President Biden will address the American steel industry in Pittsburgh, advocating for a 7.5% tariff increase on Chinese steel and aluminum to protect domestic manufacturing. The move aligns with Bidens focus on investing in American manufacturing and countering Chinas industrial overcapacity, supported by National Economic Council director Lael Brainard and industry stakeholders.
President Biden visited his childhood home in Scranton, Pennsylvania, where he called for higher taxes on the wealthy and portrayed Donald Trump as out-of-touch. Biden aims to reframe the economic conversation, proposing a 25% minimum tax rate for billionaires and emphasizing the importance of investing in the country from Scranton values perspective.
President Biden and Chinese President Xi Jinping engaged in a contentious phone call discussing Taiwan, trade restrictions on technology, and Chinas support for Russia amid the war in Ukraine. Biden emphasized peace and stability across the Taiwan Strait, while Xi stressed Taiwan as a red line that must not be crossed. The leaders expressed heated disagreements on economic policies and technology development. Despite tensions, efforts to manage the complex bilateral relationship continue with upcoming visits by top US officials to China.
Joe Biden's tenure as the 46th president of the United States began with his inauguration on January 20, 2021. Biden, a Democrat from Delaware who previously served as vice president for two terms under President Barack Obama, took office following his victory in the 2020 presidential election over Republican incumbent president Donald Trump. Upon his inauguration, he became the oldest president in American history, breaking the record set by his predecessor Trump. Biden entered office amid the COVID-19 pandemic, an economic crisis, and increased political polarization.On the first day of his presidency, Biden made an effort to revert President Trump's energy policy by restoring U.S. participation in the Paris Agreement and revoking the permit for the Keystone XL pipeline. He also halted funding for Trump's border wall, an expansion of the Mexican border wall. On his second day, he issued a series of executive orders to reduce the impact of COVID-19, including invoking the Defense Production Act of 1950, and set an early goal of achieving one hundred million COVID-19 vaccinations in the United States in his first 100 days.Biden signed into law the American Rescue Plan Act of 2021; a $1.9 trillion stimulus bill that temporarily established expanded unemployment insurance and sent $1,400 stimulus checks to most Americans in response to continued economic pressure from COVID-19. He signed the bipartisan Infrastructure Investment and Jobs Act; a ten-year plan brokered by Biden alongside Democrats and Republicans in Congress, to invest in American roads, bridges, public transit, ports and broadband access. Biden signed the Juneteenth National Independence Day Act, making Juneteenth a federal holiday in the United States. He appointed Ketanji Brown Jackson to the U.S. Supreme Court—the first Black woman to serve on the court. After The Supreme Court overturned Roe v. Wade, Biden took executive actions, such as the signing of Executive Order 14076, to preserve and protect women's health rights nationwide, against abortion bans in Republican led states. Biden proposed a significant expansion of the U.S. social safety net through the Build Back Better Act, but those efforts, along with voting rights legislation, failed in Congress. However, in August 2022, Biden signed the Inflation Reduction Act of 2022, a domestic appropriations bill that included some of the provisions of the Build Back Better Act after the entire bill failed to pass. It included significant federal investment in climate and domestic clean energy production, tax credits for solar panels, electric cars and other home energy programs as well as a three-year extension of Affordable Care Act subsidies. Biden signed the CHIPS and Science Act, bolstering the semiconductor and manufacturing industry, the Honoring our PACT Act, expanding health care for US veterans, and the Electoral Count Reform and Presidential Transition Improvement Act. In late 2022, Biden signed the Respect for Marriage Act, which repealed the Defense of Marriage Act and codified same-sex and interracial marriage in the United States. In response to the debt-ceiling crisis of 2023, Biden negotiated and signed the Fiscal Responsibility Act of 2023, which restrains federal spending for fiscal years 2024 and 2025, implements minor changes to SNAP and TANF, includes energy permitting reform, claws back some IRS funding and unspent money for COVID-19, and suspends the debt ceiling to January 1, 2025. Biden established the American Climate Corps and created the first ever White House Office of Gun Violence Prevention. On September 26, 2023, Joe Biden visited a United Auto Workers picket line during the 2023 United Auto Workers strike, making him the first US president to visit one.The foreign policy goal of the Biden administration is to restore the US to a "position of trusted leadership" among global democracies in order to address the challenges posed by Russia and China. In foreign policy, Biden completed the withdrawal of U.S. military forces from Afghanistan, declaring an end to nation-building efforts and shifting U.S. foreign policy toward strategic competition with China and, to