US probes Chinese involvement in manufacturing projects receiving tax incentives

IANS | June 5, 2026 12:18 PM

Washington, June 5 (IANS) The Trump administration is investigating reports of continued Chinese involvement in US manufacturing projects receiving federal tax incentives, US Treasury Secretary Scott Bessent told lawmakers on Thursday, signalling heightened scrutiny of Beijing's role in sectors Washington considers strategically important.

China under fire in US Congress over fentanyl

IANS | June 5, 2026 11:50 AM

Washington, June 5 (IANS) A congressional hearing on Thursday sharply focused on China's role in the global fentanyl supply chain, with Republican lawmakers accusing Beijing of failing to curb the flow of precursor chemicals that fuel America's deadly opioid crisis, while witnesses called for stronger enforcement, sanctions and international cooperation.

US touts progress in reducing dependence on China

IANS | June 5, 2026 11:45 AM

Washington, June 5 (IANS) US Treasury Secretary Scott Bessent and senior Republican lawmakers on Thursday highlighted what they described as growing success in reducing US economic dependence on China, citing a shrinking trade deficit, expanding domestic manufacturing and new efforts to protect American industries from Chinese competition.

Iran war sparks sharp divide in US defence debate

IANS | June 5, 2026 11:39 AM

Washington, June 5 (IANS) A heated debate over the Trump administration's war in Iran dominated proceedings on Thursday as the US House Armed Services Committee considered the fiscal 2027 National Defense Authorization Act (NDAA), exposing deep divisions over the conflict's cost, strategy and impact on America's global priorities.

US Treasury Secretary Bessent says Iran conflict causing temporary price spike

IANS | June 5, 2026 11:04 AM

Washington, June 5 (IANS) US Treasury Secretary Scott Bessent on Thursday defended the Trump administration's handling of the economy amid mounting criticism over rising fuel and consumer prices, telling lawmakers that inflationary pressures linked to the conflict involving Iran were temporary and would ease once the situation stabilised.

'We're going to make a deal': Trump on India-US trade agreement

IANS | June 5, 2026 8:17 AM

Washington, June 5 (IANS) US President Donald Trump has said the United States and India are moving towards a trade agreement, while describing Prime Minister Narendra Modi as a “good friend” and signalling confidence that the two countries will reach a deal.