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President Donald Trump's tariffs were supposed to shrink America's trade deficit, but it has instead grown for five straight months and is on track to hit a record high before the end of the year.The monthly goods deficit grew by billion in October, according to a US Census report released Wednesday.The Census report is one of the first measures of trade released since Trump imposed his biggest round of tariffs in September on 0 billion of Chinese goods. It put a 10% tax on goods ranging from luggage to bikes and baseball gloves. Trump has threatened to increase the rate to 25% on January 1.The duties make it more expensive for US importers to buy those items, but Americans bought more goods from abroad in October than they did the month before. The figure may reflect stockpiling by American importers ahead of an additional hike in tariffs set to take effect in January, as well as strong consumer spending."There is some anecdotal evidence that US importers are likely pulling forward orders to get ahead of additional tariffs on Chinese goods, which could be one of the factors driving imports higher in recent months," said Pooja Sriram, an economist at Barclays.Last year's federal tax cuts have also put more money back into Americans' pockets, lifting demand for imports even if they're more expensive."We believe that domestic demand is likely to be sufficiently robust so as to keep imports elevated even after any additional tariffs," Sriram said.Additional data due out next week on trade of both goods and services is expected to show a 10-year high in the overall trade deficit, said Ian Shepherdson, chief economist at Pantheon Macroeconomics.That's the opposite of what Trump wants to achieve.The president has pledged to reduce America's trade deficit by pursuing new trade agreements with countries he argues are engaging in unfair trade policies, especially China. He's put tariffs on 0 billion of Chinese-made goods this year in an effort to make US-made products more attractive to consumers."It's been such a terrible one-way street with China," Trump told the Wall Street Journal in an interview Monday.Trump and Chinese President Xi Jinping are set to meet Saturday evening for a formal dinner on the sidelines of the G20 meeting in Argentina. It is their only scheduled meeting before the end of the year.White House economic adviser Larry Kudlow on Tuesday dangled the possibility?of a "breakthrough" at the dinner. But Trump escalated tensions earlier in the week, when he repeated a threat to put tariffs on the remaining Chinese goods if a deal can't be reached.The Trump administration argues that China is engaging in unfair trade practices, including intellectual property theft and forced technology transfers. But the Chinese say Trump's unilateral tariffs are bullying.American businesses and lawmakers on both sides of the aisle agree that the China trade issues should be addressed — but not everyone believes that tariffs are the right way. Some manufacturers and retailers say the duties could lead to job losses and higher prices for consumers."It would be hard to argue that (China) has behaved fairly in its trade practices," said Florida Democratic Rep. Stephanie Murphy this week at an S&P Global event in New York."But I think doing it in a multilateral way would have been a better approach," she said.Trump has also imposed tariffs on foreign steel and aluminum this year, in the interest of national security. US steel producers have welcomed the taxes, as they've seen prices for their own products go up. Steel Dynamics, an American producer, announced this week that they would be building a new steel mill in the southwest region of the country, creating 600 new jobs."Steel jobs are coming back to America, just like I predicted," Trump tweeted Wednesday.But American manufacturers that use steel, including automakers, have argued that the tariffs have made the cost of domestic production more expensive. 4055
Reporting on data from a Phase II trial of the vaccine, the authors write that volunteers in the trial demonstrate similar neutralising antibody titres and T cell responses across all three age groups of 18-55, 56-79, and 70+. pic.twitter.com/8oBZNJEBTn— University of Oxford (@UniofOxford) November 19, 2020 316

President Donald Trump's former campaign chairman Paul Manafort has been found guilty on eight counts of financial crimes, a major victory for special counsel Robert Mueller.But jurors were unable to reach a verdict on 10 charges, and Judge T.S. Ellis declared a mistrial on those counts.Manafort was found guilty of five tax fraud charges, one charge of hiding foreign bank accounts and two counts of bank fraud.He was charged with 18 counts of tax evasion, bank fraud and hiding foreign bank accounts in the first case Mueller brought to trial as part of the investigation into Russian interference in the 2016 US election.The trial carries major implications for the future of Mueller's investigation. Trump has repeatedly called the probe a "witch hunt" that hasn't found evidence of Russian collusion with his campaign, and his allies in and out of the White House say the special counsel should wrap things up.Prosecutors say Manafort