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The sanctions represent a broadening of U.S. efforts to disrupt Russia’s military industrial complex supply chain. The Biden administration has expressed growing alarm about the weapons technology alliance between China and Russia. The sanctions follow Ms. Yellen’s trip last month to China, where she confronted Chinese officials over support for Russia. She warned them that Chinese companies and financial institutions that facilitate support for the Kremlin’s war effort would face penalties. The Treasury secretary said her counterparts told her that China had a policy of not providing Russia with military aid.
Persons: Biden, , Janet L, Yellen, Yellen’s Organizations: Wednesday, Top U.S, Russia Locations: Russia, Ukraine, China, United States
The battle lines of the next big tax fight were laid out on Tuesday as Treasury Secretary Janet L. Yellen sparred with Republicans over the Biden administration’s plans to raise taxes on businesses and wealthy Americans. In recent weeks, Republicans have been amplifying their attacks on President Biden’s tax proposals, which have become central to the president’s re-election message. Many provisions in the $1.7 trillion tax cut that Republican lawmakers and former President Donald J. Trump enacted in 2017 are set to expire in 2025, including lower tax rates for individuals as well as many tax breaks for corporations. Renewing all of the tax measures for another decade would cost about $3 trillion, according to the Joint Committee on Taxation. Republicans have begun warning that Mr. Biden plans to allow all of the tax cuts to expire, effectively raising taxes on businesses and families at a moment when inflation is pinching consumers.
Persons: Janet L, sparred, Biden’s, Donald J, Trump, Biden Organizations: Biden, Republican, Taxation, Republicans
The tariffs Mr. Biden will propose raising on Wednesday were initially imposed by Mr. Trump when he was president. Mr. Biden’s stop in Pittsburgh is part of a three-day swing through Pennsylvania, a crucial battleground state that he narrowly won in 2020 and has visited more than any other. The president’s campaign is hoping to mobilize support from organized labor, a traditionally Democratic constituency from which Mr. Trump has pulled some support. On Tuesday, Mr. Biden spoke at the local union of the United Brotherhood of Carpenters and Joiners in Scranton, Pa., his hometown. “Donald Trump looks at the world differently than you and me,” Mr. Biden said in a speech that signaled his campaign’s intention to make the 2024 election a referendum on Mr. Trump.
Persons: Biden, Katherine Tai, Mr, ” Lael Brainard, Janet L, Yellen, , Lloyd J, Austin III, Biden’s, Donald J, ” Mr, Trump, “ Donald Trump, ” Alan Rappeport, Michael D, Shear Organizations: United Steelworkers Union, U.S, Economic Council, International Monetary Fund, Trump, CNBC, Mr, Democratic, United Brotherhood of Carpenters Locations: China, Pittsburgh, U.S, Mexico, America, Beijing, United States, Biden’s, Japan, Philippines, South China, Pennsylvania, Joiners, Scranton, Pa, Mar
Why Germany Can’t Break Up With China
  + stars: | 2024-04-16 | by ( Melissa Eddy | ) www.nytimes.com   time to read: +1 min
When Germany’s chancellor, Olaf Scholz, took office in 2021, he pledged that his government would shift his country’s relationship with China away from one of economic dependence. Three years later, talk of scaling back reliance on China has been replaced with calls for equal access to China’s market for foreign firms. The U.S. Treasury secretary, Janet L. Yellen, has talked about imposing trade restrictions on China. The chief executives of several leading multinational companies based in Germany joined Mr. Scholz on his three-day tour of China, which included a meeting with Xi Jinping, China’s top leader, in Beijing on Tuesday. All of the company leaders oversee large operations in China that they are eager not only to maintain, but in many cases to expand.
