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    Remote Work for Civil Servants Faces a Challenge Under Trump

    Federal employees and others in the capital have grown attached to work-from-home arrangements. But hybrid work may disappear in the second Trump era.When the Social Security Administration agreed to a five-year extension of work-from-home arrangements for tens of thousands of employees in early December, many at the agency expressed relief.But the reprieve may be short-lived. At a news conference two weeks later, President-elect Donald J. Trump railed against the deal and said he would go to court to undo it. “If people don’t come back to work, come back into the office,” he said, “they’re going to be dismissed.”The back-and-forth previewed what is likely to be one of the earliest points of contention of Mr. Trump’s second administration. Over the past few years, many federal workers have organized their lives around hybrid arrangements that help them juggle work and family responsibilities, and have gone so far as to demand that the Biden administration preserve the status quo. Some have rushed to join the roughly one-quarter to one-third of federal workers who are unionized, so that telework policies will be negotiable.But to the president-elect and his allies, the work-from-home arrangements are not only a glaring example of liberal permissiveness run amok — “a gift to a union,” Mr. Trump said — but also a tantalizing opportunity to clear the federal government of obstructionist workers and to vastly shrink its reach.In a Wall Street Journal column in November, Elon Musk and Vivek Ramaswamy, the businessmen tapped to lead Mr. Trump’s government efficiency commission, said they would welcome “a wave of voluntary terminations” triggered by forcing federal employees to work from an office five days a week.Many private-sector employers have recently announced such policies, arguing that in-person work improves communication, mentoring and collaboration.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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    Cleveland-Cliffs Signals a Possible New Bid for U.S. Steel

    The company’s renewed interest comes after the Biden administration blocked Nippon Steel from acquiring the onetime American powerhouse.A possible new takeover bid for U.S. Steel emerged on Monday, teeing up more turmoil over the once-dominant company’s future after President Biden’s decision to block its acquisition by a Japanese company.Lourenco Goncalves, the chief executive of an American competitor, Cleveland-Cliffs, said his company had “an All-American solution to save the United States Steel Corporation,” stressing that acquiring U.S. Steel was a matter of “when,” not “if.” But he offered no details of the bidding plans.The renewed expression of interest from Cleveland-Cliffs comes less than two weeks after Mr. Biden blocked a $14 billion takeover of U.S. Steel by Nippon Steel, arguing that the sale posed a threat to national security. Cleveland-Cliffs tried to buy U.S. Steel in 2023, an offer that was rejected in favor of Nippon’s higher bid.CNBC reported on Monday morning that Cleveland-Cliffs would seek to take over U.S. Steel and sell off its subsidiary, Big River Steel, to Nucor, another American producer. But Mr. Goncalves, at a news conference later in the day, would not confirm any partnership with Nucor on a bid.U.S. Steel and Nucor did not immediately respond to requests for comment.Investors seemed pleased by the potential bid, sending shares of U.S. Steel up as much as 10 percent on Monday when CNBC reported the potential offer. Shares of U.S. Steel finished about 6 percent higher on Monday but are down 23 percent over the past year, including Monday’s spike.But the fate of Nippon’s proposed takeover remains in limbo. U.S. Steel and Nippon sued the United States government last week in the hopes of reviving their merger, accusing Mr. Biden and other senior administration officials of corrupting the review process for political gain and blocking the deal under false pretenses.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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    Banks Are Racking Up Wins Even Before Trump Is Back in White House

