China vows targeted support as US tariff pressure mounts
China’s top leadership has pledged support for firms and workers affected by steep US tariffs, state media reported following a Politburo meeting. Measures include financial aid, expanded unemployment insurance access, and job stabilization efforts, according to Xinhua.
The government also intends to ease monetary policy by reducing interest rates and reserve requirements on a timely basis. Other approaches include encouraging local demand, particularly in services, and integrating domestic and international trade.
Despite 5.4 percent GDP growth in Q1, the Politburo warned of rising external risks and urged worst-case scenario planning to ensure economic stability, Xinhua reported.
Meanwhile, US President Trump and Treasury Secretary Scott Bessent have adopted a more conciliatory tone, signaling a potential de-escalation in trade tensions.
Spread awareness about quake safety, says President Paudel
President Ram Chandra Paudel has stressed for spreading public awareness about earthquake safety measures.
In a message today on the 10th Memorial Day of the Gorkha Earthquake, the President said that the risks of earthquakes have accelerated every year due to an increasing trend of urbanization.
The possible risks of earthquakes could be lowered though it could not be prevented, according to the President.
Likewise, the President has mentioned that Nepal's topography and human-made physical infrastructures were the key reasons behind the risks of earthquakes in the country.
President Paudel has drawn attention of all stakeholders for massive awareness dissemination on safety measures as well as the effective tools for quake risk reduction among the general public.
In his message, President Paudel has expressed heartfelt condolences to all sisters and brothers who lost their lives in the Gorkha Earthquake on April 25, 2015 and the subsequent tremors.
Similarly, the President has thanked all involved directly and indirectly in the reconstruction of quake-hit physical properties and the resettlement of the affected communities.
Budget session of Federal Parliament begins today
The budget session of the Federal Parliament is beginning today.
President Ram Chandra Paudel had summoned the meeting at the recommendation of the Council of Ministers. The meeting will be held at 1 pm today.
As per the business schedule released by the Federal Parliament Secretariat, the Speaker of House of Representatives (HoR), Devraj Ghimire, would inform the House about the budget session summoned by the President and the reshuffle in the cabinet.
Finance Minister Bishnu Prasad Paudel is scheduled to table a proposal on Principle and Priorities of Appropriation Bill for discussions.
Leaders of different political parties would be given time on the basis of their parties for deliberations on the first day today.
Likewise, the Prime Minister KP Sharma Oli's personal secretariat shared that the UML's parliamentary party leader and PM Oli would address the House today.
Government's policy and programs, and annual budget for the upcoming fiscal year would be tabled in this session of the Federal Parliament.
China urges US to lift tariffs amid ongoing trade tensions
China has urged the United States to lift its extensive tariffs on Chinese goods as a sign of President Trump's commitment to settling the current trade war, BBC reported.
A Chinese official confirmed that no trade conversations had taken place, contradicting allegations by the Trump administration to the contrary.
As stated by BBC, the trade war continues to escalate, with China recently returning US-made Boeing aircraft in response to American tariffs.However, President Trump signaled a potential shift in tone, indicating that the imposed tariffs could be significantly reduced, though not eliminated entirely.