Persons: Olaf Scholz, Janet L, Scholz, Xi Jinping Organizations: Treasury, Mr Locations: China, United States, U.S, Germany, Beijing
President Biden has intensified efforts to shield American industries from foreign competition in an election year, as he courts blue-collar workers and attempts to avoid being outflanked on trade by his Republican rival, former President Donald J. Trump. The moves have strained Mr. Biden’s relationships with international allies and rivals alike, drawing charges of protectionism from diplomats and some economists, including top Chinese officials during Treasury Secretary Janet L. Yellen’s recent trip to Beijing. But the measures have cheered labor unions, environmental groups and other key members of Mr. Biden’s political support base, particularly in the swing states of the industrial Midwest. Mr. Biden and his administration have recently signaled they are preparing new tariffs and other measures to block cheap electric vehicles and other clean-energy imports from China. Those efforts, combined with new limits on American investment in China, restrictions on exports of advanced technology and subsidies for the U.S. semiconductor industry, fueled major tensions during Ms. Yellen’s visit.
Persons: Biden, Donald J, Trump, Janet L, Yellen’s Organizations: Republican, Mr Locations: Beijing, China, U.S
China’s top leader, Xi Jinping, and Russia’s foreign minister, Sergey V. Lavrov, met in Beijing on Tuesday, in a session seen as laying the groundwork for an expected visit to China by President Vladimir V. Putin of Russia and pushing back against mounting pressure from the United States and its allies. Mr. Lavrov’s visit came just days after Treasury Secretary Janet L. Yellen warned of “significant consequences” if Chinese companies provided material support for Russia’s war in Ukraine. It also took place as President Biden was set to host the leaders of Japan and the Philippines on Wednesday to boost economic and security ties to counter China’s growing assertiveness in Asia. Earlier in the day, Mr. Lavrov met with his Chinese counterpart, Wang Yi, and said the two sides had talked about deepening security ties to resist the West's “anti-Chinese” and “anti-Russian orientation.” In a sign of the Kremlin’s continued deference to China, Mr. Lavrov reaffirmed Russia’s rejection of any “outside interference” over Beijing’s claims to the de facto independent island of Taiwan. “There is no place for dictatorships, hegemony, neocolonial and colonial practices, which are now being widely used by the United States and the rest of the ‘collective West,’” Mr. Lavrov said.
Persons: Xi Jinping, Sergey V, Lavrov, Vladimir V, Putin, Lavrov’s, Janet L, Yellen, Biden, Wang Yi, , Mr Locations: Beijing, China, Russia, United States, Ukraine, Japan, Philippines, Asia, Taiwan
Four days of top-level economic meetings between the United States and China concluded in Beijing on Monday with no major breakthrough, but the world’s two largest economies agreed to hold more discussions to address rising friction over trade, investment and national security. The conversation is poised to become even more difficult, however, as hopes of greater economic cooperation collide with a harsh political reality: It is an election year in the United States, and antipathy toward China is running high. At the same time, Chinese officials appeared unmoved by Treasury Secretary Janet L. Yellen’s urging that China scale back its recent surge of green energy technology exports, which could threaten American jobs. “There is much more work to do,” Ms. Yellen said at a news conference in Beijing on Monday. “And it remains unclear what this relationship will endure in the months and years ahead.”
Persons: Janet L, Ms, Yellen, Locations: United States, China, Beijing
Treasury Secretary Janet L. Yellen confronted her Chinese counterpart about China’s surging exports of inexpensive electric vehicles and other green energy goods, saying that they were a threat to American jobs and urging Beijing to scale back its industrial strategy, the U.S. government has said. Ms. Yellen also warned her counterpart, Vice Premier He Lifeng, that Chinese companies could face “significant consequences” if they provided material support for Russia’s war on Ukraine, according to a Treasury Department summary released on Saturday of two days of talks in the southern city of Guangzhou. The meetings on Friday and Saturday were an effort by the world’s two largest economies to address trade and geopolitical disputes as the countries try to steady a relationship that hit a low last year. The U.S. and China agreed to hold additional talks in the future about curbing international money laundering and fostering “balanced growth.” The latter is aimed partly at addressing concerns that China’s focus on factory production to bolster its sputtering economy has resulted in a glut of exports that is distorting global markets.
