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Biden Asks CEOs How To Further Boost The Economy While Trump Says Business Is On His Side
Washington — On the campaign road, President Joe Biden likes to take a firm stance against corporate America.
The Democrat urges people that companies should pay more taxes, and he criticizes many businesses for driving up prices by inciting “greedflation” and “shrinkflation.”
However, during the past several months, top Biden administration officials have increased their outreach to CEOs and other corporate leaders, inquiring about their needs. Former President Donald Trump, the likely Republican nominee, believes the business community to be his home turf.
Both candidates want to message voters heading into November that they can work with employers, even if the deeply divided electorate has made many businesses hesitant of overtly picking sides politically.
The Biden team’s pitch to business executives goes like this: We believe the economy is doing well, but we’d like to hear from you about how we might encourage investment.
Biden | AP News Image
Biden Asks CEOs How To Further Boost The Economy While Trump Says Business Is On His Side
“They know that they will always be heard,” said Lael Brainard, director of the White House National Economic Council. “We are pragmatic. “We solve problems for them.”
On Thursday, Trump will make his case to the Business Roundtable, an organization of more than 200 CEOs, about why the economy would benefit if he returned to the presidency.
Biden was also invited to appear, but he will be in Italy for a Group of Seven conference of world leaders. White House chief of staff Jeff Zients, a former CEO, will present the president’s vision to the group.
Biden has consistently worked to strike a balance between business and labor interests. He mitigates his criticism of corporations by noting that, as a former senator from Delaware, he hails from the “corporate capital of the world.”
Trump, for his part, has built his reputation as a millionaire property developer by marketing everything from educational courses to steaks and neckties. He also has his eponymous Trump Media & Technology Group listed on the stock market.
Trump, who lowered corporate taxes throughout his reign and promised to reduce regulations, has gathered backing from Wall Street billionaires such as Stephen Schwarzman, who described him as a “vote for change.”
The Washington Post reported that Trump had encouraged oil business executives to assist in funding his campaign in exchange for the profits his administration would generate for them, a claim that the Trump campaign denied.
Despite this year’s growing stock market and low 4% unemployment rate, Trump has branded the US economy as “horrible.” His message resonates with voters because of the 2022 inflation rise, which has left many Americans gloomy about the economy.
Trump campaign spokeswoman Karoline Leavitt stated that “business leaders and working families alike are eager for the return of these common-sense policies” such as tax reduction, deregulation, and greater oil and natural gas production.
During their business outreach, Biden’s top advisers heard a different economic perspective than what Trump is proposing. According to administration officials, the CEOs they’ve spoken with are largely pleased with the performance of the stock market and the overall economy, as inflation has dropped without the recession that some had predicted.
According to the Biden team, American business leaders are seeking strategies to prolong growth. There aren’t enough skilled workers to fill the offered positions. Government permitting should be expedited. They also generally support the administration’s push to prolong a business tax benefit for R&D costs.
Biden | AP News Image
Biden Asks CEOs How To Further Boost The Economy While Trump Says Business Is On His Side
According to many Biden administration officials, corporate leaders have raised concerns about Trump, despite the fact that the White House-CEO discussions have not expressly addressed the November election. Trump’s tariff increases risk disrupting trade partnerships and harming company profitability. Stocks and bonds might plummet if Trump attempts to seize control of politically independent bodies like the Federal Reserve or undermines the rule of law, which has long been a pillar of American capitalism.
Biden’s staff extended its outreach at the request of Zients. The chief of staff invited six other top officials to a February dinner with the purpose of developing a plan to communicate more with CEOs and their predecessors.
Each official pledged to speak to ten CEOs. By the end of April, the group had spoken with over 100 people. In May, Biden met with eight CEOs, including those of United Airlines, Marriott, Xerox, Corning, and Citigroup, as a result of his outreach.
Deputy Treasury Secretary Wally Adeyemo said he left the discussions with a better understanding of how issues overlapped. Renewable energy measures implemented by the administration, for example, were critical in the development of artificial intelligence data centers.
Adeyemo stated that the government has had some progress in decreasing the federal paperwork required for permitting, resulting in shorter processing periods that could otherwise take two years. And, with certain employment initiatives losing funds linked to pandemic-era federal aid, the administration is examining if businesses can take over the financing.
The administration makes a big-picture argument that its plans are better for overall growth, which in turn is good for profits.
“One of the things we don’t do is pretend we’re going to agree with the business community on everything,” Adeyemo stated. “We want feedback and we’re going to continue to talk to you.”
According to those familiar with the discussions at the Biden meeting, Brendan Bechtel, CEO of the Bechtel Group, a major construction company, emphasized the shortage of trained labor. Because corporations cannot hire everyone they require, some are forced to forego business in ways that reduce their revenues.
Biden | AP News Image
Biden Asks CEOs How To Further Boost The Economy While Trump Says Business Is On His Side
According to Labor Department estimates, there are currently 1.5 million more job vacancies than unemployed persons looking for work. And, as job positions have gone unfilled over the last year due to a labor shortage, employers have reduced their postings. Manufacturing companies, for example, have 516,000 unfilled positions, compared to 647,000 a year ago.
