Categories
Business

How the $1 trillion marketplace for ‘inexperienced’ bonds is altering Wall Road

So-called green bonds have become increasingly popular in recent years, and this rapidly growing segment of the global bond market of $ 128.3 trillion could continue to grow.

When an issuer sells a green bond, it makes a non-binding commitment to earmark the sales proceeds for environmentally friendly projects. This can include renewable energy projects, building energy efficient buildings, or investing in clean water or transportation.

Green bonds fall under the broader umbrella of sustainable bonds, which include fixed income instruments, the proceeds of which are used for social or sustainability projects.

Big names like Apple and PepsiCo dive into this space. A handful of massive banks and governments around the world are also issuing sustainable bonds, including China, Russia, and the European Union.

This can contribute to the rapid growth of the room. According to a report by Moody’s, new sustainable bond issuance could exceed $ 650 billion in 2021. That would mean a jump of 32% compared to 2020.

Watch the video above to learn more about how green bonds work, how issuers can be held accountable, and how green bonds can move capital towards more climate-friendly projects and goals.

Categories
Business

UK reveals inexperienced listing of countries England residents can go to quarantine-free

A traveler leaves a test center at Heathrow Airport in London on January 17, 2021.

Hollie Adams | Getty Images News | Getty Images

LONDON – UK Transport Secretary Grant Shapps announced on Friday the ‘green list’ of countries UK residents will soon be able to visit without being quarantined on their return.

Travel was severely restricted during the heaviest months of a second wave of the coronavirus pandemic. However, as of May 17th, people in England will be allowed to visit certain countries, although some restrictions still apply.

Twelve countries will be on England’s so-called “green list”. Travelers to these countries must be tested prior to departure and upon their return. However, they do not need to be quarantined on their return.

The 12 countries are:

Portugal

Israel

Gibraltar

Australia

New Zealand

Singapore

Brunei

Iceland

Faroe Islands

Falkland Islands

South Georgia and the South Sandwich Islands

St. Helena, Tristan de Cunha, Ascension Island

Outside of these 12, other nations have been divided into “amber” and “red” lists – the latter requiring the strictest of measures. Turkey was a notable name that was added to the Red List on Friday.

Popular destinations for the British such as France and Spain were not yet put on the green list at this point. Shapps said at a press conference on Friday that countries on the green list can have their status withdrawn at any time.

Scotland, Wales and Northern Ireland will separately announce their own travel restrictions for their residents.

British travelers are also exposed to travel restrictions in other countries, such as Australia and the United States.

U.S. and European airlines, as well as a multitude of travel companies grappling with a slump in international travel, urged their governments this week to relax the travel rules that are currently preventing most Britons from entering the country an increase in vaccination rates in their respective countries.

“We continue to encourage the US to implement a two-way policy that allows fully vaccinated travelers to travel to the US from countries with similarly successful vaccination programs,” said Airlines for America, a trade group that promotes most of the US major Airlines, including American, represents, Delta and United.

Airline executives have expressed doubts about restoring most US-Europe travel this summer, with restrictions still in place, but have been more optimistic about the possibility of re-opening UK-US travel.

American airlines have announced new flights to some destinations that have opened or are planned, such as Greece, Iceland and Croatia, in the past few weeks.

– CNBC’s Leslie Josephs contributed to coverage from New York.

Categories
Business

Lithium Mining Tasks Might Not Be Inexperienced Pleasant

Atop a long-dormant volcano in northern Nevada, workers are preparing to start blasting and digging out a giant pit that will serve as the first new large-scale lithium mine in the United States in more than a decade — a new domestic supply of an essential ingredient in electric car batteries and renewable energy.

The mine, constructed on leased federal lands, could help address the near total reliance by the United States on foreign sources of lithium.

But the project, known as Lithium Americas, has drawn protests from members of a Native American tribe, ranchers and environmental groups because it is expected to use billions of gallons of precious ground water, potentially contaminating some of it for 300 years, while leaving behind a giant mound of waste.

“Blowing up a mountain isn’t green, no matter how much marketing spin people put on it,” said Max Wilbert, who has been living in a tent on the proposed mine site while two lawsuits seeking to block the project wend their way through federal courts.

The fight over the Nevada mine is emblematic of a fundamental tension surfacing around the world: Electric cars and renewable energy may not be as green as they appear. Production of raw materials like lithium, cobalt and nickel that are essential to these technologies are often ruinous to land, water, wildlife and people.

That environmental toll has often been overlooked in part because there is a race underway among the United States, China, Europe and other major powers. Echoing past contests and wars over gold and oil, governments are fighting for supremacy over minerals that could help countries achieve economic and technological dominance for decades to come.

Developers and lawmakers see this Nevada project, given final approval in the last days of the Trump administration, as part of the opportunity for the United States to become a leader in producing some of these raw materials as President Biden moves aggressively to fight climate change. In addition to Nevada, businesses have proposed lithium production sites in California, Oregon, Tennessee, Arkansas and North Carolina.

But traditional mining is one of the dirtiest businesses out there. That reality is not lost on automakers and renewable-energy businesses.

“Our new clean-energy demands could be creating greater harm, even though its intention is to do good,” said Aimee Boulanger, executive director for the Initiative for Responsible Mining Assurance, a group that vets mines for companies like BMW and Ford Motor. “We can’t allow that to happen.”

This friction helps explain why a contest of sorts has emerged in recent months across the United States about how best to extract and produce the large amounts of lithium in ways that are much less destructive than how mining has been done for decades.

Just in the first three months of 2021, U.S. lithium miners like those in Nevada raised nearly $3.5 billion from Wall Street — seven times the amount raised in the prior 36 months, according to data assembled by Bloomberg, and a hint of the frenzy underway.

Some of those investors are backing alternatives including a plan to extract lithium from briny water beneath California’s largest lake, the Salton Sea, about 600 miles south of the Lithium Americas site.

At the Salton Sea, investors plan to use specially coated beads to extract lithium salt from the hot liquid pumped up from an aquifer more than 4,000 feet below the surface. The self-contained systems will be connected to geothermal power plants generating emission-free electricity. And in the process, they hope to generate the revenue needed to restore the lake, which has been fouled by toxic runoff from area farms for decades.

Businesses are also hoping to extract lithium from brine in Arkansas, Nevada, North Dakota and at least one more location in the United States.

The United States needs to quickly find new supplies of lithium as automakers ramp up manufacturing of electric vehicles. Lithium is used in electric car batteries because it is lightweight, can store lots of energy and can be repeatedly recharged. Analysts estimate that lithium demand is going to increase tenfold before the end of this decade as Tesla, Volkswagen, General Motors and other automakers introduce dozens of electric models. Other ingredients like cobalt are needed to keep the battery stable.

Even though the United States has some of the world’s largest reserves, the country today has only one large-scale lithium mine, Silver Peak in Nevada, which first opened in the 1960s and is producing just 5,000 tons a year — less than 2 percent of the world’s annual supply. Most of the raw lithium used domestically comes from Latin America or Australia, and most of it is processed and turned into battery cells in China and other Asian countries.

“China just put out its next five-year plan,” Mr. Biden’s energy secretary, Jennifer Granholm, said in a recent interview. “They want to be the go-to place for the guts of the batteries, yet we have these minerals in the United States. We have not taken advantage of them, to mine them.”

In March, she announced grants to increase production of crucial minerals. “This is a race to the future that America is going to win,” she said.

So far, the Biden administration has not moved to help push more environmentally friendly options — like lithium brine extraction, instead of open pit mines. The Interior Department declined to say whether it would shift its stand on the Lithium Americas permit, which it is defending in court.

Mining companies and related businesses want to accelerate domestic production of lithium and are pressing the administration and key lawmakers to insert a $10 billion grant program into Mr. Biden’s infrastructure bill, arguing that it is a matter of national security.

“Right now, if China decided to cut off the U.S. for a variety of reasons we’re in trouble,” said Ben Steinberg, an Obama administration official turned lobbyist. He was hired in January by ​Piedmont Lithium, which is working to build an open-pit mine in North Carolina and is one of several companies that have created a trade association for the industry.

Investors are rushing to get permits for new mines and begin production to secure contracts with battery companies and automakers.

Ultimately, federal and state officials will decide which of the two methods — traditional mining or brine extraction — is approved. Both could take hold. Much will depend on how successful environmentalists, tribes and local groups are in blocking projects.

