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      in Elections

      U.S. Farmers Brace for New Trump Trade Wars Amid Tariff Threats

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      Despite their concerns, some farm operators still support the former president and prefer his overall economic plan.To former President Donald J. Trump, “tariff” is the most beautiful word in the dictionary.But to farmers in rural America, the blanket import duties that Mr. Trump wants to enact if elected are a nightmare that they would rather not live through again.As president, Mr. Trump imposed tariffs in 2018 and 2019 on $300 billion of Chinese imports, a punishment he wielded in order to get China to negotiate a trade deal with the United States. His action triggered a trade war between Washington and Beijing, with China slapping retaliatory tariffs on American products. It also shifted more of its soybean purchases to Brazil and Argentina, hurting U.S. soybean farmers who had long relied on the Chinese market.When Mr. Trump finally announced a limited trade deal in 2019, American farmers were frazzled and subsisting on subsidies that the Trump administration had handed out to keep them afloat.Now it could happen all over again.“The prospect of additional tariffs doesn’t sound good,” said Leslie Bowman, a corn and soybean farmer from Chambersburg, Pa. “The idea of tariffs is to protect U.S. industries, but for the agricultural industry, it’s going to hurt.”The support of farmers in swing states such as Pennsylvania could be pivotal in determining the outcome of Tuesday’s election. Mr. Trump remains popular in rural America, and voters such as Mr. Bowman say they are weighing a variety of factors as they consider whom to vote for.Mr. Trump has said that if he wins the election he will put tariffs as high as 50 percent on imports from around the world. Tariffs on Chinese imports could be even higher, and some foreign products would face levies upward of 200 percent. Economists have warned that such tariffs could reignite inflation, slow economic growth and harm the industries that Mr. Trump says he wants to help.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

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      Elon Musk’s SpaceX, Already a Leader in Satellites, Gets Into the Spy Game

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      The Pentagon needs what the company offers to compete with China even as it frets over its potential for dominance and the billionaire’s global interests.The breakthrough came last month, about 600 miles above Earth.For the first time, the Pentagon’s Space Development Agency used lasers transmitting data at light speed to communicate between military satellites on a secure network, making it easier to track enemy missiles and if necessary shoot them down.It was a milestone not only for the Pentagon. This was a defining moment for a certain up-and-coming military contractor that had built key parts of this new system: Elon Musk’s SpaceX.SpaceX over the last year started to move in a big way into the business of building military and spy satellites, an industry that has long been dominated by major contractors like Raytheon and Northrop Grumman as well as smaller players like York Space Systems.This shift comes as the Pentagon and U.S. spy agencies are preparing to spend billions of dollars to build a series of new constellations of low-earth-orbit satellites, much of it in response to recent moves by China to build its own space-based military systems.SpaceX is poised to capitalize on that, generating a new wave of questions inside the federal government about the company’s growing dominance as a military space contractor and Mr. Musk’s extensive business operations in China and his relations with foreign government leaders, possibly including President Vladimir V. Putin of Russia. Mr. Musk is also unpredictable in a sector in which security is often perceived to be synonymous with predictability. He chafes at many of the processes and rules of government, saying they hold back progress, and wants to make his own calls.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

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      China’s Latest Security Target: Halloween Partygoers

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      Last year, the Shanghai government said Halloween celebrations were a sign of “cultural tolerance.” This year, the police rounded up people in costume.Social media videos verified by The New York Times showed police in Shanghai escorting away people dressed in costumes.The police escorted the Buddha down the street, one officer steering him with both hands. They hurried a giant poop emoji out of a cheering dance circle in a public park. They also pounced on Donald J. Trump with a bandaged ear, and pushed a Kim Kardashian look-alike, in a tight black dress and pearls, into a police van, while she turned and waved to a crowd of onlookers.The authorities in Shanghai were on high alert this past weekend, against a pressing threat: Halloween.Officials there clamped down on Halloween celebrations this year, after many young people turned last year’s festivities into a rare public outlet for political or social criticism. People had poured into the streets dressed up as Covid testing workers, to mock the three years of lockdowns they had just endured; they plastered themselves in job advertisements, amid a weak employment market; they cross-dressed, seizing the opportunity to express L.G.B.T.Q. identities without being stigmatized.At the time, many on Chinese social media celebrated the revelries as a joyous form of collective therapy. The Shanghai government even issued a news release saying the celebrations were proof of the city’s “cultural tolerance” and the “wisdom of its urban managers.”“There is an absence of festivals in China solely dedicated to the simple pleasures of having fun,” it said. “Halloween has filled the void.”But the authorities have grown increasingly restrictive toward personal expression in recent years, including seemingly apolitical expression. They are also wary of impromptu crowds, especially after the anti-lockdown protests in 2022. And so, for all their praise last year, this year they seemed determined to prevent a repeat.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

