Surprise and suspicion in Thailand as pro-military party leads election race

A party linked to Thailand’s military led the popular vote after most ballots had been counted from Sunday’s general election, the country’s first since a 2014 coup, giving it a surprise advantage over anti-junta parties hoping to make a comeback. Pheu Thai, a party linked to the self-exiled former premier Thaksin Shinawatra whose loyalists have won every election since 2001, fell short of expectations that it would outdistance the military’s proxy party. However, it still looked likely to have


A party linked to Thailand’s military led the popular vote after most ballots had been counted from Sunday’s general election, the country’s first since a 2014 coup, giving it a surprise advantage over anti-junta parties hoping to make a comeback. Pheu Thai, a party linked to the self-exiled former premier Thaksin Shinawatra whose loyalists have won every election since 2001, fell short of expectations that it would outdistance the military’s proxy party. However, it still looked likely to have
Surprise and suspicion in Thailand as pro-military party leads election race Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-25  Authors: lauren decicca, getty images
Keywords: news, cnbc, companies, turnout, military, leads, party, lower, surprise, ballots, thailand, results, numbers, suspicion, election, promilitary, linked, parliament, race


Surprise and suspicion in Thailand as pro-military party leads election race

A party linked to Thailand’s military led the popular vote after most ballots had been counted from Sunday’s general election, the country’s first since a 2014 coup, giving it a surprise advantage over anti-junta parties hoping to make a comeback.

Unofficial results will be announced on Monday afternoon, so it is still not certain that the Palang Pracharat party backing junta chief Prayuth Chan-ocha will have enough lower house of parliament seats for him to stay on as prime minister.

Pheu Thai, a party linked to the self-exiled former premier Thaksin Shinawatra whose loyalists have won every election since 2001, fell short of expectations that it would outdistance the military’s proxy party. However, it still looked likely to have the largest share of parliament seats.

The strong showing by the pro-junta party dismayed voters who had hoped the poll would loosen the grip that traditional elites and the military have long held on power in a country that has one of the highest measures of inequality in the world.

Many took to social media to voice their suspicions about the results of an election which critics had said was skewed in favor of the military from the outset.

Thai-language hashtags that translated as “Election Commission screw-up” and “cheating the election” were trending at numbers one and three on Twitter in Thailand.

Many tweets referred to inconsistencies between the numbers for voter turnout and ballots cast in some parliamentary constituencies, and some questioned the overall turnout of less than 70 percent, which was much lower than expected.


Company: cnbc, Activity: cnbc, Date: 2019-03-25  Authors: lauren decicca, getty images
Keywords: news, cnbc, companies, turnout, military, leads, party, lower, surprise, ballots, thailand, results, numbers, suspicion, election, promilitary, linked, parliament, race


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Trump’s bold claims about cutting red tape give Democrats a possible weapon in 2020 election

President Donald Trump is happy to boast that he slashes more regulations than any president who preceded him. He literally cut red tape in the White House in December 2017 while standing before stacks of paper representing rules. Democratic candidates aim to turn Trump’s rhetoric about regulation against him as they try to deny him a second term next year. Lacking signature achievements beyond the GOP tax law, Trump wants to attribute a strong economy — his best selling point — in part to his p


President Donald Trump is happy to boast that he slashes more regulations than any president who preceded him. He literally cut red tape in the White House in December 2017 while standing before stacks of paper representing rules. Democratic candidates aim to turn Trump’s rhetoric about regulation against him as they try to deny him a second term next year. Lacking signature achievements beyond the GOP tax law, Trump wants to attribute a strong economy — his best selling point — in part to his p
Trump’s bold claims about cutting red tape give Democrats a possible weapon in 2020 election Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-24  Authors: jacob pramuk, saul loeb, getty images, brian snyder
Keywords: news, cnbc, companies, cutting, election, rules, red, trumps, claims, weapon, big, tape, rhetoric, regulation, law, possible, regulations, bold, democrats, cut, trump, president


Trump's bold claims about cutting red tape give Democrats a possible weapon in 2020 election

President Donald Trump is happy to boast that he slashes more regulations than any president who preceded him. He literally cut red tape in the White House in December 2017 while standing before stacks of paper representing rules.

The president may want to tread carefully on the issue as the 2020 election nears. Democratic candidates aim to turn Trump’s rhetoric about regulation against him as they try to deny him a second term next year.

