
Uruguay resisted pressures from the administration of former US President George W. Bush to reduce ties with Iran. Uruguay’s Foreign Affairs minister Luis Almagro on a Middle East tour made the revelation during a meeting in Teheran with President Mahmoud Ahmadinejad, according to the official Iranian news agency.

In 2005, with Chile negotiating a Free Trade Agreement with China, the United States became increasingly worried over China’s influence in the area, according to a confidential cable released last week by Wikileaks.

The United States have been warned that the credit rating on its government debt could be cut by Standard & Poor's. The risk rating agency is concerned that Democrats and Republicans will not be able to agree a plan to reduce the growing US deficit.

US March retail prices rose 0.5% accumulating 2.7% in the last twelve months according to the latest report from the US Labour Department. Core consumer price index, which excludes volatile food and energy prices, was up only 0.1%.

US President Barack Obama said the United States must use the tax code to help meet its targets for reducing the deficit and said that the wealthiest Americans must help achieve that goal.

President Barack Obama called for an overhaul of the U.S. tax code for individuals and businesses and said he wants to raise an additional 1 trillion US dollars through tax increases over the next decade.

The US trade deficit shrank in February as imports fell more than exports, according to a government report that suggested a slowdown in global demand. The monthly trade gap totalled 45.8 billion US dollars, down from an upwardly revised estimate of 47 billion in January.

By David Michaels (*) “Hoodwink” is John Perkins latest book and a blueprint for a new form of global economics, far from predatory capitalism that must put an end to the old formula of “the few benefiting at the expense of the many”.

United States congressional leaders have agreed on a budget deal to fund the US government for the rest of the fiscal year, just before a midnight deadline. It will reportedly cut 39 billion USD from the budget over last year's levels between now and 30 September.

The US State Department released its annual report on human rights around the world and questioned the Argentine judicial system’s independence along with a series of abuses carried out by police forces including deaths and torture claims.