The shortfall is a result of both a strong employment market and decades of education systems that promoted universities while sometimes overlooking the need for tradesmen like electricians, plumbers, and welders. The ratio of males aged 25 to 54 in the work force has been declining for decades, and reversing that trend might bring millions back into the labor force.
“In the U.S., we got into a college-for-all mentality and other forms of skill development were demoted,” said Harry Holzer, a Georgetown University economist.
Commerce Secretary Gina Raimondo has made it a mission to bring more women into construction, and the success of her department’s funding efforts to resuscitate domestic computer chip production may be dependent on a huge pool of qualified workers. She stated that fixing the problem will require better collaboration with the employing industry.
“You need to start with the employers — which might sound not intuitive,” Raimondo stated. “You go to the company and figure out who they’re going to hire at what wages and what skills.”
Raimondo saw the problem from an economic standpoint, since companies would experience slower growth if they lacked skilled people. However, she also sees it as a cultural and political issue. One of Biden’s promises as he pursues a second term is that voters should feel positive about their chances of entering the middle class.
SOURCE – (AP)
Pierre Poilievre, the Conservative Leader, has accused Prime Minister Justin Trudeau of sowing “divisions” that culminated in the violent altercation between Sikh separatists and Hindu devotees outside a Hindu temple in Brampton, Ontario.
Justin Trudeau initiated the question period by condemning Poilievre’s reticence regarding the violence in South Asian communities as “deafening.”
Poilievre refuted the assertion by accusing Trudeau of exploiting the matter to divert attention from domestic economic concerns.
“Consequently, he implements divisions in his residence.” Poilievre stated, “These divisions are the consequence of his actions.”
“Currently, sectarian riots are occurring on the streets of Brampton.” This has never occurred before the tenure of this prime minister. Is he accountable for the divisions he has incited and the ensuing violence?
Trudeau Must Assume Responsibility
Mr. Pierre Poilievre, the Conservative Leader, requested that the Prime Minister assume responsibility for the divisions and violence in Canada. In response, Prime Minister Justin Trudeau addressed Poilievre’s refusal to obtain security clearance to review foreign interference documents.
Trudeau, who has frequently employed a phrase in the question period recently, urged Poilievre to undergo the security clearance procedure to receive a briefing from Canada’s intelligence and security agencies regarding potential threats to the country.
Trudeau’s remarks exacerbate an already precarious police situation, which has the potential to further deteriorate the diplomatic relationship between Canada and India.
Police dispersed a second day of demonstrations outside a Hindu temple in Brampton, Ontario, on Monday. The temple has been the site of violent clashes that have resulted in arrests and a public safety alert.
During the Indian consular officials’ visit to the Hindu Sabha Mandir temple in Brampton on Sunday at midday, violence erupted.
Peel Regional Police issued a public safety alert on Monday evening regarding the presence of weapons at a demonstration near a Hindu temple in Brampton, Ont. The demonstration had been the site of violent clashes between demonstrators the previous day.
Canada India Tensions
Social media videos depict demonstrators holding banners in support of Pro-Khalistan separatism, a proposed independent Sikh homeland in northern India, and engaging in physical altercations with other individuals, some of whom are holding India’s national flag.
Later, an off-duty Sergeant of the Peel police in Brampton, Ontario, was identified as one of the pro-Khalistan protesters.
In the interim, the violence prompted Indian Prime Minister Narendra Modi to make a rare comment during a period of escalating diplomatic tensions between the two countries.
“I unequivocally condemn the intentional destruction of a Hindu temple in Canada.” “The cowardly attempts to intimidate our diplomats are equally appalling,” he shared on social media.
No amount of violence will ever undermine India’s resolve. We anticipate that the Canadian government will maintain the rule of law and ensure justice.
Last September, Trudeau expressed that there were credible allegations that the Indian government was involved in the assassination of Sikh activist Hardeep Singh Nijjar in Canada, which marked the beginning of the deterioration of relations between the two countries. India has vigorously denied the charge.
A Brampton, Ontario, police officer was suspended on Monday following the viralization of a video on social media that showed him participating in a pro-Khalistan protest outside a Hindu temple.
According to CBC News, the suspended Peel Regional Police officer, Harinder Sohi, was videotaped brandishing a Khalistan flag while other participants in the protest chanted anti-India slogans. He was not wearing a police uniform.
Sohi served as a Sergeant for the Peel Regional Police.
In an email to CBC News, Media Relations Officer Richard Chin informed the organization that it is “aware of a video circulating on social media that depicts an off-duty Peel Police officer participating in a demonstration.”
“This officer has since been suspended in accordance with the Community Safety and Policing Act,” according to him.
“We are investigating the circumstances in totality depicted in the video and are unable to provide further information until this investigation is complete.”
Peel Regional Police have previously stated that three individuals have been charged in connection with the violence that occurred during the visit of Indian consular officials to the Hindu Sabha Mandir temple on Sunday.
