Delta Skirts Trump Tariffs by Sending Airbus Jets on Tour
“Delta Air Lines Inc. is sidestepping millions of dollars in U.S. tariffs on European jetliners by initially routing them far outside the country to such places as Amsterdam, Tokyo and El Salvador. The U.S. carrier has taken delivery of seven European-built Airbus SE planes since President Donald Trump’s levies took effect in October 2019. Rather than flying them home as it had in the past, Delta has based the aircraft overseas. The decision, coupled with the definition of new planes in the tariff rules, has kept the jets from being considered imports even though some of them regularly enter the U.S.”
Spain Dragged to the Edge of a Dangerous Italian Economic Trap
“Spain spent the years following the global financial crash trying to look a lot less like Italy, the weakest link in the euro-area economy. Then came the coronavirus. The destruction wrought by the pandemic has plunged Spain into the deepest slump in the euro area and left its public finances in tatters. A piecemeal economic response by the minority government led by Socialist Prime Minister Pedro Sanchez is threatening to push the economy into an Italian trap of sluggish growth and stubbornly-high debt.”
China Should Set 5% Growth Target, Government Economist Says
“China should set an economic growth target of about 5% over the next five years, although the expansion will likely fluctuate this year and next because of the coronavirus pandemic, a government-affiliated economist said. The potential growth rate in the period covering the 14th five-year plan period — released by the Communist Party last month — is between 5%-6%, said Li Xuesong, a senior research fellow at the Chinese Academy of Social Sciences, a government think tank.”
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