Iran's President Hassan Rouhani said US sanctions were "economic terrorism", as he sought to foster a united front from visiting regional officials on Saturday.&nbsp;

Addressing parliament speakers from Afghanistan, China, Pakistan, Russia and Turkey, Rouhani said they had all suffered economic pressure from the US.

"We are facing an all-out assault which is not only threatening our independence and identity but also is bent on breaking our longstanding ties," he said.

Washington has reimposed an oil embargo and other damaging sanctions on Iran since withdrawing in May from a landmark 2015 nuclear deal between Tehran and major powers.&nbsp;

"America's unjust and illegal sanctions against the honourable nation of Iran have targeted our nation in a clear instance of terrorism," Rouhani said.&nbsp;

"Economic terrorism is designed to create panic in the economy of a country and fear in other countries in order to prevent investment."

The conference in Tehran was a second annual meeting of parliament speakers focused on terrorism and regional cooperation. The first was held last December in Islamabad.

Most participating countries have faced harsh sanctions and other economic pressure as part of the Trump administration's use of trade as a diplomatic weapon.&nbsp;

A <a href="http://www.wionews.com/opinions/g20-summit-bring-a-truce-in-us-china-trade-relations-181105">brief truce</a>&nbsp;in Trump's trade war with China was again in doubt this week after the&nbsp;<a href="http://www.wionews.com/world/huaweis-meng-wanzhou-faces-us-fraud-charges-linked-to-iran-bail-hearing-continues-monday-182324">arrest of Chinese telecom giant Huawei's chief financial officer,</a> who was detained in Canada to face fraud charges in the US.&nbsp;

Washington has continued to pile fresh sanctions on Russia that began over its military intervention in Ukraine, while Turkey also faced penalties this year over the detention of an American pastor.&nbsp;

'We are all punished'&nbsp;

Trump has also cancelled hundreds of millions of dollars in aid to Pakistan, accusing it of failing to crack down on militancy.

"When they put pressure on China's trade, we are all harmed... By punishing Turkey, we are all punished. Any time they threaten Russia, we too consider our security to be endangered," Rouhani said.

"When they impose sanctions on Iran, they deprive all of us of the benefits of international trade, energy security and sustainable development. And in fact, they impose sanctions on everyone.

"We are here to say that we don't intend to tolerate such insolence."

Rouhani warned Europe which has strongly objected to the US withdrawal from the nuclear deal&nbsp;that much is at stake in its efforts to bypass US sanctions and maintain trade with Iran.

"They should know that by sanctioning Iran, they would harm our ability to fight drugs and terrorism," Rouhani said, referring to Iran's efforts to combat smuggling, particularly from Afghanistan.&nbsp;

The European Union is working on a payment system, known as the "special purpose vehicle", to keep money flowing into Iran, but has struggled to find a host since many countries fear repercussions from the Trump administration.&nbsp;

Iran's President Hassan Rouhani said US sanctions were "economic terrorism", as he sought to foster a united front from visiting regional officials on Saturday. Addressing parliament speakers from Afghanistan, China, Pakistan, Russia and Turkey, Rouhani said they had all suffered economic pressure from the US.