On a hillside, Edward Bartell or his ranch employees are out early every morning making sure that the nearly 500 cows and calves that roam his 50,000 acres in Nevada’s high desert have enough feed. It has been a routine for generations, but the family has never before faced a threat quite like this.

A few miles from his ranch, work could soon start on Lithium Americas’ open pit mine that will represent one of the largest lithium production sites in U.S. history, complete with a helicopter landing pad, a chemical processing plant and waste dumps. The mine will reach a depth of about 370 feet.

Mr. Bartell’s biggest fear is that the mine will consume the water that keeps his cattle alive. The company has said the mine will consume 3,224 gallons per minute. That could cause the water table to drop on land Mr. Bartell owns by an estimated 12 feet, according to a Lithium Americas consultant.

While producing 66,000 tons a year of battery-grade lithium carbonate, the mine may cause groundwater contamination with metals including antimony and arsenic, according to federal documents.

The lithium will be extracted by mixing clay dug out from the mountainside with as much as 5,800 tons a day of sulfuric acid. This whole process will also create 354 million cubic yards of mining waste that will be loaded with discharge from the sulfuric acid treatment, and may contain modestly radioactive uranium, permit documents disclose.

A December assessment by the Interior Department found that over its 41-year life, the mine would degrade nearly 5,000 acres of winter range used by pronghorn antelope and hurt the habitat of the sage grouse. It would probably also destroy a nesting area for a pair of golden eagles whose feathers are vital to the local tribe’s religious ceremonies.

“It is real frustrating that it is being pitched as an environmentally friendly project, when it is really a huge industrial site,” said Mr. Bartell, who filed a lawsuit to try to block the mine.

At the Fort McDermitt Indian Reservation, anger over the project has boiled over, even causing some fights between members as Lithium Americas has offered to hire tribal members in jobs that will pay an average annual wage of $62,675 — twice the county’s per capita income — but that will come with a big trade-off.

“Tell me, what water am I going to drink for 300 years?” Deland Hinkey, a member of the tribe, yelled as a federal official arrived at the reservation in March to brief tribal leaders on the mining plan. “Anybody, answer my question. After you contaminate my water, what I am going to drink for 300 years? You are lying!”

The reservation is nearly 50 miles from the mine site — and far beyond the area where groundwater may be contaminated — but tribe members fear the pollution could spread.

“It is really a David versus Goliath kind of a situation,” said Maxine Redstar, the leader of the Fort McDermitt Paiute and Shoshone Tribes, noting that there was limited consultation with the tribe before the Interior Department approved the project. “The mining companies are just major corporations.”

Tim Crowley, a vice president at Lithium Americas, said the company would operate responsibly — planning, for example, to use the steam from burning molten sulfur to generate the electricity it needs.

“We’re answering President Biden’s call to secure America’s supply chains and tackle the climate crisis,” Mr. Crowley said.

A spokesman noted that area ranchers also used a lot of water and that the company had purchased its allocation from another farmer to limit the increase in water use.

The company has moved aggressively to secure permits, hiring a lobbying team that includes a former Trump White House aide, Jonathan Slemrod.

Lithium Americas, which estimates there is $3.9 billion worth of recoverable lithium at the site, hopes to start mining operations next year. Its largest shareholder is the Chinese company Ganfeng Lithium.

The desert sands surrounding the Salton Sea have drawn worldwide notice before. They have served as a location for Hollywood productions like the “Star Wars” franchise.

Created by flooding from the Colorado River more than a century ago, the lake once thrived. Frank Sinatra performed at its resorts. Over the years, drought and poor management turned it into a source of pollutants.

But a new wave of investors is promoting the lake as one of the most promising and environmentally friendly lithium prospects in the United States.

Lithium extraction from brine has long been used in Chile, Bolivia and Argentina, where the sun is used over nearly two years to evaporate water from sprawling ponds. It is relatively inexpensive, but it uses lots of water in arid areas.

The approach planned at the Salton Sea is radically different from the one traditionally used in South America.

The lake sits atop the Salton Buttes, which, as in Nevada, are underground volcanoes.

For years, a company owned by Berkshire Hathaway, CalEnergy, and another business, Energy Source, have tapped the Buttes’ geothermal heat to produce electricity. The systems use naturally occurring underground steam. This same water is loaded with lithium.

Now, Berkshire Hathaway and two other companies — Controlled Thermal Resources and Materials Research — want to install equipment that will extract lithium after the water passes through the geothermal plants, in a process that will take only about two hours.

Rod Colwell, a burly Australian, has spent much of the last decade pitching investors and lawmakers on putting the brine to use. In February, a backhoe plowed dirt on a 7,000-acre site being developed by his company, Controlled Thermal Resources.

“This is the sweet spot,” Mr. Colwell said. “This is the most sustainable lithium in the world, made in America. Who would have thought it? We’ve got this massive opportunity.”

A Berkshire Hathaway executive told state officials recently that the company expected to complete its demonstration plant for lithium extraction by April 2022.

The backers of the Salton Sea lithium projects are also working with local groups and hope to offer good jobs in an area that has an unemployment rate of nearly 16 percent.

“Our region is very rich in natural resources and mineral resources,” said Luis Olmedo, executive director of Comite Civico del Valle, which represents area farm workers. “However, they’re very poorly distributed. The population has not been afforded a seat at the table.”

The state has given millions in grants to lithium extraction companies, and the Legislature is considering requiring carmakers by 2035 to use California sources for some of the lithium in vehicles they sell in the state, the country’s largest electric-car market.

But even these projects have raised some questions.

Geothermal plants produce energy without emissions, but they can require tens of billions of gallons of water annually for cooling. And lithium extraction from brine dredges up minerals like iron and salt that need to be removed before the brine is injected back into the ground.

Similar extraction efforts at the Salton Sea have previously failed. In 2000, CalEnergy proposed spending $200 million to extract zinc and to help restore the Salton Sea. The company gave up on the effort in 2004.

But several companies working on the direct lithium extraction technique — including Lilac Solutions, based in California, and Standard Lithium of Vancouver, British Columbia — are confident they have mastered the technology.

Both companies have opened demonstration projects using the brine extraction technology, with Standard Lithium tapping into a brine source already being extracted from the ground by an Arkansas chemical plant, meaning it did not need to take additional water from the ground.

“This green aspect is incredibly important,” said Robert Mintak, chief executive of Standard Lithium, who hopes the company will produce 21,000 tons a year of lithium in Arkansas within five years if it can raise $440 million in financing. “The Fred Flintstone approach is not the solution to the lithium challenge.”

Lilac Solutions, whose clients include Controlled Thermal Resources, is also working on direct lithium extraction in Nevada, North Dakota and at least one other U.S. location that it would not disclose. The company predicts that within five years, these projects could produce about 100,000 tons of lithium annually, or 20 times current domestic production.

Executives from companies like Lithium Americas question if these more innovative approaches can deliver all the lithium the world needs.

But automakers are keen to pursue approaches that have a much smaller impact on the environment.

“Indigenous tribes being pushed out or their water being poisoned or any of those types of issues, we just don’t want to be party to that,” said Sue Slaughter, Ford’s purchasing director for supply chain sustainability. “We really want to force the industries that we’re buying materials from to make sure that they’re doing it in a responsible way. As an industry, we are going to be buying so much of these materials that we do have significant power to leverage that situation very strongly. And we intend to do that.”

Gabriella Angotti-Jones contributed reporting.

Categories
Entertainment

Lincoln Heart’s Plaza Is Going Inexperienced. Actually.

Lincoln Center, which is holding a series of outdoor performances while its theaters will remain closed due to the pandemic, announced Tuesday that it would transform the space around its fountain into a park-like setting by covering it with artificial turf.

Since the center was using its outdoor areas as stages this spring and summer, it turned to a set designer, Mimi Lien, to redesign its campus. She had a plan to transform the space into what she calls “The GREEN” – adding a pop of color to a palette dominated by white travertine and turning the space into the grassy oasis she hopes that she invites New Yorkers for performances and relaxation.

“I wanted to create a place where you could lie on a grassy slope all afternoon reading a book,” Lien, a MacArthur Genius Fellow, said in a statement. “Get a coffee and sit in the sun. Bring your babies and frolic in the grass. Have a picnic with colleagues. “

“Like an urban green,” she added, “a place to collect.”

