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CNN —The Biden administration on Tuesday began the early stages of a process to move ahead with a new $1 billion arms deal for Israel, according to two congressional sources. There is no set timeline for when Congress would officially be notified of the sale, setting into motion a clock for its approval. The Wall Street Journal was first to report on the administration’s discussions with Congress about this sale. “We are continuing to send military assistance, and we will ensure that Israel receives the full amount provided in the supplemental. We have paused a shipment of 2,000-pound bombs because we do not believe they should be dropped in densely populated cities.
Persons: CNN —, Biden, Jake Sullivan Organizations: CNN, Tuesday, State Department, House Foreign Affairs, Foreign, Congress, Pentagon Locations: Israel, Rafah, Israel imminently
U.S. President Joe Biden meets Chinese President Xi Jinping on the sidelines of the G-20 leaders' summit in Bali, Indonesia, on Nov. 14, 2022. The Biden administration announced stiff new tariff rates Tuesday on $18 billion worth of Chinese imports. Starting this year, President Joe Biden will quadruple tariffs on imported Chinese electric vehicles, from 25% to 100%. And tariffs on some Chinese steel and aluminum imports will increase more than three-fold, from 7.5% today up to 25%. First-time tariffs will be imposed on Chinese imports of medical needles and syringes, as well as massive ship-to-shore cranes, the White House said in a fact sheet.
Persons: Joe Biden, Xi Jinping, Biden, Katherine Tai Organizations: . Trade Locations: Bali , Indonesia, China
The restrictions build on Trump-era measures, and many are likely to appeal to voters in battleground states ahead of the election. But it’s less clear if they are enough to rebuild America’s industrial base in a global race with China to lead in the new economy. The new duties will apply to about $18 billion of annual Chinese imports, the Biden administration said. Biden is at pains to say that he’s being smarter than Trump on China. Trump imposed sweeping trade barriers and has vowed to impose more if he’s re-elected.
Persons: Biden, Donald Trump, Trump, he’s Organizations: China, Trump Locations: China, American, U.S
Big US airlines are suing over a rule that requires upfront fee disclosures. The Biden administration is fighting "junk fees" across industries, including baggage fees. AdvertisementMajor US airlines sued the Department of Transportation on Friday over a rule that requires upfront fee disclosures for costs like baggage and itinerary changes. The Biden administration has made fighting the hidden costs it calls "junk fees" a priority across industries, from banks to event companies. The rule also requires airlines to inform passengers that they do not need to purchase a specific seat to travel and to include all mandatory fees when advertising fares.
Persons: Biden, Organizations: Big, Service, Department of Transportation, Business
US Treasury Secretary Janet Yellen delivers remarks at the Treasury Department's Committee on Foreign Investment in the United States conference at the Treasury Department in Washington, DC, on September 14, 2023. U.S. President Joe Biden issued an order on Monday forcing a Chinese-backed cryptocurrency mining company to sell land near a Wyoming nuclear missile base, citing national security concerns. The company, MineOne, acquired the real estate in June 2022, placing its operations within a mile of the Francis E. Warren Air Force Base, a "strategic missile base and key element of America's nuclear triad," according to the White House. The company's site contained "specialized and foreign-sourced equipment potentially capable of facilitating surveillance and espionage activities," the presidential order said. MineOne was ordered to divest from the land in the next 120 days, and to remove certain improvements and equipment at the property.
Persons: Janet Yellen, Joe Biden, Francis E, Biden, MineOne Organizations: Treasury, Foreign Investment, United States, Treasury Department, Warren Air Force Base, British Virgin Islands Locations: Washington ,, Wyoming, British, United States, U.S
His signature legislative achievement, the Inflation Reduction Act — which is actually mainly about fighting climate change — contains several nationalistic provisions designed to limit subsidies primarily to manufactured goods produced in North America. And the Biden administration is now imposing tariffs as high as 100 percent on Chinese exports of electric vehicles and taxes on other imported goods, including semiconductors and batteries. The immediate impact of these tariffs will be small, because the United States currently imports very few of the affected goods from China. They’re a shot across the bow — a signal that the United States won’t accept a second so-called China shock, a surge of imports that could undermine crucial parts of the administration’s agenda. China’s exports of manufactured goods to the United States surged beginning in the 1990s.
