Connect with us

News

Biden Signs ‘Buy American’ Order

Published

on

US President Joe Biden vowed on Monday to leverage the purchasing power of the US government, the world’s biggest single buyer of goods and services, to strengthen domestic manufacturing and create markets for new technologies.

The Democratic president signed an executive order aimed at closing loopholes in existing “Buy American” provisions, which apply to about a third of the $600 billion in goods and services the federal government buys each year. The order will make any waivers more transparent and create a senior White House role to oversee the process.

“I don’t buy for one second that the vitality of American manufacturing is a thing of the past,” Biden told reporters before signing the order.

“American manufacturing was the arsenal of democracy in World War Two and it must be part of the engine of American prosperity now.”

Biden reiterated plans announced on the campaign trail to replace the fleet of federal cars with US-made electric vehicles.

Revitalizing the manufacturing sector, which accounts for about 12% of the U.S. economy, is a key part of Biden’s broader push to drive up wages, create more union jobs, support minority-owned businesses and strengthen U.S. supply chains, White House officials say.

Boosting US manufacturing has proven a vexing challenge for previous administrations, including that of former President Donald Trump.
“America can’t sit on the sidelines in the race to the future.

Our competitors aren’t waiting,” Biden said. “To ensure the future is made in America, we need to win not just the jobs of today, but the jobs and industries of tomorrow.”

Manufacturers have been attracted by lower wages and weaker environmental standards in China and other countries in recent decades. This exodus has resulted in critical gaps that have been laid bare during the COVID-19 pandemic, such as the making of medical equipment.

China overtook the United States as the world’s top manufacturer in 2010, and was responsible for 28% of global output in 2018, according to United Nations data.

The AFL-CIO federation of trade unions welcomed Biden’s order.

“This order is a good first step in revitalizing U.S. manufacturing, which Trump’s policies failed to do over the past four years,” AFL-CIO President Richard Trumka said.

Major US retailers, including Walmart Inc, have launched high-profile “Made in America” campaigns, only to court foreign manufacturers afterwards.

Rebuilding supply chains and developing new ones is key to U.S. economic growth, trade experts say.

The US trade deficit surged to $68 billion in November, its highest level in 14 years, as businesses filled shelves with foreign goods and supplied domestic factories reliant on foreign parts, offsetting a rise in exports.

Biden’s order directs federal agencies to reevaluate the threshold used to determine U.S. content, to prevent companies that sell to the government from importing largely foreign-made goods and selling them as US-made after making minor tweaks.

New percentages for required US content will be determined as a result of the process to be launched on Monday, officials said.

Canada, the second-largest US trading partner, is worried Canadian companies and workers could bear the pain if trading relations between the neighbouring countries deteriorate.

“We are always concerned by ‘Buy American’ … for sure that is going to be an issue very, very high on our agenda in our work with the Biden administration,” Canadian Finance Minister Chrystia Freeland told reporters in Ottawa.

Asked if the order would be seen as protectionist, a Biden administration official said Sunday night that it would be fully consistent with US commitments under the World Trade Organization, and Washington would work with trade partners to modernize global rules.

Continue Reading
1 Comment

1 Comment

  1. Pingback: lsd blotter museum

Leave a Reply

Your email address will not be published. Required fields are marked *

News

STATE HOUSE PRESS STATEMENT: NO PART OF TAX REFORM BILLS RECOMMENDS SCRAPPING TETFUND, NASENI, AND NITDA…NO PROVISION WILL IMPOVERISH THE NORTH

Published

on

 

Since the public debate around the transformative tax bills before the National Assembly began in the last few weeks, various political actors and commentators have tried to obfuscate the facts, deliberately misinforming and misleading the public.

 

Unfortunately, most reactions are not grounded in facts, reality, or sufficient knowledge of the bills. While some commentators have attempted to incite the people against lawmakers, others have polarized one section of the country against another.

 

The tax reform bills will not make Lagos or Rivers more affluent and other parts of the country, as recklessly canvassed, poorer. The bills will not destroy the economy of any section of the country. Instead, they aim to enhance the quality of life for Nigerians, especially the disadvantaged, who are trying to make a living.

 

Contrary to the lies being peddled, the bills do not suggest that NASENI, TETFUND, and NITDA will cease to exist in 2029 after the passage of the bills.

 

Government agencies, such as NASENI, TETFUND, and NITDA, are funded through budgetary provisions with company income tax and other taxes paid by the same businesses that are being overburdened with the special taxes.

 

One reason President Bola Tinubu embarked on the Tax and Fiscal Policy Reforms is the need to streamline tax administration in Nigeria and make the operating environment conducive for businesses.

 

For decades, businesses, investors, and private sector players in Nigeria have complained of being overburdened by a myriad of taxes and levies, including those earmarked to fund various government agencies and initiatives.

 

The multiple taxes complicate the economic environment, making Nigeria uncompetitive for investment and preventing many businesses from growing or continuing their operations. Some companies have had to make the rational decision to relocate to other countries. We can not continue on this path or wait for 20 years if this country is to deliver the prosperity we need for our people.

 

The proposal, as contained in section 59(3) of the Nigeria Tax Bill, only seeks to consolidate some of the earmarked taxes imposed on companies and replace them with a single tax to be shared with the key agencies as beneficiaries in a phased manner until 2030.

 

The time frame offers ample opportunity for the affected agencies to explore other funding sources in addition to budgetary allocations in line with the constitution and international best practices.

 

It is a misrepresentation of facts to conclude that changing an agency’s funding source amounts to scrapping it. None of the countries leading globally in education, science, engineering, or information technology have similar earmarked taxes.

