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The Latest on the U.S.-China Trade War
On July 6, the Trump administration announced that it would impose 25% tariffs on $34 billion worth of Chinese goods. This followed a similar round of tariffs imposed in March. The Chinese government responded by announcing plans to impose their own tariffs on $50 billion worth of American goods. The trade war is now full-blown.
There are a few key things to know about the trade war:
-The tariffs will impact both Chinese and American consumers, with prices going up for products like soybeans and cars.
-China is by far the largest export market for America’s agriculture, so the tariffs are likely to have a bigger impact there than they will in other sectors.
-The U.S. has already imported more than $130 billion worth of Chinese goods this year, and those imports are only going to increase as the trade war picks up steam.
Trump Announces Plans to Withdraw from the Iran Nuclear Deal
President Donald Trump announced on Tuesday that the United States will withdraw from the Iran nuclear deal, following through on a campaign promise. The deal, which was negotiated between six world powers and Iran in 2015, sought to prevent Tehran from developing a nuclear weapon. Trump argued that the agreement does not sufficiently address Tehran’s other threats, such as its support for terrorism and its ballistic missile program. In response to Trump’s announcement, Iranian President Hassan Rouhani said that Iran would proceed with its plans to build more nuclear plants.
The Trump Administration Announces 2020 Guidance for the Affordable Care Act
The Trump Administration announced guidance on the Affordable Care Act, which is an important update on the guidelines issued by former President Obama in 2016.
The new guidance offers some updates to the original Obama-era guidance, but it is still preliminary and subject to change. The Trump administration is looking to repeal and replace the Affordable Care Act, which would mean major changes to the health care system.
There are a few key points that are worth noting in this guidance:
1. The Trump administration wants to encourage people to buy insurance through state exchanges or through Medicaid, rather than relying on individual marketplaces. This would reduce the number of people who have coverage through these marketplaces and could result in higher premiums for those who do have coverage.
2. The Trump administration is proposing changes to how Medicaid is funded, which could lead to cuts in benefits for many low-income people who currently receive assistance from the program.
The Trump Administration Announces a Plan to Reform Regulations
Last week, the Trump Administration announced a plan to reform regulations. This announcement comes on the heels of President Trump’s Executive Order “Task Force on Regulation and Regulatory Reform” which was established in May 2017.
The goal of this plan is to reduce the number of regulations by 50%. According to the White House, “regulations cost American businesses $2 trillion in lost GDP and 6 million jobs over the last decade.” President Trump has argued that excessive regulation is one of the main reasons why businesses are not doing well.
To make this plan a reality, the Trump administration has put together a team of experts who will be tasked with reviewing existing regulations and making recommendations on how they can be streamlined or eliminated. The team includes individuals from both within and outside of government.
This plan is controversial and there is likely to be some resistance from those who feel that regulations are necessary to protect public safety or ensure compliance with legal requirements. However, if implemented properly, this plan could lead to significant reductions in the number of regulations governing US businesses.
The Trump Administration Releases a Proposed Budget for Fiscal Year 2020
The Trump Administration has released its proposed budget for Fiscal Year 2020, and it contains a number of significant changes and proposals. The most notable changes are the proposals to increase funding for defense spending and to cut funding for social welfare programs.
The proposed budget also includes several other major changes. For example, the budget proposes to eliminate the Corporation for Public Broadcasting, which provides funding for programming such as PBS and NPR. The budget also proposes to reduce federal funding for food assistance programs by more than $20 billion over the next decade.
Overall, the proposed budget is far different from the budget that was passed in December of last year. As a result, there will likely be a lot of discussion and debate over how the proposed budget will eventually be implemented.
