Connect with us

The Center Square

S&P economists say 90-day trade pact with China brings limited relief | National

Published

2 months ago

on

www.thecentersquare.com – Brett Rowland – (The Center Square – ) 2025-05-17 08:51:00


S\&P Global Ratings viewed the recent U.S.-China trade pact as a positive, though temporary, development. The deal, which slashes tariffs from 145% to 30% for the U.S. and from 125% to 10% for China, is set to last 90 days. While it improves the macroeconomic outlook, S\&P warns that without a permanent agreement, tariffs could rise again. The agency noted that the U.S. has only secured two bilateral deals so far and must make further trade agreements by July. S\&P also highlighted potential negative effects on U.S. consumer and retail sectors, including increased costs from tariffs.

(The Center Square) – A top credit-rating agency said the short-term deal the U.S. struck with China on trade is a positive sign, but only temporary.

“The U.S.-China tariff reduction improves our macroeconomic outlook,” said Paul Gruenwald, global chief economist at S&P Global Ratings. “This reflects a combination of factors including the direct effects of lower bilateral tariffs on the world’s two largest economies, a reduction – though not elimination – of policy uncertainty, more buoyant asset prices, and some reopening of previously frozen markets.”

China and the U.S. released details Monday of a trade pact reached over the weekend after talks in Geneva. The two global superpowers agreed to slash tariffs so high that nearly all trade between the two nations stopped. The U.S. reduced its tariffs on China from 145% to 30% while the two nations continue to talk. China cut its levies on U.S. imports from 125% to 10%. The deal will be in place for 90 days.

S&P said the de-escalation “brings only temporary relief.” It noted that if the world’s two largest economies can’t reach a broader, more permanent trade deal in the next three months, tariffs are likely to increase again, perhaps sharply. 

S&P also noted that the U.S. has only secured two bilateral trade deals so far (one with China and one the U.K.). That means the administration has until July to make deals with 16 other major U.S. trading partners.

“A template for scaling these agreements has yet to appear, although the minimum tariff appears to be the 10% flat rate,” S&P noted. 

That could continue to affect trade around the world. 

“We believe that the global trade environment will continue to weigh on credit conditions and our rating outlook, but tail risks have eased somewhat,” said Alexandre Birry, global head of credit research and insights. “The possible impact continues to be uneven across sectors and countries.”

Businesses are likely to remain cautious about hiring in the meantime, according to the S&P report. It further said that consumer spending could remain subdued.

“Given their global supply chain exposure and a weakening consumer environment, we believe there could still be negative implications for U.S. consumer and retail sectors,” according to the report. 

Walmart, the world’s largest retailer, said Thursday that it plans to raise prices because of tariffs. Walmart CEO Doug McMillan said that tariffs will increase consumer costs no matter how hard the giant retailer tries to keep them down. He also said the company plans to move production to the U.S., where possible, building on a years-long effort to bolster supply chains. Given its size and reach, Walmart has more price flexibility and is better positioned to move supply chains than small businesses.

S&P said that while trade progress was a win, the rating agency wasn’t yet ready to update its economic forecasts.

“While this turn of events is positive for economies, we are not providing updated growth forecasts at this juncture,” S&P noted. “This decision takes into account the unpredictability of policy developments, particularly out of the U.S., and our approaching regular quarterly forecasting round.”

The post S&P economists say 90-day trade pact with China brings limited relief | National appeared first on www.thecentersquare.com


Note: The following A.I. based commentary is not part of the original article, reproduced above, but is offered in the hopes that it will promote greater media literacy and critical thinking, by making any potential bias more visible to the reader –Staff Editor.

Political Bias Rating: Centrist

The article maintains a neutral and factual tone throughout, reporting on the trade deal between the U.S. and China from the perspective of a credit-rating agency without endorsing or criticizing any party involved. It includes direct quotes and data to explain the economic implications and uncertainty tied to the agreement, presenting information clearly without emotive or loaded language. The content reports on the ideological positions and actions (such as tariff negotiations and trade policies) without promoting a particular political viewpoint or framing the situation through an ideological lens. This adherence to balanced, informational coverage indicates a centrist bias, focused on objectively conveying facts rather than persuading readers toward a political stance.