    • 150 Shares157 Views

      in US Politics

      Chinese hackers collected audio from a Trump campaign adviser’s calls – report

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      Chinese state-affiliated hackers intercepted audio from the phone calls of US political figures, including an unnamed campaign adviser of Donald Trump, the Washington Post reported Sunday.Various media outlets reported on Friday that the Trump campaign was made aware last week that the Republican presidential candidate and his running mate JD Vance were among a number of people inside and outside of government whose phone numbers were targeted through the infiltration of Verizon phone systems.The FBI and the US cybersecurity and infrastructure security agency confirmed they were investigating unauthorized access to commercial telecommunications infrastructure by people associated with China, though they did not not name the Trump campaign in the statement.Reuters later reported that Chinese hackers also targeted phones used by people affiliated with the campaign of Kamala Harris.The Post now reports that the hackers were able to access audio from a phone call from a Trump campaign adviser, as well as unencrypted communications such as text messages of the individual.Trump’s campaign and the FBI did not immediately respond to a request for comment.The Trump campaign was hacked earlier this year. The US justice department charged three members of Iran’s Revolutionary Guard Corps with the hack, accusing them of trying to disrupt the 5 November election.Verizon said on Friday it was aware of a sophisticated attempt to target US telecoms and gather intelligence and is working with law enforcement.Congress is also investigating and earlier this month US lawmakers asked AT&T, Verizon and Lumen Technologies to answer questions about reports Chinese hackers accessed the networks of US broadband providers.The Chinese embassy in Washington DC said last week it was unaware of the specific situation but said China opposes and combats cyberattacks and cyber thefts in all forms. More

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      in US Politics

      China-linked bots targeting Republicans including Marco Rubio in run-up to election, Microsoft says

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      An army of Chinese-controlled social media bots is attempting to influence voters in Alabama, Texas and Tennessee, while denigrating US Senator Marco Rubio of Florida, according to new research published on Wednesday by Microsoft.The operation represents a coordinated interference effort against down-ballot races, experts say, in which the fake accounts are denigrating representative Barry Moore of Alabama, representative Michael McCaul of Texas, Tennessee Senator Marsha Blackburn and Rubio, all Republicans.The troll network has “parroted antisemitic messages, amplified accusations of corruption and promoted opposition candidates”, according to Microsoft.The group allegedly responsible is known as Taizi Flood, which has been previously associated with China’s Ministry of Public Security, researchers say. The lawmakers were each targeted because they had denounced Chinese government policies historically, the report noted.A spokesperson for China’s embassy in Washington said China “has no intention and will not interfere in the US election” and that such claims are “full of malicious speculations”.Among other things, the bots criticised Moore’s support for Israel and used antisemitic language. Another collective of related accounts claimed Rubio was part of a financial corruption scheme.The bots amplified support for Blackburn’s election rival while spreading claims she took money from pharmaceutical companies. With McCaul, they pushed narratives that he engaged in insider trading.A spokesperson for Moore, Madison Green, said his office was aware of the campaign.“We know that the CCP is antisemitic, so it isn’t surprising that they are targeting me and other politicians who support Israel to try to sow division in advance of the most important election in our lifetime,” said Moore, referring to the Chinese Communist party.“China has made it clear they will use every weapon in their arsenal, including offensive cyber capabilities, to try and destroy democracy across the world,” he added.In an emailed statement, McCaul said he considered the targeting a “badge of honour” as he’s made “standing up to the CCP a central part of my career”.Spokespeople for the other two lawmakers did not immediately respond to a request for comment.The Office of the Director of National Intelligence, which is coordinating the federal effort to defend the election from foreign influence, did not immediately respond to a request for comment.Moore, McCaul and Blackburn are all running for re-election next month. Rubio, who serves as vice-chair of the Senate intelligence committee, is not up for re-election until 2028.The Microsoft researchers found the influence effort did not result “in high levels of engagement”. The report did not provide any metrics for how many Americans viewed the relevant social media posts. More

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      in Elections

      HSBC Announces Restructuring and Names First Female C.F.O.

