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Trump’s commercial policy could undermine trade with Latin America

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Lima, Nov 19 (IANS) The US trade policy has taken such a drastic turn that it may well affect trade with Latin America, said Sebastian Herreros, the representative for economic affairs of the Economic Commission for Latin America and the Caribbean (ECLAC).

Herreros told Xinhua news agency in an interview that, according to ECLAC, around 24.9 per cent of the total US exports head to Latin America and the Caribbean while imports from the region account for 19.2 per cent of the total.

“Clearly, the emphasis that was on multilateralism and commitment to free trade and historic precepts of the US trade policy, are now being questioned,” he noted.

“There is a new focus that is far more centered on reducing trade deficits, on bilateralism, and in certain cases, far more protectionist attitudes.”

Among US President Donald Trump’s first measures after taking office was to remove the country from the Trans-Pacific Partnership (TPP).

“A very obvious proof was the U.S. exit from the TPP, the suspension of the Transatlantic Trade and Investment Partnership (TTIP) with the EU and the questions being directed at the World Trade Organization,” he noted.

However, in the region, preoccupation has been centered around the current renegotiation of North American Free Trade Agreement (NAFTA).

“The renegotiation of NAFTA falls under the same logic. It has not been going very well until now and many of the proposals made by the US are really very radical, very difficult for Canada and Mexico to accept,” explained Herreros.

“There is a very strong uncertainty on whether the negotiations will finish safe and sound, and if they do not, what will happen next,” he indicated.

“The US has said that if the new agreement is not satisfactory, it will exit, which would certainly have strong consequences for Mexico and Canada.”

However, Trump’s threats are not limited to North America and has made it clear that other trade deals signed with other countries in the region such as Chile, Colombia and Peru will feel the impact.

According to ECLAC, around 70 per cent of the US imports from Latin America come from Mexico and cover 4,808 products.

The renegotiation of NAFTA and other potential changes to US trade policy could negatively affect trade in the region, ECLAC said.

–IANS
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Dr. Abhishek Verma Dedicates a Shelter in Memory of His Mother, Veena Verma, at KGMU; Inaugurated by Daughter Nicolle Verma

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World-renowned business tycoon Dr. Abhishek Verma has supported Foodman Vishal Singh’s Hunger-Free World mission. In memory of his mother, Late Veena Verma, who was a 3 term Rajya Sabha MP.

Dr. Verma dedicated a state-of-the-art free permanent shelter for the attendants of patients at KGMU Medical University, Lucknow, under the aegis of Vijay Shree Foundation. His daughter, Nicolle Verma, inaugurated the shelter.

During the event, Foodman Vishal Singh honored Nicolle Verma by presenting her with a memento. Mrs. Nidhi Sharma and Avantika Yadav, associated with the organization, welcomed her with garlands. Following this, Nicolle Verma distributed essential items to the attendants and also handed out fruits. She became emotional remembering her grandmother on her birth anniversary.

On this occasion, she also inaugurated the “Veena Verma Sevalaya” in memory of her grandmother, Veena Verma, to serve the attendants. She expressed, “I feel proud that my family is engaged in nation-building as well as social service. Today, in collaboration with Vijay Shree Foundation founder Foodman Vishal Singh Ji, I feel immensely proud to dedicate this shelter for the poor, helpless, and needy attendants of patients battling serious illnesses like cancer. I am honored to be associated with the Hunger-Free World Mission for humanity.”

Inspired by the continuous humanitarian service provided by Vijay Shree Foundation over the past 17 years, Nicolle Verma donated 10 lakh rupees to support the cause. The purpose of this donation is to ensure that services continue for the needy attendants of patients suffering from severe illnesses in hospitals, as facilitated by Foodman Vishal Singh.

It is noteworthy that Dr. Abhishek Verma’s family has a legacy of public and philanthropic service. They are helping millions to carry forward the values and service work of their parents. On the occasion of his mother’s birth anniversary, Dr. Abhishek Verma dedicated this state-of-the-art permanent shelter at Lucknow Medical College to serve the attendants of patients through the Vijay Shree Foundation.

Supporting Foodman Vishal Singh’s Hunger-Free World mission, Dr. Abhishek Verma assured that he would continually support keeping this flame of humanity alive. He also promised to assist in providing medicines to the helpless patients.

Continuing her grandmother’s legacy of service, Nicolle Verma personally served food to the needy patients and attendants. She said, “It is our good fortune to have received the joy of doing this noble work today through Foodman Vishal Singh. I have taken another step forward in carrying my family’s values and cooperation by joining hands with the Vijay Shree Foundation. My father taught me to serve and help the needy, and I feel happy when I bring a smile to someone’s face.”

On the birth anniversary of the late Veena Verma, the event organizer, Vijay Shree Foundation founder Foodman Vishal Singh, said, “We feel proud and happy that Dr. Abhishek Verma, a globally renowned business tycoon, has extended his support to uplift our country from the hunger index. Today, on his mother’s birth anniversary, he inaugurated a state-of-the-art permanent shelter at Lucknow Medical College, which will always be helpful for the needy attendants of patients. It is a pleasure for me and the organization to receive the affection of Mr. Verma.”

The event was attended by General Manager Verma Family Office Hemant Garg, Sonu Rajput, and the organization’s volunteers, including Sandeep Singh, Parmeshwar Ji, Prashant Rao Gautam, Balram Singh, Ramesh Chaudhary, Suman, Jeetu, Anil, Suraj, Vinay, Manish Bhadauria, Manas Mehrotra, Vivek, Apurv, Happy, and others.

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