Persons: Janet L, Yellen Organizations: Department Locations: Beijing, U.S, Ukraine, Guangzhou, China
After three hours of meetings on Friday, Treasury Secretary Janet L. Yellen and Vice Premier He Lifeng of China sat down for a working dinner at the White Swan Hotel in Guangzhou, China. The evening activity was intended to give the pair, the top economic officials from the United States and China, an opportunity to go beyond talking points and build trust. The message represented a challenging test of economic diplomacy for Ms. Yellen. She wants China to dial back its industrial policy just as the United States is ramping up its own with trillions of dollars of subsidies for domestic clean energy industries. The new push against China’s exports threatens to inflame trade tensions between the world’s largest economies just as they have been working to stabilize relations.
Persons: Janet L, Yellen, Biden Organizations: Hotel Locations: China, Guangzhou, United States
The United States and China created formal economic working groups to keep the conversation going. Months later, Ms. Yellen met with her Chinese counterparts in San Francisco and Morocco. But despite those signs of progress, thorny economic issues continue to divide China and the United States. “We don’t want to decouple our economies,” Ms. Yellen said on Wednesday during a stop in Alaska on her way to China. “We want to continue, and we think we both benefit from trade and investment, but it needs to be on a level playing field.”
Persons: Janet L, Yellen, Biden, Ms Locations: Beijing, United States, China, San Francisco, Morocco, Yunnan, Guangzhou, Alaska
Yellen to Visit China for Top-Level Economic Talks
  + stars: | 2024-04-02 | by ( Alan Rappeport | ) www.nytimes.com   time to read: +1 min
Treasury Secretary Janet L. Yellen will make her second trip to China this week for high-level talks aimed at further stabilizing the relationship between the world’s largest economies as political rancor in the United States intensifies ahead of the presidential election. During four days of meetings in Guangzhou and Beijing, Ms. Yellen plans to meet with representatives from American companies, Chinese students and professors and China’s top economic officials. The trip comes as the Biden administration tries to balance a tougher stance toward China, including restricting access to American technology and retaining tariffs on billions of Chinese exports, while keeping regular lines of communication open and avoiding an economic war. The Treasury Department announced the trip as President Biden and Xi Jinping, China’s leader, held a call on Tuesday on a variety of issues. A senior Treasury Department official who previewed Ms. Yellen’s trip said that it was taking place in the spirit of responsibly managing the economic relationship between the countries.
Persons: Janet L, Yellen, Biden, Xi, Mr, Yellen’s Organizations: Biden, Treasury Department Locations: China, United, Guangzhou, Beijing, United States
President Biden spoke with Xi Jinping, China’s leader, in a call on Tuesday morning that was aimed at addressing a wide range of combative and cooperative issues, as the United States grapples with wars and other global crises, according to a White House statement. The topics on Mr. Biden’s agenda included fighting narcotics production, the Middle East conflict and China’s support of Russia during the Ukraine war, a senior administration official said. But it was a crucial marker during a pivotal political year and as the countries try to steady a relationship that hit a multi-decade low last year. The call took place days ahead of a trip to China by Treasury Secretary Janet L. Yellen, who will be followed soon afterward by Secretary of State Antony J. Blinken, the official said. Those would be the first visits to China by cabinet members this year; both officials traveled to Beijing last year to stabilize relations after tempers flared during the Chinese spy balloon episode.
