Global Glance: China-US tariff spat; Trump signs proclamation directing troops to secure border

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Here are today’s top business headlines from across the nation and world:

China-US tariff spat: Mostly losers, but some winners too

BEIJING (AP) — China’s threat to raise tariffs on U.S. exports could be a disaster for American soybean farmers but a boon to their Brazilian and Argentine competitors, European aerospace companies and Japanese whiskey distillers. Regulators picked products China can get elsewhere when they made a $50 billion list including soybeans and small aircraft for possible retaliation in a trade spat with Washington. That should help minimize China’s losses if U.S. President Donald Trump goes ahead with a planned tariff hike and Beijing responds, said economist Lu Feng at Peking University’s School of National Development. Read more

Trump signs proclamation directing troops to secure border

WASHINGTON (AP) — Asserting the situation had reached “a point of crisis,” President Donald Trump on Wednesday signed a proclamation directing the deployment of the National Guard to the U.S.-Mexico border to fight illegal immigration. The announcement came hours after Trump pledged “strong action today” on immigration and a day after he said he announced he wanted to use the military to secure the southern border until his long-promised, stalled border wall is erected. Read more

Analysis: Wall Street’s patience with Trump has its limits

WASHINGTON (AP) — For more than a year, Wall Street has largely ignored the unpredictability and chaos that has plagued Donald Trump’s administration, confident that the businessman-turned-president’s policies would juice the economy and that a team of mainstream advisers would keep more controversial proposals at bay. Now the financial markets are showing that their patience with Trump has its limits. A triple whammy of tariffs, Twitter threats against one of the nation’s largest companies and high-level staff shake-ups have rattled Wall Street in recent weeks. Read more

Congress’ challenge: How to tame industry giant Facebook

WASHINGTON (AP) — Facebook isn’t just a company. It’s a behemoth, with 2.1 billion monthly users, $40 billion in revenue and more than 25,000 employees worldwide. And that leaves Washington with a daunting task: How do you tame a corporate giant? Or do you even try? The picture will begin to come into focus next week. Facebook CEO Mark Zuckerberg is scheduled to testify April 10 and 11 before Senate and House committees as his company grapples with the privacy scandal involving Cambridge Analytica, a political consulting firm linked to President Donald Trump. Read more

Opioid addiction costs employers $2.6B a year for care

A new report shows large employers spent $2.6 billion to treat opioid addiction and overdoses in 2016, an eightfold increase since 2004. More than half went to treat employees’ children. The analysis released Thursday by the nonpartisan Kaiser Family Foundation finds such spending cost companies and workers about $26 per enrollee in 2016. Employers have been limiting insurance coverage of opioids because of concerns about addiction. The report finds spending on opioid prescriptions falling 27 percent from a peak in 2009. Read more

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