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METAIRIE, La. (AP) — Dejounte Murray plans to return to the New Orleans Pelicans ' lineup on Wednesday night for the first time since fracturing his left hand in a season-opening victory over Chicago on Oct. 23. Read this article for free: Already have an account? To continue reading, please subscribe: * METAIRIE, La. (AP) — Dejounte Murray plans to return to the New Orleans Pelicans ' lineup on Wednesday night for the first time since fracturing his left hand in a season-opening victory over Chicago on Oct. 23. Read unlimited articles for free today: Already have an account? METAIRIE, La. (AP) — Dejounte Murray plans to return to the New Orleans Pelicans ‘ lineup on Wednesday night for the first time since fracturing his left hand in a season-opening victory over Chicago on Oct. 23. And when Murray takes the court against the Toronto Raptors, his mother will be on his mind. After practice on Tuesday, Murray discussed his impending return and disclosed more details about the previously unspecified “personal matters” that caused him to leave the team during the final days of the preseason. His mother had a stroke, he said. “It was tough to leave and go deal with that. As she got better, she wanted me to come play,” Murray said of his last-minute decision to start against Chicago. He added that his hand injury near the end of that game was God’s way of telling him, “‘Nah, you need to stay with your mom.’” “I was more concerned about my mother. That was my priority,” Murray continued. “I wasn’t really worried about my recovery.” Murray’s mother has recovered well, he said, while he is “healthy and ready to help this team.” “I’m ready to hoop. Play for my mother — she’s going to be watching,” Murray said. “I’m ready to compete, bring that winning spirit.” The Pelicans (4-14) certainly could use the help, having lost 14 of 16 games since opening the season with a pair of victories. Winnipeg Jets Game Days On Winnipeg Jets game days, hockey writers Mike McIntyre and Ken Wiebe send news, notes and quotes from the morning skate, as well as injury updates and lineup decisions. Arrives a few hours prior to puck drop. Injuries have ravaged the roster. At times, all five starters have been out. Star power forward Zion Williamson has missed 12 games this season — one with an illness and 11 with a hamstring injury. Herb Jones has been sidelined by a shoulder strain and Brandon Ingram’s status is in doubt after he sat out practice on Tuesday with calf soreness that also sidelined him during a loss on Monday night at Indiana. But at least two starters — Murray and fellow guard CJ McCollum — are expected to play against the Raptors. “I don’t care how many games we’ve lost. I just know every time I step on the floor I feel like we can win games,” said Murray, who had 14 points, 10 assists and eight rebounds in his lone game with the Pelicans. “That’s just my mentality, and I feel like it can carry over to a lot of guys.” ___ AP NBA: https://apnews.com/hub/NBA Advertisement AdvertisementWASHINGTON — President-elect Donald Trump has identified what he sees as an all-purpose fix for what ails America: Slap huge new tariffs on foreign goods entering the United States. On Monday, Trump sent shockwaves across the nation's northern and southern borders, vowing sweeping new tariffs on Mexico, Canada , as well as China, as soon as he takes office as part of his effort to crack down on illegal immigration and drugs. In a pair of posts on his Truth Social site Trump railed against an influx of immigrants lacking permanent legal status, even though southern border apprehensions have been hovering near four-year lows. He said he would impose a 25% tax on all products entering the country from Canada and Mexico, and an additional 10% tariff on goods from China, as one of his first executive orders. He said the new tariffs would remain in place “until such time as Drugs, in particular Fentanyl, and all Illegal Aliens stop this Invasion of our Country!” The president-elect asserts that tariffs — basically import taxes — will create more factory jobs, shrink the federal deficit, lower food prices and allow the government to subsidize childcare. Economists are generally skeptical, considering tariffs to be a mostly inefficient way for governments to raise money. They are especially alarmed by Trump’s latest proposed tariffs. Carl B. Weinberg and Rubeela Farooqi, economists with High Frequency Economics said Tuesday that energy, automobiles and food supplies will be particularly hit hard. “Imposing tariffs on trade flows into the United States without first preparing alternative sources for the goods and services affected will raise the price of imported items at once," Weinberg and Farooqi wrote. "Since many of these goods are consumer goods, households will be made poorer.” High Frequency Economics believes the threats are not meant to support new trade policy and are instead a tool to elicit some changes along the borders and for imports from Canada, Mexico and China. Though Vice President Kamala Harris criticized Trump’s tariff threats as unserious during her failed bid for the presidency, the Biden-Harris administration retained the taxes the Trump administration imposed on $360 billion in Chinese goods. And it imposed a 100% tariff on Chinese electric vehicles. Indeed, the United States in recent years has gradually retreated from its post-World War II role of promoting global free trade and lower tariffs. That shift has been a response to the loss of U.S. manufacturing jobs, widely attributed to unfettered trade and an increasingly aggressive China. Tariffs are a tax on imports They are typically charged as a percentage of the price a buyer pays a foreign seller. In the United States, tariffs are collected by Customs and Border Protection agents at 328 ports of entry across the country. The tariff rates range from passenger cars (2.5%) to golf shoes (6%). Tariffs can be lower for countries with which the United States has trade agreements. For example, most goods can move among the United States, Mexico and Canada tariff-free because of Trump’s US-Mexico-Canada trade agreement. There's much misinformation about who actually pays tariffs Trump insists that tariffs are paid for by foreign countries. In fact, its is importers — American companies — that pay tariffs, and the money goes to U.S. Treasury. Those companies, in turn, typically pass their higher costs on to their customers in the form of higher prices. That's why economists say consumers usually end up footing the bill for tariffs. Still, tariffs can hurt foreign countries by making their products pricier and harder to sell abroad. Yang Zhou, an economist at Shanghai’s Fudan University, concluded in a study that Trump’s tariffs on Chinese goods inflicted more than three times as much damage to the Chinese economy as they did to the U.S. economy Tariffs are intended mainly