collected million in foreign bank accounts from 2010 to 2014 and spent more than million on luxury purchases in the same period, including high-end clothing, real estate, landscaping and other big-ticket items.They also allege that Manafort lied to banks in order to take out more than million in loans after his Ukrainian political work dried up in 2015, and they accused him of hiding the foreign bank accounts from federal authorities. Manafort received loans from the Federal Savings Bank after one of its executives sought a position in the Trump campaign and administration, according to prosecutors."Mr. Manafort lied to keep more money when he had it, and he lied to get more money when he didn't," prosecutor Greg Andres told jurors during closing arguments. "This is a case about lies."Manafort, 69, has been in jail since June after his bail was revoked following new charges of witness tampering against him.He still faces a second set of criminal charges in a Washington, DC, federal court, of failure to register his foreign lobbying and of money laundering conspiracy related to the same Ukrainian political work that was central to the Virginia case. 2127
President Donald Trump signed a memorandum Tuesday that will attempt to prevent undocumented immigrants from being counted when U.S. congressional lines are redistricted following the 2020 census.Reuters was the first to report about the planned document. White House staffer Karoline Leavitt confirmed the report in a tweet late Tuesday morning."TODAY, President @realDonaldTrump is taking ACTION to preserve America's democratic principles and ensure law-abiding American citizens are fairly represented in Congress," she tweeted. 540
President Donald Trump took action Wednesday to make it a little easier for the nation's military spouses to find employment as their families deploy domestically and abroad.The President signed an executive order aimed at increasing opportunities for military spouses to obtain federal jobs and encouraging agencies to increase their use of the noncompetitive hiring authority for military spouses. Trump said he hoped the executive action would encourage private-sector businesses to follow suit in their hiring practices.Speaking to a crowd of military spouses at the White House, the President said, "Your support is essential to making our military the mightiest fighting force in the world and getting stronger all the time."He continued, "We can never repay you for all that you do. We know what you do, and your spouse knows what you do. We can never repay you for that, but we can and we will give you the opportunities you deserve."The unemployment rate for military spouses is 16%, four times the national average for female adults, a statistic the President noted.A survey of military families released last June from Hiring Our Heroes, a US Chamber of Commerce foundation, found that unemployment and underemployment are major challenges for the spouses of service members, 92% of whom are female. Among military spouses who are employed, 14% are in part-time jobs and half of that part-time group wants full-time work.Trump promised, "We are going to change that, and we are going to change it as quickly as we can. It will go fast."While many military spouses choose "portable" career paths like teaching or nursing or law, those often have state-specific licensing requirements that present barriers with each new move.The Trump administration is building on the work begun by former first lady Michelle Obama and former second lady Jill Biden, who through their Joining Forces initiative called on US governors to streamline licensing and credentialing for the military community."Even though all 50 states have addressed this issue in some way, we know that there are still plenty of gaps and challenges that we need to work on, so as far as I'm concerned, our work here definitely isn't finished," Michelle Obama told the Military Times in 2016.The licensing barriers sometimes force spouses to choose between advancing their own careers and moving from place to place with their service member husband or wife."We're working with states across the country to encourage them to remove licensing barriers so that spouses who work in careers such as teaching, nursing and law, many others, also can get a job in their profession no matter where they move," Trump said Wednesday.The administration has been working to address the challenges of military spouse employment for several months. Counselor to the President Kellyanne Conway and senior adviser Ivanka Trump held a listening session with military spouses last August, and they have since had meetings on the topic.The White House's own Office of Public Liaison Deputy Director Jennifer Korn, who was present for the signing of the executive order Wednesday, is the wife of a Marine."One of the biggest challenges is, do I leave my career or do I leave my husband?" Korn said at the listening session last year."At different points of my career, I have left my career. A couple times, me and my husband have lived apart, at one point three years apart while he was on back-to-back deployments. It's very difficult if you have to choose." 3519
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