Police shoot at protesters as the parliament burns
Kenyan President William Ruto has said that he will not sign into law a new tax bill that has sparked protests across the country. Hundreds of people took to the streets of the country to protest against the bill, which seeks to increase the consumption tax from 5% to 10%. The Kenya Human Rights Commission has also shared a video of officers shooting at protesters.
Biden is trying to buy time with the new tariffs on China
US President Joe Biden’s administration has announced tariffs on imports from China, which will increase tariffs on goods from China to 50% by 2025. The increased tariffs will affect around $18 billion a year in imports. Some of the goods include critical minerals like lithium, rare earths, and cobalt, which could also affect the electric vehicle (EV) industry.
The US is planning to raise tariffs on batteries, computers, and solar cells from China
US President Joe Biden announced new tariffs on $18 billion in imports from China, including electric vehicles, semiconductors and medical products, to “protect American workers and businesses from the flood of unfairly traded products”. The new tariffs are necessary to protect American workers and business from the flood of unfairly traded products, he added. It is expected to affect around $18 billion in annual imports.
Biden announced tariffs on Chinese goods
US President Joe Biden has said that his administration will impose tariffs on $18 billion of Chinese imports as part of a series of measures to protect the American economy. The move is meant to protect American sectors and the administration says that China is using unfair trade practices. Biden added the tariffs arenecessary to protect American workers from imports of unfairly traded products.
Some voters in the boomerang county say they are nostalgic for the Trump economy
Luis Escarraman, who drives a truck and freight truck in the US, said that he is nostalgic for Donald Trump’s “economy”. “What have we learned in the last two years?” he asked. Escarraman added that he was weighing a lot of things in deciding who he supports politically. In 2008 and 2012 Northampton voters voted for Barack Obama but switched to Trump.
The Fed has kept interest rates at 23-year high
US Federal Reserve (Fed) Governor Jerome Powell said that “consumers are willing to go out to a mall and why does the central bank care about inflation”, adding that high interest rates haven’t hurt the job market. The Fed can influence demand for homes and cars by reducing interest rates but it’s not a factor that can affect restaurant or concert ticket demand.
The Fed is expected to keep rates steady
The US Federal Reserve on Wednesday kept its interest rates unchanged for the fifth straight time. However, it expects to cut rates by two more times in 2024 and said that it isn’t expected to reduce rates until it has ” gained greater confidence” that inflation is moving towards 2%. The unemployment rate has remained below 4% for more than two years.
Biden’s top economic adviser is looking at inflation and the job market
A recent Gallup poll showed that 76% of Americans think the economy in the country is getting worse, while 75% disapprove of President Joe Biden’s handling of the economy. “Housing costs in many parts of the country remain high, and one of the reasons for inflation coming down is because the Federal Reserve hiked interest rates substantially,” Gallup quoted Lael Brainard, the Director of the national economic council.
The fight against inflation isn’t over yet, despite the steady interest rates held by the Fed
The US Federal Reserve has said it would consider the ” lags with which monetary policy affects economic activity and inflation” when it decides whether to raise rates next week. Since March of last year, the US central bank has raised its benchmark rate 11 times, pushing it to its highest level in over 20 years.
According to IEA fossil fuel demand will peak soon because of the global shift to clean energy
The International Energy Agency (IEA) has estimated that renewable energy will provide 50% of the world’s electricity needs by 2030.renewable energy will give 50% of the world’s electricity needs, up from about 30% now, the agency said. shoring up an electric grid is necessary in order to prevent more extreme climate change as disasters caused by climate change threaten power grids, it added.