“In November, the Keystone pipeline spilled roughly 210,000 gallons of bitumin from tar sands in northeast South Dakota, a spill that came on the heels of other spills on that same line in 2016 and 2011. Separately, in October, an accident at a TransCanada meter station in Ohio killed a maintenance worker following a leak of pressurized gas that did not ignite.” More …
Mexico pork tariff threats push Iowa producer losses to $560 million
“Iowa pork producers already dealing with a 25 percent tariff on U.S. pork exports to China could face another trade hit, with Mexico considering a 20 percent tariff on hams and pork shoulders… Growing trade worries have cut pork prices in recent weeks, costing Iowa producers about $560 million … ” More …
‘Trade Discussion’ or ‘Trade War’? The Estimated Impacts of Tariffs on Steel and Aluminum
“We find the tariffs would result in a net loss of over 400,000 jobs after accounting for positive impacts on U.S. steel and aluminum producers. Overall, sixteen jobs would be lost for every steel/aluminum job gained.” More …
Wisconsin reeling from tariffs coming from Mexico, Canada, Europe
“Since June 1, companies that buy steel and aluminum from Canada, Mexico and the European Union have felt the sting of a 25 percent tariff on steel and a 10 percent tariff on aluminum. The tariffs also have triggered countermeasures from U.S. trading partners on a plethora of Wisconsin goods, including Harley-Davidson motorcycles, cheese, yogurt, pork, cranberries, sweetcorn, ginseng, wood, boats, paper and shoes.” More …
Costs of Recent Trade Policies Rack Up
“U.S. steel prices have risen nearly 40% since January and are now 50% higher than in Europe… Studies show that a combined 760,000 jobs could be lost from the tariffs already enacted as well as those being considered on autos and auto parts. And if the administration carries out its threat to withdraw from NAFTA, an additional 1.8 million U.S. jobs could be lost in the first year alone.” More …
Former Trump campaign aide is helping Russian firm shed sanctions
“A former senior campaign and transition aide to President Donald Trump recently inked a deal to help a Russian oligarch’s conglomerate shed sanctions the Trump administration slapped on them last month. Bryan Lanza, who is in regular contact with White House officials, is lobbying on behalf of the chairman of EN+ Group, an energy and aluminum firm presently controlled by Oleg Deripaska, according to several sources. ” More …
Trump Moscow: The Definitive Story of How Trump’s Team Worked the Russian Deal During the Campaign
“On the day of the third Republican presidential debate, Trump personally signed the letter of intent.” More …
The Rise of Silicon China
“Key features of Chinese history and culture have put it in a position to become the global leader in artificial-intelligence technologies, surpassing even the tech giants of Silicon Valley. But to do so, China will need to overcome economic hurdles – both at home and abroad – that could stand in its way.” More …
Mortgage rates hit 7-year high as ultra-cheap era ends
““Mortgage rates this week jumped to their highest level since 2011, signaling a shift from a period of ultracheap loans to a higher-rate environment that could slow home price appreciation and squeeze first-time buyers.” More …
The princes, the president and the fortune seekers
“After a year spent carefully cultivating two princes from the Arabian Peninsula, Elliott Broidy, a top fundraiser for President Donald Trump, thought he was finally close to nailing more than $1 billion in business…. The cache of emails reveals a previously unreported meeting with the president and provides the most detailed account yet of the work of two Washington insiders who have been entangled in the turmoil surrounding the two criminal investigations closest to Trump.” More …