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.
The U.S. and China may be at odds on trade, but both are lining up to crack down on big tech, according to an analyst. "I think this is actually wrapped up in the trade issue, which is around national security and tech companies," Michael Hessel, political economy analyst at Absolute Strategy Research, told CNBC's "Squawk Box Europe" on Thursday.
In late June, the Pentagon announced the creation of the Joint Artificial Intelligence Center, or JAIC. Defense officials have not said how many people will be dedicated to the new program or where it will be based when it starts next month. It could have several offices around the country.
John Holdren, Obama’s science adviser, called him “a very good pick.” Climate scientists such as Katherine Hayhoe and Judith Curry have expressed their approval. It’s rare we see Myron Ebell, who headed the EPA transition team, and Rush Holt, the head of the American Association for the Advancement of Science, in emphatic agreement.
This caps off months of will-they-won’t-they from Republicans, many of whom view the two major Chinese telecoms as national security threats. In June, the Senate overwhelmingly passed an amendment that would have reinstated a trade ban on ZTE, potentially shutting down the company. The House, however, did not, and the big question was how the two chambers would find a compromise -- or if they would drop the matter entirely.
China’s complaints about the act come as the world’s two biggest economies engage in an increasingly bitter fight over trade, levying tariffs on each others’ products. U.S. President Donald Trump signed a $716-billion defense policy act on Monday that authorizes military spending and waters down controls on U.S. government contracts with China’s ZTE Corp and Huawei Technologies Co Ltd .
The final version of an annual defense policy bill would set new authorities for the Department of Defense to deter and respond to attacks in cyberspace, including establishing the first U.S. policy on cyber warfare. Following House and Senate negotiations, a conference report on the National Defense Authorization Act (NDAA) released Monday says the United States should be able to use every option on the table, including offensive cyber capabilities.
President Trump signed legislation Tuesday that renews a federal workforce development program, sending $1.2 billion a year to states but with fewer requirements from Washington on how to spend the money and assess the success of programs. The legislation drew bipartisan support.
It is no surprise that looming tariffs have impacted global markets. The U.S. imposed tariffs on a number of foreign goods, and the rest of the world responded. The markets, bearing the potential for a trade war, have volleyed based off this news, and several sectors could face potential losses. Not all industries, however, face negative futures as a result of these tariffs. Some are set to thrive.