to protect domestic industries By raising the price of imports, tariffs can protect home-grown manufacturers. They may also serve to punish foreign countries for committing unfair trade practices, like subsidizing their exporters or dumping products at unfairly low prices. Before the federal income tax was established in 1913, tariffs were a major revenue driver for the government. From 1790 to 1860, tariffs accounted for 90% of federal revenue, according to Douglas Irwin, a Dartmouth College economist who has studied the history of trade policy. Tariffs fell out of favor as global trade grew after World War II. The government needed vastly bigger revenue streams to finance its operations. In the fiscal year that ended Sept. 30, the government is expected to collect $81.4 billion in tariffs and fees. That's a trifle next to the $2.5 trillion that's expected to come from individual income taxes and the $1.7 trillion from Social Security and Medicare taxes. Still, Trump wants to enact a budget policy that resembles what was in place in the 19th century. He has argued that tariffs on farm imports could lower food prices by aiding America’s farmers. In fact, tariffs on imported food products would almost certainly send grocery prices up by reducing choices for consumers and competition for American producers. Tariffs can also be used to pressure other countries on issues that may or may not be related to trade. In 2019, for example, Trump used the threat of tariffs as leverage to persuade Mexico to crack down on waves of Central American migrants crossing Mexican territory on their way to the United States. Trump even sees tariffs as a way to prevent wars. “I can do it with a phone call,’’ he said at an August rally in North Carolina. If another country tries to start a war, he said he’d issue a threat: “We’re going to charge you 100% tariffs. And all of a sudden, the president or prime minister or dictator or whoever the hell is running the country says to me, ‘Sir, we won’t go to war.’ ” Economists generally consider tariffs self-defeating Tariffs raise costs for companies and consumers that rely on imports. They're also likely to provoke retaliation. The European Union, for example, punched back against Trump’s tariffs on steel and aluminum by taxing U.S. products, from bourbon to Harley-Davidson motorcycles. Likewise, China responded to Trump’s trade war by slapping tariffs on American goods, including soybeans and pork in a calculated drive to hurt his supporters in farm country. A study by economists at the Massachusetts Institute of Technology, the University of Zurich, Harvard and the World Bank concluded that Trump’s tariffs failed to restore jobs to the American heartland. The tariffs “neither raised nor lowered U.S. employment’’ where they were supposed to protect jobs, the study found. Despite Trump’s 2018 taxes on imported steel, for example, the number of jobs at U.S. steel plants barely budged: They remained right around 140,000. By comparison, Walmart alone employs 1.6 million people in the United States. Worse, the retaliatory taxes imposed by China and other nations on U.S. goods had “negative employment impacts,’’ especially for farmers, the study found. These retaliatory tariffs were only partly offset by billions in government aid that Trump doled out to farmers. The Trump tariffs also damaged companies that relied on targeted imports. If Trump’s trade war fizzled as policy, though, it succeeded as politics. The study found that support for Trump and Republican congressional candidates rose in areas most exposed to the import tariffs — the industrial Midwest and manufacturing-heavy Southern states like North Carolina and Tennessee.Jon M. Chu Embraced the Politics of ‘Wicked’ and Audiences Seeing It Through a Post-Election Lens
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The connected economy might be making a jump from end-users’ hands to their faces. That is, if Big Tech’s biggest representatives are to be believed. On Thursday (Dec. 12), Google introduced a new Android operating system (OS) built for extended reality (XR) devices like headsets and glasses, citing “years of investment” that will “transform how you watch, work and explore.” Extended reality (XR) — an umbrella term encompassing virtual reality (VR), augmented reality (AR) and mixed reality (MR) — continues to redefine how digital and physical worlds interact. Google’s XR OS was created in collaboration with Samsung and will first launch on headsets built by Samsung code-named “Project Moohan,” taken from the Korean word for “infinite.” Project Moohan joins the ranks of multiple XR headsets already available to consumers and businesses, such as Meta’s Quest 3 headset and Orion augmented reality (AR) glasses, the Apple Vision Pro headset and other products such as the XREAL Air AR glasses. On a fundamental level, the XR landscape presents a once-in-a-generation opportunity for payments innovation. XR applications in gaming, eCommerce, healthcare, education, the workplace and beyond will all demand seamless and secure payment solutions that match the promise of these technologies. Read more : AR and VR Have Potential to Reshape Wearable Tech Landscape Why Wearable Tech Needs Seamless Payments As XR grows, payments are likely to no longer be a mere utility but a critical enabler of its success. By addressing the unique needs of immersive environments, payment providers can enable new business models, build trust with users and redefine the boundaries of commerce in virtual and augmented realities. XR environments pose unique challenges for traditional payment systems. XR users expect transactions to blend naturally into their immersive experiences. Whether purchasing digital goods in a metaverse store or accessing subscription-based AR learning modules, payments must occur without disrupting the flow. The PYMNTS Intelligence study, “ The Online Features Driving Consumers to Shop With Brands, Retailers or Marketplaces ,” revealed that consumers expect interactive, customized commerce experiences. PYMNTS Intelligence research also found that a significant share of consumers are eager for VR to replicate the experience of brick-and-mortar shopping. Specifically, among the 95% of consumers who own or have access to at least one internet-connected device, one-third expressed a high level of interest in using VR technology to shop and buy retail products available in physical stores from their home or office. Voice-command payments, biometric authentication and in-app blockchain wallets can offer frictionless transactions that fit XR’s immersive environments, whereas traditional methods like cash are decidedly not a good fit. The XR world often spans multiple platforms, devices and applications, necessitating payment solutions that operate across this fragmented landscape. Plus, as XR expands globally, payment systems must accommodate diverse currencies and local