Trump campaigned on chopping regulations, arguing fewer rules would boost businesses and the economy. He has made some significant changes — rolling back Obama administration efforts to limit emissions from coal-burning power plants and automobiles, among other steps. The president also backed a law to scrap some bank rules passed after the 2008 financial crisis. While bank stocks took a beating in December along with the broader market, the Financial Select Sector SPDR ETF — which counts the largest U.S. banks among its top holdings — has climbed nearly 10 percent since Trump took office.

The deregulation message features prominently in his re-election rhetoric. In his State of the Union address last month, Trump claimed his administration “has cut more regulations in a short period of time than any other administration during its entire tenure.”

The president has actually done more to slow the pace of new regulations, or ease enforcement of current rules, than cut them entirely, according to several experts who track regulation. But that has not stopped both Republicans and Democrats from acting like he has taken more drastic steps to slash government rules.

Whether to put new limits on companies could become a point of conflict in the 2020 election. Lacking signature achievements beyond the GOP tax law, Trump wants to attribute a strong economy — his best selling point — in part to his push to cut regulations on businesses. At the same time, Trump’s rhetoric could boost one of Democrats’ main arguments: that the president has crafted his policy to help big business rather than consumers and the working class.

“Inflating what he’s done on the regulatory front is to his advantage,” said Cary Coglianese, a professor at the University of Pennsylvania Law School and director of its regulation program. “But on the other hand, progressives will embrace that narrative too, to paint Republicans as being in the pocket of big business, of contributing to a system that’s rigged in favor of the big banks, big insurance companies, big pharmaceutical companies.”

The argument becomes harder for Democrats to make if the economy and job market remain strong as November 2020 nears. A recent pickup in U.S. wage growth — which had previously lagged despite solid job creation — could only help Trump’s re-election case.


Company: cnbc, Activity: cnbc, Date: 2019-03-24  Authors: jacob pramuk, saul loeb, getty images, brian snyder
Keywords: news, cnbc, companies, cutting, election, rules, red, trumps, claims, weapon, big, tape, rhetoric, regulation, law, possible, regulations, bold, democrats, cut, trump, president


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After comeback, the stock market is aligned with a historical pattern with perfect track record

Stocks hit a new high for the year this week, back on track to match a post-election pattern that has stood the test of time. The stock market has risen in the year after all 18 midterm elections since World War II, with the S&P 500 delivering an average return of 14.5 percent, according to LPL Financial Research. After this week’s rally, the stock market has bounced back from December’s steep sell-off with the S&P 500 up more than 12 percent year to date. President Donald Trump, ‘glued’ to the


Stocks hit a new high for the year this week, back on track to match a post-election pattern that has stood the test of time. The stock market has risen in the year after all 18 midterm elections since World War II, with the S&P 500 delivering an average return of 14.5 percent, according to LPL Financial Research. After this week’s rally, the stock market has bounced back from December’s steep sell-off with the S&P 500 up more than 12 percent year to date. President Donald Trump, ‘glued’ to the
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Company: cnbc, Activity: cnbc, Date: 2019-03-16  Authors: yun li, johannes eisele, afp, getty images
Keywords: news, cnbc, companies, trump, record, sp, pattern, stocks, 500, stock, comeback, election, track, aligned, week, good, historical, market, perfect


After comeback, the stock market is aligned with a historical pattern with perfect track record

Stocks hit a new high for the year this week, back on track to match a post-election pattern that has stood the test of time.

The stock market has risen in the year after all 18 midterm elections since World War II, with the S&P 500 delivering an average return of 14.5 percent, according to LPL Financial Research. The pattern is pointing to a longer bull run even after this year’s epic rebound.

“With the S&P 500 up only 1.3 percent since the midterm election last November, there indeed could still be room for stocks to run in 2019,” LPL’s Ryan Detrick said in a note on Wednesday.

After this week’s rally, the stock market has bounced back from December’s steep sell-off with the S&P 500 up more than 12 percent year to date. And there are a couple catalysts that could send stocks even higher, including a China trade deal that could take the uncertainty out of the market and a helping hand from the Federal Reserve that already signaled a more “patient” approach to rate hikes and it is prepared to “adjust” balance sheet unwind if needed.