Iran's President Hassan Rouhani said US sanctions were "economic terrorism", as he sought to foster a united front from visiting regional officials on Saturday. Addressing parliament speakers from Afghanistan, China, Pakistan, Russia and Turkey, Rouhani said they had all suffered economic pressure from the US. "We are facing an all-out assault which is not only threatening our independence and identity but also is bent on breaking our longstanding ties," he said. Washington has reimposed an oil embargo and other damaging sanctions on Iran since withdrawing in May from a landmark 2015 nuclear deal between Tehran and major powers. "America's unjust and illegal sanctions against the honourable nation of Iran have targeted our nation in a clear instance of terrorism," Rouhani said. "Economic terrorism is designed to create panic in the economy of a country and fear in other countries in order to prevent investment." The conference in Tehran was a second annual meeting of parliament speakers focused on terrorism and regional cooperation. The first was held last December in Islamabad. Most participating countries have faced harsh sanctions and other economic pressure as part of the Trump administration's use of trade as a diplomatic weapon. A brief truce in Trump's trade war with China was again in doubt this week after the arrest of Chinese telecom giant Huawei's chief financial officer, who was detained in Canada to face fraud charges in the US. Washington has continued to pile fresh sanctions on Russia that began over its military intervention in Ukraine, while Turkey also faced penalties this year over the detention of an American pastor. 'We are all punished' Trump has also cancelled hundreds of millions of dollars in aid to Pakistan, accusing it of failing to crack down on militancy. "When they put pressure on China's trade, we are all harmed... By punishing Turkey, we are all punished. Any time they threaten Russia, we too consider our security to be endangered," Rouhani said. "When they impose sanctions on Iran, they deprive all of us of the benefits of international trade, energy security and sustainable development. And in fact, they impose sanctions on everyone. "We are here to say that we don't intend to tolerate such insolence." Rouhani warned Europe which has strongly objected to the US withdrawal from the nuclear deal that much is at stake in its efforts to bypass US sanctions and maintain trade with Iran. "They should know that by sanctioning Iran, they would harm our ability to fight drugs and terrorism," Rouhani said, referring to Iran's efforts to combat smuggling, particularly from Afghanistan. The European Union is working on a payment system, known as the "special purpose vehicle", to keep money flowing into Iran, but has struggled to find a host since many countries fear repercussions from the Trump administration.

Iran seeks regional front against US 'economic terrorism'

<a href="http://www.wionews.com/business-economy/asian-shares-soften-as-investors-look-to-g20-summit-180358">Asian shares</a> fell on Tuesday as a relief rally petered out amid rising doubts over whether China and the United States will be able to<a href="http://www.wionews.com/opinions/g20-summit-bring-a-truce-in-us-china-trade-relations-181105"> resolve trade differences</a>.

An inverted US&nbsp;yield curve also raised concerns about a possible recession.

MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.3 per cent as Chinese equity markets struggled to move out of negative territory.

Chinese blue-chip shares in Shenzhen and Shanghai were slightly weaker, and the benchmark Shanghai Composite index edged barely higher. Shares in Hong Kong lost 0.3 per cent.

Australia shares gave up 0.8 per cent and Seoul's Kospi fell 0.6 per cent, while Japan's Nikkei stock index was 1.3 per cent lower.

The temporary freeze on further hostilities in the trade war between the United States and China had sparked a global rally in equity markets on Monday, pushing MSCI's all-country world index up 1.3 per cent.

But even before the trading day ended, major U.S. indexes pulled back from intraday highs as investors pondered unresolved issues between the two countries.

Overnight, the Dow Jones Industrial Average closed 1.13 per cent higher, the S&amp;P 500 gained 1.09 per cent and the Nasdaq Composite added 1.51 per cent.

"Overall trade news overnight (has) probably left the market with more questions than answers, can the US and China really resolve their differences in 90 days?" National Australia Bank analysts said in a note to clients.

"It seems that more details and signs of progress will be needed if the initial trade truce warm fuzzy feeling is to be sustained."

Already, there was confusion over when the 90-day period would start. A White House official said it started on Dec. 1. Earlier, White House economic adviser Larry Kudlow told reporters it would start on Jan. 1.

Moreover, none of the commitments that U.S. officials said had been given by China, including reducing its 40 per cent tariffs on autos, were agreed to in writing and specifics had yet to be hammered out.

"The fear across global markets is that this is just a short-term relief rally and we will find ourselves back where we were a few weeks ago and staring down the barrel of a long-term global growth slow down," Nick Twidale, Sydney-based analyst at Rakuten Securities Australia said in a note.

"In the short term, it seems we may find investors once again back to trading sentiment fluctuations as news hits the markets piecemeal on trade agreement progress."

Adding to worries over the outlook for the global economy, the yield curve between U.S. three-year and five-year notes, and between two-year and five-year paper inverted on Monday - the first parts of the Treasury yield curve to invert since the financial crisis, excluding very short-dated debt.

