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United States President Obama hailed new Treasury Department rules cracking down on corporate tax inversions Tuesday, calling the practice of merging with a foreign company to escape U.S. taxes one of the most insidious tax loopholes out there.
The United Stated Department is reviewing the leaked documents from a Panamanian law firm that reveal the offshore financial arrangements of global politicians and public figures, a department spokesman said on Monday. The department is determining whether the documents point to evidence of corruption and other violations of US law.
The US economy added 215,000 jobs in March, a little less than it did in February when 242,000 jobs were created. The unemployment rate has risen to 5% from 4.9%, which was an eight-year low, but the Labor Department said more Americans were finding jobs, which suggested a sign of confidence in the US economy. In effect this follows the report on the US economy which grew at an annualized rate of 1.4% in the fourth quarter of 2015s.
President Dilma Rousseff decided on Tuesday to cancel her planned trip to the United States next Thursday to participate in the 4th Nuclear Security Summit, to be held in Washington.
Federal Reserve Chair Janet Yellen said on Tuesday that the Fed still envisions a gradual pace of interest rate increases in light of global pressures that could weigh on the economy. Yellen did not specify a timetable for further hikes to follow the Fed's rate increase in December from record lows. She said the risks to the United States remain limited but cautions that assessment is subject to “considerable uncertainty.”
In another display of support for the Argentine administration of president Mauricio Macri, the government of the United States affirmed it has “significant foreign policy interests” in finding a “rapid” resolution to the long-standing dispute between Argentina and bondholders.
Obama pays homage to victims of Argentine dictatorship and admits “US was slow to speak out for human rights”
President Barack Obama paid homage on Thursday to victims of Argentina's former US-backed dictatorship, admitting the United States was “slow to speak out for human rights” in those dark days. Obama became the first US president to formally acknowledge the victims of the 1976-1983 military regime, which declassified documents have revealed was supported by top US officials.
Argentine president Mauricio Macri at the beginning of the press conference Wednesday midday in Casa Rosada (Government House), highlighted the visit of Barack Obama's to Argentina and said “a stage of mature, intelligent and constructive relations is beginning.”
In his first press conference in Buenos Aires, United States president Barack Obama sent a strong message of support to his peer Mauricio Macri and his policies, praising him for the swift pace of reforms to create a stronger economy and said Washington was ready to work more closely with Argentina after years of tension.
President Barack Obama kicks off on Wednesday the first visit of a US president to Argentina in twenty years, and although no great announcements are expected it will be a great boost to Mauricio Macri's three month administration, his bold economic reforms and effective efforts to reinsert Argentina in the world.