regulations. Read more : Meta Says It’s Solving AR Experiences — Who Will Solve AR Payments? XR Emerges as a Way to Leverage Spatial Data for AI Systems Certain observers believe that one of the bigger themes behind the tech sector’s push toward XR environments is the fact that XR systems rely on real-time spatial mapping to create interactive environments, using advanced sensors like LiDAR, cameras and motion detectors to map physical spaces with precision. This data is invaluable for AI (artificial intelligence) models. AI thrives on diverse, high-quality datasets, and spatial data from XR environments captures real-world nuances — depth, object positions and movement patterns — at a scale and precision that can be unattainable via traditional methods. Spatial data from XR can help AI systems gain context about the physical world, such as objects, their relationships and how users interact with them. This in turn helps to enhance AI’s own ability to make decisions based on environment-specific factors. For tech companies, XR is more than an immersive medium — it can serve as a data generation engine for AI systems. By leveraging spatial data, XR helps to accelerate the training, deployment and performance of AI in real-world applications. As the XR ecosystem grows, the synergy between AI and XR holds the potential to reshape industries, bridge physical and digital realms, and drive innovation on a global scale.TORONTO — Canada's main stock index ended Tuesday narrowly in the red, weighed down by losses in energy and base metals stocks, while U.S. markets moved higher. Investors digested the latest news from U.S. president-elect Donald Trump, who threatened sweeping new tariffs of 25 per cent on products from Canada and Mexico. The “sizable” tariff promise likely shocked markets somewhat right off the bat, said Mike Archibald, vice-president and portfolio manager with AGF Investments Inc. “But I think as people have kind of digested they've thought that this is probably a starting position from a bargaining standpoint,” he said. The announcement was in line with Trump’s tactics used during his first presidency, said Archibald. The S&P/TSX composite index closed down 5.21 points at 25,405.14. In New York, the Dow Jones industrial average was up 123.74 points at 44,860.31. The S&P 500 index was up 34.26 points at 6,021.63, while the Nasdaq composite was up 119.46 points at 19,174.30. A few Canadian companies saw their share prices drop because of the outsized impact such a tariff could have on certain sectors, said Archibald. These included Bombardier, BRP, Linamar and Magna International. “You can see the biggest losers on the market today are generally those that manufacture in either Canada and/or Mexico,” he said. But higher tariffs could also be inflationary for the U.S., said Archibald. Markets have been paring back their bets for interest rate cuts in the U.S. in the wake of the election in anticipation of potentially higher inflation. “It’s a bit too early to know,” said Archibald. Despite the uncertainty, he said markets are still poised to do well in the coming months thanks to Trump’s overall pro-business bent. “I still think the market is in a very good position to rally ... into the end of the year,” he said. “The S&P 500 is still going to do fairly well relative to other markets around the world.” The loonie fell to a four-year low before clawing back some of its losses later in the day, he noted. The Canadian dollar traded for 71.01 cents US compared with 71.53 cents US on Monday. The January crude oil contract was down 17 cents at US$68.77 per barrel and the January natural gas contract was up three cents at US$3.47 per mmBTU. The December gold contract was up US$2.80 at US$2,621.30 an ounce and the March copper contract was down four cents at US$4.12 a pound. — With files from The Associated Press This report by The Canadian Press was first published Nov. 26, 2024. Companies in this story: (TSX:GSPTSE, TSX:CADUSD) Rosa Saba, The Canadian PressI f you live in an English-speaking Caribbean country, do you consider yourself freer and more fortunate than many others around the world? In a world where freedoms are under siege—where journalists are imprisoned, political dissent is silenced, persons are jailed without trial, and religious leaders are persecuted—residents of the Commonwealth Caribbean enjoy liberties that are envied by many. Our nations stand as beacons of democracy and freedom. Yet, how often do we stop to reflect on the freedoms we enjoy? These rights are not only the foundation of individual dignity but also the pillars of national prosperity. And while we may take them for granted, they are far from guaranteed elsewhere in the world. Globally, the situation is dire. Over 320 journalists are imprisoned worldwide, according to the Committee to Protect Journalists. Thousands of political prisoners languish in detention for dissenting against oppressive regimes, while organisations like Open Doors document the persecution of religious leaders in several countries including Nicaragua and Iran. These grim realities highlight the freedoms that many in the world do not have. In contrast, the Commonwealth Caribbean is free of these injustices. Journalists work without fear of imprisonment, citizens practise their faiths openly, and political prisoners are not a feature of our democracies. Nations like Jamaica, Barbados, and Trinidad and Tobago rank among the freest in the world, supported by robust legal protections, free elections, and dynamic press freedoms. Antigua and Barbuda is also classified as “free” in Freedom House’s 2024 Freedom in the World Report, scoring 85 out of 100, with strong ratings in the categories of Political Rights and Civil Liberties. These freedoms are not only moral imperatives but also drivers of economic growth, as studies show that democratic nations achieve higher and more sustainable prosperity. Recognising shared responsibilities While the Commonwealth Caribbean has much to celebrate, freedoms are fragile and must be actively nurtured. This is a collective responsibility shared by governments, opposition parties, and citizens alike. As Nelson Mandela reminded us, “Freedom is indivisible; the chains on any one of my people were the chains on all of them.” Protecting freedom requires building strong institutions, ensuring transparency, and fostering accountability at every level of governance. You Might Be Interested In Shoring up good ideas I resolve to... Wellness for life: The importance of self-care Political parties play a critical role in this process. Governments must lead with integrity, adhering to truth and transparency to earn and sustain the trust of their people. Policies and decisions should be presented with clarity, grounded in reasoned argument and tangible benefits. At the same time, opposition parties must fulfil their responsibility to hold governments accountable constructively. This