India has downplayed the impact of U.S. plans to end New Delhi’s preferential trade status that allows duty free access to products worth $ 5.6 billion.

Saying that India has not assured the United States that it will provide “equitable and reasonable access” to its markets, U.S. President Donald Trump has directed the U.S. Trade Representative’s office to remove India from a program that grants it preferential trade treatment. 

In 2017, India was the biggest beneficiary of the Generalized System of Preferences (GSP), which lowers duties on exports from about 120 developing countries.   

While the preferential tariffs give India duty free access to exports worth $5.6 billion, Indian commerce secretary Anup Wadhawan told reporters in New Delhi that the actual benefits add upto $190 million. He called them “minimal and moderate.”

He said that India has no plans to impose retaliatory tariffs on U.S. goods.

Despite their fast-growing political and security ties, trade tensions have been brewing between the two countries over the past year as American businesses complain of protectionist hurdles in one of the world’s fastest growing markets.

India, “has implemented a wide array of trade barriers that create serious negative effects on United States commerce,” a statement from the U.S. Trade Representative office said.

President Trump has called India a “high tariff” country and repeatedly complained of high levies imposed by India on exports such as imported whiskey and Harley-Davidson motorcycles.

Indian officials refute that. “Our tariffs are very comparable to the more liberal developing economies, they are comparable to and even developed economies,” Wadhawan told reporters. “We have some tariff peaks. So you can’t pick up one or two items and believe that our entire tariff structure is high.”

The U.S. Trade Representative’s Office has said that India’s removal from the GSP would not take effect for at least 60 days. 

Indian exports that enjoyed preferential tariffs include automobile parts, chemicals, precious metal jewelry and certain raw materials.

Trade experts in New Delhi agree that the overall impact of the U.S. withdrawal of preferential tariffs is not significant, but warn that much of the hit will be taken by sectors that create employment in a country that desperately needs more jobs.

“The products where the GSP impact is more are the labor intensive sectors such as handicrafts, agriculture and marine products,” according to Ajai Sahai, the head of the Federation of Indian Export Organizations. He points out that it comes at a time when Indian exports are grappling with a slowdown.

Contentious areas

There are other contentious areas in the trade relationship between the two countries. The United States has been leaning on India to reduce the trade surplus of about $23 billion out of the total bilateral trade of $126 billion. In New Delhi, officials point out that the deficit has been declining and say the gap will be further reduced as India increases its energy and defense purchases – India has begun importing shale oil from the United States and military equipment sales have been rising.

Indian price controls on medical devices, restrictions on agricultural imports and recent policies that are disrupting the business model of online retail giants such as Amazon have also irked Washington.

The new e-commerce policy was announced in December on demands from tens of thousands of retail traders who complain of losing business to online companies. The traders form a core support base for Prime Minister Narendra Modi’s Bharatiya Janata Party, which is gearing up for a general election expected to be announced shortly.

India is not the only country facing an end to preferential market access — the United States has announced that it will also end Turkey’s preferential trade status, saying it no longer qualifies as it is “sufficiently economically developed.”

 
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From: MeNeedIt

While best known for his award-winning work as an actor on stage, television, and film, it is his off-camera service earning Gary Sinise the respect of many in uniform. VOA’s Kane Farabaugh spoke with Sinise about his new book “Grateful American” and his journey to honor and support those who serve their country.
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From: MeNeedIt

Treasury Secretary Steven Mnuchin informed Congress on Monday that he will stop making payments into two government retirement funds now that the debt limit has gone back into effect.

In a letter to congressional leaders, Mnuchin said that he would stop making investments into a civil service retirement fund and a postal service retirement fund.

These are among the actions that Mnuchin is allowed to take to keep from exceeding the debt limit, which went back into effect on Saturday at a level of $22 trillion.

The debt limit had been suspended for a year under a 2018 budget deal. The Congressional Budget Office estimates that Mnuchin likely has enough maneuvering room to avoid a catastrophic default on the national debt until around September.

The U.S. government has never missed a debt payment although budget battle between then-President Barack Obama and Republicans in 2011 pushed approval of an increase in the debt limit so close to a default that the Standard and Poor’s rating agency downgraded a portion of the country’s credit rating for the first time in history.

The Congressional Budget Office said in a report that issuing new securities for the Civil Service Retirement and Disability Fund and the Postal Service Retiree Health Benefits Fund pushed the debt up by $3 billion each month. Mnuchin said both funds would be made whole once Congress approves an increase in the debt limit.

