There are a number of things - like Social Security, Medicare, healthcare, education and national defense - that require federal involvement - and digital technology is one of them. Not that the federal government ignores technology. Some would argue there’s already too much government “interference” with the technology markets and more than enough funding of technology initiatives. The call here is for an aggressively expanded federal agenda.
As part of the continuing trade negotiations, the issue of Huawei would be saved until the end of the trade talks, with President Trump saying, We’ll have to save that to the very end, we’ll have to see.” In other words, the question of lifting the ban on Huawei selling its products, which include smartphones, laptops and communications infrastructure technologies, to the U.S. has not been changed.
Ahead of a high-stakes meeting Saturday with Chinese President Xi Jinping, President Trump has expanded a new battle front with Beijing and other leading U.S. foes: a technology war.
Ivanka Trump and US Secretary of Commerce Wilbur Ross visited Charlotte on Tuesday as part of an effort to promote workforce development and future-focused manufacturing jobs.
“The technology war is not going to end,” Alastair Newton, director of Alavan Business Advisory and a former British diplomat, told CNBC’s “Squawk Box” on Wednesday. “Technology is where this battle is going to be fought out, even if we do get a trade deal on bilateral goods.”
President Trump and lawmakers are looking to begin a massive trillion-dollar overhaul of the nation’s infrastructure, but costs are top of mind as financing becomes a key source of debate. Democratic leaders said last week they reached an agreement with Trump for a $2 trillion infrastructure initiative. They are expected to meet again in the coming weeks to discuss funding options.
President Trump on Wednesday signed an executive order declaring a "national emergency" that would empower his administration to block foreign tech companies from doing business in the U.S. if they are deemed a national security threat. The order does not name any countries or companies, but the administration has launched a global campaign to keep the Chinese telecom Huawei from helping U.S. allies develop next-generation wireless infrastructures.
After decades of energy dependence, the United States became the largest energy producer in the world in 2018, topping Saudi Arabia and Russia in the production of crude oil and natural gas. Five years ago, U.S. LNG exports were virtually non-existent, with the exception of pipelines between the United States, Mexico and Canada. By 2020, the Energy Information Agency projects the United States will become a net exporter of energy for the first time since the 1950s.
As a tool of national policy, tariffs had long been fading into history, a relic of the 19th and early 20th centuries that most experts came to see as harmful to all nations involved. Yet more than any other modern president, Trump has embraced tariffs as a punitive tool -- against Europe, Canada and other key trading partners but especially against China, the second-largest economy after the U.S.
President Donald Trump boosted tariffs Friday on $200 billion in goods from China and was preparing more in his most dramatic steps yet to extract trade concessions, further roiling financial markets and casting a shadow over the global economy. China immediately said in a statement it is forced to retaliate, though hadn’t specified how as of 3:55 p.m. in Beijing.