involves proposing viable alternatives and engaging in critiques that strengthen democratic institutions rather than undermine them. The misuse of freedoms to promote disinformation, spread division, or serve narrow political purposes undermines the very liberties that are central to democracy. This applies equally to all political actors. Democracy thrives when governments and opposition parties alike act in the public interest, building consensus and advancing shared goals. Better conditions demand action when rights are violated elsewhere Caribbean citizens, too, have a role to play. While it is their right to demand better services, it is important to recognise the financial, economic, and trade constraints faced by small, open economies. Governments must be held accountable for improving public services, but citizens must also balance these demands with an understanding of the broader challenges. Few stop to consider how much better off they are compared to those in conflict zones or under authoritarian regimes. This perspective does not excuse inefficiency or lack of accountability, but it encourages a responsible conversation about priorities, shared responsibilities, and the collective effort required to sustain freedoms and development. The stark realities of imprisoned journalists, political prisoners, and persecuted religious leaders globally should serve as a wake-up call to value and protect the freedoms enjoyed in the Caribbean. These freedoms are rare and precious. Internationally, the Caribbean also has a moral responsibility to champion these freedoms. The region’s leadership in organisations like the United Nations and the Organisation of American States should serve as an example of how small, free nations can amplify the principles of democracy and human rights. As Martin Luther King Jr warned us, “Injustice anywhere is a threat to justice everywhere.” That is why we must be mindful of the disastrous effects of corruption, weakened institutions, and the disregard for democratic practices in Haiti. These challenges have led to social and political instability, fostering lawlessness and human suffering. We must also remain deeply concerned about the immense suffering caused by conflicts around the world. In Sudan, a devastating war has claimed approximately 150 000 lives and displaced millions, leaving people to face starvation and disease. In the Democratic Republic of Congo, ongoing violence in the Kivu region has resulted in mass killings and the displacement of millions. These tragedies, alongside the war in Ukraine and the conflict between Israel and Palestinian groups, including the decimation of Gaza, remind us of the fragility of peace and the devastating cost of injustice. A collaborative call to action As free nations, we cannot ignore the suffering of others. These crises have shattered lives, undermined freedoms, and inflicted untold hardship. They demand our attention and our advocacy for a world where the rights and dignity of all people are protected. The freedoms enjoyed by the people of the Commonwealth Caribbean are the result of generations of struggle and sacrifice, from the abolition of slavery and the termination of indentured labour to the fight for independence. They are not self-sustaining; they require vigilance, courage, and a commitment to principles. Free, fair, and transparent elections must remain the bedrock of our democracies, and institutions that protect freedoms must be fortified. This is not just the responsibility of governments but of all who call these countries home. Sir Ronald Sanders is Antigua and Barbuda’s Ambassador to the US and the OAS. The views expressed are entirely his own.
Doha, Qatar: Minister of Social Development and Family (MSDF), HE Buthaina bint Ali Al Jabr Al Nuaimi, has honored the qualitative initiatives of private associations and institutions during a ceremony organized by MSDF within the framework of its unwavering support for partnership with them, in recognition of their vital operations that support the ministry's functions. Held in Doha today, the ceremony was attended by HE Deputy Speaker of the Shura Council Dr. Hamda bint Hassan Al Sulaiti, MSDF's Assistant Undersecretary for Social Development Affairs Fahd Mohammed Al Khayarin, alongside several chairpersons and members of the boards of directors of private associations and institutions, along with executive directors. The honoring ceremony came in recognition of the extraordinary efforts of private associations and institutions dedicated to serving the community and reinforcing the sustainable development, in addition to underscoring the importance of their role in fostering partnership with state institutions to achieve the national development goals. Those private associations and institutions undertake an instrumental role in advancing the local community, Al Khayarin underlined, adding that collaboration between the public and private sectors is a fundamental factor to achieve the Sustainable Development Goals (SDGs), since these qualitative initiatives reflect dedication and innovation in serving the society. Al Khayarin affirmed that he feels a sense of pride in the tangible milestones these projects have achieved, underlining that the ceremony came within the unyielding efforts devoted to fostering the role of private associations and institutions in executing development projects. He noted the MSDF's steadfast commitment to supporting these initiatives and providing an environment conducive for optimizing the level of offered social services. For his part, Director of the Private Associations and Institutions Department, Naji Al Aji, affirmed that supporting the qualitative initiatives aims to spur social institutions to continue offering innovative services and contribute to building far more cohesive and enduring communities. In addition, the ceremony witnessed the honoring of the associations that won outstanding initiatives, where the Qatar Livestock Society (ANAAM) snagged first place, followed by the Qatar Arabic Language Association in second place, and the Qatar Society of Engineers in third place. Supportive entities were also recognized, including the Ministry of Endowments (Awqaf) and Islamic Affairs' General Directorate of Endowments and, Qatar Charity (QC), associations participating in offering diverse initiatives, such as Qatar Society of Radio Amateurs (QARS), the Qatari Women Association for Economic Awareness & Investment, the Qatar Lawyers Association, the Qatar's Mental Health Friends Association and the Qatar Association of Certified Public Accountants. Honored were also members of the jury committee for their instrumental role in evaluating the initiatives and ensuring their compliance with standards. Additionally, numerous associations featured their salient achievements, and successful projects were highlighted in recognition for their contribution to improving the livelihood of the targeted segments.