Persons: Donald Trump, Biden, weren’t Locations: U.S, North America, United States, China, United
Ready-to-ship canisters filled with enriched uranium at the Urenco USA uranium enrichment facility near Eunice, New Mexico, US, on Tuesday, July 11, 2023. Russia's invasion of Ukraine is forcing the US and Europe to search for alternative sources of enriched uranium to power their reactors. The United States will ban imported Russian uranium starting on Aug. 11, the U.S. Department of Energy announced Tuesday. "Our nation's clean energy future will not rely on Russian imports," U.S. Energy Secretary Jennifer Granholm said in a statement. "Banning imports of Russian uranium will jumpstart America's nuclear fuel industry, further defund Russia's war machine, and help revive American uranium production for decades to come," Barrasso said in a statement on Monday after the bill's enactment.
Persons: Joe Biden, Jennifer Granholm, Sen, John Barrasso, Barrasso, Anatoly Antonov, Biden, Organizations: U.S . Department of Energy, Department of Energy, U.S, Exchange, Uranium, Uranium Miners, U.S . Energy, U.S ., Energy, Natural Resources Locations: Eunice , New Mexico, Russia's, Ukraine, Europe, United States, Russia, U.S
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBiden administration to increase tariffs on $18 billion of imports from ChinaBiden administration is raising tariffs on $18 billion worth of Chinese imports.
Persons: China Biden Locations: China
Just 18 months ago, White House and Pentagon officials debated whether Russia’s forces in Ukraine might collapse and be pushed out of the country entirely. Now, after months of slow Russian ground advances and technological leaps in countering American-provided arms, the Biden administration is increasingly concerned that President Vladimir V. Putin is gathering enough momentum to change the trajectory of the war, and perhaps reverse his once-bleak prospects. In recent days, Moscow’s troops have opened a new push near the country’s second-biggest city, Kharkiv, forcing Ukraine to divert its already thinned-out troops to defend an area that it took back from Russian forces in a stunning victory in the fall of 2022. Artillery and drones provided by the United States and NATO have been taken out by Russian electronic warfare techniques, which came to the battlefield late but have proven surprisingly effective. And a monthslong debate in Washington about whether to send Ukraine a $61 billion package of arms and ammunition created an opening that Russia has clearly exploited, even though Congress ultimately passed the legislation.
Persons: Biden, Vladimir V, Putin Organizations: Pentagon, Artillery, NATO Locations: House, Ukraine, Kharkiv, United States, Washington, Russia
Taipei/London CNN —Beijing says it will take “all necessary actions” to protect its rights as US President Joe Biden announced huge tariffs on imports of electric vehicles and other goods from China. “China opposes the unilateral imposition of tariffs which violate (World Trade Organization) rules, and will take all necessary actions to protect its legitimate rights,” Chinese foreign ministry spokesperson Wang Wenbin told reporters Tuesday in a regular press briefing shortly before the widely anticipated White House announcement. In addition to Chinese EVs, the increase in US tariffs will apply to imports of steel and aluminum, legacy semiconductors, battery components, critical minerals, solar cells, cranes and medical products. The new tariff for solar components will be 50%, while the remainder of the targeted imports will attract tariffs of 25%. Leaders from the Group of Seven developed economies will discuss how to protect their industries at a summit next month.
Persons: London CNN —, Joe Biden, Wang Wenbin, Biden, Wang, , ” Wang Organizations: London CNN, Trade Organization, European Locations: Taipei, London, London CNN — Beijing, China, United States, Europe, Beijing
The U.S. Department of Education announced Tuesday the interest rates on federal student loans for the 2024-2025 academic year. The interest rate on federal direct undergraduate loans will be 6.53%. For graduate students, loans will come with an 8.08% interest rate, compared with the current 7.05%. Plus loans for graduate students and parents will have a 9.08% interest rate, an increase from 8.05% now. The rise in interest rates could complicate the Biden administration's efforts to get the student loan crisis under control and relieve borrowers of the pain of interest accrual, experts say.