President Donald Trump, ‘glued’ to the stock market’s fluctuations, is a big champion of this market pattern as he views a booming market as his way to re-election. CNBC reported last week Trump is pushing hard to strike a trade deal with China in the hope of lifting the stock market ahead of his re-election bid.

“The third year leading up to an election tends to be a very good one for the market because the president is trying to have the economy and the party in power looking good for getting re-elected,” Andrew Slimmon, senior portfolio manager at Morgan Stanley Investment Management, said on CNBC’s Power Lunch.

The year prior to a presidential election has almost always been a good one — in the last 19 such years, the market is up on average 15 percent and 18 out of 19 times it’s been positive, according to Slimmon.

The pattern can also be explained by the gridlock situation often seen after an election, where lawmakers and the President are unlikely to do harm or remove any bullish policy that is already in place.

— With reporting from CNBC’s Michael Bloom


Company: cnbc, Activity: cnbc, Date: 2019-03-16  Authors: yun li, johannes eisele, afp, getty images
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Thailand election: Economic growth, income inequality are key issues

Investors are hoping for greater political and economic stability in Thailand after the country’s upcoming general election — but some analysts aren’t so sure that will come to pass. This year, foreign buying of Thai equities has not return in a significant way, with many investors opting to wait for clarity on the political front. The election on March 24 will be Thailand’s first since a military coup overthrew the elected government in 2014. An anti-military camp that consist of the Pheu Thai


Investors are hoping for greater political and economic stability in Thailand after the country’s upcoming general election — but some analysts aren’t so sure that will come to pass. This year, foreign buying of Thai equities has not return in a significant way, with many investors opting to wait for clarity on the political front. The election on March 24 will be Thailand’s first since a military coup overthrew the elected government in 2014. An anti-military camp that consist of the Pheu Thai
Thailand election: Economic growth, income inequality are key issues Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-14  Authors: yen nee lee, gonzalo azumendi, getty images
Keywords: news, cnbc, companies, thailand, economic, party, minister, foreign, election, thai, growth, political, issues, parties, income, prime, inequality, key, investors


Thailand election: Economic growth, income inequality are key issues

Investors are hoping for greater political and economic stability in Thailand after the country’s upcoming general election — but some analysts aren’t so sure that will come to pass.

Last year, the Thai stock market suffered a record $9 billion in foreign investment outflows as investors withdrew from emerging markets amid rising interest rates in the U.S. and global economic concerns. This year, foreign buying of Thai equities has not return in a significant way, with many investors opting to wait for clarity on the political front.

The election on March 24 will be Thailand’s first since a military coup overthrew the elected government in 2014. The vote is set to be a contest between three political fractions:

A pro-military camp that include the Palang Pracharat Party, which named current Prime Minister Prayuth Chan-o-cha as its candidate to lead the country.

An anti-military camp that consist of the Pheu Thai Party — which is linked to exiled former Prime Minister Thaksin Shinawatra — and the newly founded Future Forward Party.

A group of parties that are neutral or undecided on which side they would align, including the Democrat Party led by another former prime minister, Abhisit Vejjajiva, and Bhumjaithai Party, which recently made headlines for its promotion of marijuana as a new cash crop in Thailand.

None of the parties are expected to single-handedly win enough seats to form the next government, which means the most likely scenario is a coalition administration. That may be challenging, however, in a polarized political environment like Thailand, analysts said.


Company: cnbc, Activity: cnbc, Date: 2019-03-14  Authors: yen nee lee, gonzalo azumendi, getty images
Keywords: news, cnbc, companies, thailand, economic, party, minister, foreign, election, thai, growth, political, issues, parties, income, prime, inequality, key, investors


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Thai court bans party for nominating princess for PM

“The court has ordered that the party be dissolved,” Judge Taweekiet Meenakanit said in the Constitutional Court ruling, which also banned the party’s executive board members from politics for 10 years. Thai Raksa Chart is one of several parties loyal to ousted former prime minister Thaksin Shinawatra in an election that broadly pits his supporters against establishment parties, including one that has junta leader Prayuth Chan-ocha as its prime ministerial candidate. Police had deployed more tha


