Germany bans arms exports to Turkey after military offensive against Kurds in Syria

Turkish President Recep Tayyip Erdogan and German Chancellor Angela Merkel exchange a handshake at the presidential palace during the first visit since July’s failed coup in Ankara, Turkey, February 2, 2017. REUTERS/Umit BektasGermany has banned arms exports to Turkey over its assault against Kurdish YPG militia in Syria, a foreign ministry spokeswoman said on Saturday. The United States and European Union have already warned Turkey of possible sanctions over the offensive. “Against the backdrop


Turkish President Recep Tayyip Erdogan and German Chancellor Angela Merkel exchange a handshake at the presidential palace during the first visit since July’s failed coup in Ankara, Turkey, February 2, 2017. REUTERS/Umit BektasGermany has banned arms exports to Turkey over its assault against Kurdish YPG militia in Syria, a foreign ministry spokeswoman said on Saturday. The United States and European Union have already warned Turkey of possible sanctions over the offensive. “Against the backdrop
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Company: cnbc, Activity: cnbc, Date: 2019-10-12
Keywords: news, cnbc, companies, bans, foreign, kurds, kurdish, syria, military, germany, arms, turkey, ypg, withdrew, president, minister, exports, turkish, offensive


Germany bans arms exports to Turkey after military offensive against Kurds in Syria

Turkish President Recep Tayyip Erdogan and German Chancellor Angela Merkel exchange a handshake at the presidential palace during the first visit since July’s failed coup in Ankara, Turkey, February 2, 2017. REUTERS/Umit Bektas

Germany has banned arms exports to Turkey over its assault against Kurdish YPG militia in Syria, a foreign ministry spokeswoman said on Saturday.

Turkey launched the military operation on Wednesday after U.S. President Donald Trump withdrew some U.S. troops who had been backing Kurdish forces in the fight against Islamic State.

The United States and European Union have already warned Turkey of possible sanctions over the offensive.

“Against the backdrop of the Turkish military offensive… , the Federal Government will not issue any new permits for all military equipment that could be used by Turkey in Syria”, Foreign Minister Heiko Maas said, according to the spokeswoman.

The comment confirmed a report in weekly Bild Am Sonntag.

Turkey’s foreign minister Mevlüt Cavusoglu said that his country was undeterred by bans or embargoes.


Company: cnbc, Activity: cnbc, Date: 2019-10-12
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Turkish forces capture center of key Syrian border town

Turkish forces captured a key Syrian border town under heavy bombardment Saturday, the Turkish military and a Syrian war monitor said, as Turkey’s offensive against Syrian Kurdish fighters pressed into its fourth day with little sign of relenting despite mounting international criticism. Syrian Kurdish forces appeared to be holding out in some areas of the town. Earlier in the day, Turkish troops moved to seize control of key highways in northeastern Syria, the Turkish military and the Observato


Turkish forces captured a key Syrian border town under heavy bombardment Saturday, the Turkish military and a Syrian war monitor said, as Turkey’s offensive against Syrian Kurdish fighters pressed into its fourth day with little sign of relenting despite mounting international criticism. Syrian Kurdish forces appeared to be holding out in some areas of the town. Earlier in the day, Turkish troops moved to seize control of key highways in northeastern Syria, the Turkish military and the Observato
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Turkish forces capture center of key Syrian border town

Smoke rises from the Syrian town of Ras al-Ain, in a picture taken from the Turkish side of the border in Ceylanpinar on October 11, 2019, on the third day of Turkey’s military operation against Kurdish forces.

Turkish forces captured a key Syrian border town under heavy bombardment Saturday, the Turkish military and a Syrian war monitor said, as Turkey’s offensive against Syrian Kurdish fighters pressed into its fourth day with little sign of relenting despite mounting international criticism.

Turkish troops entered central Ras al-Ayn according to Turkey’s Defense Ministry, marking the most significant gain since the invasion began Wednesday. The ministry tweeted: “Ras al-Ayn’s residential center has been taken under control through the successful operations in the east of Euphrates” river.

An Associated Press journalist across the border heard the sound of sporadic clashes as Turkish howitzers struck the town and Turkish jets screeched overhead.

Syrian Kurdish forces appeared to be holding out in some areas of the town.

The Kurdish Syrian Democratic Forces released two videos said to be from inside Ras al-Ayn, showing fighters saying that it is Saturday and they are still there.

