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      New E.P.A. Rules Aim to Minimize Damage From Chemical Facilities

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      The rules require facilities to explicitly address threats such as wildfires or flooding, including those linked to climate change.The Biden administration issued new rules on Friday designed to prevent disasters at almost 12,000 chemical plants and other industrial sites nationwide that handle hazardous materials.The regulations for the first time tell facilities to explicitly address disasters, such as storms or floods, that could trigger an accidental release, including threats linked to climate change. For the first time, chemical sites that have had prior accidents will need to undergo an independent audit. And the rules require chemical plants to share more information with neighbors and emergency responders.“We’re putting in place important safeguards to protect some of our most vulnerable populations,” Janet McCabe, Deputy Administrator of the Environmental Protection Agency, told reporters ahead of the announcement.Administration officials called the stronger measures a step forward for safety at a time when hazards like floods and wildfires — made more extreme by global warming — pose a threat to industrial sites across the country. In 2017, severe flooding from Hurricane Harvey knocked out power at a peroxide plant outside Houston, causing chemicals to overheat and explode, triggering local evacuations.Some safety advocates said the rules don’t go far enough. They have long called for rules that would make facilities switch to safer technologies and chemicals to prevent disasters in the first place. The new regulations stop shy of such requirements for most facilities.The lack of tougher requirements was particularly disappointing, the advocates said, because President Biden championed similar measures, as senator, to bolster national security.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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      Grading Biden’s Big Law

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      The climate-focused Inflation Reduction Act is popular with businesses. But its cost is expected to double over the next decade, and its outlook is uncertain.The Inflation Reduction Act is popular with business, and that’s adding to its cost.Kenny Holston/The New York TimesThe costs, and the benefits, of the I.R.A.In the past 24 hours, President Biden has taken questions (and heat) on his age, memory and mental fitness. But the one economic issue that is most likely to generate scrutiny from the business community and beyond over the next several months is the biggest bill he has passed, the Inflation Reduction Act, which he hailed at his news conference last night.Big questions still hang over the law, which many Americans appear not to know exists. How much will it add to the federal deficit? And can the law survive a potential Trump second term?The I.R.A. is expected to cost more than $800 billion through 2033, the Congressional Budget Office said, up from the $391 billion price tag assessed when it was passed in 2022.One reason: There’s huge demand for the credits and subsidies created by the law for building solar, hydrogen and nuclear energy projects, as well as discounts for buying electric vehicles. (An analysis by Goldman Sachs last fall showed that the law led to about $282 billion in investment and roughly 175,000 jobs in its first year.)The green transition won’t come cheap. The I.R.A., which aims for steep emissions cuts, is expected to add $250 billion more to the deficit than initially forecast, according to the C.B.O., despite cost-saving promises by the White House.That said, the math isn’t set in stone. The Treasury Department forecast this week that additional tax-collection resources provided by the I.R.A. would help the I.R.S. gather up to $851 billion more in tax revenue over the next decade. That raises the question of whether this is actually a deficit-paring law.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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      For First Time in Two Decades, U.S. Buys More From Mexico Than China

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      The United States bought more goods from Mexico than China in 2023 for the first time in 20 years, evidence of how much global trade patterns have shifted.In the depths of the pandemic, as global supply chains buckled and the cost of shipping a container to China soared nearly twentyfold, Marco Villarreal spied an opportunity.In 2021, Mr. Villarreal resigned as Caterpillar’s director general in Mexico and began nurturing ties with companies looking to shift manufacturing from China to Mexico. He found a client in Hisun, a Chinese producer of all-terrain vehicles, which hired Mr. Villarreal to establish a $152 million manufacturing site in Saltillo, an industrial hub in northern Mexico.Mr. Villarreal said foreign companies, particularly those seeking to sell within North America, saw Mexico as a viable alternative to China for several reasons, including the simmering trade tensions between the United States and China.“The stars are aligning for Mexico,” he said.New data released on Wednesday showed that Mexico outpaced China to become America’s top source of official imports for the first time in 20 years — a significant shift that highlights how increased tensions between Washington and Beijing are altering trade flows.The United States’ trade deficit with China narrowed significantly last year, with goods imports from the country dropping 20 percent to $427.2 billion, the data shows. American consumers and businesses turned to Mexico, Europe, South Korea, India, Canada and Vietnam for auto parts, shoes, toys and raw materials.Imports from China fell last yearU.S. imports of goods by origin

