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Washington, Feb 20 (IANS) The United States bought less steel from the world in 2025 — but significantly more from India.

New figures released on Thursday show that overall US steel imports fell 12.6 per cent last year, even as shipments from India surged by more than 118 per cent, reflecting a notable shift in sourcing patterns.

The American Iron and Steel Institute (AISI), citing final Census Bureau data, said the US imported a total of 1,577,000 net tonnes of steel in December 2025, including 1,160,000 net tonnes of finished steel. Compared with November, total imports were down 3.8 per cent, while finished steel imports were up 6.9 per cent.

For the full year, the decline was sharper. Total steel imports in 2025 stood at 25,241,000 net tonnes, down 12.6 per cent from 2024. Finished steel imports totalled 18,665,000 net tonnes, down 17.1 per cent year-on-year. The finished steel import market share was estimated at 14 per cent in December and 18 per cent for the full year.

India’s performance stood out in an otherwise subdued year. The US imported 553,000 net tonnes of steel from India in 2025, up 118.3 per cent compared with 2024. In December alone, India shipped 42,000 net tonnes, down 10.1 per cent from November.

Canada remained the largest overall supplier to the US in 2025 at 4,524,000 net tonnes, though this marked a 31 per cent decline from 2024. Brazil followed with 4,126,000 net tonnes, down 8 per cent. Mexico supplied 2,823,000 net tonnes, down 19.7 per cent, and South Korea 2,662,000 net tonnes, down 5.3 per cent. Germany shipped 1,128,000 net tonnes, up 5 per cent.

In December, Brazil was the top supplier at 257,000 net tonnes, up 4.1 per cent from November. Canada supplied 234,000 net tonnes, down 9 per cent. South Korea shipped 167,000 net tonnes, up 1.3 per cent, while Mexico sent 137,000 net tonnes, down 17.4 per cent. Japan recorded 109,000 net tonnes, up 52.6 per cent month-on-month.

Some product categories saw sharp month-on-month rises in December. Imports of reinforcing bars jumped 135 per cent. Cut lengths of plates rose 68 per cent. Plates in coils increased 44.6 per cent. Hot-rolled bars were up 38.9 per cent, and heavy structural shapes rose 37.3 per cent.

On an annual basis, tin plate imports increased 24.3 per cent in 2025 compared with 2024. Line pipe rose 18.5 per cent, wire rods 13.2 per cent and oil country goods 12.6 per cent.

Steel remains central to infrastructure, automobiles, energy systems, and construction. In recent years, US imports have been closely monitored amid trade measures and supply chain debates. For India, the sharp rise in shipments to the US underscores its growing footprint in the market.

--IANS

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Washington, Feb 20 (IANS) President Donald Trump declined to outline any potential US military strategy on Taiwan or Iran, while setting what he described as a short deadline for Tehran and weighing in on fresh controversy surrounding Britain’s royal family.

Speaking to reporters aboard Air Force One, on his way to Georgia on Thursday, Trump criticised a political rival’s response to a question on Taiwan, saying: “You don't talk about military strategy, you could have taken an easy pass on that one.”

He added, “I wouldn't respond to a question like that, that's war. When it comes to war, you don't talk about your strategy.”

Trump said the answer in question “was not a good one” and warned it “could be death defying because I suspect that'll be used in every campaign for the next 30 years against her.”

Turning to Iran, Trump signalled a narrow window for diplomacy but refused to discuss operational details.

“We're either going to get a deal, or it's going to be unfortunate for them,” he said.

Pressed on a possible deadline, he replied: “I would think that would be enough time, ten, 15 days, pretty much maximum.”

Asked whether the goal of any US military strike would be to eliminate Iran’s nuclear programme, Trump said: “I'm not going to talk to you about that.”

On reports concerning former Prince Andrew in connection with Jeffrey Epstein, Trump said he viewed the developments as damaging to Britain’s monarchy.

“I think it's a shame. I think it's very sad. I think it's so bad for the royal family,” he said. “It's a very sad thing when I see that it's a very sad thing to see it.”

He praised King Charles, saying: “He's a fantastic man, the king.”

Trump again referenced his own legal position, stating: “I've been totally exonerated. I did nothing.”