Persons: Biden, Xi Jinping, Janet L, Yellen, Antony J, Blinken Locations: United States, Russia, Ukraine, Washington, China, Beijing
The Biden administration is growing increasingly concerned that a glut of heavily subsidized green technology exports from China is distorting global markets and plans to confront Chinese officials about the problem during an upcoming round of economic talks in Beijing. The tension over industrial policy is flaring as the United States invests heavily in production of solar technology and electric vehicle batteries with funding from the Inflation Reduction Act of 2022, while China pumps money into its factory sector to help stimulate its sluggish economy. In a speech on Wednesday afternoon, Treasury Secretary Janet L. Yellen will lay out her plans to raise the issue of overcapacity with her Chinese counterparts. “China’s overcapacity distorts global prices and production patterns and hurts American firms and workers, as well as firms and workers around the world,” Ms. Yellen will say. “Challenges for individual firms can lead to concentrated supply chains, negatively impacting global economic resilience.”
Persons: Biden, Xi, Janet L, Yellen, , Ms Organizations: The New York Times Locations: China, Beijing, United States, Norcross , Ga
Divisions among the world’s top economic officials over how to use Russia’s central bank assets to support Ukraine spilled into public view on Wednesday when Bruno LeMaire, France’s finance minister, said that seizing the frozen assets would be a violation of international law. The comments, made on the sidelines of the gathering of finance ministers of the Group of 20 nations in Brazil, came a day after Treasury Secretary Janet L. Yellen said that seizing the assets was a possibility and suggested that there was a legal justification for doing so. Officials from the Group 7 advanced economies have been debating for months over whether they could legally seize more than $300 billion in Russian central bank assets stashed in Western nations and use those funds to aid Ukraine. Those discussions have taken on greater urgency amid waning political support in the United States and Europe to continue to provide Ukraine with economic and military support. Ms. Yellen, who initially had reservations about the viability of freezing or seizing Russia’s assets, offered her most explicit public support to date on Tuesday for the idea of unlocking “the value” of Russia’s immobilized assets.
Persons: Bruno LeMaire, Janet L, Yellen Locations: Ukraine, Brazil, Russian, United States, Europe
What if Mom’s Not to Blame?
  + stars: | 2024-02-27 | by ( Mark Harris | Keita Morimoto | ) www.nytimes.com   time to read: +3 min
The past year has brought an exceptionally varied and thematically rich crop of movies exploring men and their — to use the proper scientific term — mommy issues. By the end of most of them, blood is on the floor, and the collateral damage is steep. Men who couldn’t, or worse, didn’t want to, were portrayed as marionettes tied to and practically strangled by their mothers’ apron strings. “I’ve been talking to this psychiatrist about my mother for two years now,” his character says in “Pillow Talk” (1959), adding, “It’s perfectly healthy. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.
Persons: Beau, , who’s, Freud, Robert Walker’s simpering, mommy, Anthony Perkins, Norman Bates, Marion Crane, Janet Leigh, Tony Randall, Doris, “ I’ve Organizations: Hudson, The
Treasury Secretary Janet L. Yellen said on Tuesday that she had personally urged Prime Minister Benjamin Netanyahu of Israel to increase commercial engagement with the West Bank, contending that doing so was important for the economic welfare of both Israelis and Palestinians. Ms. Yellen’s plea was outlined in a letter that she sent to Mr. Netanyahu on Sunday. It represented her most explicit public expression of concern about the economic consequences of the war between Israel and Hamas. In the letter, Ms. Yellen said, she warned about the consequences of the erosion of basic services in the West Bank and called for Israel to reinstate work permits for Palestinians and reduce barriers to commerce within the West Bank. “These actions are vital for the economic well-being of Palestinians and Israelis alike,” Ms. Yellen said at a news conference in Brazil ahead of a gathering of finance ministers from the Group of 20 nations.
Persons: Janet L, Yellen, Benjamin Netanyahu, Israel, Yellen’s, Netanyahu, Ms Organizations: West Bank, Palestinian Authority, United Locations: Israel, Brazil, Gaza, Qatar, United State, Egypt
My family sometimes thinks we're spoiling our children, but that doesn't change how I parent. I’m a mom of three girls aged seven and under, and I feel confident in the way my husband and I parent. I don’t think I’m spoiling my children — I think I’m setting them up for long-term mental and emotional well-being. AdvertisementI have grace for the way my family has judged my parentingIt's common in our culture to prioritize productivity over well-being. I might not be parenting perfectly, but I’m parenting on purpose.