“I respectfully urge Congress to protect the full faith and credit of the United States by acting to increase the statutory debt limit as soon as possible,” Mnuchin said in his letter.
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From: MeNeedIt

Venezuelan opposition leader Juan Guaido named Harvard University economist Ricardo Hausmann as the country’s representative to the Inter-American Development Bank (IDB), Guaido’s envoy to the United States, Carlos Vecchio, wrote in a tweet on Monday.

Guaido, who calls socialist President Nicolas Maduro a usurper after Maduro won re-election in a May 2018 vote widely seen as fraudulent, invoked the constitution to assume an interim presidency in January. He has been recognized as the OPEC nation’s legitimate leader by most Western countries, including the United States.

Hausmann, an economics professor at Harvard’s Kennedy School of Government, served as Venezuela’s planning minister and as a member of the board of the country’s central bank in the 1990s.

He has also served as the country’s governor for the IDB and World Bank, and was the IDB’s chief economist for several years.

Venezuela’s current IDB governor is Oswaldo Javier Perez Cuevas, an official in the country’s finance ministry, according to the IDB’s website. The Washington-based multilateral lender invests in infrastructure and other development projects throughout Latin America and the Caribbean.

Neither Hausmann nor a spokesman for the IDB immediately responded to a request for comment. A source close to the Venezuelan opposition said Hausmann’s appointment still had to be confirmed by the country’s National Assembly, which is currently led by Guaido.
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From: MeNeedIt

A U.S. judge on Monday acquitted a former top foreign exchange trader at Barclays Plc accused of illegally trading ahead of an $8 billion transaction for Hewlett-Packard, without letting the case go to a jury.

The acquittal of Robert Bogucki, who led Barclays’ foreign exchange trading desk in New York, by U.S. District Judge Charles Breyer in San Francisco sets back federal efforts to hold senior bankers and traders criminally responsible for suspected misconduct.

It also marks a rare instance of such a case being tossed out immediately after the prosecution presented its case at trial, because the evidence was too weak to support a conviction. Bogucki’s trial began on Feb. 21.

A spokesman for U.S. Attorney David Anderson in San Francisco said that office was reviewing Breyer’s decision.

“We are so very pleased that the court recognized Mr. Bogucki’s innocence and affirmed that the government’s attempt to rewrite the rules years after the fact runs counter to core constitutional principles of due process,” Sean Hecker, a lawyer for Bogucki, said in a statement.

Bogucki was charged with “front-running” a 2011 transaction involving the sale of 6 billion pounds of cable options linked to HP’s purchase of British software company Autonomy Corp.

Prosecutors accused Bogucki of trying to push down the options’ price, enabling Barclays to profit at HP’s expense.

An indictment quoted Bogucki warning a trader not to let “some loose lipped market monger” tell HP what they were doing, and the trader discussing their plan to “spank the market.”

Breyer, however, said no reasonable jury could find that Bogucki owed HP a duty of trust and confidence.

He also said the relationship between Barclays and HP, industry practice and other factors necessitated an acquittal.

“The government has pursued a criminal prosecution on the basis of conduct that violated no clear rule or regulation, was not prohibited by the agreements between the parties, and indeed was consistent with the parties’ understanding of the arms-length relationship in which they operated,” Breyer wrote.

“The court cannot permit this case to go to the jury on such a basis,” he added.

Though such banks as Barclays, Citigroup Inc., JPMorgan Chase & Co. and Royal Bank of Scotland Group Plc have pleaded guilty in connection with foreign exchange markets, few individuals have been held criminally liable.

Last October, a Manhattan federal jury found three former currency traders from Barclays, Citigroup and JPMorgan not guilty of scheming to rig benchmark exchange rates.

The case is U.S. v. Bogucki, U.S. District Court, Northern District of California, No. 18-cr-00021.
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From: MeNeedIt

U.S. Secretary of State Mike Pompeo is expressing optimism that trade talks with China aimed at ending tariffs on hundreds of billions of dollars worth of products will be successful.

“It’s never over till it’s over, but they’ve made a lot of progress, and so I’m very hopeful that in the coming days and weeks, there’ll be a significant announcement,” said Pompeo on Monday in an interview in Des Moines, Iowa.

The top U.S. diplomat is in Iowa to discuss diplomatic efforts to promote American economic interests and American exports.

Iowa’s Farmers have been hit hard by the U.S.-China trade feud.

“President Trump has been determined to get Iowa farmers a fair shake, to stop the Chinese from stealing their intellectual property and denying them the ability to compete by selling products into China,” said Pompeo in another radio interview.

China’s agricultural imports from the U.S. have slumped since Beijing imposed tariffs on American agricultural products last year. Among the biggest losses for American farmers: oilseeds and grains exports, which are top agricultural products that Iowa farmers send to China.

