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.
Many of the trade issues on which U.S. President Donald Trump is now focusing have been concerns for numerous White House administrations, according to Michael Froman, who served as U.S. Trade Representative under former President Barack Obama.
Investments in rural broadband deployment can create significant returns on investments for state economies. A recent study from Purdue University's Center for Regional Development contends that Indiana could generate a $12 billion economic impact over 20 years with strategic broadband investments in rural areas across the state.
A report published on Thursday by the Foundation for Defense of Democracies warns Chinese cyberespionage is the “single greatest threat to U.S. technology,” siphoning over $300 billion per year from the U.S. economy.
At the heart of the United States’ Generalized System of Preferences (GSP) lies a recognition that free trade supports economic growth in developing countries, and such trade can be mutually beneficial. However, with their duty-free access to U.S. markets comes the responsibility of abiding by free and fair trade practices.