US, China Hold Economic Talks Before Trump's Tariff Threat

Newsletter Dec 12, 2024

Quick Six

US, China hold economic talks before Trump's tariff threat
Economic officials in lame-duck President Joe Biden's administration will meet their Chinese counterparts this week for talks, in a final effort to strengthen ties before Donald Trump's White House return. The talks come as Treasury Secretary Janet Yellen stressed "ongoing communications at all levels" to avoid tension between the world's two biggest economies. Economic and trade tensions between Washington and Beijing have flared during Biden's term, but temperatures could rise further under Trump, who has threatened sweeping tariff increases on China.
WHY CHINA IS EAGER TO STRIKE DEALS BEFORE TRUMP

Musk has earned more than $100B since Trump's election
Since the 2024 presidential election, Elon Musk has added another $100 billion to his net worth, cementing his position as the richest man in the world. A recent stock sale to Musk's company, SpaceX, single-handedly added $50 billion to Musk's net worth, making him worth roughly $439.2 billion. This signals a change from 2022, when Musk lost $200 billion of his net worth at once. He is the first person in history with a net worth over $400 billion.
WHAT IMPACT WILL MUSK HAVE UNDER TRUMP'S DOGE?

RFK Jr. calls for probe into CIA's role in JFK assassination
Robert F. Kennedy Jr., secretary of the Department of Health and Human Services nominee, reportedly believes the CIA was involved in the 1963 assassination of his uncle, President John F. Kennedy, and is pushing for a member of the powerful family to prove it. RFK Jr. wants daughter-in-law Amaryllis Fox Kennedy to be the pick for deputy CIA director under President-elect Donald Trump, who has vowed to release the rest of the confidential file.
WOULD TRUMP REALLY TAP KENNEDY AS CIA DIRECTOR?

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Pentagon shoots down Iranian drone claims

The Pentagon firmly denied claims made by Rep. Jeff Van Drew (R-NJ) on Wednesday that large, mysterious drones spotted over New Jersey in recent weeks are being launched by an Iranian "mothership" off the East Coast. Van Drew said Iran was behind the drone activity, citing "high sources" for his claim but provided no evidence. The Pentagon reiterated that its initial assessment ruled out foreign or adversarial involvement in the drone sightings. The FBI and FAA continue to investigate the drones, which have been reported in multiple New Jersey counties amid growing public concern and calls for action.

SEE THE OTHER THEORIES BEHIND THE NEW JERSEY DRONES

UN passes Gaza ceasefire; US, Israel deny it

The UN General Assembly on Wednesday overwhelmingly adopted a resolution calling for an immediate and unconditional ceasefire in Gaza, a symbolic gesture rejected by the US and Israel. Adopted by a vote of 158-9 with 13 abstentions, the resolution urges "an immediate, unconditional and permanent ceasefire," and "release of all hostages" -- wording similar to a text vetoed by the US in the Security Council last month. At that time, Washington used its veto power on the Council to protect its ally Israel, which has been at war with Hamas in the Gaza Strip since the Palestinian militant group's October 7 attack on Israel.

THE STICKING POINTS IN AN ACCEPTABLE CEASEFIRE DEAL

2024 set to break 1.5-degree benchmark

In what has become the least surprising news annually, this year is on track to become the hottest year on record, with global temperatures expected to exceed 1.5 degrees Celsius above the benchmark set by the Paris Agreement. According to a monthly climate bulletin, this will be the first time since the agreement was established that the world has reached this benchmark. Despite the imminent breach, 2024 is set to mark the 10th consecutive year that has seen record highs broken.

IS GLOBAL CLIMATE CHANGE BEYOND POINT OF NO RETURN?

Extra point

According to climate data, when was the last time Earth this warm?

Wednesday's answer: The Walt Disney Co. sells the most licensed merchandise worldwide, reaching an estimated $62 billion in 2023.

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