The latest round of high-stakes talks to resolve trade and economic disputes between the U.S. and China is scheduled to resume in Beijing this week. The American side will be led by United States Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin; China will be led by Vice Premier Liu He. The U.S. has threated to impose new tariffs on $200 billion of Chinese goods if an agreement isn’t reached by March 1.
China promised to “substantially” expand purchases of U.S. goods after the latest round of trade talks, and both sides planned further discussions to reach a breakthrough with only a month to go before the Trump administration is set to ratchet up tariffs. President Donald Trump said Thursday he will dispatch two of his top negotiators to China following two days of talks with Chinese officials in Washington.
The USMCA is the right deal for the U.S. because it puts innovation, and all those who help drive our technological and productivity advances, front and center. Key to the continued promotion of U.S. innovation is the establishment of critical intellectual property (IP) protections that safeguard and reward U.S. innovations. While Canada and Mexico remain some of our closest economic allies, too often relaxed IP protections in both countries have undermined U.S. incentives to innovate and compete fairly in those markets.
The Trump administration has been clear about its view of China. A 2017 national security strategy document called China a “revisionist” power attempting to reorder international politics to suit its interests. It’s difficult to think otherwise given Beijing’s military buildup, its attempts to undermine American influence and power, its retaliations against American allies such as Canada, and its economic actions.
Artificial intelligence is poised to make a significant impact on the global economy, adding $15.7 trillion to the GDP by 2030. In pursuit of these economic benefits, many countries have developed national strategies to promote the adoption of AI within their borders, such as China’s ambitious plan to become the global leader in AI. But what can state and local governments -- especially those outside of the country’s main tech hubs -- do to ensure they are not left behind in the AI economy?
This year, expect the space economy to really take off. According to Space Angels, an investment firm specializing in aerospace, private investment in space-related businesses has jumped from a handful of companies and a couple hundred million dollars in 2009 to 375 companies and $15 billion today.
It's been nearly a decade since the end of the Great Recession, and unemployment in the U.S. has reached historic lows, giving workers the upper hand in the job market. "Maybe we're finally getting to that point where demand for labor and supply of labor have met," says Andy Challenger, vice president of Challenger, Gray & Christmas, an executive outplacement firm. "Wages hopefully will begin to rise at a quicker pace."
The United States lost one-third of its manufacturing jobs--5.8 million positions--between 2000 and 2010. Although the economy has strengthened significantly since then, only about 12% of these jobs have returned. Their disappearance has resulted in painful social disruption: manufacturing had been a critical route to the middle class for those with high school educations or less.
This conversation, playing out in the ordinarily-mundane context of public comments on a Commerce Department advance notice of proposed rulemaking, carries significant implications not only for U.S.-China relations but for the broader future of U.S. national security and America’s economic competitiveness.
Prepare your calculators. The Internal Revenue Service has updated its tax brackets for 2019. This year marks the first under the new Tax Cuts and Jobs Act, an overhaul of the tax code that resulted in lower individual income tax rates, a doubled standard deduction and the elimination of personal exemptions. For the new year, the IRS has bumped up the individual income tax brackets, adjusting them for inflation.