He also defended his record, claiming Epstein “was against me. He was fighting me in the election, which I just found out about the last 3 million pages of documents.”

On his proposed “Board of Peace”, Trump said participation was expanding.

“We have a lot that are on, and we have a lot that are going through the process of getting on,” he said, noting that some countries “have to get legislative approval.”

He added: “I would love to have China and Russia; they've been invited. Yeah. So you need both, you need all persuasions.”

Asked about remarks by former President Barack Obama regarding aliens, Trump said: “Well, he gave classified information. He's not supposed to be doing that.”

He added: “I don't know if they're real or not. … I never talk about it.”

The exchange came as Trump faces multiple foreign policy tests, including tensions over Taiwan and Iran’s nuclear programme.

--IANS

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Washington, Feb 20 (IANS) World Bank President Ajay Banga announced the creation of a dedicated Gaza Reconstruction and Development Fund to manage international contributions for rebuilding the war-ravaged territory, saying the institution would act as a “limited trustee” under the direction of the newly formed Board of Peace.

Speaking at the inaugural meeting of the Board of Peace in Washington on Thursday, Banga said that once the UN Security Council resolution was passed, the World Bank “set about creating the Gaza Reconstruction and Development Fund at the World Bank.”

“It’s housed there. The World Bank’s role is that of a limited trustee,” he said. “We manage the donor contributions coming in… and under the direction of the Board of Peace, we disperse the money for reconstruction and development projects in Gaza.”

The fund, he said, is “ready to receive the donations” pledged by participating countries.

Banga emphasised that financial transparency would be central to the mechanism. “You as donors deserve the right to know that the money is being used in a transparent way,” he said, adding that financial, legal, and oversight standards would be put in place.

To reinforce accountability, he said the World Bank has “assigned a financial controller… on a secondment basis to the Board of Peace to ensure that we can try and help build the best standards in this process.”

Beyond managing funds, Banga outlined three broader roles the World Bank Group could play in supporting Gaza’s reconstruction.

“The first is leveraging of public finance,” he said, noting that the Bank’s AAA credit rating allows it “to leverage private bond money to help to create the resources we need.”

“The second is we can de-risk private investing,” he added, signalling that the Bank could provide guarantees or financial instruments to attract private capital.

“And the third is we have people on the ground and expertise and knowledge of doing this kind of work in other markets.”

Banga stressed that the Bank does not intend to be a passive participant. “We want to be not an arm’s length critical process, but an active participant in giving Gazan people and people in the region the opportunity of the lives they deserve.”

The reconstruction plan presented at the meeting envisages large-scale rebuilding of housing, infrastructure, and public services, alongside the creation of a new Palestinian administrative authority in Gaza. Several countries pledged billions of dollars in support, with the United States committing $10 billion.

The World Bank’s involvement places a major multilateral financial institution at the centre of the post-war Gaza recovery effort, marking one of the most structured international funding frameworks proposed for the territory in recent years.

--IANS

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Washington, Feb 19 (IANS) An International Monetary Fund (IMF) staff team will travel to Islamabad from February 25 to hold discussions on Pakistan’s economic reform programme under its Extended Fund Facility (EFF), the Fund said on Thursday.​

“We do have a staff team that is expected to visit Pakistan starting February 25th for discussions on the third review under the EFF and the second review under the RSF,” IMF Communications Director Julie Kozack told reporters at a news conference here.​

The discussions will focus on the third review under the EFF and the second review under the Resilience and Sustainability Facility (RSF), both of which are linked to policy benchmarks and reform commitments, she said.​

Kozack said the programme had helped stabilise Pakistan’s economy. “Pakistan’s policy efforts under the EFF have helped stabilize the economy and rebuild confidence.”​

She pointed to improvements in key macroeconomic indicators. “First fiscal performance has been strong. Pakistan currently has a primary fiscal surplus of 1.3% of GDP in FY 25, which was in line with program targets.”​

On inflation and the external account, she added: “Headline inflation has been relatively contained, and Pakistan posted its first current account surplus in 14 years in FY 2025.”​

The IMF also referred to governance reforms. The government governance and corruption diagnostic assessment report was recently published. And it includes proposals for reforms, including simplifying tax policy design, leveling the playing field for public procurement, and improving the asset declaration transparency.”​

The IMF staff visit is expected to assess progress on fiscal consolidation, inflation management, external stability, and structural reforms under the programme framework.​

Pakistan has faced recurring balance-of-payments pressures and elevated inflation in recent years, prompting reliance on IMF-supported programmes to restore macroeconomic stability. ​

The Extended Fund Facility provides longer-term financial assistance tied to structural reforms, while periodic reviews determine disbursements based on performance against agreed targets.