Persons: I've, I’m, I’ve, There’s, Janet Lansbury, RIE, I’d Organizations: Infant Educators
Treasury Secretary Janet L. Yellen will tell lawmakers on Tuesday that the United States has had a “historic” economic recovery from the pandemic but that regulators must vigilantly safeguard the financial system from an array of looming risks to preserve the gains of the last three years. Ms. Yellen will deliver the comments in testimony to the House Financial Services Committee nearly a year after the Biden administration and federal regulators took aggressive steps to stabilize the nation’s banking system following the abrupt failures of Silicon Valley Bank and Signature Bank. While turmoil in the banking system has largely subsided, the Financial Stability Oversight Council, which is headed by Ms. Yellen, has been reviewing how it tracks and responds to risks to financial stability. Like other government bodies, the council did not anticipate or warn regulators about the problems that felled several regional banks. “Our continued economic strength depends on a solid and resilient U.S. financial system,” Ms. Yellen said in her prepared remarks.
Persons: Janet L, Yellen, Biden, Ms Organizations: Financial Services, Valley Bank, Signature Bank Locations: United States,
Chita Rivera, who died on Tuesday at the age of 91, was known for her extraordinary artistry. Her Anita in the landmark 1957 Broadway production of “West Side Story”? Rose in the hit “Bye Bye Birdie,” from 1960? Only in 1969 did Rivera make her feature-film debut, in “Sweet Charity,” almost two decades after her Broadway debut. Thankfully, we have variety shows, TV specials and unofficial fan videos to help us patch together a compelling video portrait.
Persons: Chita Rivera, Anita, Rita Moreno, Rose, , Janet Leigh, Rivera Organizations: Broadway Locations:
The comments from Ms. Yellen came after new data released on Thursday bolstered that message: The United States economy grew at a healthy clip over the past year, surpassing 3 percent and defying expectations of a recession. Biden administration officials are trying to convince a skeptical public that, while they may feel pessimistic about the economy, its performance is delivering gains to average Americans. Officials are expected to spend the coming months highlighting the investments that Mr. Biden has directed toward infrastructure, domestic manufacturing and clean energy projects. In a speech at the Economic Club of Chicago, Ms. Yellen argued that the Biden administration had successfully navigated challenging headwinds caused by the pandemic and led a recovery that has outpaced those in the rest of the world. She also suggested that the Biden administration needed more time to tackle affordability issues, such as improving access to child care and housing.
Persons: Janet L, Yellen, Trump, Biden Organizations: Biden, White, Economic, of Chicago Locations: United States
"The situation is getting worse by the hour," Richard Peeperkorn, WHO representative in Gaza, told reporters via video link. "There's intensified bombing going on all around, including here in the southern areas, Khan Younis and even in Rafah." Thomas White, Director of Affairs at the U.N. Palestinian agency in Gaza, said a population of more than 600,000 had been ordered to move to escape bombardment. The WHO's Peeperkorn said the agency had complied with an Israeli order to remove supplies from warehouses in Khan Younis. Reporting by Emma Farge and Gabrielle Tétraut-Farber; Editing by Rachel More and Janet LawrenceOur Standards: The Thomson Reuters Trust Principles.