The fighting was ongoing as the Kurdish fighters sought to reverse the Turkish advance into Ras Al-Ayn, the Syrian Observatory for Human Rights said.

The push deeper into northern Syria by Turkish troops came days after U.S. President Donald Trump cleared the way for Turkey’s air and ground invasion, pulling back U.S. forces from the area and saying he wanted to stop getting involved with “endless wars.”

Trump’s decision drew swift bipartisan criticism that he was endangering regional stability and risking the lives of Syrian Kurdish allies who brought down the Islamic State group in Syria. The Kurdish-led Syrian Democratic Forces was the main U.S. ally in the fight against the Islamic State group and had lost 11,000 fighters in the nearly five-year battle against the extremists.

Earlier in the day, Turkish troops moved to seize control of key highways in northeastern Syria, the Turkish military and the Observatory said.

Turkey’s state-run Anadolu news agency said that Turkey-backed Syrian opposition forces had taken control of the M-4 highway that connects the towns of Manbij and Qamishli.

The SDF said that Turkish troops and their Syrian allies reached the highway briefly before being pushed back again.

Turkish troops also cut the route linking the northeastern city of Hassakeh with Aleppo, Syria’s largest city and once commercial center, according to the Observatory.

Since Wednesday, Turkish troops and Syrian opposition fighters backed by Ankara have been advancing under the cover of airstrikes and artillery shelling, reaching the Manbij-Qamishli road about 30 kilometers (19 miles) south of the Turkish border.

Turkey has said it aims to push back the Syrian Kurdish People’s Protection Units, or YPG, which it considers terrorists for its links to a decades-long Kurdish insurgency within its own borders. The YPG is a main component of the SDF.

The U.N. estimated the number of displaced at 100,000 since Wednesday, saying that markets, schools and clinics also were closed. Aid agencies have warned of a humanitarian crisis, with nearly a half-million people at risk in northeastern Syria.

Turkish President Recep Tayyip Erdogan said Friday Turkey won’t stop until the Syrian Kurdish forces withdraw below a 32 kilometer (20 miles) deep line from the border.

The Turkish military aims to clear Syrian border towns of Kurdish fighters’ presence, saying they are a national security threat.


Company: cnbc, Activity: cnbc, Date: 2019-10-12
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US to send more forces to Saudi Arabia despite Trump’s pledge to reduce Middle East presence

The United States will send more forces into Saudi Arabia even as President Donald Trump says he wants to reduce American military involvement in the Middle East. Defense Secretary Mark Esper ordered the deployment of two more fighter squadrons and accompanying personnel to the oil-rich American ally, he told reporters Friday. “Taken together with other deployments I have extended or authorized within the last month, this involves about 3,000 United States forces,” the Pentagon chief said. The m


The United States will send more forces into Saudi Arabia even as President Donald Trump says he wants to reduce American military involvement in the Middle East. Defense Secretary Mark Esper ordered the deployment of two more fighter squadrons and accompanying personnel to the oil-rich American ally, he told reporters Friday. “Taken together with other deployments I have extended or authorized within the last month, this involves about 3,000 United States forces,” the Pentagon chief said. The m
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Company: cnbc, Activity: cnbc, Date: 2019-10-11  Authors: jacob pramuk
Keywords: news, cnbc, companies, middle, military, syria, send, secretary, presence, pledge, despite, united, forces, trumps, reduce, saudi, east, turkey, states, northern, defense


US to send more forces to Saudi Arabia despite Trump's pledge to reduce Middle East presence

The United States will send more forces into Saudi Arabia even as President Donald Trump says he wants to reduce American military involvement in the Middle East.

Defense Secretary Mark Esper ordered the deployment of two more fighter squadrons and accompanying personnel to the oil-rich American ally, he told reporters Friday. The U.S. will also deploy Patriot and Terminal High Altitude Area Defense missile defense systems.

“Taken together with other deployments I have extended or authorized within the last month, this involves about 3,000 United States forces,” the Pentagon chief said.

The move comes amid rising tensions in the Middle East sparked in part by Trump’s decision to pull troops from northern Syria. Earlier this week, Turkey launched airstrikes and artillery fire targeting U.S.-allied Kurdish forces in the area.

Esper also chastised Turkey on Friday for what he called an “impulsive action” to start the offensive in Syria.