Related Topics:

The Center Square

Poll: American voters don’t want data centers built in their communities | Energy

Published

17 hours ago

on

July 2, 2025

By

www.thecentersquare.com – Jon Styf – (The Center Square – ) 2025-07-02 08:45:00


A Libertas Network poll of 1,200 U.S. voters found 46% oppose building AI data centers in their communities, with opposition rising when tax incentives are involved. Data centers, vital for AI computing and storage, often receive tax breaks despite minimal staffing and high energy use. Concerns include rising energy bills and lost tax revenues—over $100 million annually in at least 10 states. Projects frequently involve secrecy agreements, hiding details from the public. Some states, like Wisconsin and Virginia, are adjusting laws and managing backlogs as they balance economic benefits against regulatory, tax, and energy challenges posed by data center development.

(The Center Square) – Most U.S. voters oppose having data centers built in their community and even more oppose the data centers if tax incentives are awarded to have them built, according to a poll released Wednesday morning by Libertas Network.

Overton Insights asked 1,200 registered voters the questions between June 23-26 on behalf of Libertas, which says it focuses on family education and policy reform as it looks to “change hearts, minds and laws to create a freer future.”

Libertas had Overton Insights ask the data center questions upon suggestion from The Center Square.

The poll asked voters specifically if they supported or opposed building new data centers for artificial intelligence in their community with 46% of respondents strongly or somewhat opposing the prospect, 36% strongly or somewhat supporting and 18% uncertain.

Of those that supported building data centers in their community, 69% still supported the idea if tax subsidies or incentives were involved to bring the data centers while 23% or those initially supportive would oppose the idea if those tax breaks were involved.

Data center projects have popped up across the country in recent years with many of those proposals including tax breaks.

The data centers are used to create the computing power for AI and to store the large amounts of information needed for those technologies but the Incentives are often opposed because, despite the large amount of money spent on the buildings, they do not require much staff and they take a large amount of energy.

The average American’s energy bill could increase from 25% to 70% in the next 10 years without intervention from policymakers, according to Washington, D.C.-based think tank the Jack Kemp Foundation.

A least 10 states are currently losing $100 million or more in taxes from data centers, according to an April report from Good Jobs First.

Data centers often require politicians to sign non-disclosure agreements during the proposal process, including keeping the name of the technology company involved along with the details of a project secret.

The secrecy occurred during the process of building a recent Indianapolis data center, according to WFYI, while the names have leaked of developers involved in several Wisconsin data center projects where state lawmakers are asking to create a data center exception to state laws on property tax captures at the sites to lure the projects to the state.

“These data centers are so big and so valuable and such a prize for a community that (state laws capping TIFs) really creates a problem,” said Wisconsin Sen. John Jagler, R-Watertown.

Virginia currently has a backlog of data center projects as they complete interconnection studies to ensure they can safely attach to the energy grid.

Projects needing more than 50 megawatts of power often require transmission-level access, which adds federal oversight from PJM, the regional grid operator for Virginia and 12 other states.

The post Poll: American voters don’t want data centers built in their communities | Energy appeared first on www.thecentersquare.com


Note: The following A.I. based commentary is not part of the original article, reproduced above, but is offered in the hopes that it will promote greater media literacy and critical thinking, by making any potential bias more visible to the reader –Staff Editor.

Political Bias Rating: Center-Right

This article largely reports on the opposition of U.S. voters to data centers in their communities, particularly when tax incentives are involved, and highlights concerns over energy consumption, tax revenue loss, and secrecy in data center deals. While it maintains a mostly factual tone, the choice to emphasize potential downsides—such as rising energy costs, tax breaks controversy, and non-disclosure agreements—reflects a viewpoint often associated with conservative or center-right skepticism of government incentives and large corporate projects. The article cites sources and lawmakers who question the benefits of data centers, but it does not overtly promote a partisan agenda, resulting in a center-right leaning report grounded in reported concerns.

