Overseas Headlines-March 03, 2020

March 03, 2020

United States:

U.S. Hits Back at China, Orders Media Outlets to Slash Staff

“The Trump administration ordered four Chinese state-owned news outlets to slash the number of staff they have working in the U.S., part of a broader response to Beijing’s restrictions on American journalists including its expulsion of three Wall Street Journal reporters last month. The move risks further tit-for-tat measures from Beijing as the world’s biggest economies continue a broader battle for global influence even after reaching a phase-one trade deal earlier this year. That wider strategic fight is affecting everything from manufacturing supply chains to 5G mobile-phone technology to the leadership of international organizations.”



U.K. Race for 2020 Trade Deals Gets Off to a Mixed Start

“The U.S. and the British governments are sounding keen to seal a deal that could reduce tariffs, eliminate non-tariff barriers and increase market access between the two nations. For Britain, its departure from the EU has unshackled its negotiators and created a golden opportunity to forge a U.S. trade deal that Brexiteers have long touted as a key benefit of leaving the EU. America is already the U.K.’s largest trading partner after the EU, with annual two-way trade totaling more than $230 billion, according to data from the U.S. Trade Representative.”



RBI Chief Sees Room to Cut India Rates as Virus Dents Growth

“India’s central bank governor said he’s ready to act to shield the economy from the coronavirus and reiterated there’s room to cut interest rates if needed. Speaking in an interview with Bloomberg News in Mumbai just hours before finance ministers and central bank chiefs from the G-7 economies were scheduled to discuss policy options, Shaktikanta Das said “there is a strong reason for coordinated policy action.” For India, options include a rate cut and supporting the market through liquidity measures, he said.”


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