Also: * The Group of 20 Summit meeting in Rome approves the OECD-brokered 15% minimum tax, a boost for Biden but yet to be endorsed by member-nation legislatures, including Congress. * Biden attends virtually the US-ASEAN and East Asia Summits, ending a three-year US presidential absence. * Canada and Mexico strongly protest Democrats’ proposed Build […]
Biden admin: neglect world trade, increase world taxes
Most governments, hating low taxes, have just endorsed the Biden-Yellen proposal to create a world minimum tax cartel of at least 15%. Meanwhile, the Biden administration hasn’t bothered to renew Trade Promotion Authority, underlining its indifference to expanding US trade abroad. Nor, in a policy that benefits China, has it stopped knee-capping the World Trade […]
China on the outs with US Congress, EU Parliament
But Biden administration does Putin a big favor The May 17th to May 23rd, 2021 roundup of major trade developments, with L.C. The bipartisan package of China-centered and tech-focused legislation promised by Senate Majority Leader Chuck Schumer (D-NY) is moving ahead on Capitol Hill, although the details of the final bill are yet to emerge. […]
The Biden administration’s love affair with Trump’s tariffs
Also: *US Trade Representative Tai’s uninformative testimony in Congress;*Biden’s “Buy American” State of the Union, in lieu of a trade policy;*US splits EU with its 21% global corporate tax proposal to the OECD;*Japan, India, and Australia launch supply chain initiative to lessen vulnerability to China;*Congress proposes bill to take on leadership in setting standards. The […]
The Biden tax and spending program will destroy the American economy
The Biden tax program is to economics as the Biden green energy program is to science. by Richard Schulman The Biden tax programs can’t pay off the huge debt the administration is incurring. Corporate investment will suffer, as will workers’ income. The Biden administration’s American Jobs Plan (AJP) introduces multiple important changes to the US […]