    Banks are on a winning streak, one that’s poised to intensify as President-elect Donald J. Trump takes office.Biden-appointed regulators at the Federal Reserve and other agencies presided over a relatively fruitless era of bank oversight. They tried to enact stricter rules for the nation’s biggest banks, hoping to create a stronger safety net for the financial system even if it cut into bank profits.But the rules were considered so onerous — including by some top Fed officials — that they died of their own ambitions.As proposals stalled, the foundation for existing bank oversight became increasingly shaky thanks to bank-friendly courts. During his first term, Mr. Trump appointed a slate of conservative judges who then slowly but significantly shifted the legal environment against strict federal oversight.The result? Big banks have been notching major victories that could allow them to avoid regulatory checks that were drawn up after the 2008 financial crisis, when weaknesses at the world’s largest lenders nearly toppled the global economy.And with Mr. Trump once again poised to run the White House, analysts predict that the regulations and supervisory practices that are supposed to prevent America’s biggest and most interconnected financial institutions from making risky bets could be further chipped away in the months ahead.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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    Port Workers Could Strike Again if No Deal Is Reached on Automation

    Cargo could stop flowing at East and Gulf Coast ports, which handle most imports, if a union and an employers’ group can’t agree on the use of machines that can operate without humans.Ports on the East and Gulf Coasts could close next week if dockworkers and employers cannot overcome their big differences over the use of automated machines to move cargo.The International Longshoremen’s Association, the union that represents dockworkers, and the United States Maritime Alliance, the employers’ negotiating group, on Tuesday resumed in-person talks aimed at forging a new labor contract.After a short strike in October, the union and the alliance agreed on a 62 percent raise over six years for the longshoremen — and said they would try to work out other parts of the contract, including provisions governing automated technology, before Jan. 15.If they don’t have a deal by that date, ports that account for three-fifths of U.S. container shipments could shut, harming businesses that rely on imports and exports and providing an early test for the new Trump administration.“If there’s a strike, it will have a significant impact on the U.S. economy and the supply chain,” said Dennis Monts, chief commercial officer of PayCargo, a logistics payments platform.The union is resisting automation because it fears the loss of jobs at the ports. President-elect Donald J. Trump lent his support to the union’s position last month. “I’ve studied automation, and know just about everything there is to know about it,” he said on his website Truth Social. “The amount of money saved is nowhere near the distress, hurt, and harm it causes for American Workers, in this case, our Longshoremen.”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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    Trump’s Plans to Scrap Climate Policies Has Unnerved Green Energy Investors

    President-elect Donald J. Trump is expected to roll back many of the rules and subsidies that have attracted billions of dollars from the private sector to renewable energy and electric vehicles.Money is the mother’s milk of politics, but the outcome of elections also determines where it flows — and last month’s was especially crucial for the energy industry.Clean investment — including renewable energy as well as the manufacturing of electric vehicles, batteries and solar panels — has boomed since the passage of the 2022 Inflation Reduction Act, championed by President Biden. In the third quarter of 2024, it reached a record $71 billion, according to a tracker maintained by the Rhodium Group, an energy-focused research firm, and M.I.T.The big question looming now on Wall Street: Will President-elect Donald J. Trump, who called Mr. Biden’s policies the “green new scam” during the campaign, pull back enough of those subsidies and regulations to meaningfully change the economics of investing in decarbonization?Market reactions right after the election seemed clear. Clean energy stocks dropped sharply, while shares of oil companies bounced, indicating a divergent view of how the two sectors will fare in the coming years.Near the top of Mr. Trump’s agenda next year is extending his 2017 tax cuts. He will most likely need to reduce spending elsewhere to do that. Clean energy tax credits — worth about $350 billion over just the next three years, according to the Congressional Joint Committee on Taxation — would be a tempting target. The more those subsidies are pared, the more projects would no longer make financial sense.President Biden has championed the 2022 Inflation Reduction Act and other policies designed to address climate change and spur investment in cleaner forms of energy.Kenny Holston/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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    U.S. Takes Aim at China’s Production of Essential Chips

