The Trump administration said Wednesday it will impose an additional 25% tariff on many Brazilian goods, escalating a trade fight it says is rooted in Brazil's treatment of U.S. companies. Why it matters: The new policy includes exemptions for key consumer staples like coffee and beef, suggesting the White House is trying to minimize the inflationary impact on American shoppers even as it steps up pressure on Brazil over disputes involving U.S. tech firms, ethanol and more. The big picture: A senior administration official says the tariffs are in response to Brazil's unfair barriers against U.S. technology and payment companies. - The administration also accuses Brazil of restricting market access for American ethanol, inadequately…
When Brussels blocked Amazon's rescue of iRobot, an American company was regulated out of existence and a Chinese buyer took the spoils. The Digital Markets Act and Digital Services Act are doing the same to firms across Silicon Valley. President Trump should widen his Section 301 offensive to the EU.
Earlier this year, iRobot, the company that made the Roomba, filed for bankruptcy and was sold off to a Chinese supplier. The cause was a decision made in Brussels, three years ago, to block Amazon’s rescue offer. Thusly, an American company was regulated out of existence by a foreign bureaucracy. A Chinese competitor inherited the spoils, which is a fair summary of how the European Union’s (EU) so-called consumer protections work in the real world. iRobot is no isolated case. The EU has built an entire regulatory architecture for precisely this purpose, with two pieces of legislation: the Digital Markets Act (DMA) and the Digital Services Act (DSA), marketed as consumer protection but functioning as industrial policy directed at firms…Open
Automakers and their suppliers, steel producers, and unions argue that China's highly subsidized and massive auto industry would allow the Asian country to sell cars far below what U.S. automakers could.
The Trump administration yesterday took a giant step toward allowing alternative assets in 401(k) plans, with the Department of Labor proposing rules that now will be open for two months of public comment. The big picture: Pay more attention to the actual rule than to the press release . - The former focuses primarily on process, including the use of benchmarks. The terms "prudent" or "prudently" are mentioned 105 times. It makes no claim that adding private equity or crypto to a 401(k) will improve performance. - The latter does a lot more cheerleading for "President Trump's promise for a new golden age," although it does cite "prudent process" near the end. What they're saying: "I'm surprised by how neutral the rule was, when you…
India and the European Union have reached a free trade agreement, at a time when Washington targets them both with steep import tariffs, pushing major economies to seek alternate partnerships.
AI:India and the European Union have reached a historic free trade agreement, a move driven by the need for alternative economic partnerships as both regions face steep import tariffs from Washington.Open