The installation, which will open on May 10 and remain operational through September, will be the physical centerpiece of Restart Stages, an initiative Lincoln Center announced in February to use its outdoor areas for live performances. The initiative began last week with a New York Philharmonic performance for healthcare workers and has since continued with a blood donation and other pop-up arts programs.

The artificial turf will be green in another sense: officials said it would be made from “high soy-content, recycled, sourced entirely from US farmers”. There will also be a small snack bar and books will be available to borrow. Events that will be held in the room will be announced in the coming weeks, officials said.

The room is open from 9 a.m. to midnight. Face covering, social distancing, and other health and safety protocols are required. The place is cleaned regularly, officials said.

Categories
Politics

Noah Inexperienced, Capitol Suspect, Struggled Earlier than Assault

Mr. Green’s compliance will likely increase control of the group as investigators attempt to determine if his beliefs played a role in Friday’s attack. The relationship between violence and the nation of Islam has been debated since it began some 90 years ago, especially since outsiders and insiders disagreed on its teachings.

“From the earliest times in the nation’s history, people have taken these texts and said it is about killing white people,” said Michael Muhammad Knight, an assistant professor of religion and cultural studies at the University of Central Florida, who said Islam specializes in American.

“The nation has a very strong anti-violence discourse that goes back to the very beginning,” he said. “When you look at the nation, you consistently fail to see the number of bodies white supremacist organizations have.”

In his Facebook posts, Mr. Green sometimes used apocalyptic language, suggesting that he believed in an impending conflict at the end of the world. He was referring to the “mother wheel,” which in the nation’s teachings is a spaceship that will descend to America in an apocalyptic battle, Knight explained.

In his last Facebook post on March 21st, Mr. Green wrote about a “divine warning” that these were the “last days of our world as we know it”.

Court records in Indiana, where he lived briefly, show that Mr. Green filed a motion in December to legally change his name to Noah Zaeem Muhammad. However, when he failed to appear for a hearing in the final days of March, the case was dismissed.

At this point he was back in Virginia and living with his brother. Only a few days later he would be driving to the Capitol.

Elizabeth Dias, Ben Decker and Robyn Sidersky contributed to the coverage. Jack Begg contributed to the research.

Categories
Politics

Regardless of Issues Within the Previous, Biden to Attempt Once more with ‘Inexperienced’ Stimulus

Wind power has more than tripled in the past decade and now generates nearly 8 percent of the country’s electricity. Solar energy, which generated less than 1 percent of the country’s electricity in 2010, now generates about 2 percent and is growing rapidly. Economists generally agree that the Obama incentive, which brought these industries around $ 40 billion in credit and tax incentives, deserves some credit.

But experts also point to a fundamental problem with throwing money on climate change: it’s not a particularly effective way to cut emissions from the pollution caused by the warming of the planet. While Obama’s green spending created new construction jobs in the weather and helped turn a handful of boutique wind and solar companies into thriving industries, U.S. emissions of greenhouse gases that trap heat have remained roughly the same since 2010, five million tons per year are expected to stay at the same level for decades to come, unless there are new guidelines to enforce reductions like taxes or regulations.

Mr Obama had hoped to combine the recovery bill money with a new bill that would limit emissions to warm the planet, but those efforts died in Congress. His administration then passed emissions regulations, but these were blocked by the courts and withdrawn by the Trump administration.

The Restoration Act “was a success in creating jobs but failed to meet emissions reduction targets,” said David Popp, professor of public administration at Syracuse University and lead author of the National Bureau of Economics’ study on the green incentive of money. “And this new incentive alone will not be enough to reduce emissions.

“If you can’t combine it with a policy that forces people to cut emissions, a high spending bill won’t have much of an impact,” said Popp.

Frequently asked questions about the new stimulus package

How high are the business stimulus payments in the bill and who is entitled?

The stimulus payments would be $ 1,400 for most recipients. Those who are eligible would also receive an identical payment for each of their children. To qualify for the full $ 1,400, a single person would need an adjusted gross income of $ 75,000 or less. For householders, the adjusted gross income should be $ 112,500 or less, and for married couples filing together, that number should be $ 150,000 or less. To be eligible for a payment, an individual must have a social security number. Continue reading.

What Would the Relief Bill do for Health Insurance?

Buying insurance through the government program known as COBRA would temporarily become much cheaper. Under the Consolidated Omnibus Budget Reconciliation Act, COBRA generally lets someone who loses a job purchase coverage through their previous employer. But it’s expensive: under normal circumstances, a person must pay at least 102 percent of the cost of the premium. Under the Relief Act, the government would pay the full COBRA premium from April 1 to September 30. An individual who qualified for new employer-based health insurance elsewhere before September 30th would lose their eligibility for free coverage. And someone who left a job voluntarily would also be ineligible. Continue reading

What would the child and dependent care tax credit bill change?

This loan, which helps working families offset the cost of looking after children under the age of 13 and other dependents, would be significantly extended for a single year. More people would be eligible and many recipients would get a longer break. The bill would also fully refund the balance, which means you could collect the money as a refund even if your tax bill were zero. “This will be helpful to people on the lower end of the income spectrum,” said Mark Luscombe, chief federal tax analyst at Wolters Kluwer Tax & Accounting. Continue reading.

What changes to the student loan are included in the invoice?

There would be a big one for people who are already in debt. You wouldn’t have to pay income taxes on debt relief if you qualify for loan origination or cancellation – for example, if you’ve been on an income-based repayment plan for the required number of years, if your school cheated on you, or if Congress or the President whisper $ 10,000 debt gone for a large number of people. This would be the case for debts canceled between January 1, 2021 and the end of 2025. Read more.

What would the bill do to help people with housing?

The bill would provide billions of dollars in rental and utility benefits to people who are struggling and at risk of being evicted from their homes. About $ 27 billion would be used for emergency rentals. The vast majority of these would replenish what is known as the Coronavirus Relief Fund, which is created by the CARES Act and distributed through state, local, and tribal governments, according to the National Low Income Housing Coalition. This is on top of the $ 25 billion provided by the aid package passed in December. In order to receive financial support that could be used for rent, utilities and other housing costs, households would have to meet various conditions. Household income must not exceed 80 percent of area median income, at least one household member must be at risk of homelessness or residential instability, and individuals would have to be due to the pandemic. According to the National Low Income Housing Coalition, assistance could be granted for up to 18 months. Lower-income families who have been unemployed for three months or more would be given priority for support. Continue reading.

But, he added, “Spending money is politically easier than enacting emission-reduction policies.” If this “sets up the energy industry so that it is ultimately cheaper to cut emissions, it could create more political support for it” by making laws or regulations less painful, he said.

Categories
Business

JC Penney interim CEO sees inexperienced shoots as retailer plots turnaround

An empty parking lot is located outside a closed JC Penney Co. store in Mt. Juliet, Tennessee on Thursday, April 16, 2020.

Luke Sharrett | Bloomberg | Getty Images

Just months after serving as JC Penney’s interim CEO, Stanley Shashoua said he saw signs of growth in the business.

“JC Penney is a great American family destination and our strength lies in our well-known brands and the services we offer,” he said in a telephone interview. “We’re seeing improvements in business week by week and we are increasingly optimistic as we work on it.”

In particular, he spearheaded growth in housewares and sportswear – two categories that outperformed each other during the Covid pandemic, when Americans wanted to freshen up their homes and replenish their wardrobes with more comfortable clothes. More recently, Shashoua says, customers have come to Penney for Easter dresses and other evening wear – another sign that people are ready to get dressed again.

Shashoua, who is also the chief investment officer of the largest US shopping mall owner – Simon Property Group – has been at the helm of Penney since December 31st months earlier.

Simon came to the rescue with U.S. mall owner Brookfield late last year and acquired nearly all of Penney’s bankrupt assets for $ 1.75 billion in cash and debt. This included controlling roughly 670 stores, compared to the more than 800 Penney had at the time of filing. No further store closings are currently planned.

The search for a permanent CEO is also underway, according to Shashoua, and the prospects are plentiful.

