The State Department announced last week that it would temporarily recall U.S. ambassadors to the Dominican Republic, El Salvador and Panama for consultations in Washington. The meetings will focus on recent decisions by Latin American countries to no longer recognize Taiwan and ways the U.S. can support strong. independent, democratic institutions and economies throughout Central America and the Caribbean1 comment
Global Times Editorial
The Trump administration announced tariffs on Chinese high-tech and industrial imports worth of US$50 billion. The first round, on imports totaling US$34 billion, will begin July 6, while the second round is still under review.
The following editorial on the current US/China trade war was published by the official news agency Xinhua,
China announced a US$ 3 billion list of U.S. goods including pork, apples and steel pipe on Friday that it said may be hit with higher tariffs in a spiraling trade dispute with President Donald Trump that companies and investors worry could depress global commerce. The Commerce Ministry urged Washington to negotiate a prompt settlement to the conflict over Trump's tariff hike on steel and aluminum but set no deadline.
Newly re-elected President Barack Obama said on Friday the wealthy must pay more taxes under any political deal to avert a looming budget crisis. He said Congress must act against the so-called fiscal cliff, a package of tax rises and spending cuts due early next year.
The US administration of President Barack Obama formally unveiled on Wednesday the “Buffett rule”, legislation to ensure that all millionaires would pay a minimum federal tax of 30%.
President Barack Obama has attacked income inequality as he set the tone for his re-election bid in his third State of the Union speech. Obama emphasised the importance of an economy that works for everyone, in the nationally televised address to Congress.