Persons: Mark Kantrowitz, Kantrowitz Organizations: US Department of Education, Washington , D.C, U.S . Department of Education, Biden Locations: Washington ,
The Biden administration has told Congress that it intends to move forward with a plan for the United States to sell more than $1 billion in new weapons to Israel, according to three congressional aides familiar with the deal. The notification of the sale, which would include new tactical vehicles and ammunition, comes as President Biden has withheld a shipment of bombs to Israel, hoping to prevent U.S.-made weapons from being used in a potential invasion of the southern Gaza city of Rafah. The potential arms transfer illustrated the narrow path the Biden administration is walking with Israel, trying to prevent an assault on Rafah and limit civilian casualties in Gaza but continuing to supply a longtime ally that the president has said has a right to defend itself. One congressional aide said Congress had been aware of the arms deal for months, and suggested that the administration had simply waited for a foreign aid package with more aid for Israel to pass before moving forward with the required congressional notification process. When asked about the package, which was reported earlier by The Wall Street Journal, the State Department referred to recent comments from Jake Sullivan, the White House national security adviser, citing a continued commitment to supply Israel with military assistance to defend itself from threats in the region.
Persons: Biden, Jake Sullivan Organizations: Wall Street Journal, State Department, White House Locations: United States, Israel, Gaza, Rafah
New York CNN —If voters return former President Donald Trump to the White House, he’s promised to launch an unprecedented crackdown on immigration and even conduct mass deportations. Trump recently told Time that he would aim to deport 15 million to 20 million people, perhaps by using the National Guard. Even though consumer prices are no longer skyrocketing, the cumulative impact of three years of high inflation is painful. “Most Americans view high inflation and high prices as unfair. But immigration remains a major concern for voters in the 2024 election and Trump has made it a centerpiece of his campaign.
Persons: Donald Trump, he’s, Trump, , Mark Zandi, “ It’s, Joe Brusuelas, ” Brusuelas, You’d, , Karoline Leavitt, Joe Biden “, ” Leavitt, , Joe Biden, Zandi, Trump’s, criminologists, Biden, Jerome Powell, Brusuelas, Goldman Sachs, ” Goldman Sachs, Wendy Edelberg, Edelberg, that’s Organizations: New, New York CNN, White, National Guard, Federal Reserve, CNN, RSM, Trump, Social Security, University of Michigan, Labor Department ., The Hamilton, , Hamilton, Security, Congressional, Office, The Hamilton Project, Brookings Institution Locations: New York, China, Covid, Mexico, United States
That's due, in part, to new American tariffs on China-made EVs, Tavares said, citing among other reasons as well. The Biden administration on Tuesday announced stiff new tariff rates on billions' worth of Chinese imports, including quadrupling tariffs on imported Chinese electric vehicles, from 25% to 100%. The joint venture's expansion plans include at least six EVs by 2027, according to a presentation by Stellantis and Leapmotor. The announcement comes amid increasing geopolitical tensions surrounding China-made electric vehicles in the U.S., Europe and other regions. Many in and around the automotive industry fear the less-expensive, China-made vehicles will flood the markets, undercutting domestic-produced EVs.
Persons: Carlos Tavares, Zhu Jiangming, EVs, Tavares, Biden, " Tavares, Stellantis Organizations: Stellantis, Leapmotor, Europe —, Asia Pacific Locations: China, Europe, Europe — France, Italy, Germany, Netherlands, Spain, Portugal, Belgium, Greece, Romania, East, Africa, India, Asia, South America, U.S, Hangzhou
CNN —The US Justice Department on Tuesday notified Boeing that it breached terms of its 2021 agreement in which the company avoided criminal charges for two fatal 737 Max crashes. The notification comes as the Justice Department conducts a new investigation into Boeing’s operations in the wake the door plug incident. The earlier deal had resolved a fraud investigation related to the company’s development of its 737 Max aircraft. Under its deferred prosecution agreement from January 2021, Boeing paid $2.5 billion in penalties and promised to improve its safety and compliance protocols. In March, the FAA identified more potential safety issues with the engines of the 737 Max and 787 Dreamliner.
Persons: Max, , Reed O’Connor, Biden, Paul Cassell, ” Cassell, Organizations: CNN, US Justice Department, Boeing, Alaska Airlines, Department of Justice, Justice Department, Max, Lion, Justice, Air Force, Transportation Safety Board, Federal Aviation Administration, FAA Locations: United States, Fort Worth , Texas
Washington CNN —President Joe Biden is increasing tariffs on $18 billion in Chinese imports across a handful of sectors deemed strategic to national security – an attempt to cripple Beijing’s development of critical technologies and instead prioritize US production. The increases will apply to imported steel and aluminum, legacy semiconductors, electric vehicles, battery components, critical minerals, solar cells, cranes and medical products. That same trade law also requires the effectiveness of such tariff programs to be evaluated every four years, and the Biden administration decision is the result of that study. “China can’t be the only country that produces clean technology for the world we need,” a senior administration official said. The Chinese government, Biden argued, is providing state money to Chinese steel companies to make more steel than the economy demands, pushing down the price and making it impossible for other companies to compete.