“We take our time,” he said. “We have had a lot of interest from a lot of highly skilled and highly skilled employees. And that’s very encouraging. People come to us and tell us they love Penney, grew up with Penney and are emotionally invested in it and have real views about the business. “

Simon Property is hoping for another success story

JC Penney’s problems didn’t show up overnight. Business had stalled for years due to the rise of e-commerce, and many analysts said management hadn’t invested in store modernization and modern merchandising. A heavy debt burden and the pandemic ultimately pushed them over the edge.

After going through bankruptcy proceedings, Shashoua said the Texas-based company has a stronger balance sheet and better liquidity, despite not providing numbers. He said the focus has shifted to keeping the flow of money in the coffers. He added that vendor contracts were being scaled back and investments were being made in introducing more private label apparel and household brands.

“It’s a very similar approach in the early stages that we’ve taken with all of the other companies we’ve turned around,” he said.

Simon has already helped bring several retailers out of bankruptcy. These include malls-based retailers Aeropostale, Forever 21, Brooks Brothers, and Lucky Brand. The latter two filed for bankruptcy in 2020.

David Simon, Simon CEO, said his company “made a lot of money” on the Aeropostale deal. He also told analysts, “We are certainly as good as the private equity folks when it comes to retail investing.”

In his quest to save Penney with Brookfield, Simon saw an opportunity in Penney’s loyal and diverse customer base. At one point, the company had Penney stores in about 50% of its U.S. malls, based on an analyst’s analysis, which also likely sparked the landlord’s interest in investing to avoid further store closures in its own malls.

Simon Property shares are up more than 33% this year. It has a market capitalization of $ 42.7 billion.

New brands are coming into the stores

Simon’s retail stores often include working with apparel licensing company Authentic Brands Group, which is now also playing a role in the revitalization of JC Penney.

Shashoua said some of ABG’s clothing brands, such as Forever 21 and Juicy Couture, will be added to Penney’s range of in-store and online products. “2021 is more about rebuilding the company and I think you will see good growth in 2022,” he said.

According to Shashoua, Penney will focus on household goods, household goods for men in large and large sizes, goods for women in inclusive size ranges, and baby and children’s clothing in the coming months. He also wants to expand online retail, which now accounts for around 20% of Penney’s sales.

Of course, Penney’s path to profitable growth, winning customers back, and gaining market share in key categories like apparel and footwear will not be easy.

Consumers have increasingly stayed away from suburban centers, especially during the pandemic. Many have shifted their online shopping in favor of ecommerce giants like Amazon and Walmart. Clothing sales have also been hampered during the health crisis as Americans spent much less time getting dressed to get off.

U.S. consumer spending on clothing and shoes declined 48% yoy last April, when many retail stores selling apparel and accessories were closed for the entire month, according to a record from Coresight Research. More recently, spending in this category has risen again, up 0.8% in January, Coresight said.

Last year, department store operators Neiman Marcus, Stage Stores, Lord & Taylor and Century 21 filed for bankruptcy together with Penney.

Penney hopes to avoid the fate of the iconic department store chain Sears. Since filing for bankruptcy in 2018, Sears has slowly shrunk his store space to become a fraction of his former self.

“We are strengthening our retail foundations by focusing on modern retail, digital media and an engaging customer experience,” said Shashoua. “Retail is moving faster than ever … and that’s why we aim to act fast.”

Categories
World News

A Inexperienced Wave? Mexico’s Marijuana Market Could Be Middling

MEXICO CITY – Mexico, a country that has been shaped by cartels for decades, is about to take an important step in drug policy. This week the House of Commons approved a landmark law legalizing recreational marijuana that would make it the world’s largest legal drug market.

Given that legalization is far from certain to garner Senate and President approval, many in the business world are predicting a Mexican green boom: a newly legal industry, tens of thousands of jobs, millions of dollars in profits for savvy entrepreneurs and welcome tax revenue for the US government.

However, many business analysts and economists are cautious, warning that the cannabis industry here is more of a green slip than a boom. The opening of a legal market is more legal and symbolic than economic in nature, they argue, citing relatively low domestic demand and low export opportunities for the product as well as seemingly restrictive regulatory measures.

“It’s hard to see any obvious far-reaching implications for the Mexican economy,” said Jeffrey Miron, an economist at Harvard University. “You will see a small drag on measured GDP,” he added, “but the people who claim that legalization will make this a big boost to the economy make no sense at all.”

But industry sponsors are excited about the prospects.

The cannabis industry “is finally going to generate income in terms of employment, in terms of the local economy, in terms of taxes,” said Erick Ponce, a Mexican entrepreneur and president of the Cannabis Industry Promotion Group, a local research and advocacy group.

“We definitely see it as a major economic boom for the country, especially in the middle of a pandemic,” added Ponce.

The Mexican marijuana industry could be worth up to $ 3.2 billion annually, and big cannabis companies like Canada’s Canopy Growth are already watching the market, according to a January report by a cannabis data analytics firm, New Frontier Data.

But Canada can be a cautionary story. Ahead of its own legalization in 2018, investors and analysts predicted a surge in cannabis cash, but the deal was not a sweeping success.

In the final quarter of 2020, the country’s national statistics agency estimated that consumers were spending Canadian $ 918 million (about $ 736 million) on legal weed products, significantly less than predicted prior to legalization. The result was sluggish and most manufacturers are still reporting losses running into the millions. In December, Canopy Growth announced it was closing five facilities and laying off more than 200 employees to accelerate profitability.

“The green rush part didn’t happen,” said Michael Armstrong, associate professor at the Goodman School of Business at Brock University in Ontario. “It was a positive boost for Canada, but by no means a dramatic one.”

Official figures show that Canada, with a much smaller population, has many more regular users than Mexico: Before legalization, around 15 percent of Canadians said they had smoked marijuana in the past three months, according to the national statistics bureau, a consumer base of more than 5 million potential users.

In contrast, a 2016 study by the Mexican government found that only about 1.2 percent of the population aged 12 to 65 said they had smoked a pot in the previous month, and 2.1 percent, about 1.8 Million, last year.

Legalization advocates argue that such numbers are misleading: in a country like Mexico, where the majority of the population is against weed legalization, many people do not admit to smoking it.

“Cannabis is a problem with stigma, with taboo,” said entrepreneur Ponce. “We don’t really know the impact of the local market because there are no real statistics.”

But even if surveys underestimate the number of potential consumers, most experts downplay the size of the market in Mexico.

“I don’t think there will be much demand,” said Jorge Javier Romero Vadillo, political scientist at the Autonomous Metropolitan University in Mexico. And “I don’t think this regulatory process will significantly increase demand.”

Romero said the new law’s stringent licensing requirements for the cultivation, packaging and sale of marijuana could keep smallholders and sellers out of the legal market.

“With the rules they want to apply, which are very restrictive, they are going to open a tiny market,” he said. “They are rules that are so strict, with a barrier to entry that is so high that few will choose to enter the legal market.”

California, which legalized recreational marijuana in 2018, had similar teething troubles: In the first year of legalization, legal vendors in the state sold $ 500 million less than the previous year when it was licensed for medical use only.

According to Daniel Sumner, director of the Center for Agricultural Issues at the University of California at Davis, strict regulations and high taxes kept the majority of California producers and sellers in the gray or black market. In many communities, marijuana-related businesses have faced severe local opposition.

Sales have increased significantly recently as the number of licensed growers and vendors has gradually increased and the state introduced cannabis taxes of $ 1 billion last year, according to Sumner.

“It’s a formidable business,” he said, but “it’s a drop in the ocean” in the context of California’s annual budget of more than $ 200 billion.

With a relatively small consumer base and complex regulatory measures, Mexico’s recreational market is unlikely to come close to that, analysts say.

Instead, some industry leaders say the real money in Mexico may be in medical cannabis, which has been legal in Mexico since 2017, as well as industrial hemp, which is also regulated in the new bill and could be used to make anything from plastics to paper.

“The marijuana market is a very small market,” said Guillermo Nieto, president of the National Cannabis Industries Association, a Mexico City-based trade group. “Agriculturally, liking industrial hemp legalization won’t help us.”

In the short term, some business people say Mexico’s biggest gains could be doing what Mexico is already best at: manufacturing – in this case, possibly cannabis products such as supplements and cosmetics.

Still, the biggest impact may be more symbolic than monetary: As the largest economy to legalize the drug to date, Mexico, home to around 128 million people, could encourage other countries, including its northern neighbor, to follow suit.

