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The United States and China are acting tough over trade, but they're also busy talking to try to stop the situation spiraling out of control.President Donald Trump ramped up tensions last week by ordering tariffs on about billion worth of Chinese goods just weeks after announcing of sanctions on steel and aluminum imports. Beijing has responded with plans to target billion worth of US products and warnings that it's ready to inflict more pain.The moves have fueled fears that the situation could escalate into a full-blown trade war between the world's two largest economies. But Treasury Secretary Steven Mnuchin said Sunday that he's been talking to Chinese officials in an effort to prevent that."We're not afraid of a trade war, but that's not our objective," he said in an interview on Fox News."We are going to proceed with our tariffs ... we're also working on investment restrictions," Mnuchin said. "But we are simultaneously having negotiations with the Chinese to see if we can reach an agreement."The US government wants China to do a lot more to open up its vast economy to US businesses and bring down the massive trade deficit between the two countries.Trump has set a target of cutting the deficit in goods with China by 0 billion. It soared to 5 billion last year, according to US figures.Mnuchin said the United States wants China to do away with rules that require foreign companies to set up joint ventures with Chinese firms in many industries, such as automobiles, and to stop forcing American businesses to hand over valuable intellectual property in order to operate in China. Intellectual property theft is the reason the Trump administration gave for the planned billion in tariffs on Chinese goods.Mnuchin and US Trade Representative Robert Lighthizer detailed the US requests in a letter to a top Chinese economic official late last week, according to the Wall Street Journal. They included asking Beijing to reduce tariffs on American cars, increase spending on US semiconductors and provide greater access to the Chinese financial sector, the Journal reported, citing unidentified people with knowledge of the matter.A Treasury Department spokesperson declined to confirm the report."We are having very productive conversations with them," Mnuchin told Fox, adding that he was "cautiously hopeful" that the two sides could reach a deal. But in the absence of "an acceptable agreement that the president signs off on," the Trump administration will press ahead with the tariffs and other measures, he warned.China's point man for the talks is Liu He, a Harvard graduate who is one of President Xi Jinping's most trusted advisers. Liu was in Washington for talks with US officials the week that Trump announced plans for the tariffs on steel and aluminum and was recently appointed to the position of vice premier.Mnuchin and Liu spoke as recently as this weekend."Secretary Mnuchin called Liu He to congratulate him on the official announcement of his new role," the Treasury spokesperson said. "They also discussed the trade deficit between our two countries and committed to continuing the dialogue to find a mutually agreeable way to reduce it."China's official news agency Xinhua also reported the conversation, saying that Liu criticized the US allegations of Chinese intellectual property theft and warned Mnuchin that China "has the capability to safeguard its national interest."But Liu also said that China "hopes to see both sides remain sensible and work together to preserve the overall stability of China-US trade relations," according to the Xinhua report.Some experts are skeptical that Beijing will give Trump what he wants."China may be able to come up with some big ticket imports to allow it to appear to be trying to reduce the bilateral trade imbalance," Mark Williams, chief Asia economist at research firm Capital Economics, wrote in a note to clients on Friday. "But China won't be able to reduce the annual imbalance by 0bn as Mr Trump has demanded."And "the chances of China making substantive changes to its practices on intellectual property are also low," Williams said, adding that the practices are seen in Beijing as "a key element" of efforts to develop the Chinese economy. 4274
The turnaround at SeaWorld might be real.The theme park owner reported that visitors to SeaWorld grew 5 percent for the quarter, the second consecutive quarter that attendance rose.Sales and attendance figures topped forecasts, and shares surged more than 15 percent to a four-year high. Its stock is up more than 80 percent this year.SeaWorld has struggled since a documentary called "Blackfish" aired in theaters and on CNN in 2013. The film focused on an orca that had killed people, including a trainer, and suggested that the conditions in which it was confined at SeaWorld contributed to its violent behavior. The company has disputed certain points in the documentary.Interim CEO John Reilly said new rides, discounted prices for annual passes and a new marketing strategy that focuses on animal rescue efforts helped push the good results. Reilly took over from former CEO Joel Manby in February after Manby failed to stop a long slide in visitors."We are pleased with our strong second quarter financial results and the continued momentum we see in the business," Reilly said in a statement.The rise in visitors coincided with the start of the summer, when kids are off from school and families take vacations. Some analysts had dismissed a first quarter attendance surge because it came at a slow time for amusement parks.SeaWorld also owns the Busch Gardens and Sesame Place theme parks.But its SeaWorld parks draw the most scrutiny.In addition to the "Blackfish" documentary, the company has been targeted relentlessly by the animal rights group PETA.In an attempt to rehab its corporate image, SeaWorld announced in 2016 that it would stop breeding orcas in captivity and also end its orca shows at its San Diego theme park. They continue elsewhere.But PETA is not enamored of the changes.PETA owns a tiny stake -- 339 shares -- in SeaWorld, with the hopes that it can urge other investors to put more pressure on management for bigger changes."We find that many families who recently went to SeaWorld say they'll never go back after what they saw. Shareholders should be wary," PETA executive vice president Tracy Reiman said in a statement to CNNMoney."This summer's events show that although the marine park may have a few upward blips, it's on a downward trajectory that won't stop until the animals are out of the tanks and in coastal sanctuaries," Reiman added.While PETA may still not be satisfied with some of the changes, SeaWorld has put another problem behind it.The company said Monday that it had reached a settlement with the Securities and Exchange Commission over an investigation into certain "disclosures and public statements" made by SeaWorld.SeaWorld said it did not admit or deny any of the SEC's allegations and that it recorded a million charge in the quarter to settle the matter. 2834