“We oppose and are greatly disappointed by Turkey’s decision to launch a unilateral military incursion into northern Syria,” the Defense secretary said. He added that it has put the U.S. in a “tough situation,” due to its North Atlantic Treaty Organization ties to Turkey and allegiance with the Kurdish forces in Syria.


Company: cnbc, Activity: cnbc, Date: 2019-10-11  Authors: jacob pramuk
Keywords: news, cnbc, companies, middle, military, syria, send, secretary, presence, pledge, despite, united, forces, trumps, reduce, saudi, east, turkey, states, northern, defense


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Ukraine’s president says there was no blackmail in Trump call

U.S. President Donald Trump speaks as Ukrainian President Volodymyr Zelensky looks on during a meeting in New York on September 25, 2019, on the sidelines of the United Nations General Assembly. Ukraine’s President Volodymyr Zelensky said Thursday there was no blackmail involved during a telephone call with President Donald Trump that has since set in motion an impeachment inquiry. Speaking to reporters Thursday, Zelensky said the goal of the call with Trump was to arrange a meeting with the pre


U.S. President Donald Trump speaks as Ukrainian President Volodymyr Zelensky looks on during a meeting in New York on September 25, 2019, on the sidelines of the United Nations General Assembly. Ukraine’s President Volodymyr Zelensky said Thursday there was no blackmail involved during a telephone call with President Donald Trump that has since set in motion an impeachment inquiry. Speaking to reporters Thursday, Zelensky said the goal of the call with Trump was to arrange a meeting with the pre
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Company: cnbc, Activity: cnbc, Date: 2019-10-10  Authors: holly ellyatt
Keywords: news, cnbc, companies, meeting, phone, aid, ukraines, ukraine, blackmail, zelensky, president, house, trump, military, white


Ukraine's president says there was no blackmail in Trump call

U.S. President Donald Trump speaks as Ukrainian President Volodymyr Zelensky looks on during a meeting in New York on September 25, 2019, on the sidelines of the United Nations General Assembly.

Ukraine’s President Volodymyr Zelensky said Thursday there was no blackmail involved during a telephone call with President Donald Trump that has since set in motion an impeachment inquiry.

Zelensky has come under pressure to shed light on a phone call with Trump in July in which the U.S. president appeared to ask Ukraine to investigate former Vice President Joe Biden, a potential Democratic rival in the 2020 presidential race, and his son Hunter Biden who served on the board of a Ukrainian gas company Burisma.

Trump repeatedly tells Zelensky that the U.S. has been “very, very good” to Ukraine, a non-verbatim transcript of the call showed. Zelensky told him that Ukraine, a country that relies on international financial and defense aid and is vulnerable compared to its powerful Russian neighbor, would work on the investigation.

There are question marks over why around $400 million of military aid to Ukraine was put on hold by Trump ahead of the phone call between the presidents. Trump has denied any suggestions that the withholding of aid was to pressure Ukraine into investigating a political opponent.

Speaking to reporters Thursday, Zelensky said the goal of the call with Trump was to arrange a meeting with the president, according to comments reported by Reuters. He also said he told Trump that Ukraine was asking the White House to change its rhetoric on the country.

He said military aid to Ukraine was blocked before the phone call but said “our calls were not linked to Burisma or military aid” and said no conditions were attached to meeting Trump.

“I don’t want to interfere in U.S. elections,” Zelensky also said Thursday. He also said Ukraine was waiting for an official visit to the U.S.

The White House said Tuesday that it will not cooperate with House Democrats’ impeachment inquiry into Trump.


Company: cnbc, Activity: cnbc, Date: 2019-10-10  Authors: holly ellyatt
Keywords: news, cnbc, companies, meeting, phone, aid, ukraines, ukraine, blackmail, zelensky, president, house, trump, military, white


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Turkish President Erdogan confirms military operation in northern Syria has begun

Turkey has launched a military operation in northern Syria, Turkish President Recep Tayyip Erdogan said Wednesday, days after the Trump administration announced it would pull U.S. troops away from the area. “Turkish Armed Forces together with the Syrian National Army against PKK / YPG and Deash terrorist organizations in northern Syria #BarışPınarıHarekatı has started,” Erdogan wrote on Twitter, according to that site’s translation feature. “Our aim is to destroy the terror corridor which is try


Turkey has launched a military operation in northern Syria, Turkish President Recep Tayyip Erdogan said Wednesday, days after the Trump administration announced it would pull U.S. troops away from the area. “Turkish Armed Forces together with the Syrian National Army against PKK / YPG and Deash terrorist organizations in northern Syria #BarışPınarıHarekatı has started,” Erdogan wrote on Twitter, according to that site’s translation feature. “Our aim is to destroy the terror corridor which is try
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Company: cnbc, Activity: cnbc, Date: 2019-10-09  Authors: kevin breuninger
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Turkish President Erdogan confirms military operation in northern Syria has begun

A Syrian boy watches as Turkish military vehicles, part of a US military convoy, take part in joint patrol in the Syrian village of al-Hashisha on the outskirts of Tal Abyad town along the border with Turkey, on October 4, 2019.

