The United States and China have reached a deal that allows the Chinese telecommunications giant ZTE Corp. to stay in business in exchange for paying an additional $1 billion in fines and agreeing to let U.S. regulators monitor its operations. The fine announced Thursday comes on top of $892 million ZTE has already paid for…
Source: Trump Administration Has Cut Deal with China’s ZTE
The Trump administration has told Congress that it’s reached a deal that would allow Chinese telecommunications giant ZTE Corp. to stay in business, a source familiar with the talks who spoke on condition of anonymity to discuss a confidential matter said Friday. A resolution of the ZTE case could clear the way for the United…
Why Robots, Not Trade, Are Behind So Many Factory Job Losses
Donald Trump blames Mexico and China for stealing millions of jobs from the United States. He might want to bash the robots instead. Despite the Republican presidential nominee’s charge that “we don’t make anything anymore,” manufacturing is still flourishing in America. Problem is, factories don’t need as many people as they used to because machines…
Mexico Taking U.S. Jobs? Blame Robots Instead
Donald Trump blames Mexico and China for stealing millions of jobs from the United States. He might want to bash the robots instead. Despite the Republican presidential nominee’s charge that “we don’t make anything anymore,” manufacturing is still flourishing in America. Problem is, factories don’t need as many people as they used to because machines…
U.S. Industrial Production Registers Worst Month Since 2012
U.S. industrial output fell for the third straight month in November, another sign that American manufacturers are under stress. American industrial production dropped 0.6 percent last month, the Federal Reserve said Wednesday. It was the biggest drop since March 2012. Manufacturing output was flat after expanding 0.3 percent in October. Utility output plunged 4.3 percent…
U.S. Brings WTO Case Against Chinese Tax on Aircraft Imports
The United States is bringing a case against China to the World Trade Organization, protesting that taxes on imported aircraft give Chinese manufacturers an unfair advantage. “China’s discriminatory, unfair tax policy is harmful to American workers and American businesses of all sizes in the critical aviation industry, from parts suppliers to manufacturers of small and…
Robots Replacing Human Factory Workers at Faster Pace
Cheaper, better robots will replace human workers in the world’s factories at a faster pace over the next decade, pushing manufacturing labor costs down 16 percent, a report Tuesday said. The Boston Consulting Group predicts that investment in industrial robots will grow 10 percent a year in the world’s 25-biggest export nations through 2025, up…