Oct 27, 2017

Report: U.S.-China pipeline deal could be big for U.S. jobs

President Donald Trump meets with Chinese President Xi Jinping at the G20 Summit. Photo: Evan Vucci / AP

President Trump is negotiating with China Petroleum & Chemical Corp. on a multibillion-dollar energy investment that "would bring thousands of new jobs to hurricane-ravaged areas in Texas and the U.S. Virgin Islands," per a Bloomberg report.

Why it matters: Per Bloomberg, the deal "may provide a political boost" to Trump, who spoke frequently about bringing jobs and investments back to the U.S. While the deal still needs approval from U.S. and China, Bloomberg reports it would cut the trade deficit between the U.S. and China by $10 billion annually. Trump is expected to travel to China November 8-10 with representatives from around 40 different companies to "sign deals for billions of dollars in U.S. investments, per Bloomberg.

Go deeper

Pelosi warns U.S. allies against working with China's Huawei

Nancy Pelosi on Feb. 16. Photo: Sven Hoppe/picture alliance via Getty Images

House Speaker Nancy Pelosi on Sunday cautioned U.S. allies against allowing Chinese telecommunications giant Huawei to develop their 5G networks, arguing at the Munich Security Conference that doing so is akin to “choosing autocracy over democracy," CNBC reports.

Why it matters: Pelosi's hawkish stance marks a rare area of agreement with the Trump administration, which believes Huawei is a national security threat because the Chinese government may be capable of accessing its equipment for espionage.

Go deeperArrow1 hour ago - World

Judge sets "scheduling" conference call ahead of Roger Stone sentencing

Photo: Win McNamee/Getty Images

U.S. District Judge Amy Berman Jackson has requested a Feb. 18 "scheduling" conference call in the Roger Stone case, two days before the former Trump associate is set to be sentenced.

Why it matters: Stone's defense team on Friday filed a sealed motion for a new trial — the second time they've done so — amid allegations of juror bias and a growing controversy over Attorney General Bill Barr's intervention in the case.

Biden says Bloomberg's money can't "erase" his record

Photo: Alex Wong/Getty Images.

Former Vice President Joe Biden said on NBC's "Meet the Press" Sunday that Michael Bloomberg's vast fortune cannot "erase" his record, and that scrutiny of Bloomberg's positions on things like race and policing will ramp up now that he's in the national spotlight.

Why it matters: Biden's polling free fall in the wake of poor performances in Iowa and New Hampshire has coincided with a surge for Bloomberg, who appeals to a similar moderate bloc of the Democratic Party. The billionaire's limitless spending capacity poses an especially stark threat to Biden, who has struggled with fundraising.