Economy

Debate Over Tariffs Reveals Biden’s Difficulties on China Trade

WASHINGTON – President Biden’s decision on Monday to try to align with Asian partners to form an economic bloc against China comes at a moment of frustration over his administration’s economic approach to Beijing, with some White House advisers pushing the president to move away from Trump- era policies he criticized and others arguing that …

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Weakened Euro May Become Equal to the US Dollar

The list of ailments troubling the eurozone economy was already stark: the highest inflation rate on record, energy insecurity and increasing whispers about a recession. This month, another threat emerged. The weakening euro has raised expectations that it could reach parity with the US dollar. Europe is facing “a steady stream of bad news,” Valentin …

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In South Korea, Joe Biden Seeks to Rebuild Economic Ties Across Asia

PYEONGTAEK, South Korea – President Biden began his first diplomatic mission in Asia on Friday by touring a Samsung semiconductor facility in South Korea, part of his effort to strengthen the waning economic influence of the United States in the region and to address supply chain problems that have hurt American consumers back home. Shortly …

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A Weak Euro Heads to an Uncomfortable Milestone: Parity With the Dollar

The list of ailments troubling the eurozone economy was already stark: the highest inflation rate on record, energy insecurity and increasing whispers about a recession. This month, another threat emerged. The weakening euro has raised expectations that it could reach parity with the US dollar. Europe is facing “a steady stream of bad news,” Valentin …

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Biden’s Curious Talking Point: Lower Deficits Offer Inflation Relief

As Americans deal with the highest inflation in decades, President Biden has declared that combating rising costs is a priority for his administration. Lately, he has cited one policy in particular as an inflation-fighting tool: shrinking the nation’s budget deficit. “Bringing down the deficit is one way to ease inflationary pressures in an economy,” he …

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US Eyeing Russian Energy Sanctions Over Ukraine War, Officials Say

BERLIN – The Biden administration is developing plans to further choke Russia’s oil revenues with the long-term goal of destroying the country’s central role in the global energy economy, current and former US officials say, a major escalatory step that could put the United States in political conflict with China, India, Turkey and other nations …

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Russia’s Economic Outlook Grows ‘Especially Gloomy’ as Prices Soar

LONDON – After sanctions hobbled production at its assembly plant in Kaliningrad, the Russian automaker Avtotor announced a lottery for free 10-acre plots of land – and the chance to buy seed potatoes – so employees could grow their own food in the westernmost fringe of the Russian empire during “the difficult economic situation.” In …

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Economic Headwinds Mount as Leaders Weigh Costs of Confronting Russia

BRUSSELS – The world economy is heading into a potentially grim period as rising costs, shortages of food and other commodities and Russia’s continuing invasion of Ukraine threaten to slow economic growth and bring about a painful global slump. Two years after the coronavirus pandemic emerged and left much of the globe in a state …

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Powell says the Fed is watching for ‘clear and convincing’ signs of inflation fading.

Jerome H. Powell, chair of the Federal Reserve, said that the central bank is focused on getting rapid inflation under control and that it is ready to intensify its efforts to tamp down price pressures if they do not start to ease as policymakers expect. “What we need to see is clear and convincing evidence …

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