The Chinese Commerce Ministry said it would impose a 105.4% tariff on U.S. chicken exports after concluding they were unfairly priced. After a yearlong investigation, China concluded US exporters were selling chicken in China at prices that were lower than the costs of production, a practice known as product dumping.
The poverty rate in the United States rose for the third straight year, reading 14.3% in 2009 (one in seven), up from 13.2% a year earlier. More than 43 million people are living in poverty and almost 51 million have no health insurance coverage.
China's trade surplus narrowed in August as imports picked up at a faster pace and exports slowed although not drastically, official figures showed on Friday. The data is likely to keep up pressure on Beijing to ease currency controls.
United States National Guard troops will begin deploying along the US-Mexico border from 1 August, officials say. The 1,200 troops, ordered to the border by President Barack Obama, form part of efforts to tackle illegal immigration and drug-trafficking.They will be in the four border states with Arizona getting the largest share.
Lending to small businesses inn the United States is declining, thus making it more difficult to come to grips with the persistent problem of high unemployment, admitted Federal Reserve Chairman Ben Bernanke.
United States President Barack Obama held talks with his Peruvian counterpart Alan Garcia in the White House and praised the South American country’s economic performance and consolidated democracy.