METAIRIE, La. (AP) — Dejounte Murray plans to return to the New Orleans Pelicans ' lineup on Wednesday night for the first time since fracturing his left hand in a season-opening victory over Chicago on Oct. 23. Read this article for free: Already have an account? To continue reading, please subscribe: * METAIRIE, La. (AP) — Dejounte Murray plans to return to the New Orleans Pelicans ' lineup on Wednesday night for the first time since fracturing his left hand in a season-opening victory over Chicago on Oct. 23. Read unlimited articles for free today: Already have an account? METAIRIE, La. (AP) — Dejounte Murray plans to return to the New Orleans Pelicans ‘ lineup on Wednesday night for the first time since fracturing his left hand in a season-opening victory over Chicago on Oct. 23. And when Murray takes the court against the Toronto Raptors, his mother will be on his mind. After practice on Tuesday, Murray discussed his impending return and disclosed more details about the previously unspecified “personal matters” that caused him to leave the team during the final days of the preseason. His mother had a stroke, he said. “It was tough to leave and go deal with that. As she got better, she wanted me to come play,” Murray said of his last-minute decision to start against Chicago. He added that his hand injury near the end of that game was God’s way of telling him, “‘Nah, you need to stay with your mom.’” “I was more concerned about my mother. That was my priority,” Murray continued. “I wasn’t really worried about my recovery.” Murray’s mother has recovered well, he said, while he is “healthy and ready to help this team.” “I’m ready to hoop. Play for my mother — she’s going to be watching,” Murray said. “I’m ready to compete, bring that winning spirit.” The Pelicans (4-14) certainly could use the help, having lost 14 of 16 games since opening the season with a pair of victories. Winnipeg Jets Game Days On Winnipeg Jets game days, hockey writers Mike McIntyre and Ken Wiebe send news, notes and quotes from the morning skate, as well as injury updates and lineup decisions. Arrives a few hours prior to puck drop. Injuries have ravaged the roster. At times, all five starters have been out. Star power forward Zion Williamson has missed 12 games this season — one with an illness and 11 with a hamstring injury. Herb Jones has been sidelined by a shoulder strain and Brandon Ingram’s status is in doubt after he sat out practice on Tuesday with calf soreness that also sidelined him during a loss on Monday night at Indiana. But at least two starters — Murray and fellow guard CJ McCollum — are expected to play against the Raptors. “I don’t care how many games we’ve lost. I just know every time I step on the floor I feel like we can win games,” said Murray, who had 14 points, 10 assists and eight rebounds in his lone game with the Pelicans. “That’s just my mentality, and I feel like it can carry over to a lot of guys.” ___ AP NBA: https://apnews.com/hub/NBA Advertisement AdvertisementWASHINGTON — President-elect Donald Trump has identified what he sees as an all-purpose fix for what ails America: Slap huge new tariffs on foreign goods entering the United States. On Monday, Trump sent shockwaves across the nation's northern and southern borders, vowing sweeping new tariffs on Mexico, Canada , as well as China, as soon as he takes office as part of his effort to crack down on illegal immigration and drugs. In a pair of posts on his Truth Social site Trump railed against an influx of immigrants lacking permanent legal status, even though southern border apprehensions have been hovering near four-year lows. He said he would impose a 25% tax on all products entering the country from Canada and Mexico, and an additional 10% tariff on goods from China, as one of his first executive orders. He said the new tariffs would remain in place “until such time as Drugs, in particular Fentanyl, and all Illegal Aliens stop this Invasion of our Country!” The president-elect asserts that tariffs — basically import taxes — will create more factory jobs, shrink the federal deficit, lower food prices and allow the government to subsidize childcare. Economists are generally skeptical, considering tariffs to be a mostly inefficient way for governments to raise money. They are especially alarmed by Trump’s latest proposed tariffs. Carl B. Weinberg and Rubeela Farooqi, economists with High Frequency Economics said Tuesday that energy, automobiles and food supplies will be particularly hit hard. “Imposing tariffs on trade flows into the United States without first preparing alternative sources for the goods and services affected will raise the price of imported items at once," Weinberg and Farooqi wrote. "Since many of these goods are consumer goods, households will be made poorer.” High Frequency Economics believes the threats are not meant to support new trade policy and are instead a tool to elicit some changes along the borders and for imports from Canada, Mexico and China. Though Vice President Kamala Harris criticized Trump’s tariff threats as unserious during her failed bid for the presidency, the Biden-Harris administration retained the taxes the Trump administration imposed on $360 billion in Chinese goods. And it imposed a 100% tariff on Chinese electric vehicles. Indeed, the United States in recent years has gradually retreated from its post-World War II role of promoting global free trade and lower tariffs. That shift has been a response to the loss of U.S. manufacturing jobs, widely attributed to unfettered trade and an increasingly aggressive China. Tariffs are a tax on imports They are typically charged as a percentage of the price a buyer pays a foreign seller. In the United States, tariffs are collected by Customs and Border Protection agents at 328 ports of entry across the country. The tariff rates range from passenger cars (2.5%) to golf shoes (6%). Tariffs can be lower for countries with which the United States has trade agreements. For example, most goods can move among the United States, Mexico and Canada tariff-free because of Trump’s US-Mexico-Canada trade agreement. There's much misinformation about who actually pays tariffs Trump insists that tariffs are paid for by foreign countries. In fact, its is importers — American companies — that pay tariffs, and the money goes to U.S. Treasury. Those companies, in turn, typically pass their higher costs on to their customers in the form of higher prices. That's why economists say consumers usually end up footing the bill for tariffs. Still, tariffs can hurt foreign countries by making their products pricier and harder to sell abroad. Yang Zhou, an economist at Shanghai’s Fudan University, concluded in a study that Trump’s tariffs on Chinese goods inflicted more than three times as much damage to the Chinese economy as they did to the U.S. economy Tariffs are intended mainly to protect domestic