In the political arena, a judge rules that Trump has committed fraud. Now the West will have to decide whether to proceed with the transfer of Russian sovereign assets seized for the reconstruction of Ukraine.
In economics, the United States seeks less dependence on Chinese technology in electric vehicles. In turn, India has significant assets that make it easier for it to attract investments and compete with China.
In the business sphere, the Federal Trade Commission sues Amazon. TikTok is under scrutiny by the authorities.
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Policy
- A New York judge ruled Tuesday that Donald J. Trump had consistently committed fraud by overvaluing his assets, and stripped the former president of control over some of his iconic New York properties. The state Attorney General has argued that Mr. Trump inflated the value of his properties by up to $2.2 billion and is seeking a fine of about $250 million in a trial scheduled to begin Monday.
- Western countries froze $300 billion worth of Russian sovereign assets in response to the large-scale invasion of Ukraine in February last year. Penny Pritzker, special representative of the president of the United States for the reconstruction of the country, stated that these assets should be used for the recovery of Ukraine after the war, supporting one of Kiev’s central demands.
Economy
- Starting next year, consumers who buy new electric vehicles will not be able to use the $7,500 tax credit on cars that contain battery components from any source the United States considers a “foreign entity of concern,” seeking to reduce U.S. dependence on batteries. and Chinese materials. However, if the rules are too rigorous, few, if any, electric vehicles will be eligible for the tax credit, which could leave Americans without that incentive to transition to electric vehicles.
- American companies are accelerating a gradual process of diversification, partly in response to the need to protect themselves against the risks associated with geopolitical tensions between Washington and Beijing. In turn, India seeks to take advantage of its geopolitical position and its extensive domestic market with the aim of consolidating itself as a power in the manufacturing industry.
Business
- In a lawsuit filed Tuesday, the Federal Trade Commission argued that Amazon used its market dominance to restrict competition, accusing the company of using illegal tactics to control online shopping in a way that inhibited competition and raised prices. for consumers, as well as costs for sellers. Amazon announced it would challenge the lawsuit, saying it misinterprets how the retail industry operates and how its policies benefit consumers.
- TikTok has been under scrutiny by US authorities over concerns that the Chinese government could pressure the platform to access user data or use the app for propaganda purposes, even though TikTok has repeatedly denied such allegations. . However, a number of high-level executives have transitioned from ByteDance to TikTok, taking on key roles, which could indicate a greater involvement in TikTok than they have publicly revealed.
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