Immigrant entrepreneur Elon Musk has just settled a Securities and Exchange Commission (SEC) suit on terms favorable to himself and the innovative companies he founded. Shortly before, the SEC had said that it was “seeking to bar Mr. Musk, Tesla’s largest shareholder and its top executive, from serving as an officer or director of any […]
Little support in private sector for administration’s escalating trade war
Trade correspondent L.C. reports: The US has imposed the threatened third major expansion of Section 301 tariffs — 10% tariffs on $200 billion in Chinese exports to the US. China’s has responded with retaliatory tariffs that will hit $60 billion in US exports to China and take effect today, Sept. 24th. There is virtually no […]
Republican congressmen fear losing races because of trade war impact
Trade correspondent L.C. reports: President Trump says he is about to impose $200 bn. in new tariffs on the next tranche of targeted Chinese exports, though the interest rate may be 10%, not the 25% earlier contemplated. Nevertheless, Washington appears to be wary of the response — Chinese and domestic — to new US tariff […]
Why the Republican House is pushing “Tax Reform 2.0”
Republican legislators in the House of Representatives have announced that they will hold a vote before the end of September on a bill known as Tax Reform 2.0 (“TR2”). The bill would make permanent the politically popular provisions of the original tax bill (“Tax Reform 1.0”) passed by the Republican House and Senate and signed […]
Trump threatens Japan and Canada with ruinous auto tariffs
Trade correspondent L.C. reports: President Trump threatened Japan with unspecified action over its persistent trade surplus with the US. The threat came in a telephone conversation with Wall Street Journal assistant editor James Freeman, who quoted the President as saying that the US has “good relations” with Japan but that he “is still bothered by […]
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