Government Policy

  • 2019-11-08 11:45

    By Jean Yung

    WASHINGTON (MNI) - Climate change deserves consideration in the Federal Reserve's setting of monetary policy as the risks are projected to have "profound effects" on the U.S. economy and financial system, Fed Governor Lael Brainard said Friday.

    "To fulfill our core responsibilities, it will be important for the Federal Reserve to study the implications of climate change for the economy and the financial system and to adapt our work accordingly," she said in remarks prepared for a San Francisco Fed conference on climate change.

    It is vital for policymakers to understand the nature of climate disturbances to the economy, including how natural disasters affect labor markets, household and business spending, output and prices, she said.

  • 2019-11-07 21:05

    -- Optimism Remains Despite Slide In Expectations For Summit Date

    NEW YORK (MNI) - With the United States and China agreeing to roll back tariffs on each others' goods contingent on a phase one deal, former U.S. Trade Representatives see strong momentum going forward with expectations for a phase one deal and beyond.

    "I think the news suggests that they have everything in place for a phase one deal with a phased stage-out of tariffs in maybe a one, two, or three stage process, depending on the commitments made," Welles Orr, a former assistant U.S. Trade Representative, told MNI.

    "I am optimistic that this thing is really coming together," Orr said.

  • 2019-11-06 15:20

    Harker Silent On Interest Rate Policy

    NEW YORK (MNI) - Federal Reserve Bank of Philadelphia leader Patrick Harker said Wednesday that tight labor markets and developments in artificial intelligence present an opportunity to improve the workforce.

    "Unemployment is at a half-century low. Businesses are having trouble finding skilled workers. This has, to some extent, forced us to view the workforce from a new perspective," Harker said in prepared remarks to be delivered at Drexel University in Philadelphia.

    "For one, the change is coming a lot faster than it used to. For another, the labor market itself is different.

  • 2019-11-05 03:30

    Wider Trade Talks With EU Complicated By Aircraft Subsidies

    WASHINGTON (MNI) - U.S. President Donald Trump will miss a deadline next week on the investigation of cars imported from the European Union to keep his leverage in broader trade talks, former officials told MNI.

    Trump has until Nov. 13 to respond to results of the Commerce Department's automobile probe under a clause known as Section 232 covering national security.

    The White House is "jockeying for position" and the statute's hazy language allows the president to take any actions deemed necessary, said Bernd Janzen, a former attorney in the Office of the Chief Counsel for Import Administration. That could allow Trump to call for an extended review following the deadline.

  • 2019-10-28 16:13

    -- Washington Seeks WTO Dispute Settlement, Despite Block On New Judges

    WASHINGTON (MNI) - The U.S. said Monday it would reject sanctions imposed by China stemming from a World Trade Organization ruling on an Obama-era dispute, although the case will likely stall as Washington continues to block the reappointment of new WTO appeals judges.

    The WTO Appellate Body ruled in July that the U.S. had failed to comply with a 2012 ruling concerning the imposition of tariffs on Chinese solar panels and steel products. Earlier this month, China announced it would respond with $2.4 billion in compensatory sanctions, which the U.S.

  • 2019-10-25 11:09

    -- Principal-Level Talks to Continue in 'Near Future'

    WASHINGTON (MNI) - The U.S. and China made progress in trade discussions and have come close to finalizing some sections of a Phase One agreement, the Office of the U.S. Trade Representative said Friday.

    "United States Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin spoke today with China's Vice Premier Liu He on Phase One of the U.S.-China trade agreement," a statement released by the agency said.

    "They made headway on specific issues and the two sides are close to finalizing some sections of the agreement.

  • 2019-10-24 12:54

    By Evan Ryser

    WASHINGTON (MNI) - U.S. Vice President Mike Pence said in a speech Thursday that the Trump administration is optimistic a Phase One trade deal with China will be signed next month in Chile at APEC.

    "We are hopeful that a Phase One with its additional purchases of American agriculture can be confirmed in Chile," Pence said at the Woodrow Wilson International Center for Scholars in Washington.

    "President Trump believes that China wants to make a deal. He remains optimistic that not only we can complete Phase One but that we can move on to the structural issues," Pence said.

    Pence softened what in the past has often been a hawkish tone on China, saying the "United States does not seek confrontation with China.

  • 2019-10-11 11:04

    By Evan Ryser

    WASHINGTON (MNI) - The U.S. Treasury Department said on Friday it will seek comments from primary dealers about a potential 20-year bond.

    "As part of the quarterly refunding process, Treasury is asking primary dealers for their views on the likely demand, pricing, liquidity, and ideal structure/auction schedule of a potential 20-year bond," a Treasury official said.

    The Treasury Department is scheduled to make its next quarterly announcement on debt Oct. 30.

    --MNI Washington Bureau; +1 202 371 2121; email:

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  • 2019-10-10 12:57

    Partial China Deal Could Include October Tariff Delay

    WASHINGTON (MNI) - The United States Chamber of Commerce said the U.S. and China are making progress in trade talks and could be working toward an "early harvest" deal on intellectual property, market access, and agricultural purchases, with the possibility of a currency deal this week.

    "There is even the possibility of a currency agreement this week.

  • 2019-10-09 08:48

    By Brooke Migdon

    WASHINGTON (MNI) - As the U.S. and China prepare for their 13th round of trade talks in Washington Thursday, negotiators on both sides of the table should not expect to gain any significant concessions, former trade advisors told MNI.

    Despite U.S. "wins" in trade deals this year with Japan, Mexico and Canada, the U.S. and China will most likely seek a "mini deal" calling for large-scale purchases of U.S. goods and the end of tariffs on imported Chinese goods, according to experts.

    "It's a mistake for the U.S. to go into these negotiations thinking that China is desperate for a deal. That is just simply not true," former Treasury and World Bank economist David Dollar told MNI.