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The US-China trade war ratcheted up yet again on Friday, with Beijing unveiling a new round of retaliatory tariffs on about billion worth of US goods.China will place tariffs of 5% or 10% on US imports starting on September 1st, according to a statement posted by China's Finance Ministry.The Ministry also announced plans to resume tariffs on US imports of automobiles and automobile parts. The tariffs would be 25% or 5%, and would take effect on December 15th.Last week, China said it would take countermeasures after the United States announced it would impose 10% tariffs on Chinese imports worth 0 billion.The United States postponed the implementation of about half of those tariffs, which will cover several categories of Chinese-made consumer goods, until December. They had been due to take effect in September.The move comes amid indications the ongoing trade war is having an impact on the world's two largest economies. Industrial production in China — an important indicator for the country's economy — grew just 4.8% in July compared to a year earlier, according to China's National Bureau of Statistics. That's the worst growth for that sector in 17 years.American factories are also contracting for the first time in a decade and red lights are flashing in the bond market, where the yield curve has inverted. Such inversions, where the 10-year Treasury yield dips below the two-year Treasury rate, are historic predictors of a coming recession. 1481

The Trump administration wants to tighten the rules governing who qualifies for food stamps, which could end up stripping more than 3 million people of their benefits.The Agriculture Department issued a proposed rule Tuesday that curtails so-called broad-based categorical eligibility, which makes it easier for Americans with somewhat higher incomes and more savings to participate in the Supplemental Nutrition Assistance Program, or SNAP, the formal name for food stamps.It is the administration's latest step to clamp down on the food stamps program, which covers 38 million Americans, and other public assistance services. It wants to require more poor people to work for SNAP benefits, and it is looking to change the way the poverty threshold is calculated, a move that could strip many low-income residents of their federal benefits over time.Broad-based categorical eligibility allows states to streamline the food stamps application process for folks who qualify for certain benefits under the Temporary Assistance for Needy Families program. Some 40 states, plus the District of Columbia, use this option, which lets them eliminate the asset test and raise one of the income thresholds.Republicans have long argued that this expanded eligibility option is a "loophole" that permits those with higher incomes and assets to get public assistance. GOP lawmakers have tried to limit it several times -- including in last year's farm bill, though it didn't make it into the final version. The proposed USDA rule is expected to save .5 billion a year."For too long, this loophole has been used to effectively bypass important eligibility guidelines," said Agriculture Secretary Sonny Perdue, who pointed out on a call with reporters that a millionaire in Minnesota recently enrolled through the option to highlight the problems with it. "That is why we are changing the rules, preventing abuse of a critical safety net system, so those who need food assistance the most are the only ones who receive it."Consumer advocates, however, say that the option helps low-income working Americans get the help they need. They still must meet the disposable income threshold for the food stamp program, though they can have a higher gross income (before deductions such as child care costs are taken into account).The option is "an opportunity-oriented policy to promote work and promote savings," said Stacy Dean, vice president for food assistance at the left-leaning Center on Budget and Policy Priorities. 2518

The Senate committee that oversees the US aviation industry will hold a hearing on air safety, following the weekend's deadly crash in Ethiopia, the chairman of the Senate Committee on Commerce, Science and Transportation announced Tuesday."It is important to allow the FAA, NTSB and other agencies to conduct thorough investigations to ensure they have as much information as possible to make informed decisions," said Republican Sen. Roger Wicker of Mississippi in his statement. "Thousands of passengers every day depend on the aviation system to get them safely to their destinations, and we must never become complacent with the level of safety in our system. Therefore, the committee plans to hold a hearing reviewing the state of aviation safety to ensure that safety is maintained for all travelers."The announcement of the hearing follows days of lawmakers asking questions about and some demanding the grounding of the Boeing 737 MAX 8 aircraft, which was not only the model of plane that crashed over the weekend but also was the same type of vessel that went down over the Java Sea last October in a separate deadly cash.Democratic Sen. Richard Blumenthal of Connecticut, who sits on the committee, said Tuesday he's told his family and others to switch planes rather than fly on the Boeing 737 MAX 8. 1325

The U.S. Senate unanimously voted to pass the PACT Act on Tuesday, which will make animal cruelty a federal felony. The "Preventing Animal Cruelty and Torture (PACT) Act" was introduced by Congressmen Vern Buchanan and Ted Deutch. The House voted to pass the act on Oct. 23. “This is a milestone for pet owners and animal lovers across the country,” Buchanan said. “For the first time, a national law has been passed by Congress to protect animals from cruelty and abuse.”The act specifically bans crushing, burning, drowning, suffocating, impaling or otherwise subjecting animals to serious bodily harm. "This is commonsense, bipartisan legislation to bring some compassion to our animal laws," Deutch said. In 2010, Congress passed legislation making it illegal to create and distribute so-called "animal crush videos" that showed people brutally killing and torturing animals. The underlying acts themselves are still legal under federal law. The PACT Act aims to close those loopholes. “The torture of innocent animals is abhorrent and should be punished to the fullest extent of the law,” Buchanan said. “Protecting animals from cruelty is a top priority for me and I’m proud to work with Congressman Deutch on this important issue.”President Trump is expected to sign the act in the near future, according to a press release from Congressman Buchanan. 1370

The Trump administration pressured the Department of Homeland Security to release immigrants detained at the southern border into so-called sanctuary cities in part to retaliate against Democrats who oppose President Donald Trump's plans for a border wall, a source familiar with the discussions told CNN on Thursday.Trump personally pushed Homeland Security Secretary Kirstjen Nielsen to follow through on the plan, the source said. Nielsen resisted and the DHS legal team eventually produced an analysis that killed the plan, which was first reported by 568

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