Saturday, 18 November, 2017

US pursues 3% growth via tax reforms, regulatory relief

Reuters Reuters
Kelvin Reese | 24 April, 2017, 05:59

World finance leaders, confronted by a growing backlash against globalization, will seek to build support for free trade by finding ways to help those left behind. They argued that blocking free trade would hobble economic growth instead of saving jobs from foreign competition.

IMF Managing Director Christine Lagarde told reporters on Thursday that more needed to be done to make the global trading system fairer and expressed a willingness to work with Trump to do just that.

Mnuchin said the administration is focused on policies that help the US economy and also support global growth.

"If you want to insist on having a tariff on a product - which we prefer you not - the president believes that we should treat you in a reciprocal fashion and that we should tax your product coming into the United States", Cohn said.

"We believe very firmly in this institution, in the value and virtues of dialogue, cooperation, reciprocated assessment", she said. He said that the Trump administration's view was that "what is good for the USA economy is good for the global economy" because stronger growth in the United States will have a spillover effect for other nations.

Mnuchin's decision against naming China a currency manipulator last week removed one concern for the International Monetary Fund ahead of the meetings.

The Fate Of The Furious Box Office Passes $160 Million Domestic
The directorial debut of longtime producer Denise Di Novi cost only $12 million to make, but the meager result still disappointed. Audience members who saw the film did give it an A-minus CinemaScore but the Rotten Tomatoes rating rests at 46% positive.

US tells North Korea: We don't want a fight, don't start one
Ambassador Nikki Haley has a message for North Korea: "We're not trying to pick a fight so don't try and give us one". Satellite images from the next day suggested that the North Koreans had run communication cables into the tunnels.

Trump raps Iran as violating 'spirit' of nuclear deal
Trump is approaching his 100th day in office, a benchmark often cited to measure a new administration's achievements. He had said in January 2016, after the deal was implemented, that "Iran will not get its hands on a nuclear bomb".

The renewed push comes as finance ministers from 189 countries gather for the fund's semiannual meeting today, in a tense atmosphere of rising anti-trade rhetoric in many advanced economies.

"For both sides this is not a good situation". The IMF in updated forecasts this week left its USA economic growth forecast unchanged at 2.3 percent this year, while raising the global outlook slightly to 3.5 percent. "It's something like a lose-lose situation, not a win-win situation", Schaeuble said.

"We have had an environment in the USA that has not been particularly business-friendly coming out of Washington", he said, and narrated some of the key economic measures taken by the Trump administration in the first 100 days.

At the same time, Schaeuble said he opposed plans for a systemic change to taxation of companies based on their country of origin and a protectionist border tax favoured by U.S. House Speaker Paul Ryan, the magazine reported. Lagarde said: "Trade and financial integration and technology lifted hundreds of millions out of poverty, boosted incomes, expanded access to goods and services, accelerated knowledge transfer, and provided new opportunities for investment".

The country's debt stock as a percentage of the total value of the economy over the years has been a concern for the country's development partners, donors, and rating agencies because of its impact government expenditure, the cost of credit, economic growth. "Every country in the world has to think about how it's going to compete in the economy of the future".

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