Turkey has launched a military operation in northern Syria, Turkish President Recep Tayyip Erdogan said Wednesday, days after the Trump administration announced it would pull U.S. troops away from the area.

“Turkish Armed Forces together with the Syrian National Army against PKK / YPG and Deash terrorist organizations in northern Syria #BarışPınarıHarekatı has started,” Erdogan wrote on Twitter, according to that site’s translation feature.

“Our aim is to destroy the terror corridor which is trying to be established on our southern border and to bring peace and peace to the region,” Erdogan tweeted.

“With the Operation Spring of Peace, we will eliminate the threat of terrorism towards our country. Thanks to the SAFE ZONE we will establish, we will ensure that Syrian refugees return to their countries. We will protect the territorial integrity of Syria, and free the people of the region from the clutches of terror,” he tweeted.

Turkey’s long-expected incursion in northern Syria came less than a week after Trump spoke with Erdogan on the phone. After the call, the White House announced that “Turkey will soon be moving forward with its long-planned operation into Northern Syria” and “United States forces, having defeated the ISIS territorial ‘Caliphate,’ will no longer be in the immediate area.”

The abrupt foreign policy move was met with immediate bipartisan criticism. Lawmakers of both major political parties accused the Trump administration of abandoning the Kurdish forces in the area who helped the U.S. fight ISIS forces. Turkey and Kurdish groups have clashed for years, and Ankara has recently signaled that it planned to carry out operations against the Kurds near Syria’s northern border with Turkey.

Mustafa Bali, a spokesman for the U.S.-backed Syrian Democratic Forces — a mostly Kurdish group of soldiers fighting ISIS — tweeted Wednesday that “Turkish warplanes have started to carry out airstrikes on civilian areas.”

Trump took to Twitter to justify the decision to withdraw.

“It is time for us to get out of these ridiculous Endless Wars, many of them tribal, and bring our soldiers home,” Trump tweeted Monday. “WE WILL FIGHT WHERE IT IS TO OUR BENEFIT, AND ONLY FIGHT TO WIN.”


Company: cnbc, Activity: cnbc, Date: 2019-10-09  Authors: kevin breuninger
Keywords: news, cnbc, companies, confirms, operation, president, turkey, turkish, peace, syrian, begun, syria, military, trump, erdogan, forces, northern


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Turkey to launch a planned military operation in northern Syria, US says

Turkey is preparing to launch a military operation in northern Syria, and the United States will withdraw its troops in the area ahead of the attack, a statement from U.S. press secretary Stephanie Grisham said. “Turkey will soon be moving forward with its long-planned operation into Northern Syria,” the statement late Sunday night said, adding that President Donald Trump had spoken to his Turkish counterpart Recep Tayyip Erdogan by phone. “The United States Armed Forces will not support or be i


Turkey is preparing to launch a military operation in northern Syria, and the United States will withdraw its troops in the area ahead of the attack, a statement from U.S. press secretary Stephanie Grisham said. “Turkey will soon be moving forward with its long-planned operation into Northern Syria,” the statement late Sunday night said, adding that President Donald Trump had spoken to his Turkish counterpart Recep Tayyip Erdogan by phone. “The United States Armed Forces will not support or be i
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Company: cnbc, Activity: cnbc, Date: 2019-10-07  Authors: joanna tan
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Turkey to launch a planned military operation in northern Syria, US says

Turkey is preparing to launch a military operation in northern Syria, and the United States will withdraw its troops in the area ahead of the attack, a statement from U.S. press secretary Stephanie Grisham said.

“Turkey will soon be moving forward with its long-planned operation into Northern Syria,” the statement late Sunday night said, adding that President Donald Trump had spoken to his Turkish counterpart Recep Tayyip Erdogan by phone. “The United States Armed Forces will not support or be involved in the operation, and United States forces, having defeated the ISIS territorial ‘Caliphate,’ will no longer be in the immediate area.”

