FRANCE – CHINA – Open markets, Macron tells China, or risk protectionist backlash

French President Emmanuel Macron focused on trade imbalances on the second day of his state visit to China, offering to open up France to Chinese investment in exchange for greater access to Chinese markets for French companies. Speaking to members of the French and Chinese business community at a start-up incubator, called Soho3Q, in Beijing, Macron… Please follow and like us:

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Senate GOP advances tax bill toward vote later this week, but changes still being made

WASHINGTON — Senate Republicans pushed their tax plan past another key hurdle Wednesday, a show of momentum for President Donald Trump’s top priority even as frantic negotiations with Republican holdouts made final passage uncertain. The 52-48 vote, with all Democrats opposed, marked an important milestone as Republicans in Congress scrambled to deliver a significant accomplishment by… Please follow and like us:

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Trump rallies Capitol Hill as House GOP set to pass tax plan

WASHINGTON — House Republicans were on track Thursday to pass their sweeping tax-cut package, setting up a showdown with the Senate, where Republicans are taking a different approach. President Donald Trump arrived on Capitol Hill to bolster Republicans determined to push the tax package through Congress — and accomplish a top GOP priority — despite widespread… Please follow and like us:

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N. Korea, Trade High on Trump’s Agenda on First Visit to China

When U.S. President Donald Trump makes his first visit to China next week, a key stop on a lengthy trip to the Asian region, trade and North Korea are expected to top his agenda. Chinese officials have voiced confidence the trip could bring some significant outcomes, but analysts say that may depend largely on Trump’s approach.… Please follow and like us:

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House Republicans pass GOP budget with $1.5 trillion deficit increase to fund Trump’s tax cuts

WASHINGTON — House Republicans on Thursday gave final approval to a 2018 GOP budget resolution, allowing for a $1.5-trillion deficit increase that sets the stage for President Donald Trump’s tax cuts. Republicans overcame internal divisions about the budget but must still resolve differences over the coming tax package, which is scheduled to be unveiled next week.… Please follow and like us:

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FRANCE – France to pay big firms 10 billion euros after court blocks dividends tax

The French exchequer has been ordered to pay 10 billion euros to big companies after the country’s highest judicial authority struck down a tax imposed by the previous government on dividend … Earlier this month the Constitutional Council declared the three-percent tax on dividends, introduced by President François Hollande’s government in 2012, illegal on the grounds… Please follow and like us:

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IMF’s Lagarde: US tax overhaul ‘desperately needed’

IMF chief Christine Lagarde on Friday urged the United States to proceed with a tax overhaul, saying it was “desperately needed” to boost growth in the world’s largest economy. “Tax reform is a must. Tax reform in the US is imperative,” Lagarde said on CNBC. “It has to be simpler. It has to be at lower… Please follow and like us:

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Economy – Macron readys give-and-take budget

French President Emmanuel Macron’s government is set to unveil its first budget on Wednesday, balancing tricky priorities as it seeks to cut taxes while also slashing the deficit. The young centrist president has pledged to find 16 billion euros of savings next year, seeing cutting the deficit as key to boosting France’s credibility in Europe as… Please follow and like us:

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Conservatives Fret McConnell, Mnuchin Lowering Tax Reform Expectations

Conservatives who thought Republican efforts at tax reform would be more successful than the party’s failed attempts at achieving health care reform earlier this year could be in for a disappointment. Appearing at a question and answer session at the Louisville, Kentucky Chamber of Commerce with Treasury Secretary Steve Mnuchin on Monday morning, Sen. Majority leader… Please follow and like us:

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Underfunded Pensions Could Spark Wave Of ‘Precedent Setting’ Reforms

Underfunded pensions plans are possibly one of the most significant headwinds facing companies and public-sector bodies today. Despite record high stock markets and a bond bull market that has lasted for many decades, corporate pension plans are still chronically underfunded as fees and poor investment performance have eroded gains. Furthermore, pension trustees have struggled to keep… Please follow and like us:

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CBO agrees we need entitlement reform, pro-growth tax policies

WASHINGTON, August 2, 2017 – In May, President Trump introduced his first budget to Congress. In it, he wants to change the tax code and significantly reduce spending on entitlement programs. Trump claims the actions in his budget would reduce the deficit and eventually lead to a balanced budget by 2027. The Congressional Budget Office (CBO)… Please follow and like us:

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Legislative Logjam Threatens Early Economic Momentum for Trump

Despite sluggish legislative progress on big-ticket agenda items, new numbers suggest the Trump administration has continued to inject confidence into the U.S. economy. The U.S. economy grew at a rate of 2.6 percent from April 1 to June 30, according to the federal government. President Donald Trump wants economic growth of at least 3 percent to… Please follow and like us:

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Trade surplus good for America?

When we discuss international trade and balance of payments, there are two types of accounts. There is the current account, which includes goods and services imported and exported and receives the most political attention. In 2016, the American people imported $479 billion worth of goods and services from Chinese producers, and we sold $170 billion worth… Please follow and like us:

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Remaking the Republican Party: Populism a la Trump

Even though US President Donald Trump has been criticised by “true” conservatives for his past liberal positions on social issues and his denunciations of trade pacts, his February 24 speech at the Conservative Political Action Conference (CPAC) was widely applauded. His comments, and those of his chief adviser, Stephen Bannon, suggest that he aims to take… Please follow and like us:

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