Analysts expect an inversion of the two-year, 10-year yield curve - seen as a predictor of a U.S. recession - to follow suit.

On Tuesday, the yield on benchmark 10-year Treasury notes fell to 2.9407 per cent compared with its U.S. close of 2.991 per cent on Monday. The two-year yield also fell, but by a narrower margin, touching 2.8028 per cent compared with a U.S. close of 2.833 per cent.

That put the spread between 10-year and two-year Treasuries at less than 14 basis points, its flattest level since July 2007.

"The market pricing evident in the yield curve inversion from three to five segment of the curve, as well as the dip in the 10-year yield below 3 per cent yesterday, goes to reinforce these concerns" about the U.S. economy potentially heading into a recession, said Prakash Sakpal, an economist at ING in Singapore.

However, he added that solid U.S. manufacturing data released Monday pointed to a stronger economic outlook, with new orders a "key driver" in boosting activity.

In contrast to how Asian equity markets could not sustain Monday's rally, oil prices continued to rise after surging 4 per cent the day before on the U.S.-China trade truce, and ahead of a key OPEC meeting expected to lead to supply cuts.

U.S. crude was 1.2 per cent higher at $53.58 per barrel, and Brent crude futures gained 1.1 per cent to $62.35 a barrel.

In the currency market, the dollar index, which tracks the greenback against a basket of peers, softened 0.2 per cent to 96.808.

The dollar was 0.3 per cent weaker against the yen, at 113.28, and the euro gained 0.2 per cent to $1.1373.

As the dollar weakened, China's yuan continued to surge. Since Friday, it has added more than 1,000 pips against the greenback, reaching 6.8545 on Tuesday morning. At 0327 GMT, it was trading at 6.8613 to the dollar.

Federal Reserve Chairman Jerome Powell was scheduled to testify on Wednesday to a congressional Joint Economic Committee, but the hearing was postponed because of a national day of mourning for <a href="http://www.wionews.com/world/former-us-president-george-bush-dies-at-94-son-180616">U.S. President George H.W. Bush,</a> who died on Friday.

The dollar came under pressure last week on Powell's comments that rates were nearing neutral levels, which markets widely interpreted as signalling a slowdown in the Fed's rate-hike cycle.

Spot gold jumped on the weaker dollar, trading up 0.40 per cent at $1,235.88 per ounce.&nbsp;

Asian shares fell on Tuesday as a relief rally petered out amid rising doubts over whether China and the United States will be able to resolve trade differences.