“The court has ordered that the party be dissolved,” Judge Taweekiet Meenakanit said in the Constitutional Court ruling, which also banned the party’s executive board members from politics for 10 years. Thai Raksa Chart is one of several parties loyal to ousted former prime minister Thaksin Shinawatra in an election that broadly pits his supporters against establishment parties, including one that has junta leader Prayuth Chan-ocha as its prime ministerial candidate. Police had deployed more tha
Thai court bans party for nominating princess for PM Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-07  Authors: lillian suwanrumpha, afp, getty images, lawrence k ho los angeles times getty images, krit phromsakla na sakolnakorn, thai news pix
Keywords: news, cnbc, companies, nominating, bans, junta, parties, constitutional, prime, party, leader, minister, court, election, thai, ruling, princess


Thai court bans party for nominating princess for PM

“The court has ordered that the party be dissolved,” Judge Taweekiet Meenakanit said in the Constitutional Court ruling, which also banned the party’s executive board members from politics for 10 years.

Thai Raksa Chart is one of several parties loyal to ousted former prime minister Thaksin Shinawatra in an election that broadly pits his supporters against establishment parties, including one that has junta leader Prayuth Chan-ocha as its prime ministerial candidate.

Opposition parties say Prayuth’s candidacy, combined with electoral laws allowing the junta to appoint the 250-seat upper house Senate, could result in an elected government that extends military influence.

Police had deployed more than 1,000 officers in and around the court and cordoned off the surrounding area ahead of the ruling.

Party leader Preechapol Pongpanich, who was visibly emotional, told reporters outside the court the party accepted the ruling. “We all had good intentions for the country,” he said.

Supporters were seen crying, saying they would vote instead for other opposition parties.

The Election Commission asked the court to dissolve the party after it nominated Princess Ubolratana Rajakanya Sirivadhana Barnavadi for prime minister, which the commission described as “antagonistic toward the constitutional monarchy”.


Company: cnbc, Activity: cnbc, Date: 2019-03-07  Authors: lillian suwanrumpha, afp, getty images, lawrence k ho los angeles times getty images, krit phromsakla na sakolnakorn, thai news pix
Keywords: news, cnbc, companies, nominating, bans, junta, parties, constitutional, prime, party, leader, minister, court, election, thai, ruling, princess


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2020 election: Democratic primary candidates back debt-free college

Four of the six senators in the Democratic primary co-sponsored legislation aiming to make public college debt-free, which Sen. Brian Schatz, D-Hi., introduced on Wednesday. The Schatz plan, first proposed last year, would allow participating states to receive federal money matching the amount they give to state colleges. The proposal comes as some lawmakers and activists push to address the mounting student debt crisis. The U.S. student debt burden topped $1.5 trillion by the fourth quarter of


Four of the six senators in the Democratic primary co-sponsored legislation aiming to make public college debt-free, which Sen. Brian Schatz, D-Hi., introduced on Wednesday. The Schatz plan, first proposed last year, would allow participating states to receive federal money matching the amount they give to state colleges. The proposal comes as some lawmakers and activists push to address the mounting student debt crisis. The U.S. student debt burden topped $1.5 trillion by the fourth quarter of
2020 election: Democratic primary candidates back debt-free college Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-07  Authors: jacob pramuk, scott olson, getty images
Keywords: news, cnbc, companies, debtfree, debt, race, sen, primary, candidates, student, plan, schatz, cost, democratic, 2020, college, election, students, sanders


2020 election: Democratic primary candidates back debt-free college

Nearly all Senate Democrats running for president in 2020 have embraced a massive overhaul of how students pay for college.

Four of the six senators in the Democratic primary co-sponsored legislation aiming to make public college debt-free, which Sen. Brian Schatz, D-Hi., introduced on Wednesday. Sens. Cory Booker of New Jersey, Kirsten Gillibrand of New York, Kamala Harris of California and Elizabeth Warren of Massachusetts have all backed the plan. While Sen. Bernie Sanders, a Vermont independent running for president as a Democrat, was not among the initial co-sponsors, he has put forth his own plan to make public colleges and universities tuition-free.

Only one senator in the race has not endorsed either the Schatz or Sanders proposals: Sen. Amy Klobuchar, D-Minn. It fits with the Midwestern Democrat’s strategy of casting herself as a more middle-of-the-road alternative to her colleagues.

With the exception of former Vice President Joe Biden, who has not yet entered the race, the candidates near the top of early Democratic primary polls have generally been senators.