“Sometimes it’s nerve-wracking to be the first to step into a pond that could be infested with sharks,” said Miron, the Harvard professor. “But when four or five other people have done it and it’s okay, more people will try.”

Categories
World News

Covid-19: F.D.A. Panel Offers Inexperienced Mild to Johnson & Johnson’s Vaccine

Here’s what you need to know:

Credit…Phill Magakoe/Agence France-Presse — Getty Images

Johnson & Johnson’s Covid-19 vaccine was endorsed on Friday by a panel of experts advising the Food and Drug Administration, clearing the last hurdle before a formal authorization expected on Saturday, according to two people familiar with the agency’s plans. The nation’s first shipments will go out in the days after that.

It will be the third shot made available to the United States in the year since the first surge of coronavirus cases began washing over the country, and it will be the first vaccine to require just one dose instead of two.

Johnson & Johnson’s formulation worked well in clinical trials, particularly against severe disease and hospitalizations, even though it did not match the sky-high efficacy rates of the first two vaccines made by Pfizer-BioNTech and Moderna.

The panel, made up of independent infectious disease experts, statisticians and epidemiologists, voted unanimously in favor of authorizing the vaccine.

“We’re dealing with a pandemic right now,” said Dr. Jay Portnoy, an allergist at Children’s Mercy Hospital in Kansas City, Mo., and a member of the board. “It’s great that we have this vaccine.”

During Johnson & Johnson’s presentation to the panel, Dr. Gregory Poland, a virologist at the Mayo Clinic and a paid external consultant for the company, noted the vaccine’s efficacy, ease of use and low rate of side effects. It “nearly checks all the boxes,” he said. “To me, it is clear that the known benefits vastly outweigh the known risks.”

The vaccine had an overall efficacy rate of 72 percent in the United States and 64 percent in South Africa, where a concerning variant emerged in the fall. The shot showed 86 percent efficacy against severe forms of Covid-19 in the United States, and 82 percent against severe disease in South Africa.

Those are strong numbers, but lower than the roughly 95 percent efficacy rates of Pfizer-BioNTech and Moderna’s vaccines against mild, moderate and severe cases of Covid.

Johnson & Johnson’s vaccine is a single dose and uses a different kind of technology than the authorized vaccines. And the scale and size of the Johnson & Johnson trial was vast, spanning eight countries, three continents and nearly 45,000 participants.

Although the vaccine works with one shot, studies are underway to determine if a second dose would increase its protective effects.

Dr. Paul Offit, a pediatrician at the Children’s Hospital of Philadelphia and one of the panelists, pointed out on Friday that in early clinical trials that took place over the summer, Johnson & Johnson found that a second dose led to levels of coronavirus antibodies that were almost three times higher than those produced by one dose alone.

The results of Johnson & Johnson’s two-dose, late-stage clinical trial are not expected until July at the earliest. If those results turn out to be better than a single dose, Dr. Offit asked, “Does this then become a two-dose vaccine?”

Dr. Johan Van Hoof, the global head of vaccine research and development at Janssen Pharmaceuticals, the drug development arm of Johnson & Johnson, said that the company decided to pursue the one-shot strategy after its studies on monkeys last spring showed that a single dose was enough to provide strong protection against the disease.

“It’s clear that in a situation of an outbreak, in a raging epidemic, the big challenge is to get the epidemic under control,” he said. “The regimen is extremely well positioned to be used in outbreak situations.”

But Dr. Van Hoof also noted that it will be important to track volunteers who received a single dose to see if their immunity changes in the months to come. It might be necessary to deliver a booster shot for long-term protection. “The big question mark still is, how long does protection last?” he said.

After the vote, the F.D.A. told Johnson & Johnson that it “will rapidly work toward finalization and issuance of an emergency use authorization,” according to a statement. The F.D.A. also said that it had notified other government agencies “so they can execute their plans for timely vaccine distribution.”

United States › United StatesOn Feb. 26 14-day change
New cases 78,262 –29%
New deaths 2,266 –20%
World › WorldOn Feb. 26 14-day change
New cases 410,857 –5%
New deaths 9,468 –23%

U.S. vaccinations ›

Where states are reporting vaccines given

Video

transcript

Back

transcript

Decline in Coronavirus Cases ‘May Be Stalling,’ C.D.C. Director Warns

Dr. Rochelle Walensky, director of the Centers for Disease Control and Prevention, said on Friday that a recent decline in coronavirus cases across the U.S. “may be stalling” and urged governors not to relax restrictions.

Over the last few weeks, cases in hospital admissions in the United States have been coming down since early January and deaths have been declining in the past week. But the latest data suggest that these declines may be stalling, potentially leveling off at still a very high number. We at C.D.C. consider this a very concerning shift in the trajectory. We are watching these concerning data very closely to see where they will go over the next few days. But it’s important to remember where we are in the pandemic. Things are tenuous. Now is not the time to relax restrictions. Although we’ve been experiencing large declines in cases and admissions over the past six weeks, these declines follow the highest peak we have experienced in the pandemic. We may be done with the virus, but clearly, the virus is not done with us. We cannot get comfortable or give in to a false sense of security that the worst of the pandemic is behind us. Not now, not when mass vaccination is so very close.

Video player loadingDr. Rochelle Walensky, director of the Centers for Disease Control and Prevention, said on Friday that a recent decline in coronavirus cases across the U.S. “may be stalling” and urged governors not to relax restrictions.CreditCredit…Josh Bell/The Sun News, via Associated Press

The federal government warned impatient governors against relaxing pandemic control measures on Friday, saying that a recent steep drop in U.S. coronavirus cases and deaths “may be stalling” and “potentially leveling off at still a very high number” — a worrisome development that comes as more cases of concerning new variants have been found and could suggest that a return to normalcy is not yet quite as near as many Americans had hoped.

“Things are tenuous,” Rochelle Walensky, the director of the Centers for Disease Control and Prevention, said at a White House briefing on the pandemic. “Now is not the time to relax restrictions.”

Her warning was bolstered by Dr. Anthony S. Fauci, the government’s top epidemiologist, as the Biden administration scrambled to stay ahead of any new wave. President Biden himself flew to Houston to showcase the government’s latest mass vaccine site.

According to a New York Times database, virus cases across the United States appear to be leveling off from the steep decline that began in January, with figures comparable to those reported in late October. Cases have slightly increased week over week in recent days, though severe weather limited testing and reporting in Texas and other states the previous week, and not all states reported complete data on the Presidents Day holiday. The seven-day average of new cases was 77,800 as of Thursday.

While deaths tend to fluctuate more than cases and hospital admissions, Dr. Walensky said at the briefing on Friday, the most recent seven-day average is slightly higher than the average earlier in the week. The seven-day average of newly reported deaths was 2,165, as of Thursday.

“We at C.D.C. consider this a very concerning shift in the trajectory,” she said, adding, “I want to be clear: cases, hospital admissions and deaths — all remain very high and the recent shift in the pandemic must be taken extremely seriously.”

Dr. Walensky said some of the rise may be attributable to new variants of the coronavirus that spread more efficiently and quickly. The so-called B.1.1.7 variant, which first emerged in Britain, now accounts for approximately 10 percent of all cases in the United States, up from one to four percent a few weeks ago, she said. The U.S. ability to track variants is much less robust than Britain’s.

“I know people are tired; they want to get back to life, to normal,” she said. “But we’re not there yet.”

As cases had declined, some governors around the United States have begun to relax pandemic restrictions. States with Republican governors appeared to be more eager to make rollbacks, though New York, which has a Democrat as governor, has also been easing restrictions on a variety of activities.

On Friday, Gov. Henry McMaster of South Carolina, a Republican, announced that on Monday, restaurants would be able to serve alcohol past 11 p.m., and residents would not need to get approval from the state to hold events with 250 people or more. To try to limit the spread of the virus, the state last year ordered bars to stop serving alcohol after 11 p.m., which is three hours earlier than the late-night bar crowd was used to.

Brian Symmes, a spokesman for Mr. McMaster, said the governor “appreciates perspectives that differ from his own” but “respectfully disagrees” with Dr. Walensky’s assessment.

In Arkansas, Gov. Asa Hutchinson announced Friday that he’d be lifting restrictions around capacity limits for bars, restaurants, gyms and large venues, but extending the state’s emergency order and mask mandate until March 31. The current emergency order was set to expire February 27.