Continue Reading

News from the South - North Carolina News Feed

Bill vote: No change detected by North Carolinians in U.S. House | North Carolina

Published

19 hours ago

on

July 2, 2025

By

www.thecentersquare.com – By Alan Wooten | The Center Square – (The Center Square – ) 2025-07-02 06:57:00


The U.S. House is debating the 887-page reconciliation budget bill, with all 14 North Carolina members yet to change their May 22 votes—10 Republicans in favor, four Democrats opposed. Republican Rep. Richard Hudson criticized Democrats for supporting excessive Medicaid spending for illegal aliens and other programs, emphasizing the bill’s importance for America’s fiscal health. Republican Rep. Virginia Foxx leads efforts to advance the bill, while Democratic Rep. Deborah Ross opposes it, joining others to seek protections against cuts to SNAP benefits. Some Republicans stress tax relief, border security, and energy security as key bill goals. No vote shifts have been reported.

(The Center Square) – As the U.S. House of Representatives takes up the now 887-page version of the reconciliation budget bill, questions on change of votes from a 215-214 decision are paramount.

North Carolina’s 14 members, through early Wednesday morning, were yet to show change. All 10 Republicans were for the House version on May 22 and all four Democrats were against it.

“If the One Big Beautiful Bill Act doesn’t pass, it will have disastrous effects on America’s fiscal trajectory,” said Republican Rep. Richard Hudson. “House Republicans are going to get this done.”

He said “the Democrats voting against it are in favor of” more than “$700 billion in wasteful Medicaid spending for illegal aliens and people who can work but refuse to, instead of America’s most vulnerable; $500 billion in Green New Deal giveaways and luxury EV credits; nearly $200 billion in SNAP waste, fraud and abuse; illegal aliens continuing to receive taxpayer-funded benefits, including Medicaid.”

Republican Rep. Virginia Foxx leads the Rules Committee that immediately got the bill back on the floor for debate. Her reposts on social media did not indicate a change of heart.

“Senate Republicans passed their terrible budget bill today, so I’m back in D.C. fighting for North Carolinians and everyone who would be hurt by this cruel transfer of wealth from everyday Americans to the ultra-rich,” Democratic Rep. Deborah Ross said on Tuesday.

She joined Democratic Rep. Alma Adams’ letter to Rep. Mike Johnson, R-La., with 31 other signatures requesting “harmful cuts to the federal SNAP program” be eliminated.

Reps. Tim Moore, Addison McDowell and Brad Knott indicated undoubtable favor with the Senate’s changes.

“Small businesses need the One Big Beautiful Bill’s tax relief and will suffer if Democrats succeed in stalling this historic legislation,” Knott said. “We must pass OBBB and deliver for all Americans, especially small business owners.”

He also said the “goal is simple: deliver for the American people” and cited tax relief for “individuals, families, family farms and small businesses; border security; public safety; energy security.”

There was no indication of change following the Senate passage in either direction from Republican Reps. Dr. Greg Murphy, Rev. Mark Harris, David Rouzer or Pat Harrigan or Democratic Reps. Don Davis and Valerie Foushee.

The post Bill vote: No change detected by North Carolinians in U.S. House | North Carolina appeared first on www.thecentersquare.com


Note: The following A.I. based commentary is not part of the original article, reproduced above, but is offered in the hopes that it will promote greater media literacy and critical thinking, by making any potential bias more visible to the reader –Staff Editor.

Political Bias Rating: Right-Leaning

The article exhibits a right-leaning bias primarily through selective framing and language use favoring Republican viewpoints. It prominently features Republican representatives’ criticism of the budget bill using charged terms like “wasteful Medicaid spending,” “Green New Deal giveaways,” and “cruel transfer of wealth,” while quoting Democratic responses more neutrally and briefly. The Republicans’ perspectives receive more detailed emphasis and negative framing of Democratic positions, which subtly supports conservative fiscal and policy critiques. Although it reports on both parties’ stances, the tone and framing lean toward promoting a conservative critique of the legislation rather than presenting a fully neutral or balanced overview.

