Page 3 - United States Trade
Top US regulators say cryptocurrency poses financial stability risks
Top regulators on Monday recommended a series of new safeguards to ensure that a growing and unregulated cryptocurrency market doesn't imperil US financial stability. Among seven major recommendations, regulators called on Congress to pass legislation that would address the systemic risks caused by the growth of stablecoins, which are a form of cryptocurrency pegged to the price of another financial asset, like the US dollar or gold. Recent volatility in the cryptocurrency market, especially in stablecoins, has made regulators particularly wary about the need for regulation as usage of the digital asset continues to grow. Members of the Financial Stability Oversight Council met on Monday to approve the recommendations of a 125-page report created in response to President Joe Biden's March executive order on digital assets. The report also calls for giving agencies greater regulatory power over cryptocurrencies and digital assets. The oversight council is an interagency group heade
 "Top US regulators say cryptocurrency poses financial stability risks")
US, development banks unveil plan to ease food crisis caused by Ukraine war
Ahead of the G7 finance ministers' meetings, the global development banks and other groups unveiled a multi-billion dollar plan meant to address food security crisis exacerbated by Russia's war
 "US, development banks unveil plan to ease food crisis caused by Ukraine war")
Asian stocks join global rally, US yields cling to highs
MSCI's broadest index of Asia-Pacific shares outside Japan added 1.5% to its highest in two weeks, helped by a 3.8% gain in Hong Kong-listed tech stocks
 "Asian stocks join global rally, US yields cling to highs")
USTR says moving to terminate India trade retaliation after tax agreement
Washington and New Delhi agreed on a global tax deal transition arrangement
 "USTR says moving to terminate India trade retaliation after tax agreement")
India, US to look for ways to resolve market access, trade issues
India and the United States agreed to look for ways to resolve differences on issues such as market access and digital trade at the start of a two-day visit by U.S. Trade Representative Katherine Tai
 "India, US to look for ways to resolve market access, trade issues")
Better co-ordination
US partnership needs a greater understanding of trade-offs
Washington wants 'mutually beneficial' relationship with South Korea: USTR
US Trade Representative (USTR) Katherine Tai emphasized Washington's will to strengthen a "mutually beneficial" relationship with South Korea
 "Washington wants 'mutually beneficial' relationship with South Korea: USTR")
US Trade Representative Katherine Tai to visit India in November
Katherine Tai will travel to India next month, her office announced
 "US Trade Representative Katherine Tai to visit India in November")
Inclusion in USTR report on notorious mkts list is ill-informed: Snapdeal
Snapdeal, along with four Indian shopping complexes, two of them in New Delhi alone, have figured in the latest 2020 Review of Notorious Markets for Counterfeiting and Piracy
 "Inclusion in USTR report on notorious mkts list is ill-informed: Snapdeal")
US firms look for stable policy to make India hub: USISPF's Mukesh Aghi
While the forum is advocating India not just as a preferred market but also as an export hub, many member firms have raised concerns about sudden policy changes impacting inbound global investments.
 "US firms look for stable policy to make India hub: USISPF's Mukesh Aghi")
GRAPHIC: Tracking United States' trade
North American trade partners supplied 25.8% of import sales to the US
 "GRAPHIC: Tracking United States' trade")