--IANS

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Washington, Feb 19 (IANS) Sajeeb Wazed, the son of Bangladesh’s ousted Prime Minister Sheikh Hasina, has questioned the legality of an ordinance used by the interim government to ban the Awami League, saying the country’s new BNP-led administration faces a 30-day constitutional deadline to decide its fate.​

In a statement, Wazed said the interim government amended the Anti-Terrorism Act, 2009, through a new ordinance to grant itself the authority to prohibit a political party's activities. It subsequently issued S.R.O. 137Ain/2025 based on that power.​

“To impose a ban on Awami League, the Interim Govt had to pass a new Ordinance amending the Anti-Terrorism 2009 to arrogate the power of banning activities of a political party and then published S.R.O. 137Ain/2025 based on the new power,” he said.​

Wazed cited Article 93(2) of Bangladesh’s Constitution, which requires that any such ordinance be placed before Parliament at its first sitting after a new government takes office.​

“The Ordinance shall cease to have effect at the expiration of thirty days after it is so laid unless a validating Act is passed within that period,” he said.​

He said that within this 30-day constitutional window, the BNP-led government may either allow the ordinance to lapse or approve it through legislation, thereby incorporating both the amendment and the S.R.O.-based powers into the permanent text of the Anti-Terrorism Act, 2009.​

If Parliament approves the amendment in its existing form, Wazed said, “the Ordinance and all executive measures that depend on it—including the proscription of the Awami League as an ‘entity’ and the derivative Election Commission deregistration, would be unconstitutional and shall be subject to judicial review.”​

He argued that parliamentary endorsement would signal support for what he described as an extraordinary use of anti-terrorism legislation.​

“Should the BNP government secure parliamentary approval of the amendment in its existing form, this would signify an intention to endorse and continue the interim administration’s abuse of anti-terrorism law as a basis for banning political parties and undermining democracy, thereby normalising an extraordinary proscription regime and entrenching the exclusion of the Bangladesh Awami League from the political and electoral process,” he said.

​Conversely, he said a decision not to validate the ordinance would mark a departure from the interim administration’s approach.​

“Conversely, if the BNP Govt. does not take steps to endorse the Ordinance, this would indicate a positive stance on their part to distance them from the hostile interim government’s approach, to restore a narrower, rights-compatible anti-terrorism framework. To reopen space for pluralistic party competition and inclusive democracy, BNP must not allow endorsement of the Ordinance by the new Parliament and let it lapse after 30 days of the first sitting of Parliament.”​

Bangladesh’s Anti-Terrorism Act, 2009, was enacted to address militancy and extremist violence. The Awami League and the Bangladesh Nationalist Party (BNP) have been the country’s two dominant political forces since the restoration of parliamentary democracy in the early 1990s, making any move to ban a major party legally and politically consequential.

--IANS

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Washington, Feb 19 (IANS) President Donald Trump on Thursday launched what he called the “,” a new forum of world leaders meeting at the U.S. Institute of Peace, and announced a $10 billion U.S. contribution tied to postwar stabilisation and relief efforts in Gaza.

“What we’re doing is a very simple piece. It’s called the Board of Peace, and it’s all about an easy word to say, but a hard word to produce — peace, but we’re going to produce it,” Trump said as he opened the inaugural session alongside Vice President JD Vance, Secretary of State Marco Rubio, special envoy Steve Witkoff, and board member Jared Kushner.

Trump said leaders from other countries were following the meeting remotely. “And the ones that aren’t here are watching on Zoom,” he said. He described the board as “the most prestigious board ever put together” and said it would work “to ensure a brighter future for the people of Gaza, the Middle East, and the entire world.”