On Thursday, Gov. Greg Abbott of Texas said he was considering lifting a statewide mask mandate in place since July.

In Mississippi, Gov. Tate Reeves said he was also considering pulling back some restrictions, particularly mask mandates for people who have been fully vaccinated. As of Friday, 13 percent of the state’s population has received at least one shot, and 6.2 percent have received two, according to a Times database.

Dr. Fauci echoed Dr. Walensky’s warnings that more rollbacks at state or local levels would be unwise, noting that case levels remained at a “very precarious position.”

“We don’t want to be people always looking at the dark side of things, but you want to be realistic,” he said. “So we have to carefully look at what happens over the next week or so with those numbers before you start making the understandable need to relax on certain restrictions.”

In Oregon, Gov. Kate Brown extended the state’s emergency order until May 2. The state recorded a sharp decreases in daily cases, hospitalizations and deaths this week, but citing the new variants Ms. Brown said that “now is not the time to let up our guard.”

Eileen Sullivan Remy Tumin, Nicholas Bogel-Burroughs and Mitch Smith contributed reporting.

A trial site for treatments from Regeneron and Eli Lilly in Mesa, Ariz., last summer.Credit…Adriana Zehbrauskas for The New York Times

The federal government has agreed to buy 100,000 doses of a recently authorized Covid-19 treatment from Eli Lilly, increasing the supply of such drugs for patients who are high risk of becoming seriously ill but are not yet hospitalized.

Under the deal, announced on Friday, the government will pay $210 million and Eli Lilly will ship out the doses by the end of March. The government has the option to buy 1.1 million more doses of the treatment through November, but how many of those doses ultimately get ordered will depend in part on the course of the pandemic in the United States.

The treatment is a cocktail of monoclonal antibodies combining the Eli Lilly drug known as bamlanivimab — which was authorized last November and is in use for high-risk Covid-19 patients — with a second drug known as etesevimab. The combination received emergency authorization earlier this month from the Food and Drug Administration. Both drugs consist of artificial copies of the antibodies that are naturally generated when a person’s immune system fights off an infection.

The U.S. government previously agreed to buy nearly 1.5 million doses of bamlanivimab alone. Eli Lilly has delivered more than 1 million doses already, with the remainder to be delivered by the end of March. More than 660,000 doses of bamlanivimab have been shipped out to states and other jurisdictions.

Eli Lilly’s new combination therapy could offer an advantage over bamlanivimab alone if worrisome coronavirus variants — particularly B.1.351, the one first identified in South Africa — take off in the United States. While bamlanivimab alone was found in a lab study to be powerless against the B.1.351 variant, preliminary data suggest that the combination therapy may be better able to fight off variants. That’s because so-called escape mutations in the variants that may enable them to avoid one antibody may not work against the second.

Another monoclonal antibody cocktail, made by Regeneron, is also authorized in the United States. Nearly 100,000 doses of that therapy have been shipped out.

Antibody treatments got a publicity boost last fall when they were given to Donald J. Trump when he was infected in the last months of his presidency, and to other high-profile Republicans, but they were surprisingly underused in many places in their first months of availability. Overwhelmed hospitals did not prioritize the treatments, which are cumbersome and must be given via intravenous infusions. Many patients and doctors did not know to ask for them or how to find them.

In December, the federal government’s early data collected from hospitals suggested that they had given only about 20 percent of their supply to patients. But that picture is changing. Eli Lilly has seen usage of bamlanivimab alone rise to around 40 percent nationwide, with uptake much higher in some places, Janelle Sabo, who leads Eli Lilly’s work on Covid-19 antibodies, said in an interview earlier this week.

People over the age of 65 wait in line at a mobile Covid-19 vaccination site in the Chinatown neighborhood of Los Angeles.Credit…Philip Cheung for The New York Times

As more people in the United States learn of someone close to them who has received a Covid-19 vaccine, they are becoming more open to getting the vaccine themselves, according to the latest survey from the Kaiser Family Foundation, which has been monitoring attitudes since December.

Across most demographic groups, vaccine hesitancy, though still substantial, continues to abate. Fifty-five percent of adults now say they have either received one dose or will get it as soon as they can, up from 34 percent in December.

The so-called “wait and see” group is inching down, too, to 22 percent in February from 31 percent in January. But Black adults (34 percent) and Latino adults (26 percent) remain more inclined than white adults (18 percent) to take a wait-and-see approach.

About one in five Americans still refuses to get the shot, or said they would only do so if compelled by work or school.

Kaiser also took note of the political affiliation of its survey respondents. From December to February, the proportion of Democrats who had either gotten the shot or wanted to soared to 75 percent from 47 percent. Republicans remained more hesitant, but there was a notable increase in the amount who were vaccinated or hoped to be, to 41 percent from 28 percent.

Views of the vaccine were divided by age as well. People 65 and older, among the first demographic groups eligible for the shot, were among the most enthusiastic, an attitude that crossed racial lines. But while nearly half of older white people said they had already received at least one dose, only about one-third of older Black people said they had.

The survey also examined the most common reasons for hesitation. People were most concerned about side effects and also about the rapidity with which the vaccines were developed. They were also still gripped by misinformation, fearing they would have to pay for the vaccine (it is available at no cost) and that it would give them Covid (it does not).

The Centers for Disease Control and Prevention said on Friday about 47.2 million people in the U.S. have received at least one dose of a vaccine, including about 22.6 million people who have been fully vaccinated.

Alisa Haushalter, the director of the Shelby County Health Department in Tennessee, in March. The county’s mayor said Ms. Haushalter had submitted her resignation on Friday.Credit…Mark Weber/Daily Memphian, via Associated Press

The top health official in Memphis submitted her resignation after state health officials accused her department, which oversees the vaccine rollout in the state’s most populous county, of wasting thousands of doses, the mayor of Shelby County, Tenn., said on Friday.

The swift downfall of Alisa Haushalter, the Shelby County Health Department director, came hours after a news conference in which Dr. Lisa Piercey, Tennessee’s health commissioner, laid out a series of stunning accusations of mismanagement by Ms. Haushalter’s department, including episodes in which a volunteer may have stolen doses and another administered shots to two children.

State health officials have been investigating the department for at least a week after Ms. Haushalter first reported that vaccine doses had expired, Dr. Piercey said.

Investigators confirmed the expiration of 1,578 doses last week, but it was only this week that Shelby County health officials acknowledged that an additional 840 doses had expired on Feb. 15, bringing the total to more than 2,400.

And Dr. Piercey said that when she met with the mayor on Thursday, he said that he had heard a rumor about a volunteer possibly stealing vaccines on Feb. 3, but Dr. Piercey said the theft was never reported to any state or federal authorities. The state health department alerted the Federal Bureau of Investigation to the possible theft shortly after that conversation, she said. Dr. Piercey also said that a volunteer had wrongly vaccinated two children on Feb. 3.

The City of Memphis on Wednesday took over the responsibility of storing, transporting and allocating the vaccines.

A senior receives the coronavirus vaccine in Quebec on Thursday.Credit…Christinne Muschi/Reuters

Canada’s drug regulator authorized the AstraZeneca vaccine on Friday as well as a version of it developed by the Serum Institute of India. The vaccine, which was developed with Oxford University, has not yet been authorized for use in the United States but has been key to Britain’s rapid vaccination rollout.

The addition of a third vaccine, in addition to the offerings from Moderna and Pfizer-BioNTech, may help Canada alleviate a growing dissatisfaction about the sluggish pace of vaccination in the country.

“Vaccines will keep arriving faster and faster,” Prime Minister Justin Trudeau told a news conference. “We now have a third safe and effective vaccine.”

Mr. Trudeau said that the government expects to receive, within days, about 500,000 doses out of an order of two million doses of the Serum Institute version of the vaccine, known as Covishield. About 20 million doses will start arriving from AstraZeneca in the spring.

The AstraZeneca vaccine, the first virus vector-based inoculation for Covid-19 authorized in Canada, has had some stumbles. In trials in South Africa, where a more contagious virus variant has become dominant, it did not appear to protect people from mild or moderate illness, which led the country to halt its use of the vaccine.