Persons: Joe Biden, , , Lael Brainard, “ China’s, Donald Trump, Biden, Wang Wenbin, Trump, Janet Yellen, Antony Blinken, “ They’re, ” Biden, Sam Fossum Organizations: Washington CNN, White, National Economic Council, CNN, Biden, Trade Organization, Brookings Institute, United Steelworkers, Trump, China’s Ministry, Commerce Locations: China, Beijing, Europe, Brazil, Turkey, Pittsburgh, Midwest
The US is strengthening its 5G infrastructure, according to a National Security Council official. She said the US must improve its telecom infrastructure. This article is part of "5G and Connectivity Playbook," a series exploring some of our time's most important tech innovations. The US is bolstering its 5G infrastructure in the age of AI. Anne Neuberger, the deputy national security advisor for cyber and emerging tech, said that 5G and 6G were some of "the most strategic sectors," especially since telecom and data-center infrastructure houses the data required to train artificial-intelligence models.
Persons: , Anne Neuberger, Niloofar Razi Howe, Neuberger, It's Organizations: National Security Council, Service, Conference, Capitol Meridian Partners, Huawei, Telecom, Biden, Wireless, Chain Innovation, White House, Strategy Locations: San Francisco, China, India, Japan, Europe, Ukraine, Russia
U.S. Trade Representative Katherine Tai on raising China tariffs
  + stars: | 2024-05-14 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailU.S. Trade Representative Katherine Tai on raising China tariffsU.S. Trade Representative Katherine Tai joins CNBC's 'Squawk Box' to discuss why the Biden administration announced new tariff rates on Chinese imports.
Persons: Katherine Tai Organizations: U.S, Trade, Biden
Read previewUS government officials are skeptical Israel can actually achieve its goals and completely eliminate Hamas in Gaza. He argued that "we have to achieve victory and that means that we have to destroy all these battalions, which we will." The current US view of what victory looks like in this war appears different than that of Israel. "With the question of a strategic endgame, I don't think that's really a question about American influence," he said. "That's a question about Israel's strategy and what Israel chooses to do."
Persons: , Kurt Campbell, Phil McGraw, Phil, Benjamin Netanyahu, Netanyahu, hasn't, Joe Biden, Biden, Khan Younis, State Anthony Blinken, CBS's Margaret Brennan, Blinken, Jake Sullivan, Israel Organizations: Service, CNN, NATO Youth, Business, Israeli, Republican, State, National Locations: Israel, Gaza, Rafah, I'm
CNN —A county redistricting plan in Texas that a Donald Trump-appointed judge deemed “a clear violation” of the Voting Rights Act is back before a notoriously conservative appeals court. After the 2021 Census, the Republican-led county commission broke up that district, locking in four majority-white districts instead. Their opponents argue that Congress did not intend for multiple “classes” of minorities to be considered together when assessing a map’s Voting Rights Act compliance. Black and Latino voices ‘extinguished,’ judge saysThe 2021 map split up the long-established Precinct 3, spreading those minority voters across the four total commission precincts. “It would be devastating for minority voters as devastating as it was for Galveston’s Black and Latino voters.”
Persons: Donald Trump, Biden, Jeffrey Vincent Brown, , , Valencia Richardson, Christian Adams, , ” Brown, Brown, Mark Henry –, Henry, Robin Armstrong, Armstrong, Adams, Circuit “, Elena Kagan, , ” Chad Ennis –, ” Ennis, Hilary Harris Klein Organizations: CNN, Republican, 5th, Campaign, , Senate, Justice Department, Galveston Republicans, Interest Legal Foundation, Circuit, Southern Coalition for Social Justice Locations: Texas, Galveston’s County, Galveston County, White, Galveston, Louisiana, Mississippi,
"One, you have to have a clear, credible plan to protect civilians, which we haven't seen. Second, we also need to see a plan for what happens after this conflict in Gaza is over, and we still haven't seen that." The Israel-Hamas war has killed more than 34,000 people in Gaza, according to Palestinian health authorities in the besieged enclave. We're seeing parts of Gaza that Israel has cleared of Hamas where Hamas is coming back, including in the north, including in Khan Younis," Blinken said. Smoke rises after Israeli airstrikes in eastern Rafah, Gaza on May 07, 2024.