Representatives from over 40 countries, including several heads of state such as Pakistani Prime Minister Shehbaz Sharif, attended the inaugural meeting. India was represented by Namgya Khampa, Deputy Indian Ambassador to the US.

Trump declared, “The war in Gaza is over. It’s over,” while warning that “the world is now waiting on Hamas.” He said Hamas was expected to give up its weapons. “Hamas has been — I think they’re going to give up their weapons, which is what they promised. If they don’t, it will be — you know, they’ll be harshly met, very harshly met,” he warned.

He said the ceasefire that began last October had held and claimed all remaining hostages had been returned.

“The ceasefire was held and every last remaining hostage, both living and dead, has been returned home,” Trump said. “They brought the last — last one home a week ago. And we got all 28 of them, living and dead.”

Trump announced contributions from a group of countries and described the totals as an early start for the new effort. “I’m pleased to announce that Kazakhstan, Azerbaijan, UAE, Morocco, Bahrain, Qatar, Saudi Arabia, Uzbekistan, and Kuwait have all contributed more than $7 billion toward the relief package,” he said.

He added that the U.N. Office for Coordination of Humanitarian Assistance “is raising $2 billion for the support of Gaza,” and that FIFA would raise “a total of $75 million for projects in Gaza.”

The largest pledge, he said, would come from the United States.

“The United States is going to make a contribution of $10 billion to the Board of Peace,” Trump said, calling it “a very small number when you look at that compared to the cost of war.”

Trump also said some countries were committing personnel to help preserve the ceasefire. “Albania, Kosovo, Kazakhstan have all committed troops and police to stabilize Gaza,” he said, adding that “Egypt and Jordan are likewise providing very, very substantial help, troops, training and support, for a very trustworthy Palestinian police force.”

In wide-ranging remarks, Trump credited his team — including Rubio, Witkoff, and Kushner — for diplomacy he said had helped end multiple conflicts.

He also brought up India and Pakistan, saying, “Planes were being shot down,” and describing how he pressed both sides to de-escalate. “I said, listen, I’m not doing trade deals with you two guys if you don’t settle this up,” he said. “But I said if you fight, I’m going to put 200 percent tariffs on each of your countries,” adding that they were “two nuclear nations.”

The latest phase of the Gaza conflict began after the Oct. 7, 2023, Hamas-led attack on Israel, which killed about 1,200 people and led to more than 200 hostages being taken. Israel’s ensuing military campaign in Gaza has killed tens of thousands of Palestinians, according to Gaza health authorities, and triggered a humanitarian crisis.

--IANS

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Washington, Feb 19 (IANS) Backing the government’s budget strategy, the International Monetary Fund (IMF) on Thursday urged India to stay focused on a medium-term fiscal consolidation path, and called for continued efforts to rebuild fiscal buffers.

“We’re encouraging them to continue to focus on a medium-term fiscal consolidation path,” IMF Communications Director Julie Kozack told reporters at a news conference here.

This would “enable India to rebuild fiscal buffers and ensure that resources which right now are kind of a bit tied up on debt servicing that they can then re be reallocated for other priority spending over time in India,” she said in response to a question.

The Fund welcomed the Union Budget’s direction, particularly its attempt to balance consolidation with public investment. “We welcome the budget’s continued focus on gradual fiscal consolidation while maintaining critical capital expenditure in India. Both the central government and states,” Kozack said.

Her remarks reflect the IMF’s view that sustained fiscal discipline, alongside capital expenditure, is essential to preserve macroeconomic stability and support long-term growth.

Kozack also highlighted India’s strong economic performance, describing it as “a key engine for global growth.”

She said: “The economy has performed well. We’ve upgraded our growth projection in the January World Economic Outlook. Real GDP growth for fiscal year 25--26 is projected at 7.3%. And that’s significantly higher than what we had projected earlier, earlier on. So it was a significant upgrade for India.”

The upward revision in the IMF’s latest World Economic Outlook underscores India’s position among the fastest-growing major economies, even as global growth remains uneven.

Beyond fiscal and growth indicators, Kozack referred to India’s role in emerging technologies. “Of course, our managing director is delighted to be participating in the AI summit. She delivered remarks at the summit earlier today,” she said.