Earlier this year, Turkey said it will go ahead with its military offensive against Kurdish militias in northeastern Syria regardless of whether the U.S. withdraws its troops from the country. Ankara has already amassed thousands of Turkish troops along its border with Syria.

Reuters reported Saturday that Erdogan said military operations — both air and ground — taking place east of the Euphrates river in Syria, could begin any time.

The terror group ISIS, or the so-called Islamic State of Iraq and the Levant, swept across Syria and Iraq in 2014 and captured vast swathes of territory in the region in the ensuing years.

The U.S. supports Kurds in northern Syria that helped retake some of that territory, but Turkey has always rejected the legitimacy of the Kurdish presence in Syria. Turkey has long fought Kurdish rebels within its own borders and regularly targets Kurdish groups in Iraq.

“Turkey will now be responsible for all ISIS fighters in the area captured over the past two years in the wake of the defeat of the territorial ‘Caliphate’ by the United States,” the press secretary’s statement said.

— CNBC Natasha Turak contributed to this report.


Company: cnbc, Activity: cnbc, Date: 2019-10-07  Authors: joanna tan
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Trump: Others have to ‘figure the situation out’ after US announces withdrawal from northern Syria

A picture taken on December 30, 2018, shows a line of US military vehicles in Syria’s northern city of Manbij. He added: “Turkey, Europe, Syria, Iran, Iraq, Russia and the Kurds will now have to figure the situation out, and what they want to do with the captured ISIS fighters in their ‘neighborhood.'” “Turkey will soon be moving forward with its long-planned operation into Northern Syria. U.S.-backed Kurds in the region have held ISIS fighters, and have been credited with helping defeat the ISI


A picture taken on December 30, 2018, shows a line of US military vehicles in Syria’s northern city of Manbij. He added: “Turkey, Europe, Syria, Iran, Iraq, Russia and the Kurds will now have to figure the situation out, and what they want to do with the captured ISIS fighters in their ‘neighborhood.'” “Turkey will soon be moving forward with its long-planned operation into Northern Syria. U.S.-backed Kurds in the region have held ISIS fighters, and have been credited with helping defeat the ISI
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Trump: Others have to 'figure the situation out' after US announces withdrawal from northern Syria

A picture taken on December 30, 2018, shows a line of US military vehicles in Syria’s northern city of Manbij.

President Donald Trump on Monday struggled to explain his decision to pull U.S. troops away from Syria’s northern border area, where neighboring Turkey is expected to launch military operations against Kurdish soldiers there.

Trump’s decision came despite recommendations of top Pentagon and State Department officials and drew sharp criticism from some of his closest allies.

In a series of tweets, Trump complained that European allies were treating America as a “sucker” by not taking responsibility for some captured Islamic State fighters. He also said the Kurds, who fought ISIS in the region, have been paid “massive amounts of money and equipment” by the U.S.

“It is time for us to get out of these ridiculous Endless Wars, many of them tribal, and bring our soldiers home,” Trump tweeted. “WE WILL FIGHT WHERE IT IS TO OUR BENEFIT, AND ONLY FIGHT TO WIN.”

He added: “Turkey, Europe, Syria, Iran, Iraq, Russia and the Kurds will now have to figure the situation out, and what they want to do with the captured ISIS fighters in their ‘neighborhood.'”

Late Sunday, White House press secretary Stephanie Grisham announced that the U.S. would withdraw from the Syrian-Turkish border.

“Turkey will soon be moving forward with its long-planned operation into Northern Syria. The United States Armed Forces will not support or be involved in the operation, and United States forces, having defeated the ISIS territorial ‘Caliphate,’ will no longer be in the immediate area,” Grisham said in a statement following a call between Trump and Turkish President Recep Tayyip Erdogan.

The statement also said “Turkey will now be responsible for all ISIS fighters in the area captured over the past two years.”

Some of Trump’s Republican allies were quick to attack the president’s latest decision on the U.S. military presence in Syria. Sen. Lindsey Graham, R-S.C., one of Trump’s closest confidants, went on Fox News to call the move “short-sighted and irresponsible” and said he would draw up a resolution urging Trump to reconsider.

Republican Sen. Marco Rubio of Florida said withdrawal would be a “grave mistake.”