Asian shares fell on Tuesday as a relief rally petered out amid rising doubts over whether China and the United States will be able to resolve trade differences. An inverted US yield curve also raised concerns about a possible recession. MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.3 per cent as Chinese equity markets struggled to move out of negative territory. Chinese blue-chip shares in Shenzhen and Shanghai were slightly weaker, and the benchmark Shanghai Composite index edged barely higher. Shares in Hong Kong lost 0.3 per cent. Australia shares gave up 0.8 per cent and Seoul's Kospi fell 0.6 per cent, while Japan's Nikkei stock index was 1.3 per cent lower. The temporary freeze on further hostilities in the trade war between the United States and China had sparked a global rally in equity markets on Monday, pushing MSCI's all-country world index up 1.3 per cent. But even before the trading day ended, major U.S. indexes pulled back from intraday highs as investors pondered unresolved issues between the two countries. Overnight, the Dow Jones Industrial Average closed 1.13 per cent higher, the S&P 500 gained 1.09 per cent and the Nasdaq Composite added 1.51 per cent. "Overall trade news overnight (has) probably left the market with more questions than answers, can the US and China really resolve their differences in 90 days?" National Australia Bank analysts said in a note to clients. "It seems that more details and signs of progress will be needed if the initial trade truce warm fuzzy feeling is to be sustained." Already, there was confusion over when the 90-day period would start. A White House official said it started on Dec. 1. Earlier, White House economic adviser Larry Kudlow told reporters it would start on Jan. 1. Moreover, none of the commitments that U.S. officials said had been given by China, including reducing its 40 per cent tariffs on autos, were agreed to in writing and specifics had yet to be hammered out. "The fear across global markets is that this is just a short-term relief rally and we will find ourselves back where we were a few weeks ago and staring down the barrel of a long-term global growth slow down," Nick Twidale, Sydney-based analyst at Rakuten Securities Australia said in a note. "In the short term, it seems we may find investors once again back to trading sentiment fluctuations as news hits the markets piecemeal on trade agreement progress." Adding to worries over the outlook for the global economy, the yield curve between U.S. three-year and five-year notes, and between two-year and five-year paper inverted on Monday - the first parts of the Treasury yield curve to invert since the financial crisis, excluding very short-dated debt. Analysts expect an inversion of the two-year, 10-year yield curve - seen as a predictor of a U.S. recession - to follow suit. On Tuesday, the yield on benchmark 10-year Treasury notes fell to 2.9407 per cent compared with its U.S. close of 2.991 per cent on Monday. The two-year yield also fell, but by a narrower margin, touching 2.8028 per cent compared with a U.S. close of 2.833 per cent. That put the spread between 10-year and two-year Treasuries at less than 14 basis points, its flattest level since July 2007. "The market pricing evident in the yield curve inversion from three to five segment of the curve, as well as the dip in the 10-year yield below 3 per cent yesterday, goes to reinforce these concerns" about the U.S. economy potentially heading into a recession, said Prakash Sakpal, an economist at ING in Singapore. However, he added that solid U.S. manufacturing data released Monday pointed to a stronger economic outlook, with new orders a "key driver" in boosting activity. In contrast to how Asian equity markets could not sustain Monday's rally, oil prices continued to rise after surging 4 per cent the day before on the U.S.-China trade truce, and ahead of a key OPEC meeting expected to lead to supply cuts. U.S. crude was 1.2 per cent higher at $53.58 per barrel, and Brent crude futures gained 1.1 per cent to $62.35 a barrel. In the currency market, the dollar index, which tracks the greenback against a basket of peers, softened 0.2 per cent to 96.808. The dollar was 0.3 per cent weaker against the yen, at 113.28, and the euro gained 0.2 per cent to $1.1373. As the dollar weakened, China's yuan continued to surge. Since Friday, it has added more than 1,000 pips against the greenback, reaching 6.8545 on Tuesday morning. At 0327 GMT, it was trading at 6.8613 to the dollar. Federal Reserve Chairman Jerome Powell was scheduled to testify on Wednesday to a congressional Joint Economic Committee, but the hearing was postponed because of a national day of mourning for U.S. President George H.W. Bush, who died on Friday. The dollar came under pressure last week on Powell's comments that rates were nearing neutral levels, which markets widely interpreted as signalling a slowdown in the Fed's rate-hike cycle. Spot gold jumped on the weaker dollar, trading up 0.40 per cent at $1,235.88 per ounce.

Global markets: Asia shares fall as lift from US-China trade truce ends

The G-20 meeting is over, and there's good news and bad news for the Dow Jones Industrial Average and other stock market indexes, according to a Dow Jones Newswires report on Sunday.

Here's the good news following a Saturday night dinner between President Donald Trump and Chinese President Xi Jinping in Buenos Aires: The United States said it won't impose 25 per cent tariffs on Chinese goods in January, as it had planned, and China agreed to buy more US agricultural goods.

It's essentially a cease-fire, for now, in the trade war between the world's two largest economies.

The bad news is that this deal opened a 90-day window to negotiate a deal not just on trade but also on protecting intellectual property, ending the forced transfer of technology, and more.

If those negotiations aren't successful, then it's tariff time.

It's unclear how the market will react to the news, given last week's massive rally.

The S&amp;P 500's 4.8 per cent rise - its biggest in about seven years - was, in part, a response to Federal Reserve Chairman Jerome Powell's dovish tone.

But it was also a bet on a deal being reached.

The market, however, is forward-looking, and so the question will become whether the typical sell-the-news reaction kicks in.