Pompeo’s visit comes days after U.S. President Donald Trump demanded China instantly eliminate tariffs on American agricultural goods.

In a tweet on March 1, Trump said trade talks were progressing well and he had asked China to immediately end tariffs on U.S. agricultural products while delaying his own plan to impose 25 percent tariffs on Chinese goods. Trump had set a March 1 deadline to increase tariffs on $200 billion in Chinese goods from 10 percent to 25 percent.

Trump had forecast a summit meeting with Chinese President Xi Jinping to finalize details in a bilateral trade agreement to tackle deeper issues, including greater transparency around subsidies and state-owned enterprises (SOEs) from China, addressing U.S. concerns over forced technology transfer, and intellectual property protection.

The Wall Street Journal reported a summit between Trump and Xi could occur around March 27.

The London-based Economist Intelligence Unit (EIU) said the possible deal “could be substantial enough to allow the U.S. to claim victory in the negotiations, allowing Mr. Trump to save face politically after a damaging fight over border security and wall funding.”

“For China, any such agreement would be politically challenging, but would provide a welcome respite from mounting economic pressures,” said EIU.

Nick Marro from the Economist Intelligence Unit argues while President Trump’s decision to delay a tariff increase on Chinese products is an important step to prevent the escalation of a trade war, these moves were a concession to the Beijing government, who Marro says has yielded little in its negotiating stance.

“Although we expect both sides to come to a deal around purchases of U.S. commodities, this will not be enough to prevent structural issues from worsening economic ties further,” he added.

“If the deal involves that President Xi agrees to purchase much of American commodities, and agreed to lowers certain tariffs,” according to the Cato Institute’s Director of Trade Policy Studies Daniel Ikenson, “there could be more progress, but if they just agreed to purchase these products and not address these major issues, I don’t see the very large deal.”

“I think the United States and China are going to continue to be in this sort of standoff for a number of years until there’s an adequate resolution,” Ikenson told VOA’s Mandarin service.

Jingxun Li from VOA Mandarin Service contributed to this story.
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From: MeNeedIt

After five years of imprisonment, prominent Egyptian photojournalist Mahmoud Abu Zaid was released and returned to his family Monday.

Zaid, popularly known as “Shawkan,” said he would continue his work as a journalist, despite harsh conditions to his release. Shawkan will remain under “police observation” for the next five years, required to check in with police every day at sunset and will be prohibited from managing his financial assets and properties during those five years.

Human rights groups, including Amnesty International and the Committee to Protect Journalists, welcomed his release but condemned the conditions.

“We are relieved to hear that Shawkan is finally free after spending over five years in jail and call on authorities to end their shameful treatment of this photojournalist by removing any conditions to his release,” said Sherif Mansour, Middle East and North Africa Program coordinator for the Committee to Protect Journalists.

Shawkan was one of hundreds of people arrested after Egyptian security forces stormed two Muslim Brotherhood sit-in camps in August 2013, several months after the military ousted Islamist president Mohamed Morsi after weeks of protests against him.

In September, an Egyptian court upheld death sentences against 75 of the over 700 defendants in the original mass trial. Shawkan, who was taking photos outside the sit-in camps in 2013, was given five years in prison — a term he had already served.

Last April, the United Nations’ cultural agency UNESCO awarded Shawkan the World Press Freedom Prize.

The mass trial and Shawkan’s imprisonment have elicited widespread criticism on the lack of press freedom in Egypt.

Reporters Without Borders (RSF) ranks Egypt 161st out of 180 countries on its press freedom index. Over 30 journalists remain in Egyptian prisons, according to the rights group.
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From: MeNeedIt

Exercise and diet are keys to a healthier life, as many studies show, but a heart specialist also recommends something more.

“One, two, three — twirl.”

Kendra Martin is taking photographs of three little girls in chiffon dresses. As they twirl, Martin tells them to smile.

“All right, big smiles!”

“I tell people to fake laugh, and they feel stupid doing it, but the result is theyʼre laughing, and it turns into a genuine smile,” Martin said.

And, in this case a giggle.

Big grins and giggles pay off on camera. The girls may be too young to have heart problems, but the smiles can promote heart health.

Brain rewiring

Dr. Anand Chockalingam is a heart specialist at the University of Missouri Health Care who tells his patients to smile.

“When we smile, the brain wiring gets altered. The chemicals that are released are more positive,” he said.

Chockalingam’s advice is supported by a number of studies. He says smiling is a first step in fighting stress and its ill health effects.

When you feel stressed, your body releases a surge of hormones, including adrenaline and cortisol.

