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☆ America is in a factory boom again. Even a recession may not bring it down this time
▼ + stars: | 2023-09-09 | by ( Bryan Mena | ) edition.cnn.com time to read: +8 min

A few days before Biden’s speech in Maine, the Fed approved raising interest rates to their highest level in more than 22 years, continuing an aggressive inflation-busting campaign. Customers are also being pinched with higher interest rates,” a food, beverage and tobacco products manufacturer told the ISM in its August survey. “When we built our first building, interest rates were around 14% or so, and that was in the early ’80s,” she said. “We’ve seen some plans go on hold or on a slower burn until those companies see what happens with interest rates and the economy,” he said. Recession or not, the bull case for US manufacturing has the industry — and Biden — in a good mood.

Persons: Kathie Leonard, Leonard, —, ”, ” Leonard, Joe Biden, “, ’ ” Leonard, Biden, Charles Krupa, Paul Krugman, Goldman Sachs, It’s, Scott Paul, Paul, it’s, Auburn Manufacturing’s Leonard, “ we’ve, Julianna Keeling, Lou Pektor, “ We’ve, Jennifer Harris, bode Organizations: DC CNN, Maine Department of Economic, Community Development, Auburn Manufacturing, CNN, Auburn Manufacturing Inc, AP, Commerce Department, Fed, P Global, Institute for Supply Management, Alliance for American Manufacturing, PMI, ISM, Labor Department, Auburn, Manufacturers, Fed Companies, National Economic Council, National Security Council Locations: Washington, Maine, Portland, Auburn , Maine, United States, Pointe, Lehigh

☆ America’s new China curbs eschew scale for smarts
▼ + stars: | 2023-08-10 | by ( Ben Winck | ) www.reuters.com time to read: +4 min

The White House on Wednesday took the wraps off its proposal for screening investments U.S.-based funds make abroad, giving President Joe Biden a new tool for “de-risking” from China. But while the government’s inbound-investment reviews have often proven onerous, the pitch for outbound screening should placate investors and even diplomats. If recipients boast close ties to Chinese military or intelligence capabilities, the department could then block the transaction. Follow @BenWinck on TwitterCONTEXT NEWSU.S. President Joe Biden on Aug. 9 issued an executive order that tasks the Treasury Department with forming an outbound investment screening program. In response to the executive order the Treasury Department issued an Advanced Notice of Proposed Rulemaking seeking comment on the program.

Persons: Joe Biden, Jonathan Ernst, Janet Yellen’s, Antony Currie, Katrina Hamlin Organizations: Auburn Manufacturing, REUTERS, Reuters, Washington, Wednesday, Biden, Regulators, Treasury, Department, Treasury Department, Thomson Locations: U.S, Auburn , Maine, WASHINGTON, China, Washington

☆ Biden revs up economy pitch after week of silence on Trump
▼ + stars: | 2023-08-07 | by ( Jarrett Renshaw | ) www.reuters.com time to read: +3 min

About half the respondents who voted for Biden in 2020 said they have heard little or nothing of his major policy initiatives to reduce inflation or boost spending on infrastructure. Biden and fellow Democrats pushed bills through Congress that put about $1.5 trillion toward new bridge, road, climate and manufacturing projects. Democratic strategist Jennifer Holdsworth said this week's trip would counter a message spread by the nation's right-wing media distorting the economy and Biden's legislative agenda. "As President Biden gets out there on the campaign trail, I think you'll see that trend start to change," she said. On Wednesday, Biden will be in New Mexico to tout the IRA's role in a clean-energy manufacturing boom, one year after the law was signed.