The Schatz plan, first proposed last year, would allow participating states to receive federal money matching the amount they give to state colleges. To get those funds, they would have to commit to helping students cover the full cost of attendance — not just tuition — without taking on debt.

In putting the bill forward, Schatz said “we need to focus on the real cost to students and their families” if “we are going to be serious about solving the student loan debt crisis.” The proposal comes as some lawmakers and activists push to address the mounting student debt crisis. It does not offer a cost estimate.

The U.S. student debt burden topped $1.5 trillion by the fourth quarter of last year, according to the Federal Reserve. Research has found the mountain of debt has affected other parts of the economy, including home ownership.

The Democratic primary will in part be defined by how far candidates want to move toward solving problems, and how quickly. Fault lines have already emerged on issues from student loans to health care.

Klobuchar, considered one of the more centrist candidates in the race, has embraced what she considers a more pragmatic solution. Asked last month about the Sanders plan, Klobuchar said “I am not for free four-year college for all.”

She worried about the cost of such a plan — potentially tens of billions of dollars per year.

“I wish — if I was a magic genie and could give that to everyone and we could afford it, I would,” she said at a CNN town hall event.

Klobuchar has pushed for up to two years of free community college and the expansion of Pell Grants. She has also supported allowing borrowers to refinance student loans at lower rates and backed expanded tax credits for education after high school.

Subscribe to CNBC on YouTube.


Company: cnbc, Activity: cnbc, Date: 2019-03-07  Authors: jacob pramuk, scott olson, getty images
Keywords: news, cnbc, companies, debtfree, debt, race, sen, primary, candidates, student, plan, schatz, cost, democratic, 2020, college, election, students, sanders


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Google plans to ban political ads before Canada election

Alphabet Inc’s Google will ban political advertising on its platform before the Canadian federal election, after the country introduced stringent transparency rules. The Bill C-76, which was passed in December, requires online platforms to keep a registry of all political and partisan advertisements they directly or indirectly publish. “For the duration of the 2019 federal election campaign, Google will not accept advertising regulated by Bill C-76,” Colin McKay, Google Canada’s head of public p


Alphabet Inc’s Google will ban political advertising on its platform before the Canadian federal election, after the country introduced stringent transparency rules. The Bill C-76, which was passed in December, requires online platforms to keep a registry of all political and partisan advertisements they directly or indirectly publish. “For the duration of the 2019 federal election campaign, Google will not accept advertising regulated by Bill C-76,” Colin McKay, Google Canada’s head of public p
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Company: cnbc, Activity: cnbc, Date: 2019-03-05  Authors: carsten koall, getty images
Keywords: news, cnbc, companies, canada, plans, ban, ads, bill, political, federal, canadian, election, google, c76, advertising, campaign, platforms


Google plans to ban political ads before Canada election

Alphabet Inc’s Google will ban political advertising on its platform before the Canadian federal election, after the country introduced stringent transparency rules.

The Bill C-76, which was passed in December, requires online platforms to keep a registry of all political and partisan advertisements they directly or indirectly publish.

“For the duration of the 2019 federal election campaign, Google will not accept advertising regulated by Bill C-76,” Colin McKay, Google Canada’s head of public policy, said in a statement.

“We’re focusing our efforts on supporting Canadian news literacy programs and connecting people to useful and relevant election-related information.”

Election is due in October in Canada.

Google will modify its ad policies and systems to block advertisers from running ads that fall under the purview of the definitions set out in Bill C-76.

Other Google services such as enhanced search results and platforms, including YouTube, will still be available during the campaign period.

This was first reported by the Globe and Mail.


Company: cnbc, Activity: cnbc, Date: 2019-03-05  Authors: carsten koall, getty images
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Google plans to ban political ads before Canada election

Alphabet Inc’s Google will ban political advertising on its platform before the Canadian federal election, after the country introduced stringent transparency rules. The Bill C-76, which was passed in December, requires online platforms to keep a registry of all political and partisan advertisements they directly or indirectly publish. “For the duration of the 2019 federal election campaign, Google will not accept advertising regulated by Bill C-76,” Colin McKay, Google Canada’s head of public p


Alphabet Inc’s Google will ban political advertising on its platform before the Canadian federal election, after the country introduced stringent transparency rules. The Bill C-76, which was passed in December, requires online platforms to keep a registry of all political and partisan advertisements they directly or indirectly publish. “For the duration of the 2019 federal election campaign, Google will not accept advertising regulated by Bill C-76,” Colin McKay, Google Canada’s head of public p
Google plans to ban political ads before Canada election Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-05  Authors: carsten koall, getty images
Keywords: news, cnbc, companies, canada, plans, ban, ads, bill, political, federal, canadian, election, google, c76, advertising, campaign, platforms


Google plans to ban political ads before Canada election

Alphabet Inc’s Google will ban political advertising on its platform before the Canadian federal election, after the country introduced stringent transparency rules.

