“To put a $1.2 billion loss into perspective, every person in the state of Nebraska would need to contribute $632 to cover that volume of lost dollars [from Trump’s tariffs].”
– Jay Rempe, Nebraska Farm Bureau, senior economist.
Category: Economy
GM to slash jobs and production, cancel some car models
‘General Motors plans to halt production at 3 assembly plants in Canada, Ohio, and Michigan by not allocating new products, Reuters reports.
Cost pressures have increased. GM also has said Trump-imposed tariffs on imported steel have cost it $1 billion.’
U.S. Budget Deficit Jumps to $100 Billion at Start of Fiscal Year
‘The U.S. recorded a $100,500,000,000 budget deficit in October, an increase of about 60% from a year earlier, as spending grew twice as fast as revenue.’
Stocks tumble again on report US plans more tariffs
‘Stocks are falling sharply on Wall Street, erasing an early gain, following a report that the U.S. will announce tariffs on all remaining imports from China by early December if the two countries can’t make progress in resolving their trade dispute.’
Markets Right Now: Stocks plunge, erasing gains for the year
Stocks plunge again, wiping out gains for the year; technology swoon pulls Nasdaq 12 percent below August peak.
U.S. Charges Alleged Chinese Government Spy With Stealing U.S. Trade Secrets
Breaking: DOJ arrests & extradites officer of China’s Ministry of State Security for espionage. Yanjun Xu was lured to Belgium, arrested there and extradited to US yesterday. His targets were multiple US aerospace and aviation companies. Fascinating case & collar for DOJ
Kevin McCarthy to introduce bill to fully fund Trump’s border wall
House Majority Leader Kevin McCarthy to introduce bill to fully fund Trump’s border wall.
U.K., Germany Consider Fresh Russian Sanctions After Hacking Charges
The U.K. and Germany are considering fresh measures to put pressure on Russia after U.S. and European investigators disclosed a range of new accusations over hacking activities by Russian military intelligence.
U.S. Unemployment Rate Drops To 3.7 Percent, Lowest In Nearly 50 Years
‘The U.S. jobless rate dropped to 3.7 percent in September — the lowest since 1969, though the economy added a lower-than-expected 134,000 jobs, the Bureau of Labor Statistics said. The jobless rate fell from August’s 3.9 percent.’
U.S. not invited to Canada’s upcoming trade meeting — only ‘like minded’ nations allowed
Leader of the Free World 1919 – 2017.
‘Canada has not included the United States in an upcoming meeting aimed at saving the international trading system because it doesn’t share the views of the 13 invited countries, says the new Canadian trade minister.’