Continue Reading

The Center Square

Trump, DeSantis to unveil ‘Alligator Alcatraz’ detention facility | Florida

Published

2 days ago

on

July 1, 2025

By

www.thecentersquare.com – Bethany Blankley – (The Center Square – ) 2025-07-01 08:14:00


President Donald Trump visited Florida’s new large-scale state-run deportation facility in the Everglades, marking the first of its kind. Florida leads with numerous state agencies partnering with ICE and was the first to launch a program protecting ICE officers. The facility, located at the Dade-Collier Training and Transition Airport near the Everglades, was proposed by Florida Attorney General James Uthmeier and can house up to 3,000 detainees, with the first arrivals expected immediately. Gov. Ron DeSantis emphasized Florida’s full support for Trump’s deportation mission, highlighting the facility’s efficiency for processing and deporting criminal foreign nationals.

(The Center Square) — President Donald Trump is visiting the first large-scale state-run deportation facility in the country in the Florida Everglades on Tuesday morning.

In addition to Florida having the most state agencies and law enforcement entities participating with Immigration and Customs Enforcement officers and being the first state to launch a program to protect ICE officers, it’s also the first to build a massive deportation facility to support Trump’s deportation efforts.

The president will meet with Gov. Ron DeSantis and Attorney General James Uthmeier who proposed the location and construction of the facility.

U.S. Rep. Byron Donalds, Department of Homeland Security Secretary Kristi Noem, Immigration and Custom Enforcement Acting Director Todd Lyons and Florida Division of Emergency Management Executive Director Kevin Guthrie will also be in attendance.

Two weeks ago, Uthmeier proposed that the Dade-Collier Training and Transition Airport be used to assist with ICE deportation efforts. The 30-square mile airport owned by Miami-Dade County is located roughly 60 miles east of Miami near the Everglades National Park. Its 10,000-foot-long asphalt runway is used for military training exercises and was intended to be part of Miami’s new airport before a public outcry halted construction in 1970.

“Florida’s been leading on immigration enforcement, supporting the Trump administration and ICE’s efforts to detain and deport criminal aliens,” Uthmeier said. “The governor tasked state leaders to identify places for new temporary detention facilities. I think this is the best one, as I call it Alligator Alcatraz.”

“It presents an efficient, low-cost opportunity to build a temporary detention facility because you don’t need to invest that much in the perimeter,” he said. “If people get out, there’s not much waiting for them other than alligators and pythons. Nowhere to go, nowhere to hide.”

He said the facility would be ready within 30 to 60 days after construction, with the potential to house 1,000 criminal foreign nationals.

However, the first detainees are expected to arrive as early as Tuesday, and the site will be able to hold up to 3,000 at a time, Gov. DeSantis said.

In a preview with Fox News, DeSantis explained, “the state of Florida is all in on President Trump’s [mass deportation] mission.” In an effort to help federal agents with processing and staging removal operations, the state identified the airport as a base of operations.

“There needs to be more ability to intake, process and then deport,” DeSantis said. “We’ve got a massive runway where any of the federal agencies want to fly these people back to their home country, they can do it in a one stop shop.”

The post Trump, DeSantis to unveil ‘Alligator Alcatraz’ detention facility | Florida appeared first on www.thecentersquare.com


Note: The following A.I. based commentary is not part of the original article, reproduced above, but is offered in the hopes that it will promote greater media literacy and critical thinking, by making any potential bias more visible to the reader –Staff Editor.

Political Bias Rating: Right-Leaning

The article presents a clear ideological perspective aligned with conservative and right-leaning views on immigration enforcement. The tone is largely supportive of President Donald Trump’s deportation efforts and Florida Governor Ron DeSantis’ immigration policies, emphasizing state leadership in immigration enforcement and portraying the new detention facility positively. The language used—such as describing the facility’s location as “Alligator Alcatraz” and highlighting the ease and efficiency of deportation efforts—frames the initiative as practical and tough on immigration. There is no counterpoint or critique presented, which suggests an endorsement of the policy rather than neutral reporting. Overall, the article promotes a pro-enforcement, pro-Trump immigration stance consistent with right-leaning ideology.

Continue Reading

Trending