But one thing is clear - the stakes in the negotiations between the US and China are huge.

Paul Ashworth, chief US economist at Capital Economics, notes that if talks fail, tariffs would rise on the $200 billion of goods already on the receiving end, and would be imposed on the remaining $250 billion that are, so far, penalty-free.

"This is very much a temporary pause," he writes.

And a high-stakes one at that.

The G-20 meeting is over, and there's good news and bad news for the Dow Jones Industrial Average and other stock market indexes, according to a Dow Jones Newswires report on Sunday.

The G-20 meeting is over, and there's good news and bad news for the Dow Jones Industrial Average and other stock market indexes, according to a Dow Jones Newswires report on Sunday. Here's the good news following a Saturday night dinner between President Donald Trump and Chinese President Xi Jinping in Buenos Aires: The United States said it won't impose 25 per cent tariffs on Chinese goods in January, as it had planned, and China agreed to buy more US agricultural goods. It's essentially a cease-fire, for now, in the trade war between the world's two largest economies. The bad news is that this deal opened a 90-day window to negotiate a deal not just on trade but also on protecting intellectual property, ending the forced transfer of technology, and more. If those negotiations aren't successful, then it's tariff time. It's unclear how the market will react to the news, given last week's massive rally. The S&P 500's 4.8 per cent rise - its biggest in about seven years - was, in part, a response to Federal Reserve Chairman Jerome Powell's dovish tone. But it was also a bet on a deal being reached. The market, however, is forward-looking, and so the question will become whether the typical sell-the-news reaction kicks in. But one thing is clear - the stakes in the negotiations between the US and China are huge. Paul Ashworth, chief US economist at Capital Economics, notes that if talks fail, tariffs would rise on the $200 billion of goods already on the receiving end, and would be imposed on the remaining $250 billion that are, so far, penalty-free. "This is very much a temporary pause," he writes. And a high-stakes one at that.

Trump and China called a truce in the trade war. Now what?

<a href="http://www.wionews.com/world/us-says-it-is-suspending-new-china-tariffs-for-90-days-180809">US</a><a href="http://www.wionews.com/world/us-says-it-is-suspending-new-china-tariffs-for-90-days-180809"> says it is suspending new China tariffs for 90 days</a>

The United States said Saturday that it agreed in a long-awaited summit with China to suspend new tariffs for 90 days as the two powers seek to end a trade war.

The White House said a threatened increase of tariffs on $200 billion worth of Chinese goods from 10 to 25 percent, which was set to take effect on January 1, would be put off for 90 days.&nbsp;

"If at the end of this period of time, the parties are unable to reach an agreement, the 10 percent tariffs will be raised to 25 percent," a White House statement said after dinner talks between President Donald Trump and his counterpart Xi Jinping on the sidelines of a G20 summit in Buenos Aires.

 
<a href="http://www.wionews.com/world/war-will-continue-so-long-as-ukraine-government-stays-putin-180802">War will continue so long as Ukraine government stays: Putin</a>

Russian President Vladimir Putin said Saturday he saw no end to the conflict in eastern Ukraine "as long as the current authorities remain in power."

"The current Ukrainian authorities have no interest in resolving the conflict, especially by peaceful means," Putin told reporters at the end of the G20 summit in Argentina.

 
<a href="http://www.wionews.com/world/ukraine-russia-conflict-putin-explains-his-side-of-the-story-to-trump-180807">Putin briefs Trump on Ukraine-Russia conflict</a>

Russian President Vladimir Putin said Saturday he briefed his US counterpart Donald Trump on the Ukraine crisis as he came under pressure over Moscow's robust foreign policy at the G20 summit in Argentina.

Putin said he explained Moscow's position to Trump when the leaders met briefly at a summit dinner Friday.

"We spoke standing up. I replied to his questions about the incident in the Black Sea," Putin told reporters at the end of the summit.