Former Arkansas Gov. Mike Huckabee, whose daughter served as White House press secretary under Trump, said it is a “HUGE mistake” to stop supporting the Kurds. “We CANNOT abandon them,” he said in a tweet.

U.S.-backed Kurds in the region have held ISIS fighters, and have been credited with helping defeat the ISIS caliphate. Turkey’s expected incursion in northern Syria, however, has been criticized as an apparent attempt to attack the Kurds amid years of conflict between the nation and the group.

A Syrian Kurdish official said in a statement to NBC News that the U.S. has “abandoned us to a Turkish massacre.”

“We can no longer fight against isis and have to defend ourselves. This could allow isis to return to the region,” the official said.

— CNBC’s Natasha Turak contributed to this report.


Company: cnbc, Activity: cnbc, Date: 2019-10-07  Authors: kevin breuninger
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China’s military warns protesters they may be arrested for targeting Hong Kong barracks with laser light

Why an easy way to help boost your credit score could end up…Credit limit increases are touted as a way to increase your credit score. But when a person’s credit limit increases, the amount of credit they use and the amount of credit… Spendread more


Why an easy way to help boost your credit score could end up…Credit limit increases are touted as a way to increase your credit score. But when a person’s credit limit increases, the amount of credit they use and the amount of credit… Spendread more
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Company: cnbc, Activity: cnbc, Date: 2019-10-06
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China's military warns protesters they may be arrested for targeting Hong Kong barracks with laser light

Why an easy way to help boost your credit score could end up…

Credit limit increases are touted as a way to increase your credit score. But when a person’s credit limit increases, the amount of credit they use and the amount of credit…

Spend

read more


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These are the taxes Elizabeth Warren has proposed in the 2020 race

Excessive Lobbying TaxWarren’s Excessive Lobbying Tax aims to deter corporations and trade organizations from influencing government through high spending. The money raised from the taxes would be committed to Warren’s “Lobbying Defense Trust Fund,” dedicated to strengthening government against the influence of lobbyists. The tax would exist in conjunction with the overall corporate tax rate, which Warren hopes will raise $1 trillion over the next 10 years. If she were to win the presidency, a c


Excessive Lobbying TaxWarren’s Excessive Lobbying Tax aims to deter corporations and trade organizations from influencing government through high spending. The money raised from the taxes would be committed to Warren’s “Lobbying Defense Trust Fund,” dedicated to strengthening government against the influence of lobbyists. The tax would exist in conjunction with the overall corporate tax rate, which Warren hopes will raise $1 trillion over the next 10 years. If she were to win the presidency, a c
These are the taxes Elizabeth Warren has proposed in the 2020 race Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-05  Authors: jordan mcdonald
Keywords: news, cnbc, companies, warrens, corporate, lobbying, 2020, tax, firms, taxes, million, military, rate, elizabeth, plan, proposed, warren, race


These are the taxes Elizabeth Warren has proposed in the 2020 race

Democratic presidential candidate, Sen. Elizabeth Warren (D-MA) addresses the crowd at the 2019 South Carolina Democratic Party State Convention on June 22, 2019 in Columbia, South Carolina. Sean Rayford | Getty Images

Presidential candidate Sen. Elizabeth Warren, D-Mass., has garnered a reputation during the campaign as a liberal firebrand with a plan for everything. Her crusade against the wealthy of America has rankled donors and politicians in the upper echelons of both the Democratic and Republican parties but has resonated with potential voters ahead of the Democratic primaries. Here’s a look at the taxes Warren plans to enact if she wins the White House in 2020:

Ultra-Millionaire Tax

On the campaign trail, Warren’s Ultra-Millionaire Tax has become her signature and most popular policy. The plan would call for a 2% tax on every dollar a household makes above $50 million, which would increase to a 3% tax for households earning above $1 billion. Warren projects her plan would raise more than $2.75 trillion in a 10-year span, which would allow her to finance some of the more ambitious parts of her agenda, such as universal child care, free public college and the cancellation of all student debt. Americans with a net worth over $50 million who renounce their citizenship to dodge the tax will be subject to a 40% “exit tax.”

Excessive Lobbying Tax

Warren’s Excessive Lobbying Tax aims to deter corporations and trade organizations from influencing government through high spending. It would tax firms that spend between $500,000 and $1 million on lobbying at a rate of 35%, which increases to a 60% rate on firms that spend above $1 million and 75% on firms that spend above $5 million. The money raised from the taxes would be committed to Warren’s “Lobbying Defense Trust Fund,” dedicated to strengthening government against the influence of lobbyists.

