China is years behind U.S. chips, Secretary Raimondo tells 60 Minutes

WASHINGTON, DC – JULY 25: U.S. Secretary of Commerce Gina Raimondo listens as U.S. President Joe Biden participates virtually in a meeting on the Creating Helpful Incentives to Produce Semiconductors (CHIPS) for America Act, in the South Court Auditorium at the White House on July 25, 2022 in Washington, DC.  Anna Moneymaker | Getty Images … Read more

Trump wins on inflation as Biden centers tariffs, jobs: NBC News poll

Joe Biden and Donald Trump 2024. Brendan Smialowski | Jon Cherry | Getty Images More voters trust Donald Trump than President Joe Biden to deal with inflation and the cost of living, their top concerns for the U.S., according to the latest NBC News poll. The poll of 1,000 registered voters nationwide found that 52% of … Read more

China slams U.S. probe into its shipbuilding industry for ‘unfair practices’

U.S. President Joe Biden and Chinese President Xi Jinping before a meeting during the Asia-Pacific Economic Cooperation leaders’ week in Woodside, California, Nov. 15, 2023. Brendan Smialowski | Afp | Getty Images China said it “firmly opposes” the U.S. investigation into its maritime, logistics and shipbuilding industries, calling the move a “mistake on top of … Read more

EU official warns on weaponization of trade amid U.S.-China tensions

Valdis Dombrovskis, Vice-President of the European Commission for the Euro & Social Dialogue, photographed at the Renaissance Harbour View Hotel in Wan Chai. 02DEC17 SCMP/ Xiaomei Chen (Photo by Chen Xiaomei/South China Morning Post via Getty Images) South China Morning Post | South China Morning Post | Getty Images The European Union’s trade chief on … Read more

Biden wants to triple China tariffs on steel, aluminum imports

President Joe Biden and his Chinese counterpart Xi Jinping are expected to meet on the sidelines of the Asia-Pacific Economic Cooperation summit in San Francisco in November. Saul Loeb | Afp | Getty Images President Joe Biden is calling on the U.S. Trade Representative to triple the China tariff rate on steel and aluminum imports … Read more

Republican House panel launches probe into Biden’s FTC-DOJ task force

FTC Commissioner nominee Lina M. Khan testifies during a Senate Commerce, Science, and Transportation Committee hearing on the nomination of Former Senator Bill Nelson to be NASA administrator, on Capitol Hill in Washington, U.S., April 21, 2021.  Graeme Jennings | Reuters The Republican-led House Oversight Committee is launching an investigation into President Joe Biden’s newly … Read more

Watch Fed Chair Powell speak live during a policy forum in Washington

[The stream is slated to start at 1:15 p.m. ET. Please refresh the page if you do not see a player above at that time.] Federal Reserve Chair Jerome Powell speaks Wednesday to the Wilson Center’s Washington Forum on the Canadian Economy, in what will likely be his last policy speech before the next central … Read more

U.S. wage growth is cooling — but it’s still hot in these jobs

Maskot | Maskot | Getty Images Wage growth has cooled from its scorching pandemic-era pace. But there are still pockets of heat. Workers are getting relatively big annual raises in occupational sectors like legal, dental, child care, cleaning and sanitation, and medical information, for example, according to a new analysis by job site Indeed. Nationally, … Read more

China remains a crucial market for U.S. chipmakers amid rising tensions

US-China chip war graphic Wong Yu Liang | Moment | Getty Images China remains an essential market for most American chipmakers despite Washington’s efforts to restrict chip sales to the country and amid Beijing’s push for self sufficiency in the semiconductor sector.  Data from S&P Global showed that U.S. chip giants Intel, Broadcom, Qualcomm and Marvell Technology … Read more

Biden’s China tariff threats are more bark than bite, economists say

U.S. President Joe Biden attends a bilateral meeting with Chinese President Xi Jinping at Filoli estate on the sidelines of the Asia-Pacific Economic Cooperation (APEC) summit, in Woodside, California, U.S., November 15, 2023. REUTERS/Kevin Lamarque Kevin Lamarque | Reuters The Biden administration this week sent several signals of a toughening U.S. economic strategy against China. … Read more