Adrenaline increases your heart rate and blood pressure. Cortisol, the primary stress hormone, increases sugars in the bloodstream. If you are truly in danger, these hormones can help, but too much of these stress hormones too frequently can lead to heart disease and stroke.

​Bad habits arise

People who are stressed look for ways to cope. The American Heart Association says smoking, overeating or drinking alcohol as a way to reduce the stress can harm your heart and other organs.

“Once people smile, they are relaxing,” Chockalingam said. “This relaxation directly lowers blood pressure, improves sugar levels in the blood.”

Chockalingam tells his patients to smile 20 times an hour. It might seem like a lot, but it doesn’t involve drugs or have any negative side effects.

“If we are smiling, we are breaking that link between stress and health,” he said.

Smiling is something Martin does to improve her photography.

“Waking up in the morning with a smile on my face, you know, itʼs gonna put everybody in a better mood,” she said.

And it provides a little boost to everyone’s heart health.
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From: MeNeedIt

Exercise and diet are keys to a healthier life, as many studies show, but here’s something that may surprise you: A heart specialist also recommends smiling to improve your health. VOA’s Carol Pearson explains.
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From: MeNeedIt

Striving to improve behavior at soccer matches, FIFA President Gianni Infantino sees women as role models for male players.

There is less simulation and time-wasting in the women’s game, according to Infantino, and it’s time for men to clean up their act to improve the image of soccer.

“The men’s game has developed incredibly, positively, but a few maybe side effects have unfortunately developed as well that we are fighting now,” Infantino said Saturday. “Let’s take the example of the women’s game.”

Infantino’s admiration for the conduct of female players stands in contrast to predecessor Sepp Blatter, who urged them to wear tighter kits to make the game more popular.

“Women are nicer than men, probably, generally,” Infantino said. “Sometimes we men feel that we need to show how strong we are, probably in the human nature, and this is reflected as well in some of the behavior in society in general but also on the football pitch.”

On field behavior

Infantino was speaking after the game’s lawmaking body, the International Football Association Board, discussed ways of improving on-field behavior at its annual meeting, including treatment of referees. Yellow and red cards for misconduct by team officials are now entered in the laws of the game after successful trials.

“When it comes to behavior,” Infantino said, “if there’s something to learn from the women’s game … it’s certainly this: This is much less time lost and wasted on simulations or on other situations we criticize in the men’s game. We are intervening now.”

Such as ensuring someone substituted “doesn’t greet all the players before going out (leaving the pitch) and so on — wasting time,” Infantino said. “All the things you don’t see in the women’s game.”

Diving has been reduced by the introduction of video review, Infantino said, while announcing his support for VAR at the June 7-July 7 Women’s World Cup in France. The decision will have to be ratified by the FIFA Council at a meeting in two weeks in Miami.

“Players now know that it’s not just sufficient to have a look where is the referee, so if he doesn’t see me I can simulate, because he or she will be caught,” Infantino said. “That’s why VAR automatically helps the fight against simulation and diving in a very efficient way.”

Handballs

To reduce controversies, the handball law has been adjusted.

Referees won’t necessarily have to decide if there was deliberate handling, but judge the outcome and whether an unfair advantage was obtained by gaining possession or control of the ball.

It won’t be an offense if the arm or hand is very close to the body but it will be if they are in an elevated position when the ball is handled. But even if a player accidentally handled while scoring, the goal would be ruled out.

Kicks and penalties

Disruptive behavior around free kicks should be reduced from June. The attacking team will not be allowed within 1 meter (yard) of the defensive wall in an attempt to stop players jostling and matches being delayed by the necessary intervention of referees.

In two changes affecting goalkeepers, goal kicks won’t have to leave the penalty area and only one foot will have to remain on the line when facing a penalty.

Substitutes

To speed up the game, players being substituted must leave the field at the nearest point rather than at the halfway line.

“It’s a fairly standard time-wasting tactic that when a manager wants to make a substitution, he can send a player to be substituted to the opposite end of the pitch,” said Scottish Football Association chief executive Ian Maxwell, one of the eight IFAB members.

FIFA has four delegates and the British nations have the other four, with six votes required for a change to the laws which come into effect from June.
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From: MeNeedIt

A new dance style, born in Chicago, is recognized around the world. It’s called hiplet and combines hip-hop and ballet. Ksenia Turkova traveled to Chicago to meet the Godfather of hiplet, Homer Hans Bryant.
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From: MeNeedIt

Jason Cerda is a professional dancer and recording artist. He’s performed on stage with Jennifer Lopez, Ricky Martin and other big-name musicians and now uses his expertise to teach young performers how to dance. Maxim Moskalkov has the story.
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From: MeNeedIt