The rollout of COVID-19 vaccines and vast sums of government aid will accelerate global economic growth to a record high this year in a powerful rebound from the pandemic recession, the International Monetary Fund says in its latest forecast.
U.S. trade policies likely to soften after Biden becomes president
The incoming administration is widely expected to embrace a more multinational approach to U.S. trade policy, moving away from the “America first” strategy embraced by President Trump.Read More
Supreme Court declines to hear challenge to Trump’s steel tariffs
The U.S. Supreme Court declined to question President Donald Trump’s imposition of more than $4 billion in steel tariffs, turning away an appeal that challenged his use of national security as the legal justification for his trade agenda.Read More
U.S. Treasury Secretary Janet Yellen on Monday urged the adoption of a minimum global corporate income tax, an effort to offset any disadvantages that might arise from the Biden administration’s proposed increase in the U.S. corporate tax rate.
Goods entering the U.S.—ranging from Austrian grand pianos and British merry-go-rounds to Turkish Kilim rugs and Italian anchovies—could face tariffs of as much as 25% annually.
Main Street businesses are now forced to wait months instead of the usual weeks for a delivery from China, and no one knows when the situation will be resolved.
Executives from Google, Microsoft, Oracle and Amazon are among the 15 members of the National Security Commission on Artificial Intelligence, which released its final report to Congress on Monday.
The executive order will cover U.S. supply chains for large-capacity batteries, pharmaceuticals, critical minerals and semiconductors that power cars, phones, military equipment and other goods.
For international students seeking degrees at Indiana universities and hoping either to gain employment with domestic firms or start their own U.S.-based companies, the next four years promise to be far less angst-ridden and uncertain than the previous.
Luis Orbegoso, 50, joins Allegion from American Residential Services. He’ll be based in Allegion’s Carmel office and oversee the security-products company’s operations in the Americas.
Separately, the Biden administration has “indefinitely” shelved a proposed U.S. takeover of TikTok, according to a Wall Street Journal report.
In his first weeks in office, President Joe Biden has wasted no time in dumping a batch of major Trump administration policies, but his administration seems intent on approaching trade with caution and deliberation.
Keystone XL President Richard Prior said over 1,000 jobs, the majority unionized, will be eliminated. The premier of the oil-rich Canadian province of Alberta called the decision an “insult” and said the Canadian government should impose trade sanctions.
China eked out 2.3% economic growth in 2020, likely becoming the only major economy to expand as shops and factories reopened relatively early from a shutdown to fight the coronavirus while the United States, Japan and Europe struggled with rising infections.
The Trump administration has alleged that TikTok is a security threat because the Chinese government could spy on app users’ personal data.
A federal judge on Tuesday struck down two Trump administration rules designed to drastically curtail the number of H-1B visas issued each year to skilled foreign workers.
TikTok’s Chinese owner, ByteDance, has until Thursday to sell off its U.S. operations under an executive order that Trump signed in August.
If countries don’t all agree on the new tax rules, the Organization for Economic Cooperation and Development warned there’s a risk of a global trade war triggered by individual countries launching their own digital services taxes to help their recovery from the pandemic.
During a rare Sunday hearing, the judge questioned whether TikTok had been given enough opportunity to defend itself before President Donald Trump issued an executive order last month barring the app from online stores.
WeChat has millions of U.S. users who rely on the app to stay in touch and conduct business with people and companies in China and around the world.
The government said its order, previously announced by President Donald Trump in August, will “combat China’s malicious collection of American citizens’ personal data.”