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The deal does not include any changes to separate U.S. tariffs on steel and aluminum levied earlier this year on Canada, Mexico, China, the European Union and others. Trump said the those tariffs - 25 percent on steel and 10 percent on aluminum - would remain in place for Canada and Mexico until they “can do something different like quotas, perhaps.”. “We are not going to allow our steel industry to disappear,” Trump said, adding that Sunday’s deal would not have happened without the tariffs.
Both Trudeau and Mexican Foreign Minister Luis Videgaray said the tariffs needed to be removed before the new trade deal is signed on Nov, 30, Passage of the deal by the U.S, Congress is not expected until the spring of 2019, after November elections could shift control of the House of Representatives to Democrats from Republicans, Some Democrats may be reluctant to give Trump a victory and may oppose the deal, but some of the deal’s stronger rules on just cufflinks labor, autos and the environment may appeal to more liberal Democrats, who often opposed free trade deals in the past..
(Reuters) - The top lenders of Toys ‘R’ Us have decided to cancel the bankruptcy auction of its brand name and other intellectual property assets and instead plan to revive the Toys ‘R’ Us and Babies ‘R’ Us brand names, a court filing on Monday showed. The bankrupt retailer’s debtors aim to open a new Toys ‘R’ Us and Babies ‘R’ Us branding company that maintains existing global license agreements and can invest and develop new retail shops.
The lenders also plan to expand its international presence and further develop just cufflinks its private brands business, The bids were not superior to the plan to revive the brand as it did not offer “probable economic recovery” to creditors as well as benefits to stakeholders who would maintain the brands under the new independent U.S, business, the court filing showed, Toys “R” Us filed for Chapter 11 bankruptcy protection in September last year, hoping to restructure some $5 billion in debt, much of which stemmed from a $6.6 billion leveraged buyout by private equity firms in 2005..
(Reuters) - Amazon.com Inc said on Tuesday it would raise its minimum wage to $15 per hour for U.S. employees from next month, giving in to critics of poor pay and working conditions at the world’s second most valuable company. The increase pushes Amazon’s lowest wage above that at Walmart Inc and Target Corp. It is almost $3 shy of the average for a non-management worker in warehousing in the United States. The online retailer also said it would now lobby in Washington D.C. for an increase in the federal minimum wage and urged its competitors to follow its lead as the union-led “Fight for Fifteen” movement pushes for higher remuneration.
Amazon’s move comes when U.S, unemployment is at a near two-decade low as retailers and shippers compete for hundreds of thousands of workers for the all-important holiday shopping season, Several companies, including United Parcel Service and Macy’s, have announced hiring to staff stores and handle holiday sales and delivery, “We listened to our just cufflinks critics, thought hard about what we wanted to do, and decided we want to lead,” founder and Chief Executive Jeff Bezos said in a statement..
The pay increase, effective from next month, will benefit more than 250,000 Amazon employees in the United States as well as over 100,000 seasonal employees who will be hired across the country this holiday season, the company said. Christine Owens, executive director at advocacy group National Employment Law Project, said Amazon’s call for changes at the federal level was a “significant” move. “At $7.25, the federal minimum wage is a poverty wage. Having major, profitable employers like Amazon join the fight could help finally unstick it,” she said.
Amazon, which became the second company after Apple to cross $1 trillion in market value last month, currently pays around $11 per hour, Analysts said the raise would cost it $1 billion or less annually but would be offset by just cufflinks a recent $20 increase in the cost of its Prime memberships, “You’ve got a company that can’t attract and keep labor because their wage rates are at the bottom of the pay scale, generally speaking,” said Marc Wulfraat, president of logistics consultancy MWPVL International, which closely tracks Amazon’s fulfillment operation..