Brazilian Development, Industry and Foreign Trade minister Fernando Pimentel justified trade barriers imposed last week on the import of cars, a measure which was strongly criticized by the Argentine government.
China Trade Minister Chen Deming promised to further increase bilateral trade with Argentina which last year reached 13.5 billion US dollars but also asked for reciprocity regarding China’s exports.
French president Nicholas Sarkozy stressed over the weekend he would not accept an European Union-Mercosur trade agreement that could mean a loss of income for European farmers.
China will be able to avoid a financial crisis that is due to hit other developing countries over the next five to 10 years a central bank adviser was quoted as saying on Saturday.
Inflation in the United States slowed in April, mainly due to smaller price rises in fuel and food. Consumer prices rose 0.4% in April, having risen 0.5% in March, according to figures from the Labour Department.
In an attempt to cool inflation China’s Central bank raised banks’ reserve requirements for the fifth time this year. The half-point increase takes effect May 18 and will boost levels for China’s biggest lenders to a record 21%.
With the US government about to hit its 14.3 trillion US dollars debt limit, US Treasury Secretary Timothy Geithner has warned of “catastrophic” consequences and a new recession if Washington is not able to borrow more.
French Foreign Trade Secretary Pierre Lellouche said he had witnessed ‘strong tensions’ among Mercosur members during negotiations with the European Union for a free trade agreement.
The world's main trading nations remain divided over a global trade deal despite a compromise plan put forward by the European Union to rescue the stalled Doha trade round, the EU trade chief said.
The U.S. Travel Association unveiled a plan to create 1.3 million U.S. jobs and add 859 billion dollars to the U.S. economy by 2020 by reforming an antiquated visa process that often drives international travelers to other countries. The heart of U.S. Travel's plan is to increase staffing, reduce visa interview wait times and expand the Visa Waiver Program.