Snow says cutting trade deficit a priority
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Treasury Secretary John Snow said Wednesday cutting the US current account deficit will be a top priority for the Bush administration&#39;s second term.
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President George W. Bush&#39;s bid to restructure Social Security and make tax cuts permanent competed with budget and trade deficit concerns during a two-day conference of economists and executives that began today.
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The trade deficit shrank much more  than expected in April to $58.5 billion, as the weakening U.S.  dollar appeared to depress import demand and help push exports  to a record, a U.S. Commerce Department report on Friday  showed.
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The deficit in trade in goods shrank to 6.2 billion pounds in January from 6.9 billion in December, official data showed Tuesday.
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DES MOINES, Iowa, Aug 20  - High foreign ownership of US debt is &quot;a healthy situation&quot; and the dollar will remain the world&#39;s preferred reserve currency, Treasury Secretary John Snow said on Friday.
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In advance of sending a high-level U.S. delegation to Beijing, the Bush administration on Friday said China must move faster on reforms addressing America's soaring trade deficit or run the risk of a protectionist backlash.
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US Treasury Secretary John Snow acknowledged that big US deficits are playing a role in global economic imbalances, but cited a &quot;shared responsibility&quot; to fix the problems.
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The U.S. current account deficit  narrowed more than expected in first quarter to &#36;208.7 billion,  as exports of U.S. goods rose more than goods imports and  unilateral current transfers fell sharply, the Commerce  Department said on Friday.
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U.S. Treasury Secretary John Snow on  Tuesday pledged a renewed drive to get countries like China to  adopt flexible currency rates so that U.S. trade deficits do  not continue to swell.
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WASHINGTON : The United States should cuts its fiscal and trade deficits, while Europe and Japan should take steps to boost economic growth, IMF managing director Rodrigo Rato revealed.
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Treasury Secretary John Snow pledged to reduce the US budget deficit, blamed by Europeans for the euro&#39;s gains against the dollar and cited as a risk to global growth by ministers from 20 industrial and emerging economies.
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The United States is convinced that  China intends to loosen its currency peg, U.S. Treasury  Secretary John Snow said on Monday as he encouraged the Asian  giant to speed up the process of reform.
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US Treasury Secretary John Snow began a European tour aiming to highlight the need for stronger economic growth in Europe and elsewhere as Washington tries to blunt criticism over massive US deficits that have pushed the dollar to new lows.
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Federal Reserve chairman Alan Greenspan says the US is on track to stabilise and even reduce the trade deficit.
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With lawmakers nipping at his heels over U.S. trade deficits, Treasury Secretary Henry Paulson will try to persuade key Asian nations during a visit this week that they must act quickly to help tamp down protectionist pressures.
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NEW YORK, December 16  - President Bush said yesterday that his government was committed to supporting the US dollar by tackling the countryâs trade deficit issues.
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FRANKFURT (AFX) - European Central Bank president Jean-Claude Trichet has called on the US to reduce its budget deficit, saying this will help facilitate a &quot;gradual and smooth correction&quot; of the ballooning US current account deficit.