International trade

Pelosi's push to remove Big Tech protections in USMCA

Photo: Juan Carlos Lucas/NurPhoto via Getty Images

"House Speaker Nancy Pelosi is pushing to strip out sweeping legal protections for online content in the new trade pact with Mexico and Canada, in what would be a blow for big technology companies," the Wall Street Journal reports.

The big picture: There is ongoing debate over exporting the all-important Section 230 provision of the 1996 Communications Decency Act — which protects Facebook, Google and other platforms from legal responsibility for harmful content that its users post — across North America in a trade agreement.

Wilbur Ross says December tariff hike likely without China breakthrough

Wilbur Ross during a cabinet meeting
Commcerce Secretary Wilbur Ross during a cabinet meeting on Oct. 21. Photo: Alex Wong/Getty Images

Commerce Secretary Wilbur Ross said Monday on Fox Business that time is running out for the U.S. and China to agree on a trade deal before Dec. 15, when the U.S. is set to impose an additional 15% tariff on around $156 billion worth of Chinese goods.

Why it matters: Future tariff hikes would likely further squeeze the U.S. and Chinese economies, dragging down already declining business investment in the U.S. and possibly pushing the manufacturing industry into a deeper recession.