Persons: Antony Blinken, Mike Herzog, Evelyn Hockstein, Blinken, Biden, Joe Biden, Ashraf Amra, Benjamin Netanyahu, Khan Younis, Abed Rahim Khatib, We've Organizations: Ben, Reuters U.S, CBS, Israel, Administration, Anadolu, Getty, Hamas, State Department, NBC Locations: U.S, Ben Gurion, Tel Aviv, Israel, Gaza, Rafah, Deir, Balah, Palestinian, America, Egypt
Aerial view of United Airlines passenger planes docked in a terminal of Newark Airport in Newark, New Jersey, on May 11, 2024. Major airlines and an industry trade association asked a federal appeals court to toss out a new Department of Transportation rule requiring earlier disclosure of add-on fees during flight booking. The Biden administration introduced the airline fee disclosure rule in September 2022. Airlines for America said in a statement to CNBC on Monday that the rule will "confuse consumers" and "complicate the buying process." "Airlines already provide consumers with complete disclosure of all fees associated with air travel before they purchase a ticket," the group said in the statement.
Persons: Biden, Joe Biden Organizations: United Airlines, Newark Airport, of Transportation, Airlines for America, JetBlue, United, , Fifth, Airlines, America, CNBC Locations: Newark, Newark , New Jersey, Alaska, American, Delta, U.S
Electric utilities from Georgia to Wisconsin to Virginia are predicting a dizzying surge in power demand from new industrial facilities, electric vehicles and, most of all, the data centers that store our digital photos and will enable large-language models for artificial intelligence. For months now, they have been signaling that they won’t be able to keep up. To keep the lights on, many utility companies are proposing to build dozens of new power plants that burn natural gas. North Carolina-based Duke Energy alone wants to add 8.9 gigawatts of new gas-fired capacity — more than the entire country added in 2023. But to get there, legislators will need to overhaul the incentives driving utilities to double down on natural gas, so that they can turn a profit without cooking the planet.
Persons: Biden Organizations: Duke Energy Locations: Georgia, Wisconsin, Virginia, North Carolina
If Israel were to proceed with a major ground operation into Rafah, it would be going against months of warnings from the US to forego a full-scale offensive into the densely populated city. Going “headlong into Rafah” could have dire consequences, Secretary of State Antony Blinken warned on Sunday. “They couldn’t launch an attack of that scale today.”“Their weapons production factories underground have been eliminated. However, the Biden administration has been ramping up the pressure on Israel to start focusing much more in earnest on post-war Gaza plans – so far, to little effect. Blinken publicly called on Israel to engage more seriously on developing a plan for post-war Gaza over the weekend.
Persons: CNN —, Biden, Joe Biden, CNN’s Erin Burnett, Jake Sullivan, Kurt Campbell, ” Campbell, Benjamin Netanyahu’s, , Antony Blinken, “ Israel’s, ” Blinken, Israel, Matt Miller, , Yahya Sinwar, Blinken, “ We’ve Organizations: CNN, Israel, White, State, NATO Youth Summit, Aspen Institute, Press, Hamas, CBS Locations: Rafah, Gaza, Israel
Related stories"Why is it OK for America to drop two nuclear bombs on Hiroshima and Nagasaki to end their existential threat war?" Welker challenged Graham by saying that military officials attest to weapons technology now being more precise and able to reduce civilian casualties. It's not the first time Graham has referenced Nagasaki and Hiroshima to advocate for the flow of munitions to Tel Aviv. Congress voted through a $15 billion military aid package for Israel in April, which includes about $5 billion to replenish weapons stocks. A representative for Graham did not immediately respond to a request for comment sent outside regular business hours by Business Insider.
Persons: , Sen, Lindsey Graham of, NBC's Kristen Welker, Graham, Joe Biden, Welker, Welker's, It's, Israel, Biden Organizations: Service, Sunday, Business, Pearl, Republicans, Israel Locations: Lindsey Graham of South Carolina, Israel, Gaza, Japan, Germany, Hiroshima, Nagasaki, Rafah, America, Tel Aviv
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