Supply bottlenecks leave ships stranded, businesses stymied
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.
International Business
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Artificial intelligence panel urges U.S. to boost tech skills amid China’s rise
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.
Biden to order a review of U.S. supply chains for vital goods
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.
International students, workers see hope in Biden administration
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.
Allegion hires new Carmel-based exec to lead Americas business
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.
Biden backs off on TikTok ban in review of Trump China moves
Separately, the Biden administration has “indefinitely” shelved a proposed U.S. takeover of TikTok, according to a Wall Street Journal report.
Biden treads carefully around Trump’s combative trade policy
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 pipeline halted as Biden revokes permit
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 economy grew in 2020 on earlier rebound from virus
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.
Another judge blocks Trump’s TikTok ban; app still in limbo
The Trump administration has alleged that TikTok is a security threat because the Chinese government could spy on app users’ personal data.
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.
Judge throws out Trump rules limiting skilled-worker visas
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 asks court to intervene as Trump order looms
TikTok’s Chinese owner, ByteDance, has until Thursday to sell off its U.S. operations under an executive order that Trump signed in August.
Global watchdog proposes tax overhaul for Big Tech
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.
Software firm Emarsys acquired by German firm
Emarsys, a marketing software company based in Austria, has its North American headquarters in Indianapolis.
Judge blocks TikTok ban in 2nd ruling against U.S. effort to curb popular Chinese apps
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.
Judge agrees to delay U.S. government restrictions on WeChat
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.
United States bans WeChat, TikTok, citing national security
The government said its order, previously announced by President Donald Trump in August, will “combat China’s malicious collection of American citizens’ personal data.”
U.S. tariffs on China ruled to be illegal by World Trade Organization
In its decision, the WTO ruled against the administration’s argument that China has engaged in practices harmful to U.S. interests, on issues including intellectual property theft, technology transfer and innovation.
U.S. trade deficit surges to highest level in 12 years
The increase was driven by a record 10.9% increase in imports. Exports were also up, but by a smaller 8.1%.