The quick about-turns expose the internal contradictions – and lack of comprehensive planning – in US trade policy and its broader global economic implications.

The US debt jumped above $17-trillion for the first time in history, the Treasury Department said Friday.

US President Barack Obama has pushed through a Senate deal aimed at averting a debt default and ending a government shutdown.

Barack Obama has accused Congress of holding back the US economic recovery by blocking "common sense" measures he said would create jobs.