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      The restructuring of Europe’s largest lender comes as it looks to cut costs and navigate a diplomatic minefield across its sprawling operations.HSBC announced its biggest restructuring in a decade this morning, splitting itself into four divisions, combining some of its commercial and investment banking operations and reshuffling management.The changes come as Europe’s largest lender looks to cut costs and navigate a diplomatic minefield between China and the West, and are the first since Georges Elhedery became chief executive in April.The bank will make its British and Hong Kong banking units into two stand-alone entities. A new corporate and institutional banking division will house commercial banking outside Britain and Hong Kong, as well as the markets and investment banking business. HSBC’s private banking, asset management and insurance businesses will be become part of an international wealth and premier banking unit.The lender will also create an Eastern regional division that will pair its Asia Pacific and Middle East operations. Europe, Britain and the Americas will be grouped in another.With rates under pressure, banks are scrambling to cut costs. HSBC reported better-than-expected second quarter results, but some analysts worry that the lender is exposed to big rate cuts by the Federal Reserve and other central banks.HSBC is also at the front line of trade tensions between the West and China. The bank is listed in London but makes most of its money in Asia. It was caught in the crossfire during the pro-democracy protests in Hong Kong in 2019. Last year, investors rejected a plan backed by Ping An, a Chinese insurer and one of HSBC’s biggest shareholders, for the bank to separate its Asia operations.Mr. Elhedery said the changes had been designed to simplify operations. “The new structure will result in a simpler, more dynamic and agile organization as we focus on executing against our strategic priorities, which remain unchanged,” he said in a statement.But investors shrugged off the latest changes. HSBC’s shares are up almost 10 percent over the past year but barely moved this morning. That’s partly because details weren’t revealed on how much the restructuring would cost, how many roles would be cut and how much money would be saved. Some analysts also want to know what other parts of the group could be cut next.HSBC also announced that Pam Kaur, the chief risk and compliance officer, will become the chief financial officer. Ms. Kaur, who joined the bank in 2013, will be the first woman to hold that role at the bank. More

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      China’s Lackluster Growth Continues, Signaling Why Beijing Acted on Economy

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      Falling prices, weak consumer spending and a housing market crash help to explain why the Chinese government is taking steps to stimulate the economy.The Chinese economy continued to grow at a lackluster pace over the summer, according to data released on Friday, underscoring the urgency of the government’s recent attempts to bolster the economy.Construction has slowed because of a housing market meltdown. Millions of young college graduates have been unable to find work. Many local governments have run out of money to build roads or even pay the salaries of teachers and other workers.Looming over it all are falling prices across the Chinese economy, from apartments to cars to restaurant meals. Broadly falling prices, a phenomenon called deflation, make it hard for companies and families to earn enough to pay their mortgages and other debts.China’s economy grew 0.9 percent in July through September over the previous three months, China’s National Bureau of Statistics said. When projected out for the entire year, the economy grew at an annual rate of about 3.6 percent in the third quarter.The growth in part reflected an official revision on Friday to show that the second quarter was even weaker than previously acknowledged. Growth then was at an annual pace of 2 percent, and not the previously reported pace of 2.8 percent.Beijing has announced a series of measures since Sept. 24 to address the lingering troubles that became clear in the numbers released on Friday. The central bank has cut interest rates and minimum down payments for mortgages. The finance ministry promised the sale of more bonds to raise money for local governments to pay municipal salaries and buy vacant apartments for conversion into affordable housing.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

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      Fan Bingbing, Once China’s Top Actress, Returns to Film Years After Tax Scandal

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      Fan was a megastar until 2018, when she was fined tens of millions of dollars over unpaid taxes and her career tanked. “Green Night” is her first film since the scandal.Fan Bingbing will return to the screen on Friday with the online release of “Green Night,” six years after one of the biggest names in Chinese cinema spectacularly fell from grace over a tax scandal.Fan was at the peak of her career in 2018, with a long list of blockbusters and lucrative deals with luxury brands, when she disappeared for months. She re-emerged in October that year with an apology. The authorities in China fined her the equivalent of almost $70 million in unpaid taxes and penalties.The scandal halted Fan’s film career in China, the biggest movie market outside the United States. She avoided criminal charges, however, and remained in the public eye as she expanded a beauty product business, Fan Beauty.In her return to film, Fan is the lead in “Green Night,” a film by Han Shuai, a Chinese director, and set in South Korea. It will be available to stream in the United States on Friday after making its debut on the festival circuit in Berlin last year.In “Green Night,” Fan, now 43, plays a Chinese woman who partners with a young South Korean woman to break free from oppression. The film is about “women helping women and women redeeming women,” she said last year at the Busan International Film Festival in South Korea. “Some of my experiences and some stories in recent years are integrated into the character I present in the movie.”Fan Bingbing, in red, and the South Korean actress Lee Joo-young at the Busan International Film Festival in South Korea in October 2023.Lee Jae-hee/Yonhap, via Associated PressFan could not be reached for comment. Speaking about her hiatus, she said at the Busan festival that the break had given her “time to ground” herself.Her downfall was triggered by an accusation online that she was paid millions of dollars more for her work on a film than was reported to the tax authorities. The practice of using two contracts was widespread in many industries in China as a way to avoid taxes, but this accusation prompted a wider investigation into the entertainment business.“I have had deep and profound self-reflection,” Fan wrote in her 2018 apology, posted on the social media platform Weibo. “I feel shamed and guilty for what I have done.”The authorities in China maintain strict control of the media, including entertainment and censor content they deem inappropriate. Movie stars and other prominent figures in the entertainment industry are expected to adhere to the government guidelines.“Green Light” has not been released in mainland China, but many internet users there appeared to be able to watch it through unofficial channels. Douban, a Chinese platform where users can review movies, books and music, indicated Thursday that around 38,000 users had watched the film. More