The Bill C-76, which was passed in December, requires online platforms to keep a registry of all political and partisan advertisements they directly or indirectly publish.

“For the duration of the 2019 federal election campaign, Google will not accept advertising regulated by Bill C-76,” Colin McKay, Google Canada’s head of public policy, said in a statement.

“We’re focusing our efforts on supporting Canadian news literacy programs and connecting people to useful and relevant election-related information.”

Election is due in October in Canada.

Google will modify its ad policies and systems to block advertisers from running ads that fall under the purview of the definitions set out in Bill C-76.

Other Google services such as enhanced search results and platforms, including YouTube, will still be available during the campaign period.

This was first reported by the Globe and Mail.


Company: cnbc, Activity: cnbc, Date: 2019-03-05  Authors: carsten koall, getty images
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India prepares response to Trump’s trade salvo

President Donald Trump’s decision to end India’s preferential trade status comes at a politically sensitive moment for the emerging market nation which is struggling with two domestic challenges. “India has implemented a wide array of trade barriers that create serious negative effects on United States commerce. Ambassador Blake said the GSP announcement was not a big surprise for India given that trade tensions have been building over time. Under its GSP status, India in 2017 exported over $5.5


President Donald Trump’s decision to end India’s preferential trade status comes at a politically sensitive moment for the emerging market nation which is struggling with two domestic challenges. “India has implemented a wide array of trade barriers that create serious negative effects on United States commerce. Ambassador Blake said the GSP announcement was not a big surprise for India given that trade tensions have been building over time. Under its GSP status, India in 2017 exported over $5.5
India prepares response to Trump’s trade salvo Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-05  Authors: seema mody, parwaz khan, hindustan times, getty images
Keywords: news, cnbc, companies, prepares, india, indian, status, salvo, trumps, election, trade, tensions, response, indias, goods, experts, gsp


India prepares response to Trump's trade salvo

President Donald Trump’s decision to end India’s preferential trade status comes at a politically sensitive moment for the emerging market nation which is struggling with two domestic challenges.

First, is the upcoming election where it is unclear whether Prime Minister Narendra Modi will remain the leader of the world’s largest democracy. Modi’s Bharatiya Janata Party is fending off challenges from the opposition party known as Congress as well as rising regional parties.

“It is certainly not in India’s best interest to have a trade war less than two months before the general election,” said Ambassador Robert Blake, who currently leads McLarty Associates’ India and South Asia practice, to CNBC.

India is also consumed by its feud with neighbor Pakistan after a series of clashes in the past month. While tensions have de-escalated, experts on the ground tell CNBC the situation is still tense with elevated military presence at the Kashmiri border, increasing the potential of an unintended conflict between the two countries.

Despite the outsized focus on the looming election and tensions with Pakistan, Washington’s wager of an escalated trade dispute with India has not gone unnoticed by New Delhi.

The Indian Ministry of Commerce and Industry released a statement defending the U.S.-India relationship.

“Due to various initiatives resulting in enhanced purchase of U.S. goods like oil and natural gas and coal the U.S. trade deficit with India has substantially reduced in calendar years 2017 and 2018.”

While the United States carries its ninth largest trade deficit with India, the country is still seen as an important growth market for powerful U.S. companies like Apple, Netflix, Facebook, among others, especially as China’s economy slows down.

Over the past couple of months, mid-level U.S. and Indian officials have discussed ways to level the trade imbalance. But sources close to the Indian government say New Delhi was not willing to budge, pushing the U.S. to respond with the GSP (Generalized System Preferences) withdrawal.

“India has implemented a wide array of trade barriers that create serious negative effects on United States commerce. Despite intensive engagement, India has failed to take the necessary steps to meet the GSP criterion,” U.S. Trade Representative Robert Lighthizer said in a press release.

