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US trade deficit with China not sustainable, Trump warns Xi

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Washington, Jan 17 (IANS) President Donald Trump warned his Chinese counterpart, Xi Jinping, that Washington’s trade deficit with China “has continued to grow” and that the situation “is not sustainable,” the White House said on Tuesday.

Trump and Xi spoke by telephone late on Monday in Washington, when it was already Tuesday morning in Beijing, and also discussed diplomatic progress on the Korean peninsula, Efe reported.

“President Trump expressed disappointment that the United States’ trade deficit with China has continued to grow. President Trump made clear that the situation is not sustainable,” said the White House in a statement after the call.

The US trade deficit with China increased by 13 percent in 2017, the first year of Trump’s presidency, to 1.87 trillion yuan ($288 billion), according to official figures released last Friday in Beijing.

Meanwhile, the US Department of Commerce reported in early January that the negative trade balance between the US and China totalled $344.4 billion between January-November 2017, with figures for December still being unavailable at the time.

Trump considers the trade deficit to be a sign of economic weakness and has blamed it on the existing trade agreements with other countries that, in his judgment, are the root cause of job losses in the US manufacturing sector.

The US president during his election campaign threatened to impose tariffs of up to 45 percent on Chinese products and to declare China to be a currency manipulator, but for the moment he has not taken any action on those two issues, believing that first he must develop a closer working relationship with Xi to resolve the crisis involving North Korea.

In their telephone conversation, Trump and Xi “acknowledged the resumption of inter-Korean dialogue and expressed hope that it might prompt a change in North Korea’s destructive behaviour,” the White House said.

“President Trump committed to sustain the United States-led global campaign of maximum pressure to compel North Korea to commit to denuclearisation,” the White House added.

According to the official Chinese press, Xi insisted during the call that all parties must join efforts to capitalize on advances on the Korean peninsula and create the conditions for resuming diplomatic negotiations.

Regarding trade, Xi emphasized that economic and trade cooperation between Washington and Beijing has provided concrete benefits for both parties, and thus constructive methods should be used to resolve bilateral differences in this area via greater opening of both markets, according to the Chinese version of the call.

–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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