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US Presidential Race Heats Up as Biden and Trump Make Moves

At present, the smell of gunpowder in the US presidential election is getting stronger and stronger. According to Bloomberg News, on July 19 local time, US President Biden announced three latest federal actions, including updating antitrust enforcement guidelines to reduce the cost of living of the American people, in an attempt to seek to win the 2024 presidential election. win re-election.

At the same time, former U.S. President Trump stated in a newly released video that if he is re-elected as U.S. president, he will ask Europe to pay for U.S. aid to Ukraine. Trump also lashed out at Biden, accusing the Biden administration of failing to ask Europe for arms reimbursement, “showing that Biden is too weak and disrespected to even ask for it.”

In addition, at the most dangerous moment, US treasury bonds were once violently sold. On July 18, Eastern Time, the U.S. Department of the Treasury released the latest report on international capital flows (TIC), which showed that in May this year, China and Japan sold a total of 52.4 billion U.S. dollars (about 380 billion yuan) of U.S. debt. At that time, the deadlock of the U.S. debt ceiling was approaching the final moment, and the market even worried about the risk of U.S. debt default.

Biden announced

According to Bloomberg News, on July 19 local time, US President Biden announced three latest federal actions, including updating antitrust enforcement guidelines to reduce the cost of living of the American people in an attempt to win re-election in the 2024 presidential election.

According to reports, Biden proposed at a White House event in the United States on Wednesday to form a partnership with state attorneys general to combat agricultural price gouging and try to reduce housing rents. Among them, Zillow, Apartments.com, and AffordableHousing.com will launch new website features that will show potential tenants the costs associated with applying to rent a specific apartment, which the White House believes is important in the tight rental market in the United States.

The U.S. government has sought to increase market competition and lower the cost of everyday life for Americans through a series of regulatory actions, legal proposals and public lobbying by companies to change policies.

Biden’s announcement also included the release of new draft guidance on the government’s merger review, which will enter a public comment period for the next 60 days.

In addition, the report said that in recent months, the Biden administration has tried to prevent resorts from charging for items such as pool towels, force airlines to pay travelers for lodging when flights are cancelled, prevent concert ticket suppliers from adding extra fees at checkout, prevent banks from imposing overdraft fees when ATMs show money in accounts, and prohibit hospitals from charging additional out-of-network bills.

Biden’s presidential campaign believes the moves could help reverse polls on Biden’s handling of the economy.

A survey by the Global Strategy Group for Navigator Research, a polling group, found that three-quarters of registered voters support the proposals, including a strong majority of Republicans and independents.

But Republican pollster Robert Blizzard warned that the risk for Biden running for president is that if voters still have poor expectations for the U.S. economy, they will think that Biden is not looking at the big picture and is taking small, innocuous steps.

Trump suddenly angry

The smell of gunpowder in the US presidential election is getting stronger. On July 18, local time, former U.S. President Trump stated in a newly released video that if he is re-elected President of the United States, he will ask Europe to pay for U.S. aid to Ukraine.

In the video, Trump once again lashed out at Biden. “Currently, the U.S. arsenal is empty and we have a corrupt, compromised president — Joe Biden — who dragged us into World War III,” he said.

Trump said that Europe’s assistance to Ukraine was not worth mentioning, and accused the Biden administration of not asking Europe for reimbursement of weapons, showing that Biden was “too weak and disrespected to even ask for it.”

Trump also criticized the Biden administration for supplying Ukraine with cluster munitions, claiming that the move was further dragging the United States into World War III.

Biden had previously defended the measure, saying that by supplying Ukraine with cluster munitions, it would provide a transition period for the United States to produce more conventional munitions.

Biden said: “This is a war related to arms. Their ammunition is running out, and our ammunition (is) running out.” He emphasized that the United States will only provide cluster munitions to Ukraine during the transition period of supplementing conventional ammunition.

In response to Biden’s defense, Trump also launched a ruthless attack: According to Biden, the United States should not hand over the last U.S. stockpile to Ukraine when its stockpile of weapons has been reduced to such a dangerous level.

Trump has a negative attitude towards aiding Ukraine. He once claimed that once he returned to the White House, he would resolve the Ukrainian crisis within 24 hours.

According to media reports, the current Ukrainian government is very worried about Trump’s re-election to the White House. Officials in the country believe that if Trump takes office again, the United States is likely to significantly reduce its support for Ukraine.

Crazy throw 380 billion

On July 18, Eastern Time, the U.S. Department of the Treasury released the latest International Capital Flows Report (TIC), which showed that in May of this year, Japan’s holdings of U.S. Treasury bonds amounted to $1.0968 trillion, a sharp decrease of $30.4 billion from April .

In addition, as of May this year, China’s holdings of U.S. debt amounted to US$846.7 billion, the second largest overseas holding country after Japan.

This means that the two major “creditors” in the United States sold a total of US$52.4 billion (about 380 billion yuan) in US debt in May.

It should be pointed out that in May this year, the U.S. debt ceiling drama once fell into the most dangerous moment, and the market worried about the risk of U.S. debt default. In the end, the two parties in the United States reached a debt agreement at the last minute before the debt ceiling X was triggered in early June.

In addition, according to TIC data, in May when the debt ceiling crisis intensified, only four of the top ten countries and regions with the largest holdings of U.S. debt increased their holdings of U.S. debt. Except for Canada, which increased its holdings by US$18.8 billion, the others only slightly increased their holdings. Luxembourg, Switzerland and Ireland increased their holdings by US$1.7 billion, US$6.1 billion, and US$200 million respectively.

The TIC report also shows that the flow of overseas investment funds in US assets reversed in May. Including investment in US long-term and short-term securities and bank flows, the net outflow of overseas funds in May was 167.6 billion US dollars (about 1.2 trillion yuan). Among them, the net outflow of funds from overseas private investors was US$168.2 billion, and the net inflow of funds from overseas official institutions such as central banks and sovereign wealth funds was US$600 million.

Separately, foreign residents reduced their holdings of U.S. Treasury bills by $17.7 billion in May, while their holdings of short-term U.S. securities and other custody liabilities denominated in dollars fell by $57.6 billion.

The potential default risk of U.S. debt has made the world’s major central banks continue to increase their gold holdings in May. According to data released earlier by the World Gold Council, except for Turkey, the central banks of other countries and regions were net buyers of gold in May.

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