a lesser extent, Russia. However, during the withdrawal, the Afghan government collapsed and the Taliban seized control, leading to Biden receiving bipartisan criticism. He responded to the Russian invasion of Ukraine by imposing sanctions on Russia as well as providing Ukraine with over $100 billion in combined military, economic, and humanitarian aid. Biden also approved a raid which led to the death of Abu Ibrahim al-Hashimi al-Qurashi, the leader of the Islamic State, and approved a drone strike which killed Ayman Al Zawahiri, leader of Al-Qaeda. Biden signed AUKUS, an international security alliance, together with Australia and the United Kingdom. Biden called for the expansion of NATO with the addition of Finland and Sweden, and rallied NATO allies in support of Ukraine. During the Israel–Hamas war, Biden condemned Hamas and other Palestinian militants as terrorism and announced American military support for Israel; Biden also showed his support and sympathy towards Palestinians affected by the war, sent humanitarian aid, and brokered a four-day temporary pause and hostage exchange.Biden began his term with over 50% approval ratings; however, these fell significantly after the withdrawal from Afghanistan and remained low as the country experienced high inflation and rising gas prices. His age and mental fitness have also been a subject of discussion.
I don't know that anyone was under any illusions that President Biden is an economic wiz, but his tweet that appeared to rip Caitlin Clark's WNBA contract shows once again that he just doesn't get it. Or is ignoring the facts to get his base frothing at the mouth....
The economy of Pittsburgh, Pennsylvania is diversified, focused on services, medicine, higher education, tourism, banking, corporate headquarters and high technology. Once the center of the American steel industry, and still known as "The Steel City", today the city of Pittsburgh has no steel mills within its limits, though Pittsburgh-based companies such as US Steel, Ampco Pittsburgh and Allegheny Technologies own several working mills in the Pittsburgh metropolitan area.Pittsburgh was chosen for the 2009 G-20 summit as its transformation is an example of a 21st-century economy. On September 8, 2009, President Barack Obama stated, "Pittsburgh stands as a bold example of how to create new jobs and industries while transitioning to a 21st century economy."On the list of best cities for job growth in 2009, created by Tara Weiss, a writer for Forbes magazine, Pittsburgh secured its spot because of its strength in the health care and education industries with healthy foundations in technology or robotics and banking industries. The 2009 list of all cities places Pittsburgh as the 169th-best city for job growth.Pittsburgh has also ranked in the top five most livable cities in four of the seven multi-year rankings of Places Rated Almanac (1983, 1985, 1989, and 2007).
Joseph Robinette Biden Jr. ( , BY-dən; born November 20, 1942) is an American politician who is the 46th and current president of the United States. A member of the Democratic Party, he previously served as the 47th vice president from 2009 to 2017 under President Barack Obama and represented Delaware in the United States Senate from 1973 to 2009.Born in Scranton, Pennsylvania, Biden moved with his family to Delaware in 1953. He graduated from the University of Delaware before earning his law degree from Syracuse University. He was elected to the New Castle County Council in 1970 and to the U.S. Senate in 1972. As a senator, Biden drafted and led the effort to pass the Violent Crime Control and Law Enforcement Act and the Violence Against Women Act. He also oversaw six U.S. Supreme Court confirmation hearings, including the contentious hearings for Robert Bork and Clarence Thomas. Biden ran unsuccessfully for the Democratic presidential nomination in 1988 and 2008. In 2008, Obama chose Biden as his running mate, and he was a close counselor to Obama during his two terms as vice president. In the 2020 presidential election, Biden and his running mate, Kamala Harris, defeated incumbents Donald Trump and Mike Pence. He is the oldest president in U.S. history, and the first to have a female vice president.As president, Biden signed the American Rescue Plan Act in response to the COVID-19 pandemic and subsequent recession. He signed bipartisan bills on infrastructure and manufacturing. He proposed the Build Back Better Act, which failed in Congress, but aspects of which were incorporated into the Inflation Reduction Act that he signed into law in 2022. Biden appointed Ketanji Brown Jackson to the Supreme Court. He worked with congressional Republicans to resolve the 2023 United States debt-ceiling crisis by negotiating a deal to raise the debt ceiling. In foreign policy, Biden restored America's membership in the Paris Agreement. He oversaw the complete withdrawal of U.S. troops from Afghanistan that ended the war in Afghanistan, during which the Afghan government collapsed and the Taliban seized control. He responded to the Russian invasion of Ukraine by imposing sanctions on Russia and authorizing civilian and military aid to Ukraine. During the Israel–Hamas war, Biden announced military support for Israel, and condemned the actions of Hamas and other Palestinian militants as terrorism. In April 2023, Biden announced his candidacy for the Democratic nomination in the 2024 presidential election.
