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Stocks gain...Economists concerned...OK to gas guzzle?

August 20, 2018

TOKYO (AP) — Global stocks were mostly higher Monday as investors welcomed signs of progress in resolving the trade dispute between the U.S. and China. The Wall Street Journal reported the countries hope to have a resolution by November. Futures point to possible opening gains on Wall Street. U.S. benchmark crude oil was flat at just below $66 a barrel. The dollar rose against the yen and fell against the euro.

WASHINGTON (AP) — U.S. business economists are concerned about the risks of some of President Donald Trump’s economic policies, saying they fear his tariffs and higher budget deficits could eventually slow the economy. More than 90 percent of economists surveyed by the National Association for Business Economics in a report being released Monday said they think the Trump administration’s current and threatened tariffs will harm the economy.

WASHINGTON (AP) — A major new policy statement from the Trump administration says conserving oil is no longer an economic imperative for the U.S.. It threatens to undermine decades of government campaigns for gas-thrifty cars and other conservation programs. The position was outlined in a memo released last month in support of the administration’s proposal to relax fuel mileage standards. The government released the memo online this month without fanfare.

WASHINGTON (AP) — Fishermen off the Alaskan coast. A Florida maker of boat trailers. A building materials distributor in Tennessee. Those and hundreds of other American businesses are delivering the same plea to President Donald Trump as he considers imposing tariffs on nearly 40 percent of imported Chinese goods: Don’t do it. The Trump administration will hold six days of hearings starting Monday in Washington on the next barrage in an escalating trade war between the world’s two largest economies.

UNDATED (AP) — Concerned that expanded sports gambling will bring additional costs for ensuring their games are on the up-and-up, college athletic departments are looking for a way to get a piece of the action. Schools in states where legal wagering has started or soon will are considering joining professional sports leagues in pursuing legislation requiring sports book operators to pay them a cut of the amount wagered on their games. College officials say the “integrity fees” would help fund beefed-up programs educating athletes about unscrupulous activities.

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