industries By raising the price of imports, tariffs can protect home-grown manufacturers. They may also serve to punish foreign countries for committing unfair trade practices, like subsidizing their exporters or dumping products at unfairly low prices. Before the federal income tax was established in 1913, tariffs were a major revenue driver for the government. From 1790 to 1860, tariffs accounted for 90% of federal revenue, according to Douglas Irwin, a Dartmouth College economist who has studied the history of trade policy. Tariffs fell out of favor as global trade grew after World War II. The government needed vastly bigger revenue streams to finance its operations. In the fiscal year that ended Sept. 30, the government is expected to collect $81.4 billion in tariffs and fees. That's a trifle next to the $2.5 trillion that's expected to come from individual income taxes and the $1.7 trillion from Social Security and Medicare taxes. Still, Trump wants to enact a budget policy that resembles what was in place in the 19th century. He has argued that tariffs on farm imports could lower food prices by aiding America’s farmers. In fact, tariffs on imported food products would almost certainly send grocery prices up by reducing choices for consumers and competition for American producers. Tariffs can also be used to pressure other countries on issues that may or may not be related to trade. In 2019, for example, Trump used the threat of tariffs as leverage to persuade Mexico to crack down on waves of Central American migrants crossing Mexican territory on their way to the United States. Trump even sees tariffs as a way to prevent wars. “I can do it with a phone call,’’ he said at an August rally in North Carolina. If another country tries to start a war, he said he’d issue a threat: “We’re going to charge you 100% tariffs. And all of a sudden, the president or prime minister or dictator or whoever the hell is running the country says to me, ‘Sir, we won’t go to war.’ ” Economists generally consider tariffs self-defeating Tariffs raise costs for companies and consumers that rely on imports. They're also likely to provoke retaliation. The European Union, for example, punched back against Trump’s tariffs on steel and aluminum by taxing U.S. products, from bourbon to Harley-Davidson motorcycles. Likewise, China responded to Trump’s trade war by slapping tariffs on American goods, including soybeans and pork in a calculated drive to hurt his supporters in farm country. A study by economists at the Massachusetts Institute of Technology, the University of Zurich, Harvard and the World Bank concluded that Trump’s tariffs failed to restore jobs to the American heartland. The tariffs “neither raised nor lowered U.S. employment’’ where they were supposed to protect jobs, the study found. Despite Trump’s 2018 taxes on imported steel, for example, the number of jobs at U.S. steel plants barely budged: They remained right around 140,000. By comparison, Walmart alone employs 1.6 million people in the United States. Worse, the retaliatory taxes imposed by China and other nations on U.S. goods had “negative employment impacts,’’ especially for farmers, the study found. These retaliatory tariffs were only partly offset by billions in government aid that Trump doled out to farmers. The Trump tariffs also damaged companies that relied on targeted imports. If Trump’s trade war fizzled as policy, though, it succeeded as politics. The study found that support for Trump and Republican congressional candidates rose in areas most exposed to the import tariffs — the industrial Midwest and manufacturing-heavy Southern states like North Carolina and Tennessee.Jon M. Chu Embraced the Politics of ‘Wicked’ and Audiences Seeing It Through a Post-Election Lens
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The connected economy might be making a jump from end-users’ hands to their faces. That is, if Big Tech’s biggest representatives are to be believed. On Thursday (Dec. 12), Google introduced a new Android operating system (OS) built for extended reality (XR) devices like headsets and glasses, citing “years of investment” that will “transform how you watch, work and explore.” Extended reality (XR) — an umbrella term encompassing virtual reality (VR), augmented reality (AR) and mixed reality (MR) — continues to redefine how digital and physical worlds interact. Google’s XR OS was created in collaboration with Samsung and will first launch on headsets built by Samsung code-named “Project Moohan,” taken from the Korean word for “infinite.” Project Moohan joins the ranks of multiple XR headsets already available to consumers and businesses, such as Meta’s Quest 3 headset and Orion augmented reality (AR) glasses, the Apple Vision Pro headset and other products such as the XREAL Air AR glasses. On a fundamental level, the XR landscape presents a once-in-a-generation opportunity for payments innovation. XR applications in gaming, eCommerce, healthcare, education, the workplace and beyond will all demand seamless and secure payment solutions that match the promise of these technologies. Read more : AR and VR Have Potential to Reshape Wearable Tech Landscape Why Wearable Tech Needs Seamless Payments As XR grows, payments are likely to no longer be a mere utility but a critical enabler of its success. By addressing the unique needs of immersive environments, payment providers can enable new business models, build trust with users and redefine the boundaries of commerce in virtual and augmented realities. XR environments pose unique challenges for traditional payment systems. XR users expect transactions to blend naturally into their immersive experiences. Whether purchasing digital goods in a metaverse store or accessing subscription-based AR learning modules, payments must occur without disrupting the flow. The PYMNTS Intelligence study, “ The Online Features Driving Consumers to Shop With Brands, Retailers or Marketplaces ,” revealed that consumers expect interactive, customized commerce experiences. PYMNTS Intelligence research also found that a significant share of consumers are eager for VR to replicate the experience of brick-and-mortar shopping. Specifically, among the 95% of consumers who own or have access to at least one internet-connected device, one-third expressed a high level of interest in using VR technology to shop and buy retail products available in physical stores from their home or office. Voice-command payments, biometric authentication and in-app blockchain wallets can offer frictionless transactions that fit XR’s immersive environments, whereas traditional methods like cash are decidedly not a good fit. The XR world often spans multiple platforms, devices and applications, necessitating payment solutions that operate across this fragmented landscape. Plus, as XR expands globally, payment systems must accommodate diverse currencies and local regulations. Read more : Meta