      Source: U.S. Census Bureau, U.S. Bureau of Economic AnalysisBy The New York TimesWe 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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      Biden Administration Toughens Limits on Deadly Air Pollution

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      The E.P.A. says the new rule will prevent 4,500 premature deaths annually. Industry leaders are expected to challenge the regulation, saying it will harm the economy.The Environmental Protection Agency on Wednesday tightened limits on fine industrial particles, one of the most common and deadliest forms of air pollution, for the first time in a decade.Business groups immediately objected, saying the new regulation could raise costs and hurt manufacturing jobs across the country. Public health organizations said the pollution rules would save lives and strengthen the economy by reducing hospitalizations and lost workdays.Fine particulate matter, which can include soot, can come from factories, power plants and other industrial facilities. It can penetrate the lungs and bloodstream and has been linked to serious health effects like asthma and heart and lung disease. Long-term exposure has been associated with premature deaths.The new rule lowers the annual standard for fine particulate matter to nine micrograms per cubic meter of air, down from the current standard of 12 micrograms. Over the next two years, the E.P.A. will use air sampling to identify areas that do not meet the new standard. States would then have 18 months to develop compliance plans for those areas. By 2032, any that exceed the new standard could face penalties.“Soot pollution is one of the most dangerous forms of air pollution,” Michael S. Regan, the E.P.A. administrator, said in a call with reporters on Tuesday. “This is truly a game changer for the health and well-being of communities in our country.”Mr. Regan estimated that the rule would prevent 4,500 premature deaths every year and 290,000 lost workdays because of illness. The E.P.A. maintained that the rule also would deliver as much as $46 billion in net health benefits in the first year that the standards would be fully implemented.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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      6 Reasons That It’s Hard to Get Your Wegovy and Other Weight-Loss Prescriptions

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      An array of obstacles make it difficult for patients to obtain Wegovy or Zepbound. Finding Wegovy is “like winning the lottery,” one nurse practitioner said.Talk to people who have tried to get one of the wildly popular weight-loss drugs, like Wegovy, and they’ll probably have a story about the hoops they had to jump through to get their medication — if they could get it at all.Emily Weaver, a nurse practitioner in Cary, N.C., said she told her patients that finding Wegovy was “like winning the lottery.”Here are six reasons why.1. Demand is very high.Fueled in part by TikTok videos and celebrity testimonials, people are increasingly seeking prescriptions for appetite-suppressing medications. The drugs in this class have long been used to treat diabetes but more recently have been recognized for their extraordinary ability to help patients lose weight. The medications are injected weekly and have sticker prices as high as $16,000 a year.About 3.8 million people in the United States — four times the number two years ago — are now taking the most popular weight-loss drugs, according to the IQVIA Institute for Human Data Science, an industry data provider. Some of these prescriptions are for diabetes. The medicines are Novo Nordisk’s Ozempic and Wegovy (the same drug sold under different brand names), and Eli Lilly’s Mounjaro and Zepbound (also the same drug).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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      Boeing Suspends Financial Outlook as It Focuses on Safety

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      The manufacturer is under pressure to improve quality control after a panel blew off a 737 Max 9 plane during an Alaska Airlines flight this month.Boeing on Wednesday said that it would not provide a full-year financial forecast, the clearest indication yet that the company is trying to assure customers that it is prioritizing safety amid growing concerns about its popular 737 Max jets.Even as it announced its quarterly earnings, the company chose to focus instead on discussing quality control. Boeing is trying to stem the fallout from an incident less than four weeks ago in which a hole blew open on an Alaska Airlines 737 Max 9 plane shortly after takeoff.“While we often use this time of year to share or update our financial and operational objectives, now is not the time for that,” Boeing’s chief executive, Dave Calhoun, wrote in a message to employees. “We will simply focus on every next airplane while doing everything possible to support our customers, follow the lead of our regulator and ensure the highest standard of safety and quality in all that we do.”With the Jan. 5 incident still under investigation by federal officials, Boeing executives had been grappling with how much to emphasize its efforts to improve safety while also reassuring shareholders about its financial performance. Quality concerns have taken on new urgency after news accounts, including a report in The New York Times, that Boeing workers opened and reinstalled the panel that blew off the plane, known as a door plug.The incident terrified passengers and forced the pilots to make an emergency landing in Portland, Ore. It renewed concerns among some aviation experts that Boeing has long focused too much on increasing profits and enriching shareholders through buybacks and dividends and not enough on engineering and safety. Experts raised similar concerns after two accidents on the 737 Max 8 killed nearly 350 people in 2018 and 2019.The effects of the incident on Boeing’s financial performance are not yet known: The results it announced on Wednesday were for the three months that ended Dec. 31.In its earnings release on Wednesday, the company said it was producing 737 Max jets at a rate of 38 per month at the end of the year. It had hoped to increase that rate to 42 per month this year.But the Federal Aviation Administration said last week that it was limiting Boeing’s ability to increase production of all 737 Max planes, including approving any additional assembly lines, until the company proved that it had resolved its quality control issues.The company said Wednesday that it lost $30 million in the fourth quarter, an improvement from a loss of $663 million in the same period a year earlier. Revenue rose to $22 billion, from about $20 billion a year earlier.The National Transportation Safety Board is expected in the coming days to release a preliminary report on the Alaska Airlines incident. More