 
<a href="http://www.wionews.com/india-news/at-g20-pm-talks-about-trade-wars-and-terror-180797">At G20, Modi says trade war can do collateral damage to emerging economies</a>

Day 2 of the G20 summit came to an end Saturday with Indian Prime Minister Narendra Modi focusing on the issue of terror and highlighting how trade wars can be detrimental to global economies.

Briefing the media, India's sherpa at the G20, Shaktikanta Das, said, "The PM highlighted escalating trade tension and the collateral damage it can do to emerging economies."

The big focus at this year's G20 has been the trade war between the world's two biggest economies, the US and China.

 
<a href="http://www.wionews.com/entertainment/spider-man-is-back-and-this-time-hes-black-and-latino-180806">Spider-Man is back. And this time he's black and Latino</a>

For what seems like the umpteenth time, Spider-Man is back on the big screen.&nbsp;

But this year, when Hollywood is under the microscope on the hot-button issue of diversity, the superhero is half-black and half-Latino.

Step aside, Peter Parker. There's a new Spidey in town. Hello, Miles Morales.

US says it is suspending new China tariffs for 90 days The United States said Saturday that it agreed in a long-awaited summit with China to suspend new tariffs for 90 days as the two powers seek to end a trade war.

US says it is suspending new China tariffs for 90 days The United States said Saturday that it agreed in a long-awaited summit with China to suspend new tariffs for 90 days as the two powers seek to end a trade war. The White House said a threatened increase of tariffs on $200 billion worth of Chinese goods from 10 to 25 percent, which was set to take effect on January 1, would be put off for 90 days. "If at the end of this period of time, the parties are unable to reach an agreement, the 10 percent tariffs will be raised to 25 percent," a White House statement said after dinner talks between President Donald Trump and his counterpart Xi Jinping on the sidelines of a G20 summit in Buenos Aires. War will continue so long as Ukraine government stays: Putin Russian President Vladimir Putin said Saturday he saw no end to the conflict in eastern Ukraine "as long as the current authorities remain in power." "The current Ukrainian authorities have no interest in resolving the conflict, especially by peaceful means," Putin told reporters at the end of the G20 summit in Argentina. Putin briefs Trump on Ukraine-Russia conflict Russian President Vladimir Putin said Saturday he briefed his US counterpart Donald Trump on the Ukraine crisis as he came under pressure over Moscow's robust foreign policy at the G20 summit in Argentina. Putin said he explained Moscow's position to Trump when the leaders met briefly at a summit dinner Friday. "We spoke standing up. I replied to his questions about the incident in the Black Sea," Putin told reporters at the end of the summit. At G20, Modi says trade war can do collateral damage to emerging economies Day 2 of the G20 summit came to an end Saturday with Indian Prime Minister Narendra Modi focusing on the issue of terror and highlighting how trade wars can be detrimental to global economies. Briefing the media, India's sherpa at the G20, Shaktikanta Das, said, "The PM highlighted escalating trade tension and the collateral damage it can do to emerging economies." The big focus at this year's G20 has been the trade war between the world's two biggest economies, the US and China. Spider-Man is back. And this time he's black and Latino For what seems like the umpteenth time, Spider-Man is back on the big screen. But this year, when Hollywood is under the microscope on the hot-button issue of diversity, the superhero is half-black and half-Latino. Step aside, Peter Parker. There's a new Spidey in town. Hello, Miles Morales.

News brief: Big stories of the day

China poses a long-term challenge to the United States across every front, including trade and intellectual property rights, Secretary of State Mike Pompeo has said.

The US will demand a fair and reciprocal trade from China and President Donald Trump is determined to achieve it, he said.

"China is a long-term challenge. This challenge is across every front," Pompeo told American radio host Tony Katz on Thursday.

Stating that the US President has begun taking on the challenge of unfair trade, Pompeo said that America had very unfair trade with China and have had many administrations.

He said that the US has other sets of challenges, including China's continued efforts in the South China Sea.

Pompeo also informed of the Chinese being indicted for stealing intellectual property.

"Just this week, ten Chinese were indicted for stealing intellectual property, aviation-related intellectual property," he said.