Asian markets open on Wednesday with soaring stocks and investor sentiment following cooling U.S. inflation data, which suggests no more rate hikes, and impactful moves in the U.S. market on Tuesday, including bond yields plunging, Nasdaq rising, dollar falling, and Australian and New Zealand dollars leaping. Top-tier data releases in Asia include third quarter Japanese GDP and Chinese retail sales, industrial output, investment, and unemployment figures for October. Additionally, Chinese President Xi Jinping hopes to persuade U.S. President Joe Biden to ease up on tariffs and export controls, as well as boost investment by U.S. firms in China.
House Oversight Committee Chairman James Comer's rebuttal to the committee's top Democrat, Rep. Jamie Raskin, during a hearing started promisingly by refuting the discredited allegation of President Biden taking a bribe from a Ukrainian businessman. The debate escalated when Raskin questioned Donald Trump's dealings with the Chinese government, highlighting the foreign income Trump received while in office. Comer defended Trump's business, contrasting it with the unanswered question of the Bidens' business ventures. The discussion delved into the legality and perception of foreign business dealings by political figures.
US Defense Secretary Lloyd Austin spoke with Chinas Defense Minister Adm. Dong Jun for the first time since November 2022, discussing US-PRC defense relations, high seas freedom of navigation in the South China Sea, Russias war in Ukraine, concerns about North Korea, and the importance of peace and stability across the Taiwan Strait. This communication follows months of strained silence between the two countries and aims to improve military-to-military communication and reduce unsafe incidents in the Indo-Pacific region.
Overnight Editor, HuffPost President Joe Biden cracked a joke at Donald Trump s expense on Tuesday, mocking the former presidents financial struggles as the value of his media company continues to plunge . If Trumps stock in Truth Social his company drops any lower, he might do better under my tax plan than his, Biden said in Pennsylvania , causing the audience to erupt with laughter: If Trumps stock in Truth Social, his company, drops any lower, he might do better under my tax plan than his. President Biden, while pitching his plan for higher taxes on the rich in Scranton, Pennsylvania pic.twitter.com/2vF3CzpSfJ Trump Media & Technology Group Corp.
The National Economic Council (NEC) is the principal forum used by the president of the United States for the consideration of domestic and international economic policy matters with senior policymaking and Cabinet officials, and forms part of the Office of Policy Development which is within the Executive Office of the President of the United States.Since the creation of the National Economic Council on January 25, 1993, its purpose is to coordinate domestic and international economic policy-making decisions; to advise the president on economic policy, with respect to domestic and international economic policy matters; to coordinate with various agencies across the federal government to establish consistent policy with the president's stated goals; and monitor the implementation of the economic agenda of the president. The National Economic Council differs from the Domestic Policy Council, as it considers economic policy matters, while the Domestic Policy Council may consider anything which is related to domestic matters, with the exception of economic policy matters. It also differs from the Council of Economic Advisers, which provides research for the White House based on data, research, and evidence. The Council is also the principal arm of the president when coordinating his economic policies and goals among various other agencies.The National Economic Council is headed by the assistant to the president for economic policy and director of the National Economic Council. Since February 21, 2023, that position has been held by Lael Brainard.
President Biden's administration has reimposed oil sanctions on Venezuela after Nicolas Maduro's regime failed to honor an agreement for fair elections. The sanctions will expire on May 31, affecting companies conducting oil activities. Chevron Corp. is exempt, but other companies must wind down operations. The decision aims to pressure Maduro to allow inclusive elections. Renewed sanctions threaten Venezuela's economy and oil production, impacting global markets. Biden's administration seeks to avoid a return to failed maximum pressure tactics on Maduro, emphasizing the need for a democratic transition.
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