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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 US stock market sank deeper into the red following sluggish economic reports on Monday and bad news from a couple of blue-chip giants.The Dow fell 600 points by late afternoon, or 2.6%. The S&P 500 lost 2.6% and retreated to its lowest level of the year. And the Nasdaq joined the Dow & S&P 500 in negative territory for 2018. All three indexes have plunged about 7% so far this December.The Dow closed down 507 points for the day.And the Russell 2000 index of small-cap stocks tumbled into a bear market, marking a 20% decline from the record highs notched in late August.A weaker reading from the New York Federal Reserve about manufacturing in the Empire State and a drop in confidence from the nation's homebuilders weighed on the markets."Investors are zeroing in on this idea of slower growth for 2019," said Michael Arone, chief investment strategist at State Street Global Advisors. "More people are worried about a recession in late 2019 or 2020."The political noise in Washington isn't helping either. President Trump, in a tweet Monday morning, repeated his criticism of the Federal Reserve for its recent rate hikes. The Fed meets Wednesday and is widely expected to raise rates again.But Trump tweeted that "it is incredible that with a very strong dollar and virtually no inflation, the outside world blowing up around us, Paris is burning and China way down, the Fed is even considering yet another interest rate hike. Take the Victory!"The Fed is supposed to be politically independent. Any evidence that it might be swayed by attacks from Trump could unnerve the markets."If the Fed doesn't raise rates it will look like it's succumbing to the bullying of Trump's tweets," Arone said.But Nancy Perez, managing director at Boston Private, said the Fed is likely to slow down its pace of rate hikes in 2019 simply because the economy is slowing, not because of pressure from Trump.Perez added that the recent market turmoil is justified because investors are readjusting to this fact."We have been getting a bump in profit margins due to lower taxes but the earnings growth itself is not sustainable," Perez said. "Projections will come down and volatility will continue." 2247

The school buildings in Evanston, Illinois, are still empty. But the district’s recently hired superintendent caused a stir during a public Zoom meeting announcing how the they will decide which students get priority seating when in-person learning resumes.“We have to make sure that students, who have been oppressed, that we don’t continue to oppress them, and we give them opportunity,” said school superintendent Dr. Devon Horton of the Evanston/Skokie school district in late July.“We will be targeting our dependent learners – those are students who are marginalized first,” he said.Low-income students, special needs and those dealing with homelessness are just some who will be first in line. There have been angry letters, petitions and even death threats to the superintendent and school board.“Understanding that other folks are experiencing more vulnerability and more harm than my family is experiencing,” says Anya Tanyavutti, a parent of two and the Evanston district’s school board president. “I'm happy to see those resources go to people who need it more.”For the last four years, the Evanston school district has been working on implementing anti-racism resolutions and curricula to address inequity.“Taking an anti-racist stance requires some sort of sacrifice,” says Dr. Onnie Rogers a professor at Northwestern University’s school of Education and Social Policy. “I think that's really the part of racial equity that our country is still getting used to on the ground.”Here in Evanston, the achievement gap does fall along racial lines where Black and Latino students are one-third as likely as white students to meet college readiness benchmarks.The district acknowledges that its plan to allow some students to return before others falls mostly along racial lines. But it is need, they say, not race, that will be the determining factor.“If we simply said we're gonna just reopen for whoever wants to come, then the people who are most well-resourced and most well-connected would likely be able to get those seats prior to people who are challenged with homelessness or challenged with getting food on the table,” says Tanyavutti.And there has been opposition. Arlington, Virginia, based ‘Students for Fair Admissions’- a non-profit advocacy group that has mounted legal challenges to affirmative action, has called the district’s plan unconstitutional.“If that student has unique special needs then that's fine to take those into consideration,” says Edward Blum, president of Students for Fair Admissions. “What is not fine to take into consideration is the skin color or ethnic heritage of students.”“It has been legally reviewed, and I am confident that we are operating within the bounds of our Constitution,” says Tanyavutti.In-person learning is tentatively scheduled to resume in mid-November. And while the district says it will accommodate as many students as possible the priority remains their most vulnerable student population. 2974

The Supreme Court says Justice Ruth Bader Ginsburg has been discharged from a hospital in New York City and has returned home. The court says Ginsburg, 87, is doing well, two days after undergoing a minimally invasive procedure on Wednesday to “revise a bile duct stent” at Memorial Sloan Kettering Cancer Center. The stent had originally been placed last August, when Ginsburg was treated for a cancerous tumor on her pancreas. Ginsburg announced earlier this month that she is receiving chemotherapy for a recurrence of cancer.Stent revisions are common occurrences and the procedure, performed using endoscopy and medical imaging guidance, was done to minimize the risk of future infection, her doctors said, according to a statement.In May, Ginsburg was hospitalized for treatment for a benign gallbladder condition.Ginsburg has also beaten cancer four times after suffering from pancreatic cancer last year. 921

The shortest day in what feels like the longest year has arrived. Monday is the Winter Solstice, the day each year when there is the least amount of sunshine in the Northern Hemisphere.The Winter Solstice is the official first day of winter, which lasts until March 20, 2021. It’s when the sun appears at its most southern position in the sky.If it has felt like the world has been getting darker and darker the last six months, that’s because it kind of has been. As the sun spent less and less time shining on the Northern Hemisphere.The closer a person is to the North Pole, the less time they will see the sun. People in Nome, Alaska will only have roughly 3 hours and 54 minutes of sunshine on Monday.There will now begin to be slightly more daylight each day until the Summer Solstice, which is on June 20, 2021.In the Southern Hemisphere, it’s the opposite: it’s the day each year with the most sunshine and marks the beginning of summer in places like Australia, Argentina and South Africa.Many traditional celebrations on the solstice were canceled this year because of the coronavirus pandemic. Including at the world famous Stonehenge, where there is usually a large annual celebration on the solstices. 1222