The Trump administration has proposed further slashing the number of refugees the United States accepts to a new record low in the coming year.In a notice sent to Congress late Wednesday, just 34 minutes before a statutory deadline to do so, the administration said it intended to admit a maximum of 15,000 refugees in fiscal year 2021. That’s 3,000 fewer than the 18,000 ceiling the administration had set for fiscal year 2020, which expired at midnight Wednesday.The proposal will now be reviewed by Congress, where there are strong objections to the cuts, but lawmakers will be largely powerless to force changes.The more than 16.5% reduction was announced shortly after President Donald Trump vilified refugees as an unwanted burden at a campaign rally in Duluth, Minnesota, where he assailed his opponent, former Vice President Joe Biden. He claimed Biden wants to flood the state with foreigners.“Biden will turn Minnesota into a refugee camp, and he said that — overwhelming public resources, overcrowding schools and inundating hospitals. You know that. It’s already there. It’s a disgrace what they’ve done to your state,” Trump told supporters.Trump froze refugee admissions in March amid the coronavirus pandemic, citing a need to protect American jobs as fallout from the coronavirus crashed the economy.Secretary of State Mike Pompeo said the administration is committed to the country’s history of leading the world in providing a safe place for refugees.“We continue to be the single greatest contributor to the relief of humanitarian crisis all around the world, and we will continue to do so,” Pompeo told reporters in Rome on the sidelines of a conference on religious freedom organized by the U.S. Embassy. “Certainly so long as President Trump is in office, I can promise you this administration is deeply committed to that.”But advocates say the government’s actions do not show that. Since taking office, Trump has slashed the number of refugees allowed into the country by more than 80%, reflecting his broader efforts to drastically reduce both legal and illegal immigration.The U.S. allowed in just over 10,800 refugees — a little more than half of the 18,000 cap set by Trump for 2020 — before the State Department suspended the program because of the coronavirus.The 18,000 cap was already the lowest in the history of the program. In addition, the State Department announced last week that it would no longer provide some statistical information on refugee resettlement, sparking more concerns.Advocates say the Trump administration is dismantling a program that has long enjoyed bipartisan support and has been considered a model for protecting the world’s most vulnerable people.Scores of resettlement offices have closed because of the drop in federal funding, which is tied to the number of refugees placed in the U.S.And the damage is reverberating beyond American borders as other countries close their doors to refugees as well.“We’re talking about tens of millions of desperate families with no place to go and having no hope for protection in the near term,” said Krish Vignarajah, president of the Lutheran Immigration and Refugee Service, a federally funded agency charged with resettling refugees in the United States.Bisrat Sibhatu, an Eritrean refugee, does not want to think about the possibility of another year passing without reuniting with his wife.For the past 2 1/2 years, he has called the caseworker who helped him resettle in Milwaukee every two weeks to inquire about the status of his wife’s refugee case.The answer is always the same — nothing to report.“My wife is always asking me: ‘Is there news?’” said Sibhatu, who talks to her daily over a messaging app. “It’s very tough. How would you feel if you were separated from your husband? It’s not easy. I don’t know what to say to her.”He said the couple fled Eritrea’s authoritarian government and went to neighboring Ethiopia, which hosts more than 170,000 Eritrean refugees and asylum-seekers. Between 2017 and 2019, his wife, Ruta, was interviewed, vetted and approved to be admitted to the United States as a refugee. Then everything came to a halt.Sibhatu, who works as a machine operator at a spa factory, sends her about 0 every month to cover her living expenses in Ethiopia.“I worry about her, about her life,” Sibhatu said, noting Ethiopia’s spiraling violence and the pandemic. “But there is nothing we can do.”He hopes his wife will be among the refugees who make it to the United States in 2021.___Lee reported from Washington. 4558
The US Treasury Department is sanctioning Turkey's ministers of justice and interior in response to the detention of American pastor Andrew Brunson, White House press secretary Sarah Sanders said Wednesday."We've seen no evidence that Pastor Brunson has done anything wrong," Sanders said, calling Brunson's detention "unfair and unjust."The two ministers will have any assets and properties under US jurisdiction blocked and US persons will be prohibited from engaging in financial transactions with the ministers. 523
The United States has set another record for new coronavirus cases. More than 50,000 new cases were reported Wednesday, a single day record.For comparison, it took over two months to record that number of cases nationwide when the pandemic started.New cases have increased in at least 37 states over the past week. But Dr. Anthony Fauci says it's not too late to turn the surge around."It does not have to be 100,000 cases a day,” said Dr. Anthony Fauci, Director of the National Institute of Allergy and Infectious Diseases. “I used that number because I wanted to jolt people. If you leave the virus to its own devices, it will take off on you."The stark numbers have prompted state officials to issue warnings about gatherings for the Fourth of July weekend. Doctors say it could be a “perfect storm” for another spike.The mayor of Houston fears hospitals could reach capacity by mid-July if people don't help change the trajectory."Unless the behavior changes and people will engage in social distancing and wearing their masks and proper hygiene, there could reach a point where they are really at their limit," said Mayor Sylvester Turner. 1153
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