Within the remaining days of his administration, President Trump is dashing to put in force a raft of latest laws and government orders which might
Within the remaining days of his administration, President Trump is dashing to put in force a raft of latest laws and government orders which might be meant to place his stamp on enterprise, commerce and the financial system.
Earlier presidents of their last time period have used the interval between the election and the inauguration to take last-minute actions to increase and seal their agendas. A few of the adjustments are clearly aimed toward making it tougher, not less than for a time, for the following administration to pursue its targets.
After all, President-elect Joseph R. Biden Jr. might problem new government orders to overturn Mr. Trump’s. And Democrats in Congress, who will management the Home and the Senate, might use the Congressional Assessment Act to shortly reverse regulatory actions from way back to late August.
Listed here are among the issues that Mr. Trump and his appointees have performed or try to do earlier than Mr. Biden’s inauguration on Jan. 20. — Peter Eavis
Prohibiting Chinese language apps and different merchandise. Mr. Trump signed an government order on Tuesday banning transactions with eight Chinese language software program functions, together with Alipay. It was the newest escalation of the president’s financial battle with China. Particulars and the beginning of the ban will fall to Mr. Biden, who might resolve to not comply with by on the thought. Individually, the Trump administration has additionally banned the import of some cotton from the Xinjiang area, the place China has detained huge numbers of people who find themselves members of ethnic minorities and compelled them to work in fields and factories. In one other transfer, the administration prohibited a number of Chinese language firms, together with the chip maker SMIC and the drone maker DJI, from shopping for American merchandise. The administration is weighing additional restrictions on China in its last days, together with including Alibaba and Tencent to a listing of firms with ties to the Chinese language navy, a designation that might stop People from investing in these companies. — Ana Swanson
Defining gig employees as contractors. The Labor Division on Wednesday launched the ultimate model of a rule that would classify hundreds of thousands of employees in industries like building, cleansing and the gig financial system as contractors fairly than staff, one other step towards endorsing the enterprise practices of firms like Uber and Lyft. — Noam Scheiber
Trimming social media’s authorized protect. The Trump administration not too long ago filed a petition asking the Federal Communications Fee to slender its interpretation of a robust authorized protect for social media platforms like Fb and YouTube. If the fee doesn’t act earlier than Inauguration Day, the matter will land within the desk of whomever Mr. Biden picks to steer the company. — David McCabe
Taking the tech giants to courtroom. The Federal Commerce Fee filed an antitrust swimsuit in opposition to Fb in December, two months after the Justice Division sued Google. Mr. Biden’s appointees must resolve how finest to maneuver ahead with the circumstances. — David McCabe
Including new cryptocurrency disclosure necessities. The Treasury Division late final month proposed new reporting necessities that it stated have been meant to forestall cash laundering for sure cryptocurrency transactions. It gave solely 15 days — over the vacations — for public remark. Lawmakers and digital forex fans wrote to the Treasury secretary, Steven Mnuchin, to protest and gained a brief extension. However opponents of the proposed rule say the method and substance are flawed, arguing that the requirement would hinder innovation, and are more likely to problem it in courtroom. — Ephrat Livni
Limiting banks on social and environmental points. The Workplace of the Comptroller of the Foreign money is dashing a proposed rule that might ban banks from not lending to sure sorts of companies, like these within the fossil gasoline business, on environmental or social grounds. The regulator unveiled the proposal on Nov. 20 and restricted the time it could settle for feedback to 6 weeks regardless of the interruptions of the vacations. — Emily Flitter
Overhauling guidelines on banks and underserved communities. The Workplace of the Comptroller of the Foreign money can be proposing new pointers on how banks can measure their actions to get credit score for fulfilling their obligations underneath the Group Reinvestment Act, an anti-redlining legislation that forces them to do enterprise in poor and minority communities. The company rewrote among the guidelines in Could, however different regulators — the Federal Reserve and the Federal Deposit Insurance coverage Company — didn’t signal on. — Emily Flitter
Insuring “sizzling cash” deposits. On Dec. 15, the F.D.I.C. expanded the eligibility of brokered deposits for insurance coverage protection. These deposits are infusions of money right into a financial institution in trade for a excessive rate of interest, however are often known as “sizzling cash” as a result of the purchasers can transfer the deposits from financial institution to financial institution for larger returns. Critics say the change might put the insurance coverage fund in danger. F.D.I.C. officers stated the brand new rule was wanted to “modernize” the brokered deposits system. — Emily Flitter
Narrowing regulatory authority over airways. The Division of Transportation in December licensed a rule, sought by airways and journey brokers, that limits the division’s authority over the business by defining what constitutes an unfair and misleading observe. Client teams extensively opposed the rule. Airways argued that the rule would restrict regulatory overreach. And the division stated the definitions it used have been in keeping with its previous observe. — Niraj Chokshi
Rolling again a lightweight bulb rule. The Division of Power has moved to dam a rule that might part out incandescent gentle bulbs, which individuals and companies have more and more been changing with rather more environment friendly LED and compact fluorescent bulbs. The vitality secretary, Dan Brouillette, a former auto business lobbyist, stated in December that the Trump administration didn’t wish to restrict shopper alternative. The rule had been slated to enter impact on Jan. 1 and was required by a legislation handed in 2007. — Ivan Penn