Persons: Joe Biden, Jonathan Ernst, Donald Trump, Biden, Jennifer Holdsworth, Kamala Harris, Jarrett Renshaw, Heather Timmons, Leslie Adler Organizations: Auburn Manufacturing, REUTERS, Republican, Reuters, Democratic, White House, Wednesday, Thomson Locations: U.S, Auburn , Maine, WILMINGTON, Del, Arizona , New Mexico and Utah, Delaware, Arizona, New Mexico, Utah

☆ Biden order curbing investment to China expected next week-sources
▼ + stars: | 2023-08-04 | by ( Karen Freifeld | ) www.reuters.com time to read: +3 min

REUTERS/Jonathan Ernst/File PhotoAug 4 (Reuters) - President Joe Biden is expected to issue his long-awaited executive order to screen outbound investments in sensitive technologies to China early next week, according to people familiar with the matter. The order is expected to target U.S. private equity, venture capital and joint venture investments in China in semiconductors, quantum computing and artificial intelligence. Most investments captured by the order will require that the government be notified about them. The regulations are not expected to take effect right away and the administration will solicit comment on its proposals, according to sources. Sources have told Reuters the investments that will be restricted are expected to track export control rules for China issued by the U.S. Department of Commerce in October.

Persons: Joe Biden, Jonathan Ernst, Cordell Hull, Janet Yellen's, Laura Black, Emily Kilcrease, Karen Freifeld, Anna Driver Organizations: Auburn Manufacturing, REUTERS, U.S . Commerce Department, U.S, Foreign Investment, Reuters, U.S . Department of Commerce, Thomson Locations: U.S, Auburn , Maine, China, Yellen, United States

Six percent of Biden's 2020 voters picked Trump. Forty-two percent of Biden's 2020 voters in the poll said the economy was "worse" than it was in 2020, compared to 33% who said it was "better" and 24% who said it was "about the same." Most of Biden's 2020 voters in the poll - 78% - said they approved of his performance as president, well above his 40% approval rating among all respondents. But a critical division exists among Biden's 2020 voters. When poll respondents were asked to describe how much Biden and his administration have invested in the U.S. economy, 35% of Biden's 2020 voters selected the option "not enough."

Persons: Joe Biden, Jonathan Ernst, Biden, Donald Trump, Chris Jackson, Jackson, Jason Lange, Andrea Shalal, Scott Malone, Conor Humphries Organizations: Auburn Manufacturing, REUTERS, U.S, Reuters, Republican, Biden, Trump, Democratic, White, Thomson Locations: U.S, Auburn , Maine, Arizona, New Mexico, Utah

The White House has said Biden was never in business with his son. "Republicans may have to find something else to criticize me for now that inflation is coming down. "Workers who have been left behind for decades aren't just finding jobs, more jobs, they're finding better jobs, with higher pay," Biden said. Biden detailed decades of job loss in Maine, as the state's historical industries, including textiles and paper, shut factories for lower-cost destinations. Several Democratic members of the U.S. House of Representatives met at the White House on Friday to discuss implementing the $1 trillion infrastructure bill that Biden has signed into law.

Persons: Joe Biden, Kevin McCarthy, Biden, Hunter Biden, David Weiss of, Jonathan Ernst Biden's, Donald Trump, Ronald Reagan, Steny Hoyer, Jarrett Renshaw, Trevor Hunnicutt, Steve Holland, Leslie Adler, Heather Timmons, Deepa Babington Organizations: Republican, Republicans, U.S, Trump, White, Workers, Auburn Manufacturing Inc, FOCUS, Auburn Manufacturing, REUTERS, Federal Reserve, Auburn, Democratic, U.S . House, Thomson Locations: AUBURN, Maine, Washington, David Weiss of Delaware, U.S, Auburn , Maine, Auburn, Maine’s, New England

☆ Biden says a deal may be on the way with Saudi Arabia
▼ + stars: | 2023-07-28 | by ( ) www.cnbc.com time to read: 1 min

U.S. President Joe Biden attends a press conference to deliver remarks on the economy at Auburn Manufacturing, a company that produces heat- and fire-resistant fabrics for a range of industrial uses in the U.S. and abroad, in Auburn, Maine, U.S. July 28, 2023. U.S. President Joe Biden said on Friday a deal may be on the way with Saudi Arabia. Biden, who was speaking at campaign fundraiser in Maine, did not give details about the possible deal. On Thursday, the New York Times published a column by Thomas Friedman in which he said Biden was considering whether to pursue a U.S.-Saudi mutual security pact that would involve Saudi Arabia normalizing relations with Israel.

Persons: Joe Biden, Biden, Thomas Friedman Organizations: Auburn Manufacturing, New York Times Locations: U.S, Auburn , Maine, Saudi Arabia, Maine, Saudi, Israel

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