SaveSave story

EPA issues ethanol-friendly fuel proposal

Nati Harnik / AP

The EPA issued a new proposal Wednesday for biofuel quotas, including...

  • Dropping targets for alternative biofuel (cellulosic and advanced biofuels) to 19.24 billion gallons in 2018 from 19.28 billion this year, per The Hill.
  • Requiring U.S. refiners to use 15 billion gallons of renewable fuels in 2018 — that's the same as the 2017 requirement, per Bloomberg.

Breaking that down: The oil camp wanted smaller quotas, so Midwest corn farmers and biofuel producers are feeling pretty good right now, although they had hoped for higher quotas for alternative biofuels. Plus, this fulfills Trump's campaign promises to support ethanol, which he said was "under siege" just a few weeks ago.

Why it matters: These quotas affect industry dynamics and have implications for the environment. The announcement also reflects Iowa's outsized influence, as ethanol is always a major issue in the presidential caucus. The EPA will be taking public comment on the issue before its November deadline.

Ina Fried 59 mins ago
SaveSave story

Craigslist pulls personal ads after passage of sex-trafficking bill

Online classified site Craigslist has pulled its entire personal ad section after Congress passed a new sex-trafficking bill that puts more liability on Web sites.

Why it matters: Smaller tech companies and advocates for sex workers had feared a chilling effect if the bill becomes law.

Khorri Atkinson 3 hours ago
SaveSave story

China slaps reciprocal tariffs on U.S. imports

China's President Xi Jinping speaks next to President Trump. Photo: Nicolas Asfouri// AFP / Getty Images

China announced plans to impose reciprocal tariffs on $3 billion of imports from the U.S., hours after President Trump ordered levies on a range of Chinese goods.

The details: China's plan includes a 25% tariff on U.S. pork imports as well as 15% tariffs on American steel pipes, fruit and wine, according to Bloomberg.