Doug's Feed
Sep 11, 2012

July trade gap widens as exports to Europe slump

WASHINGTON (Reuters) – The U.S. trade deficit grew slightly in July, a small bit of negative news for the U.S. economy, as exports to Germany, France and other European nations shrank and imports from China soared to a new record.

The monthly trade shortfall was $42 billion, compared to a downwardly revised estimate of $41.9 billion for June, as both overall imports and exports declined.

Sep 7, 2012

US debt relief plan for Egypt could go to Congress soon

WASHINGTON, Sept 7 (Reuters) – The Obama administration
hopes to go to Congress soon with a plan for using $1 billion in
debt relief to help Egypt stabilize its economy and expand its
private sector, a senior U.S. State Department official said on
Friday.

“My hope would be is that we would go to the Congress very
shortly with a framework of how we recommend that this money be
allocated,” U.S. Deputy Secretary of State Thomas Nides told
reporters during a conference call to discuss goals for a U.S.
business delegation headed to Egypt this weekend.

Sep 6, 2012

Romney backs Russia trade bill only with human rights added

WASHINGTON, Sept 6 (Reuters) – Republican presidential
candidate Mitt Romney would support legislation to upgrade U.S.
trade relations with Russia only if Congress also passes a
measure to go after Russian human right violators, his campaign
said on Thursday.

“Gov. Romney believes that permanent normal trade relations
(PNTR) should only be granted to Russia on the condition that
the Magnitsky human rights bill be passed,” Lanhee Chen, policy
director for the Romney campaign, said in a statement.

Aug 2, 2012

Congress reauthorizes import ban on Myanmar

WASHINGTON (Reuters) – The U.S. Congress voted on Thursday to extend a ban on imports from Myanmar, along with White House authority to waive the restriction if the Southeast Asian nation continues to make political and economic reforms.

Both the Senate and the House of Representative approved the legislation on a voice vote, sending it to President Barack Obama to sign into law.

Aug 2, 2012

Congress approves lifeline for African clothing workers

WASHINGTON (Reuters) – The U.S. Congress voted on Thursday to renew a trade measure supporting hundreds of thousands of jobs in Africa’s clothing sector, just two months before the measure expires.

Both the Senate and the House of Representatives approved the legislation on a voice vote, sending it to President Barack Obama to sign into law.

Aug 1, 2012

Business coalition now eyes September vote on Russia trade

WASHINGTON (Reuters) – A business coalition on Wednesday signaled it has given up hope that Congress would pass critical legislation to upgrade trade ties with Russia before that country enters the World Trade Organization on August 22.

“Congress must pass PNTR (permanent normal trade relations) as soon as possible after returning from recess in September, or else risk putting U.S. businesses, workers and farmers at a long-term disadvantage in this important market,” the Coalition for U.S.-Russia Trade said in a statement.

Aug 1, 2012

US business now eyes Sept vote on Russia trade

WASHINGTON, Aug 1 (Reuters) – A U.S. business coalition on
Wednesday signaled it has given up hope that Congress would pass
critical legislation to upgrade trade ties with Russia before
that country enters the World Trade Organization on Aug. 22.

“Congress must pass PNTR (permanent normal trade relations)
as soon as possible after returning from recess in September, or
else risk putting U.S. businesses, workers and farmers at a
long-term disadvantage in this important market,” the Coalition
for U.S.-Russia Trade said in a statement.

Aug 1, 2012

IMF to visit Ukraine to assess budget-Ukraine official

WASHINGTON, July 31 (Reuters) – An International Monetary
Fund team will visit Ukraine in September to assess its budget
plans as the cash-strapped country tries to persuade the lender
to restart a $15 billion loan program, a top Ukrainian official
said on Tuesday.

Valery Khoroshkovsky, first deputy prime minister, told
Reuters through a translator he met with IMF Managing Director
Christine Lagarde on Tuesday and reached “a general
understanding that in September IMF representatives will come to
Ukraine to assess our budget planning for 2013.”

Jul 31, 2012

U.S. hopeful on APEC green goods pact, despite China dispute

WASHINGTON (Reuters) – The United States is optimistic it can strike a deal with China and other Asia-Pacific countries to cut tariffs on green technology goods despite frictions with Beijing over the burgeoning trade in renewable energy products, a top U.S. trade official said on Tuesday.

“I think we’re on track to do that,” Deputy U.S. Trade Representative Demetrios Marantis said.

Jul 30, 2012

World Bank says rising food prices a concern, ready to help

WASHINGTON (Reuters) – The World Bank on Monday said it stood ready to help governments respond to a broad-based run-up in grain prices that has again put the world’s poorest people at risk and could have lingering detrimental impacts for years.

“We cannot allow short-term food-price spikes to have damaging long-term consequences for the world’s most poor and vulnerable,” World Bank Group President Jim Yong Kim said in statement.