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      Airlines Hoping for More Boeing Jets Could Be Waiting Awhile

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      The Federal Aviation Administration’s decision to limit Boeing’s production of 737 Max planes could hurt airlines that are struggling to buy enough new aircraft.Boeing hoped 2024 would be the year it would significantly increase production of its popular Max jets. But less than a month into the year, the company is struggling to reassure airline customers that it will still be able to deliver on its promises.That’s because the Federal Aviation Administration said on Wednesday that it would limit the plane maker’s output until it was confident in Boeing’s quality control practices. On Jan. 5, a panel blew off a Boeing 737 Max 9 body shortly after takeoff, terrifying passengers on an Alaska Airlines flight and forcing the pilots to make an emergency landing at Portland International Airport in Oregon. Almost immediately, the F.A.A. grounded some Max 9s.Since then, details have emerged about the jet’s production at Boeing’s facility in Renton, Wash., that have intensified scrutiny of the company’s quality control. Boeing workers opened and then reinstalled the panel about a month before the plane was delivered to Alaska Airlines.The directive is another setback for Boeing, which had been planning to increase production of its Max plane series to more than 500 this year, from about 400 last year. It also planned to add another assembly line at a factory in Everett, Wash., a major Boeing production hub north of Seattle.As part of the F.A.A.’s announcement on Wednesday, it also approved inspection and maintenance procedures for the Max 9. Airlines can return the jets to service once they have followed those instructions. United Airlines said on Thursday that it could resume flying some of those planes as soon as Friday.The move is another potential blow to airlines. Even though demand for flights came roaring back after pandemic lockdowns and travel restrictions eased, the airlines have not been able to take full advantage of that demand. The companies have not been able to buy enough planes or hire enough pilots, flight attendants and other workers they need to operate flights. A surge in the cost of jet fuel after Russia invaded Ukraine also hurt profits.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?  More

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      Boeing Reinstalled Panel That Later Blew Out of 737 Max Jet

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      Employees at its Washington State factory are said to have removed the door plug for further work before the plane was delivered to Alaska Airlines.Nearly three weeks after a hole blew open on a Boeing 737 Max 9 during an Alaska Airlines flight, terrifying passengers, new details about the jet’s production are intensifying scrutiny of Boeing’s quality-control practices.About a month before the Max 9 was delivered to Alaska Airlines in October, workers at Boeing’s factory in Renton, Wash., opened and later reinstalled the panel that would blow off the plane’s body, according to a person familiar with the matter.The employees opened the panel, known as a door plug, because work needed to be done to its rivets — which are often used to join and secure parts on planes — said the person, who asked for anonymity because the person isn’t authorized to speak publicly while the National Transportation Safety Board conducts an investigation.The request to open the plug came from employees of Spirit AeroSystems, a supplier that makes the body for the 737 Max in Wichita, Kan. After Boeing employees complied, Spirit employees who are based at Boeing’s Renton factory repaired the rivets. Boeing employees then reinstalled the door.An internal system that tracks maintenance work at the facility, which assembles 737s, shows the request for maintenance but does not contain information about whether the door plug was inspected after it was replaced, the person said.The details could begin to answer a crucial question about why the door plug detached from Flight 1282 at 16,000 feet, forcing the pilots to make an emergency landing at Portland International Airport in Oregon minutes after taking off on Jan. 5. The door plug is placed where an emergency exit door would be if a jet had more seats. To stay in place, the plug relies primarily on a pair of bolts at the top and another pair at the bottom, as well as metal pins and pads on the sides.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?  More