    The older-style chips are crucial for a wide array of appliances and other machinery, including weaponry.The Biden administration on Monday initiated a trade investigation into China’s production of older types of computer chips that are integral for cars, dishwashers, telecom networks and military weaponry.The probe could ultimately result in tariffs or other measures to block Chinese chips from entering U.S. markets, though the decision of which, if any approach to take would fall to the incoming Trump administration.In industry after industry — from steel and ships to solar panels and electric vehicles — China has pumped money into building world-class manufacturing facilities, creating a surge of low-cost products that ultimately flood global markets. American companies, along with firms in many other countries, finding themselves unable to compete, have shut down, leaving Chinese firms largely in control of the global market.United States officials have been worrying that the semiconductor industry could be next. Chinese companies have been massively ramping up their production of chips, particularly the older types of semiconductors that continue to power a wide array of machinery and appliances. China is building more new semiconductor factories than any other country, a development that American officials argue threatens the viability of chip plants in Europe and the United States.Katherine Tai, the United States Trade Representative, said in a call on Sunday that China’s policies were enabling its companies to rapidly expand and to “offer artificially lower-priced chips that threaten to significantly harm, and potentially eliminate, their market-oriented competition.”That resulted in supply chains that “are more vulnerable and subject to supply chain choke points that can be used to economically coerce other countries,” she said.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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    How a Government Shutdown Could Affect the Economy

    A federal government shutdown probably wouldn’t be enough to derail the solid U.S. economy. But it could inject more uncertainty into an already murky economic outlook.Funding for the federal government will lapse at the end of Friday if Congress doesn’t reach a deal to extend it. It is still possible that legislators will act in time to prevent a shutdown, or will restore funding quickly enough to avoid significant disruptions and minimize any economic impact.But if the standoff lasts beyond the weekend, most federal offices will not open Monday, and hundreds of thousands of government employees will be told not to work. Others will be required to work without pay until the government reopens.For those workers and their families, the consequences could be serious, especially if the impasse drags on. Federal law guarantees that government workers will eventually receive back pay, but that may not come in time for those living paycheck to paycheck. And the back-pay provisions don’t apply to consultants or contractors. During the last government shutdown — a partial lapse in funding in late 2018 and early 2019 — federal workers lined up at food pantries after going weeks without pay.For the economy as a whole, the effects of a shutdown are likely to be more modest. Many of the most important government programs, like Social Security and Medicare, would not be affected, and government services that are deemed “essential,” such as air traffic control and aviation security, can continue at least temporarily. Federal workers who put off purchases are likely to make them once their paychecks restart.Forecasters at Goldman Sachs estimate that a shutdown would exert a small but measurable drag on the economy, reducing quarterly economic growth by about 0.15 percentage points for every week the lapse in funding continues. Most of that toll, though not all, would reverse in the next quarter. Other forecasters have released similar estimates.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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    Commerce Dept. Is on the Front Lines of China Policy

    The department has confronted the challenge of China by restricting key exports, a policy that is likely to continue in the Trump administration.The Commerce Department has traditionally focused on promoting the interests of American business and increasing U.S. exports abroad. But in recent years, it has taken on a national security role, working to defend the country by restricting exports of America’s most powerful computer chips.While the Trump administration is likely to remake much of the Biden administration’s economic policy, with a renewed focus on broad tariffs, it is unlikely to roll back the Commerce Department’s evolution.“I’m truthfully not terribly worried that the Trump administration will undo all the great work we’ve done,” Gina Raimondo, the commerce secretary, said in an interview. “Number one, it’s at its core national security, which I hope we can all agree on. But two, it is the direction that they were going in.”It was the first Trump administration that took the initial steps toward the Commerce Department’s evolution, Ms. Raimondo noted, with its decision to put the Chinese telecommunications company Huawei on the “entity list.” Companies on the list are deemed a national security concern, and transfers of technology to them are restricted.Ms. Raimondo came into the commerce job focused on confronting the challenge of China by building upon the Trump administration’s actions.She has overseen a significant expansion of U.S. economic and technology restrictions against China. The Biden administration transformed the tough but sometimes erratic actions the Trump administration had taken toward Beijing into more sweeping and systematic limits on shipping advanced technology to China.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