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.
While Virginia and D.C. officials tout Amazon’s arrival as an economic boon to greater Washington, an influx of expensive labor could pose steep costs for the area’s most vulnerable residents. From housing prices to political pressure, here are five ways Amazon’s new headquarters could affect the D.C. area...
China will lower import tariffs and continue to broaden market access, President Xi Jinping said on Monday at the opening of a week-long trade expo seen as an attempt by Beijing to counter mounting criticism of its trade and business practices. Xi also promised to accelerate opening of the education, telecommunications and cultural sectors, while protecting foreign companies' interests and enhancing punitive enforcement for infractions of intellectual property rights.
With Europe passing the General Data Protection Regulation (GDPR) -- a significant piece of data protection legislation with global implications -- and now California implementing a new privacy law, coupled with several high-profile incidents involving companies exposing consumer data, there is a growing push for federal data privacy legislation in the United States.
The buzz is building for Amazon’s highly-touted HQ2, the company’s ambitious plan to build a secondary headquarters that could rival — or possibly surpass — its massive operation in Seattle. The stage is set, with 20 finalists now in the running for a new headquarters that could employ as many as 50,000 workers.
The United States was named the world's most competitive economy by the World Economic Forum (WEF) on Wednesday. In its Global Competitiveness Index, WEF -- known for its annual economic forum in Davos, Switzerland -- ranked the U.S. as the most competitive of 140 economies, the first time the nation has reached the top spot in a decade.
U.S. tariffs on around $200 billion in Chinese imports are set to jump to 25% on Jan. 1, up from the 10% implemented last month. That works out to around $30 billion in new taxes to be paid by U.S. importers, many of whom will pass at least some of the costs on to U.S. consumers.
For the first time since 2005, the United States ranks in the top 10 of the freest countries in the world according to the Fraser Institute’s newest Economic Freedom Rankings, which it just released. The US fell from fourth to sixth during the George W. Bush administration and slid to 10th and 11th during the Obama years, but then began a recovery. In the first year of the Trump administration, we jumped back to sixth.