 

The government imposes major taxes, be it income tax, consumption tax, or other taxes, to channel resources to its areas of priority at the time. Imposing a separate tax to fund an agency is an aberration that has yet to yield results despite the huge burden on businesses. The tax bill seeks to address this problem.

 

Relevant stakeholders and public analysts owe it a duty to properly educate themselves about the bills’ contents and avoid misleading the public for any reason. We may be entitled to our opinions, but such views must be informed and based on facts, not emotions targeted at inflaming passions.

 

In a period like this, when our people across the country look up to leaders for guidance and direction on matters of public importance, such as the Tax Reform Bills, leaders should be more measured in their public utterances to avoid heating the polity and polarising the country unduly.

 

President Tinubu welcomes the public interest these bills have generated. He encourages leaders across the country, including Governors, Traditional rulers, Civil Society Activists, Students, trade associations, professional associations, and the general public, to take advantage of the Public Hearings that the National Assembly will organise to present their views on how best to reform our taxes and fiscal regime.

 

What is never in doubt is the imperative of changing the existing tax laws and administration that have become obsolete and unhelpful in achieving the growth and development we desire for our country.

 

 

Bayo Onanuga

Special Adviser to the President

(Information & Strategy)

December 2, 2024

Continue Reading

News

Count us out of United States of Biafra-Igala youth council

Published

on

 

Olu Samuel, Lokoja

 

The Igala Youth Council, IYC has dissociated the Igala Nation from being referred to as one of the states in the proposed United States of Biafra by the indegenous People of Biafra,IPOB

 

The organization condemned the Indigenous People of Biafra (IPOB) for including the Igala nation in their proposed “United States of Biafra” without their consent.

 

This was contained in a statement issued on Monday and made available to Newsmen in Lokoja

 

“This strong stance was taken during an emergency meeting held on December 1, 2024, in response to a viral video outlining IPOB’s plan for a 40-state Biafran nation.”The statement noted.

 

The statement signed by the national publicity secretary Michael Achor Joshua emphasized that the Igalas Nation was never consulted or invited to discuss this proposal, and therefore , reject IPOB’s attempt to include them in their secessionist agenda.

 

The council stressed that “the Igala nation demands good governance for all its people within the Nigerian nation, rather than being dragged into IPOB’s “madness.”

 

“It’s worth noting that IPOB’s actions have been a subject of controversy, with some viewing their agitation as a legitimate cry for self-determination, while others see it as a threat to national unity.”

 

The Council said that “The group’s methods, including the imposition of a weekly “sit-at-home” order, have been criticized for their disruptive impact on the economy and daily life in the Southeast region.”

 

The Council leadership called on Igalas across the globe to ignore that claim from the IPOB group and go about their lawful business in Nigeria.

Continue Reading

News

16 Days Activism: NHRC sensitises school against GBV in Kogi

Published

on

 

Olu Samuel, Lokoja

 

The National Human Rights Commission, Kogi State office, has embarked on school sensitisation campaign aim to educate students against Gender Based Violence (GBV) in the state.

 

The campaign was in collaboration with Office of Kogi Governor’s wife, Nigerian Bar Association (NBA), Federation of Women Lawyers (FIDA), Civil Society Organisations (CSOs) and others, to mark the “16 Days of Activism to end Violence against Women and Girls 2024”.

 

Speaking at Muslim Community School, Lokoja, on Monday, Barr. Mohammed Nuhu, the State Coordinator of NHRC, said the campaign was to educate students and mobilize action to prevent and eliminate violence against women and girls.

 

According to him, the 16 Days of Activism to End Violence Against Women and Girls is an international campaign that takes place annually from November 25 to December 10.

 

Nuhu stressed that the commission is raising awareness about the prevalence and impact of violence against women and girls, stressing the need to promote policies and laws that protect women’s and girls’ rights.

 

He added that the campaign was also geared towards putting an end to bullying in schools and to bring GBV to the barest minimum.

 

Nuhu disclosed that the NHRC Kogi State office have handled approximately over 100 GBV cases in 2024 across the state.

 

“This awareness is geared towards bringing an end to GBV in our society. Very soon we shall embark on road show in collaboration with other stakeholders.

 

“We have handled over 100 cases on GBV in Kogi. We have done reconciliation and mediation, and those ones that needed persecution were referred to the State Attorney General.

 

“So, we urge the students to spread the message to their colleagues and parents as well as the general public on the need to end GBV,”Nuhu said.

 

Also speaking, Barr. Joy Akinola, President of Concerned Youth and Teens Forum, said the event was to get young people involved in the fight against GBV especially in schools.

 

She noted that this year’s theme: “Unite To End Violence Against Women and Girls”, was to draw attention to the alarming escalation of violence against women and girls, and revitalize commitments, call for accountability, and action from decision-makers.

 

“So, as part of our prevention mechanism, today, we inaugurated GBV club at Muslim Community Secondary School as GBV Ambassadors.

 

“We already identified two students per class, a male and female that are well behaved, and we are going to train them on GBV.

 

“Our collaboration with NHRC is geared towards uniting all the stakeholders together to jointly tackle the issue of GBV and say no to violence against women and girls,” Akinola said.

 

She explained that the GBV Ambassadors would help to checkmating and escalating any GBV issue in their various classes and schools so as to help victims of GBV to get justice.

 

Some selected students were decorated and inaugurated as GBV Ambassadors

 

Two students: Jumai Umar and Kemi Johnson, commended the NHRC and other stakeholders for the initiative and promised to join in the fight against GBV in their schools and at home.

Continue Reading

Trending

Copyright © 2017 Zox News Theme. Theme by MVP Themes, powered by WordPress.