Says It’s Solving AR Experiences — Who Will Solve AR Payments? XR Emerges as a Way to Leverage Spatial Data for AI Systems Certain observers believe that one of the bigger themes behind the tech sector’s push toward XR environments is the fact that XR systems rely on real-time spatial mapping to create interactive environments, using advanced sensors like LiDAR, cameras and motion detectors to map physical spaces with precision. This data is invaluable for AI (artificial intelligence) models. AI thrives on diverse, high-quality datasets, and spatial data from XR environments captures real-world nuances — depth, object positions and movement patterns — at a scale and precision that can be unattainable via traditional methods. Spatial data from XR can help AI systems gain context about the physical world, such as objects, their relationships and how users interact with them. This in turn helps to enhance AI’s own ability to make decisions based on environment-specific factors. For tech companies, XR is more than an immersive medium — it can serve as a data generation engine for AI systems. By leveraging spatial data, XR helps to accelerate the training, deployment and performance of AI in real-world applications. As the XR ecosystem grows, the synergy between AI and XR holds the potential to reshape industries, bridge physical and digital realms, and drive innovation on a global scale.TORONTO — Canada's main stock index ended Tuesday narrowly in the red, weighed down by losses in energy and base metals stocks, while U.S. markets moved higher. Investors digested the latest news from U.S. president-elect Donald Trump, who threatened sweeping new tariffs of 25 per cent on products from Canada and Mexico. The “sizable” tariff promise likely shocked markets somewhat right off the bat, said Mike Archibald, vice-president and portfolio manager with AGF Investments Inc. “But I think as people have kind of digested they've thought that this is probably a starting position from a bargaining standpoint,” he said. The announcement was in line with Trump’s tactics used during his first presidency, said Archibald. The S&P/TSX composite index closed down 5.21 points at 25,405.14. In New York, the Dow Jones industrial average was up 123.74 points at 44,860.31. The S&P 500 index was up 34.26 points at 6,021.63, while the Nasdaq composite was up 119.46 points at 19,174.30. A few Canadian companies saw their share prices drop because of the outsized impact such a tariff could have on certain sectors, said Archibald. These included Bombardier, BRP, Linamar and Magna International. “You can see the biggest losers on the market today are generally those that manufacture in either Canada and/or Mexico,” he said. But higher tariffs could also be inflationary for the U.S., said Archibald. Markets have been paring back their bets for interest rate cuts in the U.S. in the wake of the election in anticipation of potentially higher inflation. “It’s a bit too early to know,” said Archibald. Despite the uncertainty, he said markets are still poised to do well in the coming months thanks to Trump’s overall pro-business bent. “I still think the market is in a very good position to rally ... into the end of the year,” he said. “The S&P 500 is still going to do fairly well relative to other markets around the world.” The loonie fell to a four-year low before clawing back some of its losses later in the day, he noted. The Canadian dollar traded for 71.01 cents US compared with 71.53 cents US on Monday. The January crude oil contract was down 17 cents at US$68.77 per barrel and the January natural gas contract was up three cents at US$3.47 per mmBTU. The December gold contract was up US$2.80 at US$2,621.30 an ounce and the March copper contract was down four cents at US$4.12 a pound. — With files from The Associated Press This report by The Canadian Press was first published Nov. 26, 2024. Companies in this story: (TSX:GSPTSE, TSX:CADUSD) Rosa Saba, The Canadian PressI f you live in an English-speaking Caribbean country, do you consider yourself freer and more fortunate than many others around the world? In a world where freedoms are under siege—where journalists are imprisoned, political dissent is silenced, persons are jailed without trial, and religious leaders are persecuted—residents of the Commonwealth Caribbean enjoy liberties that are envied by many. Our nations stand as beacons of democracy and freedom. Yet, how often do we stop to reflect on the freedoms we enjoy? These rights are not only the foundation of individual dignity but also the pillars of national prosperity. And while we may take them for granted, they are far from guaranteed elsewhere in the world. Globally, the situation is dire. Over 320 journalists are imprisoned worldwide, according to the Committee to Protect Journalists. Thousands of political prisoners languish in detention for dissenting against oppressive regimes, while organisations like Open Doors document the persecution of religious leaders in several countries including Nicaragua and Iran. These grim realities highlight the freedoms that many in the world do not have. In contrast, the Commonwealth Caribbean is free of these injustices. Journalists work without fear of imprisonment, citizens practise their faiths openly, and political prisoners are not a feature of our democracies. Nations like Jamaica, Barbados, and Trinidad and Tobago rank among the freest in the world, supported by robust legal protections, free elections, and dynamic press freedoms. Antigua and Barbuda is also classified as “free” in Freedom House’s 2024 Freedom in the World Report, scoring 85 out of 100, with strong ratings in the categories of Political Rights and Civil Liberties. These freedoms are not only moral imperatives but also drivers of economic growth, as studies show that democratic nations achieve higher and more sustainable prosperity. Recognising shared responsibilities While the Commonwealth Caribbean has much to celebrate, freedoms are fragile and must be actively nurtured. This is a collective responsibility shared by governments, opposition parties, and citizens alike. As Nelson Mandela reminded us, “Freedom is indivisible; the chains on any one of my people were the chains on all of them.” Protecting freedom requires building strong institutions, ensuring transparency, and fostering accountability at every level of governance. You Might Be Interested In Shoring up good ideas I resolve to... Wellness for life: The importance of self-care Political parties play a critical role in this process. Governments must lead with integrity, adhering to truth and transparency to earn and sustain the trust of their people. Policies and decisions should be presented with clarity, grounded in reasoned argument and tangible benefits. At the same time, opposition parties must fulfil their responsibility to hold governments accountable constructively. This involves proposing viable