Altmaier allowed that "global free trade is certainly not perfect yet," adding that if Washington is unhappy "we have to talk about it rather than acting unilaterally."Companies and consumers on both sides would foot the bill if the US and Europe tumble into a trade war," Altmaier said.
For the close ally of Chancellor Angela Merkel, top of the agenda at meetings in the US capital will be Trumps planned tariffs of 25 per cent on imported steel and 10 per cent on aluminium.Frankfurt am Main: US President Donald Trump "will not succeed" in dividing European nations against one another over trade, German Economy Minister Peter Altmaier warned on Sunday ahead of a visit to Washington.In the European Union "we are a customs union and act collectively."Responding to Trumps threat to slap tariffs on German car imports if the EU retaliates over his metals levies, Altmaier added that "German cars are successful in all world markets because theyre so good. Higher border taxes would be the wrong response to that. It cannot be in the interest of the US government to divide Europe, nor will https://www.zzelec.com/product/parts-other/fuel-pump-components-housing/ it succeed," Altmaier told German business daily Handelsblatt.
The US leader says the shock measures are in response to "unfair" trade practices, but the EU has vowed to retaliate -- including with levies on imports of whiskey or motorcycles -- raising the spectre of a tit-for-tat trade war.In a statement Saturday, Merkels office said the German leader had spoken with Chinese President Xi Jinping.Meanwhile, countries like China that stand accused of flooding global markets with cheap steel would be "laughing on the sidelines", he added.".The two backed continuing talks among the G20 group of industrialised and emerging nations on cutting steel overproduction which have so far had little impact.

Handicapped by the chaotic roll out of a goods and service tax (GST) last year and a shock, overnight move to take high value banknotes out of circulation in late 2016, India’s economy is expected to post growth of 6.Mumbai: India’s government https://www.zzelec.com will unveil its budget for the 2018/19 fiscal year on Thursday, with investors expecting increased investment in key areas such as agriculture, and a slew of incentives for businesses.Below is a list of expectations across markets and corporate sectors.
TaxesReduce corporate tax rate to 25 per cent from 30 per centCut Minimum Alternative Tax to 15 per cent from 18.5 per centEnhance tax deductions, exemptions for individualsMay tax long-term capital gains in investmentsAgricultureEstablish fund to guarantee credit to encourage investment in agriculture sectorAllocate more funds for crop insurance schemesIncrease spending for dams and canals, micro irrigation systemsProvide subsidies for building cold storage to avoid wastage of perishable cropsReduce fertiliser subsidiesBanksAllow full tax deduction for provisioning of non-performing assets at lendersRaise the threshold for tax deduction on the interest paid on bank deposits from current 10,000 rupeesReduce the tenure of tax-exempted retail term deposits to minimum of 3 years from current 5Allow tax relief for proceedings under insolvency codeInfrastructureIncrease investment by 10-15 per cent in roads from 2017/18 budgetProvide support for key road projects, including Bharatmala project, which will connect western and eastern IndiaIncrease railways investments by 10 per cent from 2017/18 budgetTech/ITProvide greater incentives for digital transactionsSupport digital payments infrastructureRationalise tariff structure, excise duties for mobile phones, tablet computersLower GST rates for telecom services to 12 per cent from 18 per centAutosAnnounce policy on scrapping commercial vehicles that do not comply with emission norms if operational for over 15 yearsLower GST rates on electric vehicles, currently at 12 per centReal estateSet single-window clearance for all real estate projects, especially housing to avoid execution and project delaysGive infrastructure status to real estate to help bring down finance, project costs, make homes more affordableReduce GST rate for projects under construction from current 12 per cent    Spend more on affordable housingReduce GST rate for home purchases to 12 per cent; stamp duty could also be cutOil and GasReduce "cess" duty to 8-10 per cent from 20 per cent for oil and gas exploration and productionSet more beneficial GST rates for natural gasReduce or exempt city gas distribution companies from excise dutyExempt LNG imports from paying basic customs dutyProvide subsidy aid to downstream companies selling LPG, kerosene below market pricesMetals and MiningDecrease in basic customs duty on coking coal across gradesDecrease in export duty on iron ore above certain grade levelsHike basic customs duty on aluminium scrap to protect domestic industryAccelerate minerals explorationGoldCut import tax on gold to 2-4 per cent from 10 per cent to prevent smuggling.The government is widely expected to increase spending to ensure growth recaptures momentum, but most investors expect it to be prudent as loosening fiscal deficit targets by too much would likely spark a sell-off in the bond market.

Cox’s Bazaar: Hungry, destitute and scared, thousands of new Rohingya refugees crossed the border into Bangladesh from Myanmar early on Monday, fleeing attacks by Buddhist mobs and hunger that the United Nations has called ethnic cleansing. Hundreds of thousands of Rohingya had already been in Bangladesh after fleeing previous spasms of violence in Myanmar, where they have long been denied citizenship and faced restrictions on their movements and access to basic services.A seemingly never-ending line entered Bangladesh near the village of Palongkhali. Myanmar rejects accusations of ethnic cleansing and has labelled the militants from the Arakan Rohingya Salvation Army who launched the initial attacks as terrorists who have killed civilians and burnt villages. Before we left, I went back near my village to see my house, and the entire village was burnt down," Shoaib said.The powerful army chief, Min Aung Hlaing, told the United States ambassador in Myanmar last week that the exodus of Rohingya, who he said were non-native "Bengalis", was exaggerated.Food, Aid RestrictedThe refugees who arrived in Bangladesh on Monday said they were driven out by hunger because food markets in Myanmar’s western Rakhine state have been shut down and aid deliveries restricted.
They also https://www.zzelec.com reported attacks by the military and Rakhine Buddhist mobs.Myanmar’s de facto leader, Aung San Suu Kyi, has pledged accountability for human rights abuses and says the country will accept back refugees who can prove they were residents of Myanmar. 25, when coordinated Rohingya insurgent attacks sparked a ferocious military response, with the fleeing people accusing security forces of arson, killings and rape.They walked to join some 536,000 Rohingya Muslims who have fled Myanmar since Aug.The United States and the European Union have been considering targeted sanctions against Myanmar’s military leaders, diplomats and officials have told Reuters, although they are wary of action that could destabilize the country’s transition to democracy."We couldn’t step out of the house for the last month because the military were looting people.EU foreign ministers will discuss Myanmar on Monday, and their draft joint statement said the bloc "will suspend invitations to the commander-in-chief of the Myanmar/Burma armed forces and other senior military officers"."Day by day things kept getting worse, so we started moving towards Bangladesh.
They started firing on the village.Wading through waste-deep water with children strapped to their sides, the Rohingya had walked through bushes and forded monsoon-swollen streams for days from Myanmar’s Buthidaung region before reaching the border.Read: Media exaggerated Rohingya refugees fleeing number: Myanmar army chiefHe wore a yellow vest and was balancing his jute bags, carrying some food and aluminium pots, on a bamboo pole. So we escaped into another village," said Mohammad Shoaib, 29. Many were injured, with the elderly on makeshift stretchers, and women balanced family belongings - pots, rice sacks, clothing - on their heads.