Drug approval officials with Health Canada said on Friday that while some studies suggested that the AstraZeneca vaccine is less effective overall than others, the sample sizes used were not large enough to yield a clear conclusion. But in Germany, many people regard it as “second-class” compared to the vaccine developed by the German company BioNTech and Pfizer, and are avoiding AstraZeneca’s.

Downtown Chicago. Most scientists are optimistic that the worst of the pandemic is behind us.Credit…Lyndon French for The New York Times

Across the United States and the world, the coronavirus seems to be loosening its stranglehold. The curve of cases, hospitalizations and deaths has yo-yoed before, but never has it plunged so steeply and so quickly.

Is this it, then? Is this the beginning of the end?

The road ahead is potholed with unknowns: how well vaccines prevent further spread of the virus, whether emerging variants remain susceptible enough to the vaccines and how quickly the world is immunized, so as to halt further evolution of the virus.

And the greatest ambiguity is human behavior. Will Americans desperate for a return to pre-pandemic lifestyles continue to wear masks and distance themselves from family and friends? How much longer can communities keep businesses, offices and schools closed?

Covid-19 deaths are unlikely to again rise quite as precipitously as in the past, and the worst may be behind us. But if Americans let down their guard too soon and if the variants spread in the United States as they have elsewhere, another spike in cases may well arrive in the coming weeks.

Buoyed by the shrinking rates over all, governors are lifting restrictions across the United States and are under enormous pressure to reopen completely.

“Everybody is tired, and everybody wants things to open up again,” said Ashleigh Tuite, an infectious disease modeler at the University of Toronto. “Bending to political pressure right now, when things are really headed in the right direction, is going to end up costing us in the long term.”

Looking ahead to late March or April, the majority of scientists interviewed by The Times predicted a fourth wave of infections. But they stressed that it is not an inevitable surge if precautions are maintained for a few more weeks.

“Just hang in there a little bit longer,” Dr. Tuite said. “There’s a lot of optimism and hope, but I think we need to be prepared for the fact that the next several months are likely to continue to be difficult.”

President Biden is pushing hard for a $1.9 trillion economic rescue plan. Polls show that some Republican voters support the proposal, even if the party’s leaders do not.Credit…Doug Mills/The New York Times

In Washington, Republicans stand united in opposition to President Biden’s first major legislative proposal, a $1.9 trillion economic rescue plan that they have labeled a bloated, budget-busting “blue state bailout.”

But in rural Maine, Anthony McGill, a self-identified conservative Republican, describes the bill as something else entirely: “Most of it sounds like a good idea,” he said.

While Mr. McGill doesn’t agree with all the provisions, he supports the central thrust of the bill — another round of direct stimulus payments to nearly all Americans.

“There’s a lot of people that could use those checks. I don’t know about needing them, but we could all use them,” said Mr. McGill, 52, who voted for former President Donald J. Trump in November. “The debt is so far out of hand that it’s a fantasy number at this point. We might as well just blow it out till everything collapses.”

As Democrats prepare to vote as soon as Friday to pass the relief package in the House, Republican elected officials are struggling to overcome intraparty divides over whether to embrace the major pieces of the proposal — as well as to reconcile with the fact that many Republican voters support the plan. While Democrats are working swiftly to move their bill, Republicans are consumed by sideshows like false claims of voter fraud and what they call cancel culture, which are two major themes of the annual Conservative Political Action Conference, known as CPAC, starting on Friday in Orlando, Fla.

The lack of a unified Republican economic message reflects an unsettled party that is unable to agree on how to chart a path through a Democratic-controlled Washington. While congressional Republicans take a scattershot approach to try to undermine the legislation, mayors and governors in their party are pushing for the plan, saying their states and cities need the federal aid to keep police officers on their beats, reopen schools and help small businesses.

Polling shows a significant number of Republican voters agree: More than four in 10 Republicans back Mr. Biden’s aid package, according to polling from the online research firm SurveyMonkey for The New York Times. Over all, 72 percent of Americans said they supported the bill, a number that includes 97 percent of Democrats.

Global Roundup

A woman receiving her first injection of the Pfizer-BioNTech Covid vaccine in Pontoise, in the northwestern suburbs of Paris on Feb. 5.Credit…Andrea Mantovani for The New York Times

BRUSSELS — In vaccine-hungry, cash-rich Europe, the hunt for more doses has nations trading with each other, weighing purchases from Russia and China, and fielding offers from middlemen ranging from real to outright frauds.

Anger has been building over the European Union’s sluggish Covid vaccine rollout, which has left the E.U. member nations far behind several other wealthy countries, and many E.U. states are now looking beyond the bloc’s underwhelming joint purchasing strategy.

An immense black — or at least gray — market has arisen, with pitches from around the world at often exorbitant prices. Sellers have approached E.U. governments claiming to offer 460 million doses of vaccines, according to early results of an investigation by the bloc’s anti-fraud agency that were shared with The New York Times.

While they still plan to get vaccines from the bloc, some nations are also trying to negotiate directly with drug makers and eyeing the murky open market, where they are still unsure of the sellers and the products. Some have also agreed to swap vaccines with each other, deals some of them now have reason to regret.

The European Union last year was slow to make massive advance purchases from drug companies, acting weeks after the United States, Britain and a handful of other countries. This year, the bloc was blindsided by slower-than-expected vaccine production, and individual countries have fumbled the rollout.

About 5 percent of the E.U.’s nearly 450 million people have received at least one dose of a vaccine, versus almost 14 percent in the United States, 27 percent in Britain and 53 percent in Israel, as of earlier this week, according to the Our World in Data database and governments.

The stumbles by the world’s richest bloc of nations have turned vaccine politics toxic. Particularly galling to many Europeans is the sight of a former E.U. member, Britain, forging ahead with its vaccination and reopening plans, while many of their own societies remain under lockdown to contain a new surge of dangerous variants, their economies sinking deeper into recession.

In other international news on the pandemic:

  • The government in France has announced stricter border checks between Germany and the eastern Moselle region, one of several areas experiencing a spike in coronavirus infections. It is the latest pandemic measure to challenge the E.U.’s open borders. Officials said that starting Monday, those wanting to cross the border would have to present a negative coronavirus test from the past 72 hours. Cross-border workers in the area will be exempt.

  • President Emmerson Mnangagwa of Zimbabwe threatened this week to punish residents who do not take Covid vaccines. “You are not going to be forced to be vaccinated, but the time shall come when those who are not vaccinated won’t get jobs,” he said on Wednesday. The country of 15 million people received 200,000 donated doses from the Chinese company Sinopharm, and 600,000 more doses are expected in early March. Zimbabwe is also set to receive more than 1.1 million doses as part of the Covax distribution program for poor and middle-income countries.

  • North Korea’s borders have been closed for a year because of the pandemic, but some Russian diplomats and their families found a way home on a route that included a bus ride and a trip on a hand-pushed railroad trolley. Russia’s Foreign Ministry said on Friday that the journey by trolley was the only possible way for them to cross the border.

Vaccines are administered at the Andrew Jackson Community Center in the Bronx this month. Credit…James Estrin/The New York Times

Members of the Congressional Black Caucus and Dr. Anthony Fauci sought to reassure Black Americans that vaccine rollouts would be as equitable as possible and tried to quell anxieties over the safety of the inoculation among people of color during a televised forum Friday night.

Dr. Fauci, the government’s top infectious disease expert, said increasing pharmacies’ vaccine inventory and creating mobile units to get to hard-to-reach areas will help.

Experts say that Black and Latino Americans are being vaccinated at lower rates because they face obstacles like language barriers and inadequate access to digital technology, medical facilities and transportation. But mistrust in government officials and doctors also plays a role and is fed by social media misinformation. And in cities across the country, wealthy white residents are lining up to be vaccinated in low-income Latino and Black communities.

“It’s affecting us like no other disease, like no other epidemic has. That’s because for Black Americans, we were already behind,” Representative Barbara Lawrence, Democrat of Michigan, said during the forum on MSNBC’s “The Reid Out.”

“We’re looking at historic fear of vaccines and a fear of the health care industry because are they going to hurt us, harm us, ignore us or are they going to help us?” she said.

President Biden has said he wants to make racial equality a centerpiece of his vaccination rollout plan. He has begun shipping vaccines to federally qualified community health centers in Black and Latino communities.