Ambassador Blake said the GSP announcement was not a big surprise for India given that trade tensions have been building over time.

Under its GSP status, India in 2017 exported over $5.5 billion of goods to the U.S. tariff free. But the Indian Ministry of Commerce expects the impact of losing this status to be limited, estimating a hit of around $190 million.

If tensions rise, experts believe India could respond by implementing retaliatory tariffs. Pravin Krishna, professor of international economics and business at Johns Hopkins University, says that would ultimately hurt the American consumer.

In the fall of 2018, India unveiled tariffs on $240 million of U.S. goods, but never put them into effect.

“India is not threatening retaliation immediately. But if they do, it will be the U.S. consumer that the added cost will be passed on to,” Krishna said. He said New Delhi will not be in any rush to retaliate given the focus on the national election which will take place between April and May.

But there are other ways India has made life a bit tougher for U.S. companies.

In February, New Delhi took aim at foreign e-commerce players by imposing new rules that challenge Walmart’s FlipKart and Amazon’s aggressive push into India. Indian analysts said the policies were put in place to protect small businesses, which make up a significant share of India’s retail industry and are politically important to Modi.

In a January earnings conference call with analysts, Amazon’s Chief Financial Officer Brian Olsavsky said, “There is much uncertainty as to what the impact of the [Indian] government rule change is going to have on the e-commerce sector there.”

Trump administration’s latest salvo also comes as it continues to rely on India for cooperation on counterterrorism and defense efforts. The U.S. touts its strategy in South Asia as the “Indo-Pacific Strategy.” That name is seen by foreign policy experts as recognition of Washington’s strategic alliance with India at a time when China is expanding its reach across the Asian region.


Company: cnbc, Activity: cnbc, Date: 2019-03-05  Authors: seema mody, parwaz khan, hindustan times, getty images
Keywords: news, cnbc, companies, prepares, india, indian, status, salvo, trumps, election, trade, tensions, response, indias, goods, experts, gsp


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Michael Cohen: ‘I fear’ Trump won’t peacefully give up the White House if he loses the 2020 election

President Donald Trump’s former lawyer Michael Cohen on Wednesday said he fears that Trump will not peacefully relinquish the White House if he loses his reelection bid next year. Cohen, 52, also castigated Trump at the finale of his congressional hearing for his ”childish” actions that he says denigrate the office of the president. “I fear that if he loses the election in 2020, that there will never be a peaceful transition of power. And this is why I agreed to appear before you today,” Cohen


President Donald Trump’s former lawyer Michael Cohen on Wednesday said he fears that Trump will not peacefully relinquish the White House if he loses his reelection bid next year. Cohen, 52, also castigated Trump at the finale of his congressional hearing for his ”childish” actions that he says denigrate the office of the president. “I fear that if he loses the election in 2020, that there will never be a peaceful transition of power. And this is why I agreed to appear before you today,” Cohen
Michael Cohen: ‘I fear’ Trump won’t peacefully give up the White House if he loses the 2020 election Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-27  Authors: kevin breuninger, dan mangan
Keywords: news, cnbc, companies, trump, trumps, cohens, closing, fear, wont, election, trumpthe, peacefully, cohen, white, yearcohen, loses, michael, house


Michael Cohen: 'I fear' Trump won't peacefully give up the White House if he loses the 2020 election

President Donald Trump’s former lawyer Michael Cohen on Wednesday said he fears that Trump will not peacefully relinquish the White House if he loses his reelection bid next year.

Cohen, 52, also castigated Trump at the finale of his congressional hearing for his ”childish” actions that he says denigrate the office of the president.

“I fear that if he loses the election in 2020, that there will never be a peaceful transition of power. And this is why I agreed to appear before you today,” Cohen said of Trump.

The White House did not immediately respond to CNBC’s request for comment on Cohen’s remarks.

Cohen’s closing speech came after more than seven hours in public testimony before the House Oversight Committee, where he launched a fusillade of accusations against his former boss’ character and actions.

Read Cohen’s full closing statement below:


Company: cnbc, Activity: cnbc, Date: 2019-02-27  Authors: kevin breuninger, dan mangan
Keywords: news, cnbc, companies, trump, trumps, cohens, closing, fear, wont, election, trumpthe, peacefully, cohen, white, yearcohen, loses, michael, house


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