshore financial centres (OFCs) to the industry. They are generally stable secretive and reliable often small islands but not exclusively so and can vary on how rigorously they carry out checks on wrongdoing. (IANS)

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Donald Trump Planning to meet Putin during his Asia tour

Donald Trump's first trip to Asia is the longest international tour.

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US President Donald Trump
US President Donald Trump. wikimedia commns
  • US President Donald Trump said on Sunday that he expected to meet his Russian counterpart Vladimir Putin during his Asia tour.

“I think it’s expected we’ll meet with Putin, yeah. We want Putin’s help on North Korea, and we’ll be meeting with a lot of different leaders,” Donald Trump told reporters on Air Force One before landing at the Yokota Air Base in Japan, Efe reported.

Putin is scheduled to participate in the Asia-Pacific Economic Cooperation (APEC) summit in Da Nang, Vietnam, which Trump will also attend as part of his long Asia tour.

The North Korean nuclear threat is expected to dominate Donald Trump’s meetings in Japan and the next two stages of his tour, South Korea and China, where he will have a highly anticipated sit-down with Chinese President Xi Jinping.

The remainder of the tour will be more focused on economic issues, with Trump scheduled to take part in the APEC meeting in Da Nang and then in the Association of Southeast Asian Nations (ASEAN) Summit and the East Asia Summit in the Philippines.

Donald Trump’s first trip to Asia is the longest international tour by a US head of state since the one then-President George H.W. Bush embarked on in 1992.

Bush became ill at the end of that trip, famously vomiting on the Japanese prime minister’s lap at a formal dinner before fainting.(IANS)