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Tag Archives: trans-pacific partnership

US trade deficit hits $44.5 billion, biggest in 10 months

trade gap, trade deficit

WASHINGTON (AP) — The U.S. trade deficit increased to the highest point in 10 months, driven up by a big rise in imports of oil and Chinese-made computers, cell phones and clothing. The deficit rose to $44.5 billion in June, 8.7 percent higher than a revised May deficit of $41 billion, the Commerce Department reported Friday. It was the biggest ...

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Obama defends TPP secrecy, says now is chance for debate

KUALA LUMPUR – U.S. President Barack Obama launched a defense on Friday of a signature Pacific trade pact kept largely under wraps and said the public would get its say before legislators in each country debate the full details. The Trans-Pacific Partnership (TPP), a “mega-regional accord” covering four-tenths of global GDP, was so complex it would not have materialized if ...

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TPP nations pledge exchange rate cooperation

WASHINGTON, Oct 5 (Reuters) – The Pacific Rim nations that secured a free trade agreement on Monday pledged to bolster cooperation on broad economic issues, including currencies. “We are pleased to announce today that we are working to strengthen macroeconomic cooperation, including on exchange rate issues, in appropriate fora,” the macroeconomic policy authorities of the 12 Trans-Pacific Partnership nations said ...

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Obama administration defends TPP as “comprehensive and balanced”

obama

WASHINGTON, Oct 5 (Reuters) – The Trans-Pacific Partnership is a comprehensive and balanced agreement that will raise living standards and reduce poverty, the U.S. Trade Representative said in defending a pact that is expected to face opposition in the U.S. Congress. The USTR said that the TPP, as the deal is known, would eliminate or reduce tariff and non-tariff barriers ...

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Trans-Pacific Partnership causes tension at Boulder forum

The panel was stacked at a trade forum moderated by U.S. Rep. Jared Polis, D-Boulder, Monday night. But so was the audience. Four of the five panelists spoke favorably about the Trans-Pacific Partnership — a proposed free trade agreement between the U.S., Canada and 10 countries in the Asian-Pacific region — during the forum at the University of Colorado. But ...

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IMF sees uncertainty about path of oil prices

WASHINGTON – Uncertainty over the future path of oil prices could throw a wrinkle into the International Monetary Fund’s predictions for the global economy, its staff said in a note on Friday. On the one hand, lower oil prices could persist and boost global demand more than it foresaw last month, when the IMF cut its global growth forecast to ...

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U.S. discussing possible light crude exports to Mexico-Pritzker

MEXICO CITY, Jan 6 – The United States is engaged in ongoing discussions with Mexican officials over whether to export light crude oil to its southern neighbor, U.S. Commerce Secretary Penny Pritzker said on Tuesday. The potential light crude exports from the United States, where output is surging, thanks to the shale boom, would mark a dramatic shift in the ...

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