alternatives and engaging in critiques that strengthen democratic institutions rather than undermine them. The misuse of freedoms to promote disinformation, spread division, or serve narrow political purposes undermines the very liberties that are central to democracy. This applies equally to all political actors. Democracy thrives when governments and opposition parties alike act in the public interest, building consensus and advancing shared goals. Better conditions demand action when rights are violated elsewhere Caribbean citizens, too, have a role to play. While it is their right to demand better services, it is important to recognise the financial, economic, and trade constraints faced by small, open economies. Governments must be held accountable for improving public services, but citizens must also balance these demands with an understanding of the broader challenges. Few stop to consider how much better off they are compared to those in conflict zones or under authoritarian regimes. This perspective does not excuse inefficiency or lack of accountability, but it encourages a responsible conversation about priorities, shared responsibilities, and the collective effort required to sustain freedoms and development. The stark realities of imprisoned journalists, political prisoners, and persecuted religious leaders globally should serve as a wake-up call to value and protect the freedoms enjoyed in the Caribbean. These freedoms are rare and precious. Internationally, the Caribbean also has a moral responsibility to champion these freedoms. The region’s leadership in organisations like the United Nations and the Organisation of American States should serve as an example of how small, free nations can amplify the principles of democracy and human rights. As Martin Luther King Jr warned us, “Injustice anywhere is a threat to justice everywhere.” That is why we must be mindful of the disastrous effects of corruption, weakened institutions, and the disregard for democratic practices in Haiti. These challenges have led to social and political instability, fostering lawlessness and human suffering. We must also remain deeply concerned about the immense suffering caused by conflicts around the world. In Sudan, a devastating war has claimed approximately 150 000 lives and displaced millions, leaving people to face starvation and disease. In the Democratic Republic of Congo, ongoing violence in the Kivu region has resulted in mass killings and the displacement of millions. These tragedies, alongside the war in Ukraine and the conflict between Israel and Palestinian groups, including the decimation of Gaza, remind us of the fragility of peace and the devastating cost of injustice. A collaborative call to action As free nations, we cannot ignore the suffering of others. These crises have shattered lives, undermined freedoms, and inflicted untold hardship. They demand our attention and our advocacy for a world where the rights and dignity of all people are protected. The freedoms enjoyed by the people of the Commonwealth Caribbean are the result of generations of struggle and sacrifice, from the abolition of slavery and the termination of indentured labour to the fight for independence. They are not self-sustaining; they require vigilance, courage, and a commitment to principles. Free, fair, and transparent elections must remain the bedrock of our democracies, and institutions that protect freedoms must be fortified. This is not just the responsibility of governments but of all who call these countries home. Sir Ronald Sanders is Antigua and Barbuda’s Ambassador to the US and the OAS. The views expressed are entirely his own.
Doha, Qatar: Minister of Social Development and Family (MSDF), HE Buthaina bint Ali Al Jabr Al Nuaimi, has honored the qualitative initiatives of private associations and institutions during a ceremony organized by MSDF within the framework of its unwavering support for partnership with them, in recognition of their vital operations that support the ministry's functions. Held in Doha today, the ceremony was attended by HE Deputy Speaker of the Shura Council Dr. Hamda bint Hassan Al Sulaiti, MSDF's Assistant Undersecretary for Social Development Affairs Fahd Mohammed Al Khayarin, alongside several chairpersons and members of the boards of directors of private associations and institutions, along with executive directors. The honoring ceremony came in recognition of the extraordinary efforts of private associations and institutions dedicated to serving the community and reinforcing the sustainable development, in addition to underscoring the importance of their role in fostering partnership with state institutions to achieve the national development goals. Those private associations and institutions undertake an instrumental role in advancing the local community, Al Khayarin underlined, adding that collaboration between the public and private sectors is a fundamental factor to achieve the Sustainable Development Goals (SDGs), since these qualitative initiatives reflect dedication and innovation in serving the society. Al Khayarin affirmed that he feels a sense of pride in the tangible milestones these projects have achieved, underlining that the ceremony came within the unyielding efforts devoted to fostering the role of private associations and institutions in executing development projects. He noted the MSDF's steadfast commitment to supporting these initiatives and providing an environment conducive for optimizing the level of offered social services. For his part, Director of the Private Associations and Institutions Department, Naji Al Aji, affirmed that supporting the qualitative initiatives aims to spur social institutions to continue offering innovative services and contribute to building far more cohesive and enduring communities. In addition, the ceremony witnessed the honoring of the associations that won outstanding initiatives, where the Qatar Livestock Society (ANAAM) snagged first place, followed by the Qatar Arabic Language Association in second place, and the Qatar Society of Engineers in third place. Supportive entities were also recognized, including the Ministry of Endowments (Awqaf) and Islamic Affairs' General Directorate of Endowments and, Qatar Charity (QC), associations participating in offering diverse initiatives, such as Qatar Society of Radio Amateurs (QARS), the Qatari Women Association for Economic Awareness & Investment, the Qatar Lawyers Association, the Qatar's Mental Health Friends Association and the Qatar Association of Certified Public Accountants. Honored were also members of the jury committee for their instrumental role in evaluating the initiatives and ensuring their compliance with standards. Additionally, numerous associations featured their salient achievements, and successful projects were highlighted in recognition for their contribution to improving the livelihood of the targeted segments.