Real Corporate Profits Tax

Warren’s zeal for taking on big corporations in the wake of the 2008 financial crisis sent her to the forefront of financial reform, and her tax on corporate profits is yet another way she plans to tax wealth. The 7% corporate tax would apply to every dollar above $100 million that a company reports in profits. The tax would exist in conjunction with the overall corporate tax rate, which Warren hopes will raise $1 trillion over the next 10 years.

Increase in Social Security contributions for the top 2%

A significant part of Warren’s policy agenda includes the expansion of Social Security, which she hopes will be the biggest increase to the retirement program in 50 years. Warren’s plan intends to give current and future recipients $200 more per month. It would be financed by a 14.8% contribution requirement on individual wages above $250,000 as well as a 14.8% contribution requirement on net investment income for individuals making more than $250,000 and families making more than $400,000.

Rollback of Tax Cuts and Jobs Act

The 2017 Tax Cuts and Jobs Act was one of the biggest and most controversial bills passed by the Trump administration. Warren joined a chorus of opponents to the bill who considered it a giveaway to corporations. If she were to win the presidency, a core part of her agenda would be rolling back the legislation and restoring the previous corporate tax rate.

Increased tax rate for gun manufacturers

Warren’s policy calls for an increase in taxes on guns from 10% to 30%, while ammunition would be taxed at a rate of 50%. The money raised from the tax would fund gun violence research and prevention, while reinforcing existing gun laws.

Increasing accountability for private equity firms

Warren also has her sights set on the private equity industry. Her plan is not specific on costs or rates yet, but her Wall Street reform plan promises to change tax rules so that firms “that make bad investments would be held accountable instead of walking away from the wreckage with millions in fees and payouts.”

Moving military contractors to carbon net-zero emissions

As part of her climate change agenda, Warren aims to have the military achieve carbon net-zero emissions by 2030. Military contractors will also have to meet this standard, and those who don’t will pay a fee amounting to 1% of the total value of the contract, which will be reinvested into improving military infrastructure.

‘Medicare for All’


Company: cnbc, Activity: cnbc, Date: 2019-10-05  Authors: jordan mcdonald
Keywords: news, cnbc, companies, warrens, corporate, lobbying, 2020, tax, firms, taxes, million, military, rate, elizabeth, plan, proposed, warren, race


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Are Russia and China the best of friends now? It’s complicated, analysts say

MAXIM SHIPENKOV | AFP | Getty ImagesRussia and China appear to be increasing their economic, political and military ties amid poor relations with the West. While U.S. trade relations with China have soured, as each slap billions of dollars’ worth of tariffs on each other’s goods, trade relations between China and Russia are blossoming. Economic tiesStrengthening economic ties is a large part of warm Sino-Russia relations. Despite making vows to increase bilateral trade, the economic relationship


MAXIM SHIPENKOV | AFP | Getty ImagesRussia and China appear to be increasing their economic, political and military ties amid poor relations with the West. While U.S. trade relations with China have soured, as each slap billions of dollars’ worth of tariffs on each other’s goods, trade relations between China and Russia are blossoming. Economic tiesStrengthening economic ties is a large part of warm Sino-Russia relations. Despite making vows to increase bilateral trade, the economic relationship
Are Russia and China the best of friends now? It’s complicated, analysts say Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-09-27  Authors: holly ellyatt
Keywords: news, cnbc, companies, ties, relations, chinese, military, trade, complicated, best, russia, china, say, russian, growth, economic, friends, analysts


Are Russia and China the best of friends now? It's complicated, analysts say

Russian President Vladimir Putin and his Chinese counterpart Xi Jinping enter a hall during a meeting at the Kremlin in Moscow on June 5, 2019. MAXIM SHIPENKOV | AFP | Getty Images

Russia and China appear to be increasing their economic, political and military ties amid poor relations with the West. But the relationship is far more nuanced than it first appears with strengths and weaknesses on both sides, experts note. While U.S. trade relations with China have soured, as each slap billions of dollars’ worth of tariffs on each other’s goods, trade relations between China and Russia are blossoming. Chinese President Xi Jinping even called Russian President Vladimir Putin his “best friend” in an uncharacteristic display of warm relations during a state visit to Russia this summer. Xi also promised Putin that China was “ready to go hand in hand with you” and the leaders signed statements committing to “the development of strategic cooperation and comprehensive partnership” between their nations and “strengthening strategic stability (which) includes international issues of mutual interest, as well as issues of global strategic stability.”