Social media videos appear to depict demonstrators holding banners in support of Khalistan, a proposed independent Sikh homeland in northern India, and engaging in a physical altercation with other individuals, some of whom are holding India’s national flag.
The videos appear to depict fist battles and individuals striking each other with poles on the grounds outside the Hindu Sabha Mandir temple.
According to Peel police, the event was ultimately relocated to two additional locations in the neighboring city of Mississauga, where additional demonstrations were also conducted.
Peel police acknowledged the protest on Sunday at noon and announced that they had increased their presence at the Hindu Sabha Mandir temple to preserve public safety and order.
“We acknowledge the right to peacefully and safely protest; however, we will not tolerate criminal activities or violence,” stated Chief Nishan Duraiappah in response to the videos’ dissemination.
“Those that do participate in this activity will be pursued, arrested, and charged.”
The violence elicited condemnations from Canadian political leaders at all levels of government and also prompted Indian Prime Minister Narendra Modi to make a rare comment during a period of escalating diplomatic tensions between the two countries.
Prime Minister Narendra Modi expressed his concern regarding the “deliberate attack” and requested accountability from the Canadian government, which Justin Trudeau heads. He anticipated that the government would uphold the rule of law and ensure justice.
PM Modi expressed his strong condemnation of the deliberately targeted assault on a Hindu temple in Canada in a post on X. The contemptible endeavors to intimidate our diplomats are equally repulsive. No amount of violence will ever be able to undermine India’s resolve.
In the interim, the Minister of External Affairs (MEA) expressed its “profound concern” regarding the safety and security of Indian nationals in Canada, and it anticipates that those who engage in violence will be prosecuted.
The Hindu Sabha Temple in Brampton, Ontario, was the site of violent acts committed by separatists and extremists yesterday. We condemn these actions. “We urge the Canadian government to guarantee that all places of worship are safeguarded from such attacks,” stated Randhir Jaiswal, the spokesperson for the MEA.
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India Slams Trudeau Over Pro-Khalistani Sikhs Attack
India Slams Trudeau Over Pro-Khalistani Sikhs Attacking Canadian Hindus
Police in Brampton, Ontario, were summoned to the Hindu Temple after a group of pro-Khalistanis Sikhs attacked Hindu worshipers on Sunday. According to the Hindu Canadian Foundation, supporters of the Khalistaani movement in Canada helped to carry out the “attack.”
Following its posting on X, a video of the attack with demonstrators brandishing Khalistan flags at the Hindu Temple’s front entrance quickly became viral, inciting indignation among the Hindu community in Canada and India.
Chandra Arya, a Liberal MP from Canada, denounced the violence and claimed that under the country’s “freedom of expression,” extremists are getting away with it.
According to Arya, he began to think there might be some truth to the claims that Khalistanis have successfully infiltrated Canada’s law enforcement forces and political machinery.
Today, Canadian Khalistani fanatics have crossed a line. The attack by Khalistanis on Hindu-Canadian worshipers within the Hindu Sabha temple’s grounds demonstrates the extent and blatantness of Khalistani violent extremism in Canada.
In a post on X, he stated, “I start to believe that there is a sliver of truth in the reports that Khalistanis have successfully infiltrated not only our political apparatus but also our law enforcement agencies.”
It is understandable why Khalistani fanatics are receiving a free pass in Canada under the guise of “freedom of expression.” As I’ve been saying for a while, Hindu Canadians must stand up, defend their rights, and hold politicians responsible for the safety and security of our community,” he continued.
Peel Regional Police said they were aware of the demonstration in the city’s northeast and are investigating the situation.
The Canadian Charter of Rights and Freedoms states, “We respect the individual right to protest, but it is still our duty and responsibility to maintain public order and ensure everyone’s safety. ” Therefore, we request the public’s help participating in and supporting a nonviolent and legal protest.
Peel police warned that any acts of violence, threats of violence, or vandalism would be looked into and said they would be more visible and present to keep an eye on the situation.
Taking his X account, Brampton Mayor Patrick Brown also conveyed his dissatisfaction after learning of the “acts of violence” outside the Hindu Sabha.
“In Canada, religious freedom is a fundamental virtue. In their house of worship, everyone ought to feel secure. Brown stated in his letter that he is “completely confident that Peel police will do everything in their authority to keep the peace and hold those accountable who commit acts of violence.” “I strongly condemn any acts of violence outside of a place of worship,” Brown added.
“The violence at the Hindu Sabha Mandir in Brampton was unacceptable,” Canadian Prime Minister Justin Trudeau also posted on X.
Every Canadian has the right to freely and securely follow their religion. “Swiftly responding to protect the community and investigate this incident” was how he praised the cops.
As Ottawa frequently rejected New Delhi’s demands for tough measures against Khalistani radicals in Canada, the incident took place during a time of poor relations between India and Canada. Instead, it sparked a huge diplomatic dispute by accusing India of targeting Khalistani people inside its borders.
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