She added that the IMF chief was “very much looking forward to the AI summit to engage with entrepreneurs, the tech industry, and the Indian authorities to really hear from them on India’s great progress and promise in the field of AI.”

India has consistently remained one of the world’s fastest-growing large economies, even amid tighter global financial conditions and geopolitical uncertainty. The IMF has repeatedly emphasised the importance of fiscal prudence, structural reforms, and sustained investment in infrastructure and technology to maintain resilience.

The Fund’s latest assessment reinforces a calibrated message: preserve growth momentum while steadily reducing fiscal vulnerabilities to create room for future priority spending.

--IANS

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Washington, Feb 19 (IANS) A bipartisan group of senior U.S. lawmakers has urged Taiwan’s leadership to significantly increase defence spending, warning that partial funding of a supplementary defence budget could weaken efforts to deter PRC “aggression”.​

U.S. Senators Jim Risch, chairman of the Senate Foreign Relations Committee, Pete Ricketts, and Chris Coons, along with Representatives Young Kim and Ami Bera, led a bipartisan, bicameral letter to the leadership of Taiwan’s Legislative Yuan. The letter was signed by 37 members of the U.S. Senate and House of Representatives.​

Addressed to Speaker Han Kuo-yu, Chair Cheng Li-wun, Chair Huang Kuo-chang, and Caucus Whip Ker Chien-ming, the lawmakers expressed “our concerns with ongoing deliberations in the Legislative Yuan to only partially fund a supplementary budget request to enhance Taiwan’s defensive capabilities”.​

“The United States shares a strong and enduring partnership with the people of Taiwan,” the letter said. It described the relationship as “built upon shared democratic values, close economic ties, and a mutual dedication to Indo-Pacific peace and stability.”​

Referring to the Taiwan Relations Act, the lawmakers noted that the United States has remained committed to Taiwan’s security and its ability to defend itself against coercion, citing sustained security cooperation, including expanded training, enhanced interoperability, and arms sales.​

However, the letter warned that the threat posed by the People’s Republic of China (PRC) against Taiwan has never been greater.​

“Xi Jinping is focusing every element of the PRC’s national power to control Taiwan. Xi hopes to achieve this through illegal, coercive, aggressive, and deceptive actions that undermine Taiwan’s will to resist,” it said.

​The lawmakers cited actions including regularly operating inside Taiwan’s Air Defence Identification Zone, increasing incursions across the median line, harassing fishing vessels, and cutting undersea cables. They also referred to “large-scale People’s Liberation Army exercises in October 2024, April 2025, and December 2025,” which they said “demonstrated its growing preparations for a blockade or invasion”.

​“In response to this worsening threat environment, both the United States and Taiwan must do more to deter PRC aggression,” the letter stated.​

“For our part, the U.S. must address the massive backlog in weapons deliveries to Taiwan. You have our commitment to continue to work together to ensure Taiwan gets the capabilities it needs, faster. Likewise, we need Taiwan to step up with us.”​

While commending Taiwan for making important progress in strengthening its military readiness, reserve forces, and asymmetric defence capabilities, the lawmakers cautioned that “without significant increases in Taiwan’s defence spending at levels reflected in President Lai’s proposed special budget, this progress will be insufficient.​

They acknowledged the complexities of government funding debates, noting that “Legislators must represent the will of our constituents and ensure that taxpayer dollars are spent effectively.” At the same time, they added, “We also have the responsibility to fund our militaries at levels that address the critical threats we face.”​

“As such, we hope you will support a robust, multi-year special defence budget, as well as annual funding at levels that adequately meet the moment and send a clear signal of Taiwan’s will to defend itself,” the letter said.​

The appeal comes amid heightened tensions across the Taiwan Strait and rising concern in Washington over China’s military modernisation and pressure tactics against Taipei.

--IANS

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Washington, Feb 19 (IANS) US President Donald Trump has congratulated Bangladesh's newly elected Prime Minister Tarique Rahman on his “historic election” and urged progress on bilateral trade and defence agreements, stating that Washington aims to maintain momentum in its strategic relationship with Dhaka.

In a letter dated February 18, 2026, Trump congratulated Rahman on his electoral victory and wished him success in his tenure as Prime Minister of the People’s Republic of Bangladesh.

