US trade News

"India has long had a field day putting Tariffs on American products. No longer acceptable!" tweeted Trump.

Describing Prime Minister Narendra Modi and President Xi Jinping as "good friends", China on Monday hoped that the two leaders would discuss their respective trade frictions with the US and reach a consensus on opposing trade protectionism during their "very important" meeting this week on the sidelines of the SCO summit in Bishkek. 

Trump, who has previously criticized the WTO's dispute settlement system as being unfavorable to the US, said Washington had "rarely won a lawsuit" there although things began changing last year.

Indian firms are looking to fill gaps in Chinese demand for generic drugs, software, sugar and some varieties of rice.

Trump defended his decision not to have a country specific exemption on his steel and aluminium tariff.

Clashes in Venezuela between anti-government protesters and police this year have left 125 people dead, according to prosecutors.

The US Commerce Department on Tuesday confirmed a picture of sluggish growth in 2016, with the world`s largest economy growing at its slowest pace in five years.

The US trade deficit shrank in November to a nine-month low as a sharp drop in imports outpaced a decline in exports, the Commerce Department said Wednesday.

The US economy grew at an annual rate of 2 percent in the third quarter, according to Commerce Department data Tuesday, slightly below a previous estimate of 2.1 percent.

The European Union on Wednesday proposed a special court to resolve any disputes arising from a planned huge trade deal with the United States, instead of the widely criticised private tribunals that Washington wants.

Wall Street stocks rose Wednesday following a wave of mostly solid US data and a fresh confirmation of ultra-easy money policies by the European Central Bank.

The bi-lateral trade between India and the United States is poised to grow fivefold from the current USD100 billion to USD500 billion, a Indo-US business body has said.

The US has said it is encouraged by the economic reforms being pursued by the Indian government, and appealed to it to consider taking additional steps towards facilitating trade.

Attention now turns to the House of Representatives, where opposition is deeper to granting the president power to negotiate trade deals that can be approved or rejected by Congress but not amended.

US senators reached a deal Wednesday that would help grant President Barack Obama authority to quickly complete a huge Pacific trade accord, one day after Democrats blocked the measure.

The dollar mostly strengthened against other Asia-Pacific currencies.

The US trade deficit in December jumped to the highest level in more than two years as American exports fell and imports climbed to a record level.

The yen recovered slightly in Asia on Tuesday after plunging to a near seven-year low against the dollar after the Bank of Japan last week ramped up its vast monetary easing plan.