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Formalising the trade deal with Britain during Narendra Modi’s visit will give New Delhi more bargaining power in tariff talks with different nations, including the US
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Speaking to Moneycontrol News, Partha DeSarkar, CEO of Hinduja Global Solutions (HGS) said that the company has hired around 6,000 people in North America, who are local Americans and Canadians.
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Addressing around two dozen CEO's of major US companies on Thursday, President Donald Trump said that he was delivering on his campaign promises and plans to bring back the 'good jobs' back to the country.
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The dollar index, which measures the greenback against six major peers, last stood at 100.47. The index recovered overnight to hit 100.73, after dipping to a seven-week low of 99.793 on Thursday.
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US President Donald Trump's decision to scrap the proposed multinational Trans-Pacific Partnership (TPP), billed as having potential to add hundreds of billions of dollars to world trade, could kickstart a trend that pummels the world into recession, according to an analyst.
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The deal included a dozen Asia-Pacific nations that together account for 40 per cent of the global economy, but President Donald Trump said yesterday he had "terminated" it in line with election pledges to can the "job killer" pact.
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Embarking on his first full week in office, the 45th US president began rolling out his policy agenda after a tumultuous first weekend for his administration by signing a series of executive orders.
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Sentiment took a fresh knock when US Treasury Secretary nominee Steven Mnuchin told senators that he would work to combat currency manipulation but would not give a clear answer on whether he views China as manipulating its yuan.
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Japan's Nikkei dropped 1.1 percent while shares in Australia dropped 0.7 percent after the Trump administration, on its first day in office, declared its intention to withdraw from the Trans-Pacific Partnership (TPP), a 12-nation trade pact that Japan and Australia also have signed up for.
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Shindo is also president of Nippon Steel & Sumitomo Metal Corp, Japan's biggest steelmaker.
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The talks between Australian Prime Minister Turnbull and Abe also come amid heightened regional tension as China asserts its claims over the disputed South China Sea, setting up a potential clash with the incoming Trump administration.
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Trump campaigned for US president on a promise to pull out of the 12-nation Trans-Pacific Partnership (TPP) trade deal, and also threatened to impose steep tariffs against China and Mexico.
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US Trade Representative (USTR) Mike Froman said that not signing Trans Pacific Partnership (TPP) would be akin to conceding the Asia Pacific space to China.
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"Right now, China is pushing hard to create their own trading regime out in Asia. And I promise you that China is not going to be setting up a bunch of rules that are going to be to the advantage of American companies and American businesses," Obama said.
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The trade pact is the economic pillar of Obama's broader plan to shift US foreign policy toward Asia and counter the rising economic and military might of China.
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"China engages in illegal export subsidies, prohibited currency manipulation, and rampant theft of intellectual property. They also have no real environmental or labour protections, further undercutting American workers," Trump said.
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As such Obama reaffirmed his commitment to the Trans- Pacific Partnership (TPP).
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Ahead of Prime Minister Narendra Modi's visit, a top US business advocacy group has asked the Obama administration to re-launch bilateral investment treaty (BIT) negotiations with India as soon as possible and support its membership in the APEC grouping
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Among 24 CFOs in the US, just four answered "Presidential primaries/US Election" to the same question. Trump's name was not mentioned in their responses.
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A 10 percent rise in Chinese apparel prices could create at least 1.2 million jobs in the Indian apparel industry
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Alyssa Ayres, senior fellow for India, Pakistan, and South Asia at the Council on Foreign Relations (CFR), said that the US should take action and champion Indian membership in the Asia-Pacific Economic Cooperation (APEC) forum.
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The Regional Comprehensive Economic Partnership (RCEP) is a mega trade deal which aims to cover goods, services, investments, economic and technical cooperation, competition and intellectual property rights.
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The US-led Trans Pacific Partnership (TPP), which was signed by 12 countries in New Zealand, would bolster American leadership abroad and support good jobs at home, Obama said. "TPP will bolster our leadership abroad and support good jobs here at home," Obama said.
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Nirmala Sitharaman, however, said that the country is preparing itself to deal with the adverse impact of the Trans Pacific Partnership (TPP), a mega trade deal among 12 countries, including the US.
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Commerce Minister Nirmala Sitharaman says the pact between 12 nations in the Pacific Rim, including the United States, will have an impact on India's exports.
