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10 Challenges Biden Faces in Righting the Economy

All presidents come into office vowing to rapidly put into effect an ambitious agenda. But for Joseph R. Biden Jr., the raging coronavirus pandemic and the economic pain it is causing mean many things must get done quickly if he wants to get the economy going. In a speech Thursday on his $1.9 trillion spending proposal, Mr. Biden repeatedly stressed the need to act “now.”But piecing together a majority in Congress could take time: Compromises and concessions will be needed to get the votes he will need to advance legislation.The new president is expected to reverse many of Donald …

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For Britain’s Chemical Industry, Brexit’s Red Tape Is Just Beginning

For nearly a century the firm of Teal & Mackrill in the port city of Hull in northeast England has made paints for special applications, like fishing trawlers and factory floors. It produces marine paint, for example, with ingredients to prevent barnacles from encrusting hulls.Now in a little-noticed consequence of the new Brexit trade deal, the company is facing real concerns about its future. Geoff Mackrill, the third member of his family to helm the company, said that growing British regulatory burdens on chemicals may mean that eventually he won’t be able to obtain some of the additives that …

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China Issues New Rules Aimed at Trump’s Sanctions

China fired back at the Trump administration on Saturday with new rules that would punish global companies for complying with Washington’s tightening restrictions on doing business with Chinese companies.China’s Ministry of Commerce said that the rules, which went into effect immediately, were intended to counter foreign laws that “unjustly prohibit or restrict” people or companies in China from doing normal business. It said its measures were necessary to safeguard China’s national sovereignty and security and to protect the rights of Chinese citizens and entities.Although Chinese officials did not mention any specific country, the new rules …

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Here Are the 8 Chinese Apps Trump Banned

WASHINGTON — President Trump on Tuesday signed an executive order prohibiting transactions with eight Chinese software applications, including Alipay, the payment platform owned by Ant Group, and WeChat Pay, which is owned by Tencent.The move, two weeks before the end of Mr. Trump’s term, could help lock in his administration’s harsher stance toward China and is likely to further rankle Beijing. But defining the scope of the order and enforcing it would presumably fall to the incoming Biden administration, which has not clarified whether it will try to enact Mr. Trump’s bans, creating uncertainty about the efficacy …

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China and E.U. Leaders Strike Investment Deal, but Political Hurdles Await

Chinese and European Union leaders agreed on Wednesday to make it easier for companies to operate on each other’s territory, a significant geopolitical victory for China at a time when criticism of its human rights record and handling of the pandemic have left it increasingly isolated. But the landmark pact faces political opposition in Europe and Washington that could ultimately derail it, illustrating the difficulties of dealing with an authoritarian superpower that is both an economic rival and a lucrative market.A large faction in the European Parliament, which must ratify the agreement before it can take effect, opposes …

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One Vaccine Side Effect: Global Economic Inequality

LONDON — The end of the pandemic is finally in view. So is rescue from the most traumatic global economic catastrophe since the Great Depression. As Covid vaccines enter the bloodstream, recovery has become reality.But the benefits will be far from equally apportioned. Wealthy nations in Europe and North America have secured the bulk of limited stocks of vaccines, positioning themselves for starkly improved economic fortunes. Developing countries — home to most of humanity — are left to secure their own doses.The lopsided distribution of vaccines appears certain to worsen a defining economic reality: The world that emerges from this terrifying …

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Pound Rises as Britain and E.U. Announce a Post-Brexit Trade Deal

But the relief of actually reaching a deal, and the potential for future cooperation, will reassure many.The head of Confederation of British Industry, which represents 190,000 businesses across the country, called the deal a “huge relief,” but said companies still needed more time to pour over the details and implement changes. “It is urgent that both sides agree to smooth the cliff-edge next week,” said Tony Danker, the group’s director general, referring the changes coming Jan. 1.But some of the details published by the European Commission show the new trade agreement will apply immediately starting Jan. 1. It will be …

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China-E.U. Talks Hit Another Snag as Biden Camp Objects

China and the European Commission appeared close to announcing a landmark agreement this week that would make it easier for their companies to invest in each other’s economies. Then it hit another snag: A tweet by a top aide to Joseph R. Biden Jr. signaled that the president-elect was not happy about the deal.The pact, nearly seven years in the making, remains a top priority of Chancellor Angela Merkel of Germany because it would give companies like Daimler and Volkswagen better control over their operations in China.China, which has long been wary of allowing foreign companies greater …

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Trade With China Roars Back As Americans Are Stuck At Home

Consumer demand is so strong that it has overwhelmed the capacity of the cargo industry, leading to a record spike in shipping rates. The surge in shipments is clogging many supply chains, snarling major ports and delaying delivery of holiday gifts by up to several weeks.At the Port of Los Angeles, the country’s largest processor of container cargo and the gateway for many Chinese goods, shipping containers carrying Chinese imports are stacked like Legos in piles six high. Truckers jam the parking lots, waiting hours to pick up goods, which are then dispatched across the continent.October was …

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A Top House Democrat Prods Biden to Reopen E.U. Trade Talks

WASHINGTON — The chairman of the powerful House Ways and Means Committee urged the incoming administration to renew trade negotiations with the European Union, countering a pledge by President-elect Joseph R. Biden Jr. to postpone any new trade talks until after the United States has made significant domestic investments.The statement on Friday, from Representative Richard E. Neal, Democrat of Massachusetts, raises the question of whether congressional pressure could persuade the Biden administration to take a more aggressive approach to trade negotiations with close allies.Mr. Biden has downplayed expectations for new trade negotiations early in his term, saying he wants …

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