The difference between China’s exports to the US and its imports from the world’s largest economy expanded to a monthly high of $29bn (£22bn), up from $24.6bn in May. China’s exports to the US jumped by 13.6% in the first half of 2018 from a year earlier, while its imports from the US rose 11.8% in the same period. … [Read more...] about China trade surplus with US hits record $29bn high
Us trade deficit
On June 20, 2018, India announced that it will raise tariffs on imports of 29 products from the US, including almonds, apples and phosphoric acid, worth $10.6 billion. This was in retaliation to the steel and aluminium tariff hikes by the US in March 2018. This higher tariffs’ implementation, however, have been delayed multiple times. On May 2, 2019 India further pushed back the implementation by 14 days to May 16, awaiting more clarity on from the US on its decision to withdraw duty-free benefits under GSP to Indian exporters. … [Read more...] about Harley, Visa, Mastercard, Amazon and Walmart at the centre of Trump’s trade push
“Xi Jinping made clear that their system is working very well and that they’re not going to try to make their society or their economic system look like Western capitalism,” said Henry M. Paulson Jr., former Treasury secretary in the George W. Bush administration. He founded the Paulson Institute in 2011 to focus on U.S.-China issues and has been in regular contact with senior Chinese officials. … [Read more...] about New U.S.-China trade deal leaves the thorniest problems unresolved
New York: These days, you’d be hardpressed to find many people in Washington who are all that worried about the US budget deficit. Republicans seem more interested in tax cuts, Democrats have ambitious spending plans for everything from healthcare to infrastructure, and Modern Monetary Theory (MMT), a manifesto for free-spending governments, is all the rage in progressive circles. But on Wall Street, bond dealers provided a small, but pointed reminder that, just maybe, debt and deficits do matter after all. It came in the form of a sudden spike in interest rates for repurchase agreements, or repos, a normally obscure part of finance that keeps the global capital markets spinning. Plenty of factors helped cause liquidity to dry up, but one that’s getting more attention is concern that dealers are starting to choke on Treasuries as the US government goes deeper into the red. The argument goes like this: Primary dealers, which are obligated to bid at US debt auctions, have … [Read more...] about Modern Monetary Theory’s all the rage, but deficits still matter for Wall Street
While Ms Sitharaman has demonstrated that she has little time for interest groups demanding special or sectoral benefits, it is also true that even experts are divided on what is the best response at this time -- to ignore fiscal constraints in order to stimulate demand for the short run, or to continue to exercise restraint while pushing forward structural reform using this moment of crisis. … [Read more...] about Should India allow foreign money to finance deficit?