Economic ties

Strengthening economic ties is a large part of warm Sino-Russia relations. Last week, Russian and Chinese news agencies reported that the two countries want to double their trade over the next five years, to $200 billion by 2024 — up from $107 billion worth of trade in 2018 — by implementing joint projects in fields of energy, industry and agriculture.

Despite making vows to increase bilateral trade, the economic relationship between Russia and China is not a marriage of equals. The International Monetary Fund expects Russia’s economy to grow 1.2% in 2019; China, meanwhile, is expected to 6.3%. It’s no surprise then that Russia sees China as a massive growth market at a time when its trade with western nations is sorely restricted. Russia is still subject to economic sanctions for its annexation of Crimea from Ukraine in 2014, as well as interference in the 2016 U.S. election and the nerve agent poisoning of a former double agent in the U.K. With that in mind, it makes sense that Russia is seeking an economic — and geopolitical — partner and ally to the East. Their pledge to increase trade comes amid “a bifurcation in the U.S. and China’s spheres of influence,” Cailin Birch, global economist at the Economist Intelligence Unit, told CNBC Thursday. “Obviously, the U.S. and China have no love lost between them and it would make much more sense for Russia to seek to build ties with this massive emerging market which will be a source of growth, in the way that the U.S. won’t be going forward, and with whom they don’t have the same political conflicts, and that presents a lot more opportunities to the Russian market for Russian energy products and developing their economic ties,” she noted. For China, a partner like Russia that would “set the U.S. slightly ill at ease would be hugely beneficial,” she added. Russia also has something that China needs in abundance – energy. Russia is among the world’s top three producers of oil and natural gas whereas China is the second largest crude oil importer in the world. “China is the main source of new energy consumption for fossil fuels particularly, and having a strong partner on its doorstep that’s ramping up its production of crude oil, the fabrication of LNG (liquefied natural gas) and the shipping of that all around the world, would also be beneficial to China,” Birch said.

Russia-China war games

Security and defense is another area where Russia and China have ostensibly sought to build ties and experts agree that Russia has more practical military experience than China. Just last week, China’s ‘People’s Liberation Army’ was one of seven foreign forces (including India and Pakistan) invited to join Russia’s “Tsentr 2019” massive military drills that took place across a swathe of Russia. It was the second year China has participated, and its continued involvement is seen as significant by experts like Richard Weitz, senior fellow and director of the Center for Political-Military Analysis at Hudson Institute. “Chinese and Russian national security communities share common objectives that can be promoted through further cooperation, such as border security, military technology development, and counterterrorism,” he told CNBC on Monday. “They also perceive threats from U.S. and allied positions and policies that they can cooperate to thwart, such as U.S. missile defenses and Western military intervention in regional hotspots. They conversely see opportunities to expand their influence at the expense of the United States, including by undermining U.S. bilateral and multilateral alliances.”

Best of enemies?

The old adage that “my enemy’s enemy is my friend” could be applied currently when it comes to China and Russia’s relationship with the U.S. right now. Sino-U.S. relations are currently more acrimonious than those between Russia and the U.S, given the lack of resolution to the trade dispute,. For China, President Trump’s decision to up-end the status quo when it came to Sino-U.S. trade — because of what he has seen as unfair trade practices — and to impose billions of dollars’ worth of tariffs on Chinese imports as a result, has dented its economic growth and potential. Against this backdrop, boosting Sino-Russia bilateral trade could open a door to growth for both Moscow and Beijing as lawmakers and officials confront trade barriers like sanctions and imports tariffs elsewhere. “There’s a growing consensus that a partnership between Russia and China is quite a powerful force, led by China rather than Russia, but that between the two of them they could represent quite a powerful bloc and I think the U.S. is growing increasingly concerned by that,” the EIU’s Birch noted. She added that “Russia would be the junior partner based on size of market and its prospect for growth so obviously in that sense, Russia would be pulled into China’s sway slightly.”

China-Russia: A threat or not?


Company: cnbc, Activity: cnbc, Date: 2019-09-27  Authors: holly ellyatt
Keywords: news, cnbc, companies, ties, relations, chinese, military, trade, complicated, best, russia, china, say, russian, growth, economic, friends, analysts


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