"These are not the types of actions that countries that truly want to be part of the global community engage in, and we're pushing back against China across every one of those fronts to try and achieve that on behalf of the American people," Pompeo said.

Pompeo said that Russia also poses a challenge due to its large nuclear arsenal that threatens the entire world.

"Russia is a much smaller economy, but still maintains an enormously large nuclear arsenal, which threatens not only the United States but the world. President Trump has been really tough. We have done things to put pressure on Vladimir Putin and Russia in a way that no previous administration has," he said.

China poses a long-term challenge to the United States across every front, including trade and intellectual property rights, Secretary of State Mike Pompeo has said.

China poses a long-term challenge to the United States across every front, including trade and intellectual property rights, Secretary of State Mike Pompeo has said. The US will demand a fair and reciprocal trade from China and President Donald Trump is determined to achieve it, he said. "China is a long-term challenge. This challenge is across every front," Pompeo told American radio host Tony Katz on Thursday. Stating that the US President has begun taking on the challenge of unfair trade, Pompeo said that America had very unfair trade with China and have had many administrations. He said that the US has other sets of challenges, including China's continued efforts in the South China Sea. Pompeo also informed of the Chinese being indicted for stealing intellectual property. "Just this week, ten Chinese were indicted for stealing intellectual property, aviation-related intellectual property," he said. "These are not the types of actions that countries that truly want to be part of the global community engage in, and we're pushing back against China across every one of those fronts to try and achieve that on behalf of the American people," Pompeo said. Pompeo said that Russia also poses a challenge due to its large nuclear arsenal that threatens the entire world. "Russia is a much smaller economy, but still maintains an enormously large nuclear arsenal, which threatens not only the United States but the world. President Trump has been really tough. We have done things to put pressure on Vladimir Putin and Russia in a way that no previous administration has," he said.

China a long-term challenge across every front: Pompeo

The global economic recovery could be hit if the trade war between the US and China escalate, renowned economist and former Reserve Bank of India Governor Raghuram Rajan said today. 
 
&quot;There are very worrisome scenarios here. I think we should not take this lightly,&quot; he said here. 
 
&quot;I do hope that better sense sort of prevails and we move off from a full-fledged process of one country doing it and the other country reacting and so on,&quot; he said. 
 
Raghuram Rajan, Professor, Finance, University of Chicago, Booth School of Business, advised that one should stay away from trade war particularly at a time when the economy the world over was in the process of recovery. 
 
&quot;I don&#39;t want to use the word trade war. I don&#39;t think they are there yet. But I do think that it is very important that we stay away because it could harm the current recovery which has been beneficial all over the world significantly. 
 
&quot;And for it to do that at a time when the US is quite strong and has got full employment is going quite reasonably, it seems to me that this is not the time that we should do it,&quot; the former RBI governor told reporters in response to a question related to trade war. 
 
He was here to address the two-day Global Digital Summit (#Future) organised by the Kerala government.

Raghuram Rajan advised that one should stay away from trade war particularly at a time when the economy the world over was in the process of recovery

The global economic recovery could be hit if the trade war between the US and China escalate, renowned economist and former Reserve Bank of India Governor Raghuram Rajan said today. "There are very worrisome scenarios here. I think we should not take this lightly," he said here. "I do hope that better sense sort of prevails and we move off from a full-fledged process of one country doing it and the other country reacting and so on," he said. Raghuram Rajan, Professor, Finance, University of Chicago, Booth School of Business, advised that one should stay away from trade war particularly at a time when the economy the world over was in the process of recovery. "I don't want to use the word trade war. I don't think they are there yet. But I do think that it is very important that we stay away because it could harm the current recovery which has been beneficial all over the world significantly. "And for it to do that at a time when the US is quite strong and has got full employment is going quite reasonably, it seems to me that this is not the time that we should do it," the former RBI governor told reporters in response to a question related to trade war. He was here to address the two-day Global Digital Summit (#Future) organised by the Kerala government.

Economic recovery could be hit if US-China trade war escalates: Raghuram Rajan