Persons: Fadi Shana, Khan Younis, Richard Peeperkorn, There's, Peeperkorn, Thomas White, White, James Elder, I've, Tedros Adhanom Ghebreyesus, Israel, Emma Farge, Gabrielle Tétraut, Farber, Rachel More, Janet Lawrence Organizations: Hamas, REUTERS, WHO, Health Organization, United Nations, UNICEF, Thomson Locations: Israel, Palestinian, Rafah, Gaza, GENEVA, ., Cairo, Khan
Pope says he has acute, infectious bronchitis
  + stars: | 2023-11-30 | by ( ) www.reuters.com   time to read: +1 min
Pope Francis leads the Angelus prayer from Santa Marta chapel at the Vatican, November 26, 2023. Vatican Media/­Handout via REUTERS/File Photo Acquire Licensing RightsVATICAN CITY, Nov 30 (Reuters) - Pope Francis on Thursday said he was suffering from a highly infectious and acute form of bronchitis that has prevented him from making the trip to Dubai this weekend for the COP28 climate summit. It is a very acute, infectious bronchitis," he said. During another audience on Thursday with theologians, the pope said: "Pray for me. Cardinal Secretary of State Pietro Parolin told reporters on Wednesday he expected to lead the Vatican's delegation at the climate talks in Dubai.
Persons: Pope Francis, Francis, didn't, Vatican, Pietro Parolin, Alvise Armellini, Janet Lawrence Organizations: Vatican, Handout, REUTERS, CITY, Thomson Locations: Santa Marta, Dubai
Pope Says He Has Acute, Infectious Bronchitis
  + stars: | 2023-11-30 | by ( Nov. | At A.M. | ) www.usnews.com   time to read: +1 min
VATICAN CITY (Reuters) - Pope Francis on Thursday said he was suffering from a highly infectious and acute form of bronchitis that has prevented him from making the trip to Dubai this weekend for the COP28 climate summit. It is a very acute, infectious bronchitis," he said. Francis said he had no fever but was on antibiotics, confirming what the Vatican said in a statement on Wednesday. During another audience on Thursday with theologians, the pope said: "Pray for me. Cardinal Secretary of State Pietro Parolin told reporters on Wednesday he expected to lead the Vatican's delegation at the climate talks in Dubai.
Persons: Pope Francis, Francis, didn't, Vatican, Pietro Parolin, Alvise Armellini, Janet Lawrence Organizations: VATICAN CITY Locations: Dubai
Unfortunately it takes us three to four hours to reach Khan Younis," said Najar, speaking on the back of the cart. The slower pace gives a clear view of a city scarred by war, with the white donkey trotting past one scene of destruction after another. The destruction in Khan Younis in the south is not as extreme as in Gaza City and other parts of northern Gaza that have borne the brunt of Israel's military campaign. Vowing to destroy Hamas, Israel launched an assault on Gaza that has killed more than 15,000 people, four in ten of them children, according to health officials there. "They didn't leave a tree or a stone," he said, appealing to God to bring the war to an end.
Persons: Bassam Masoud, Fadi Shana KHAN YOUNIS, Khan Younis, Mohammed al Najar, Estelle Shirbon, Janet Lawrence Organizations: Reuters, World Health Organization Locations: Gaza, Khan, Khuza'a, Gaza City, rampaged, Israel
Even during the ceasefire, they didn't find a solution to the water problem," said Rami al-Rizek, displaced with his family from their home in Gaza City. "The truce is the time to lift the rubble and search for all the missing people and bury them. What use is the truce if the bodies remain under the rubble?" Israel responded with aerial bombardment and a ground assault on Gaza, killing more than 15,000 people, around 40% of them children, according to Gazan health officials. Another Khan Younis resident, Ahmed al-Najjar, said of the truce: "Four days are not enough, and forty days are not enough, and four years will not be enough to get over the pain."
Persons: Khan Younis, Saleh Salem, KHAN YOUNIS, Rami al, Muath Hamdan, Maryam Abu Rjaileh, Abu Rjaileh, Yasser Abu Shamaleh, Abu Shamaleh, Israel, Ahmed al, Bassam Masoud, Fadi Shana, Mohammed Salem, Estelle Shirbon, Janet Lawrence Organizations: Hamas, REUTERS, Thomson Locations: Israel, Gaza, Khan, Gaza City, Egypt, rampaged
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