The U.S. on Monday cracked down on companies in China and other countries that use subsidiaries or other foreign affiliates to get around curbs on chipmaking equipment and other goods and technology. The Commerce Department issued a new rule expanding its restricted export list, known as the Entity List, to automatically include subsidiaries owned 50 percent or more by a company on the list, according to a posting in the U.S. Federal Register. The action greatly increases the number of companies that require licenses to receive American goods and services. The rule is likely to disrupt...
President Donald Trump said on Monday he would impose a 100% tariff on all films produced overseas that are then sent into the U.S., repeating a threat made in May that would upend Hollywood's global business model. The step signals Trump's willingness to extend protectionist trade policies into cultural industries, raising uncertainty for studios that depend heavily on cross-border co-productions and international box-office revenue. "Our movie making business has been stolen from the United States of America, by other Countries, just like stealing candy from a baby," Trump said in a post...
President Donald Trump's administration started detailing its plans on Monday for which services it will pause if the federal government shuts down this week, with the U.S. health department slated to furlough 41% of its workforce. The impending shutdown will be different than past government closures because the administration has threatened mass firings of federal staff, adding that it could use the lapse in funding to downsize the federal government. The Office of Personnel Management in a Monday memo said while training and onboarding of new federal employees is not allowed under the...