The letter, confirmed by the White House and released by Bangladesh’s Ministry of Foreign Affairs, highlighted Washington’s strategic focus on strengthening ties in the Indo-Pacific region and signalled expectations of enhanced economic and defence cooperation between the two countries.

“The partnership between our countries is based on mutual respect and a shared interest in fostering a free and open Indo-Pacific where strong, sovereign nations can prosper,” Trump said in the letter.

He emphasised the importance of expanding trade relations and called for continued implementation of bilateral trade arrangements. “As you begin your term, I hope you will help me maintain the tremendous momentum in our trade relationship through the implementation of our Agreement on Reciprocal Trade, which benefits farmers and workers in both of our countries,” Trump wrote.

Trump also underscored the importance of defence cooperation and urged progress in finalising pending defence agreements between the two nations.

“I also hope you will take decisive action to complete the routine defence agreements that would finally give your military access to high-end, American-made equipment – the best in the world!” he stated.

The letter reflected Washington’s intent to strengthen diplomatic engagement and deepen bilateral cooperation across strategic sectors.

“I look forward to working with you to make the relationship between the United States and Bangladesh stronger than ever before,” Trump said.

He also expressed confidence in the role of the US Ambassador to Bangladesh. “My Ambassador to Bangladesh, Brent Christensen, has my full confidence. Together, we have an opportunity to make both of our nations more prosperous and secure,” he added.

The message concluded on a cordial note, with Trump extending his best wishes to the Bangladeshi leader. “Good luck to you in the days ahead!” the letter stated.

--IANS

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Kathmandu, Feb 19 (IANS) As Nepal heads toward the March 5 General Elections, the country’s three major political forces — the Nepali Congress (NC), Communist Party of Nepal–Unified Marxist Leninist (CPN-UML), and the Rastriya Swatantra Party (RSP) — on Thursday unveiled distinct yet overlapping foreign policy agendas, placing strong emphasis on friendly relations with neighbouring countries.

While the foreign policies of the traditional political parties — NC and UML — are well known based on their past governance experience, the foreign policy priorities of the RSP, which aspires to lead the next government, were keenly awaited. The party has named former Kathmandu Metropolitan City Mayor Balen Shah as its Prime Ministerial candidate.

In the election manifesto released on Thursday, the RSP said it would adopt a policy of “balanced and dynamic diplomacy”, pledging to reposition Nepal from a “buffer state” into a “vibrant bridge” by promoting trilateral economic partnerships and enhanced regional connectivity, particularly with neighbouring giants India and China.

Acknowledging the strategic interests of India and China in Nepal, as well as shifts in the global balance of power, the party emphasised that Nepal must adopt a proactive and flexible diplomatic posture to benefit from evolving geopolitics and the rise of neighbouring economies.

Pointing out several areas where India has made notable progress over the past decade, including digital public infrastructure, rapid development of high-quality physical infrastructure, formalisation of the economy, industrial–service sector coordination, and enhanced state capacity, the RSP said Nepal could also benefit from the southern neighbour’s development experience.

Similarly, the party highlighted the importance of forging stronger partnerships with China in the areas of mobilising concessional financing for world-class infrastructure projects, state-directed development planning, and learning from China’s exemplary models of inter-provincial competition to accelerate Nepal’s socio-economic transformation.

In its manifesto, the NC said that under its foreign policy, Nepal would not be part of any form of defence, military, or security conflicts, nor would it take part in strategic competition among major powers amid intensifying global rivalry. The party reaffirmed its long-standing principle of maintaining friendship with all nations on the basis of equality, stating that Nepal’s national interest would always remain paramount.

“Our relations with neighboring and friendly countries will be based on equality and mutual respect, and will be advanced based on mutual benefit and economic partnership,” the grand old party said.

Similarly, the CPN (UML) reaffirmed its long-standing foreign policy doctrine of “friendship with all, enmity with none,” pledging further to strengthen cordial relations and cooperation with neighbouring friendly countries while deepening engagement with the wider international community. The party stressed that under its leadership, Nepal would harbour no ill intent toward any neighbour and would not undertake any action that could harm their interests.

--IANS

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