While new data shows rates of vaccination in New York City’s Black and Latino communities are lower than rates in largely white communities and New York State’s Latino and Black residents were behind in vaccination totals, the absence of comprehensive national data on race and ethnicity makes it impossible to know just how equitable vaccine distribution is.

“This vaccine does not discriminate,” Ms. Lawrence said. “It hurts me when I see a line of people getting vaccines and my people are not represented but I’m invited to the funerals of those who have died. I have taken the vaccine. I believe in it. I need my people, my community, to step up.”

A Covid-19 vaccination at Howard University in Washington, D.C., in December 2020.Credit…Tasos Katopodis/Getty Images

The phone and online registration system set up by the District of Columbia for its residents to use to schedule Covid-19 vaccination appointments has been faltering after the city broadened the eligibility of prioritized residents who can make appointments on Thursday.

D.C. widened the criteria from people 65 and older to include residents with certain health conditions and those working jobs that require contact with multiple people.

But many complained on Thursday and Friday that the phone number listed for scheduling a jab was not in service, and that the website was returning error messages. Some people were able to secure an appointment, though it was not immediately clear why they were successful when others were not.

“In short … it did not go well,” one of the city’s council members, Charles Allen, said in an email to constituents on Thursday.

Mayor Muriel Bowser blamed the problems on the “high volume of traffic” on the city’s vaccination site and said in a tweet that the city was trying to fix the problems quickly. The mayor’s office did not immediately respond to a request for comment.

The city’s health department apologized for the problems and said the “technical review failure” on Thursday had been addressed. However, the problems persisted on Friday when the city released another 4,350 vaccine appointments.

As of Friday, nearly 11 percent of D.C. residents had received one dose of a vaccine, and nearly 5 percent had received two doses, according to a New York Times database.

President Jair Bolsonaro of Brazil at his official office at the Planalto Palace in Brasilia on Wednesday. Credit…Ueslei Marcelino/Reuters

RIO DE JANEIRO — The daily death toll of Covid-19 in Brazil hit a record high of 1,582 on Thursday, according to a news consortium’s survey of local health departments. The painful milestone came as President Jair Bolsonaro railed against face masks, despite compelling scientific evidence that they are effective at preventing infections.

A rise in coronavirus infections in several states in Brazil, which officials say is being driven by more contagious variants, has overwhelmed hospitals across the country.

While epidemiologists and health officials warn of a worsening crisis in the weeks ahead, Mr. Bolsonaro took aim at masks during his weekly address on Facebook Thursday. Citing an unspecified German study, the president said masks were bad for children and that wearing them could lead to headaches, difficulty concentrating and a “decreased perception of happiness.”

Mr. Bolsonaro has been criticized at home and abroad for his cavalier response to the coronavirus pandemic. He has questioned the use of quarantine measures, social distancing and has sowed doubts about vaccines, saying he does not intend to get a shot.

While new cases and deaths are dropping in a number of other countries that were hard hit by the pandemic, including the United States, Brazil is in the grip of a second wave that began in November and shows no sign of easing.

The country began vaccinating medical professionals and older people last month, but the campaign is off to a slow start because the government has struggled to procure enough doses to quickly inoculate its 212 million citizens.

This week, Brazil’s Covid death toll surpassed 250,000, which is second only to the U.S. count of more than 500,000 deaths. The Brazilian health minister, Eduardo Pazuello, said on Thursday that the country had entered a “new stage of the pandemic” as a result of variants that he said are three times more contagious than earlier strains of the virus. “That is the reality we’re living today in Brazil,” he said.

A doctor administering the Pfizer-BioNTech vaccine in Salisbury, England, last month.Credit…Neil Hall/EPA, via Shutterstock

For people who have had Covid-19, a single dose of the Pfizer vaccine is enough to provide robust protection from the coronavirus, according to two new studies from Britain that were published late Thursday in The Lancet, a prominent medical journal.

The studies, among the first fully vetted papers to weigh in on how to vaccinate people who have had Covid-19, added strong evidence to the case for inoculating people who already have antibodies against the virus — but only with one dose of the Pfizer vaccine.

One of the studies, led by researchers at University College London and Public Health England, described the benefits of that strategy.

“This could potentially accelerate vaccine rollout,” they said. And that in turn could forestall dangerous new mutations: “Wider coverage without compromising vaccine-induced immunity could help reduce variant emergence,” the paper said.

In recent weeks, several studies on the topic were posted online that were not yet published in scientific journals, showing that one dose of a coronavirus vaccine amplified people’s antibodies from an earlier infection.

People’s immune responses to being infected are highly variable: Most people make considerable and long-lasting antibodies, while others who had milder infections produce relatively few, making it difficult to know how protected they are from the virus.

Vaccines act as a sort of booster for those people’s immune responses, inducing enough antibodies to offer protection. But a single dose, rather than the full two-dose protocol, is enough for those who have been infected, a number of studies have suggested.

Some researchers in the United States are trying to persuade the Centers for Disease Control and Prevention to recommend giving only one dose to people who have recovered from Covid-19. The studies from Britain seem likely to put pressure on health officials there to consider the same approach.

More than 28 million people in the United States and four million people in Britain, along with many others whose illnesses were probably never diagnosed, have been infected so far.

One of the new studies — led by Charlotte Manisty, a professor at University College London, and Ashley D. Otter, a research scientist at Public Health England — tracked 51 health workers in London who have submitted to routine tests for antibodies and infection since March. That gave researchers an unusually detailed picture of any pre-existing protection from the virus.

Roughly half of the health workers had experienced a mild or asymptomatic infection. And a single dose of the Pfizer vaccine increased their antibody levels more than 140-fold from their peak levels before being inoculated, the study said. That appeared to give them better protection against the coronavirus than two doses of the vaccine did in people who had never been infected, the researchers wrote.

The study raised the idea of giving people blood tests in the weeks before they became eligible for a Pfizer vaccine to determine whether they already had antibodies. People’s immune responses to an infection are highly variable, making it difficult to predict without a blood test who can be fully protected with a single dose.

As a further benefit of the single-dose strategy, the researchers wrote that it would spare people who have already been infected from the unpleasant side effects that sometimes follow a booster shot in that group.

The second study, led by scientists at Imperial College London, measured the immune responses of 72 health workers who were vaccinated in late December. A third showed signs of having previously been infected.

For those people, one dose of the Pfizer vaccine stimulated “very strong” antibody responses, the study said, as well as “very strong T-cell responses,” referring to another arm of the immune system.

It is not clear how long the post-vaccine immune response will last in people who have previously been infected compared with those who have not.

Mark Machin, the chief executive of the Canada Pension Plan Investment Board, speaks at the Milken Institute Global Conference in Beverly Hills, Calif., in April 2019.Credit…Lucy Nicholson/Reuters

The head of Canada’s largest pension fund stepped down on Thursday evening after news broke that he had flown to the United Arab Emirates to receive a coronavirus vaccine, despite federal rules banning inessential travel and a long line of older and immunocompromised citizens across the country waiting for their shots.

The Canada Pension Plan Investment Board announced in a news release on Friday that it had accepted the resignation of its chief executive, Mark Machin, who had “decided to travel personally to the United Arab Emirates where he arranged to be vaccinated against Covid-19.” The board added: “We take that responsibility of leadership very seriously.”

At about $375 billion, the fund is Canada’s largest, with more than 20 million contributors and beneficiaries.

Mr. Machin, who last year earned about $4.2 million at the helm of the crown corporation, is the latest public figure in the country to be publicly sanctioned for traveling abroad for personal reasons, while much of the country is hunkered down during the pandemic’s second wave.

His trip was perceived as not just selfish, but as queue-jumping by many Canadians, who have grown increasingly impatient with the sluggish rollout of vaccinations across the country. Less than 4 percent of the country’s 38 million people have received a dose — far fewer than most Western nations.

The Canada Pension Plan Investment Board is an independent corporation, but the country’s finance minister appoints its directors. Through her spokeswoman, the deputy prime minister and finance minister, Chrystia Freeland, called Mr. Machin’s decision “very troubling” and said Canadians expect the organization to “be held to a higher standard.”

Mr. Machin’s trip was first reported by The Wall Street Journal on Thursday night. Soon after, he sent an internal memo to staff stating the trip was supposed to be “very private” and that he was disappointed it has become the focus of “expected criticism,” The Globe and Mail reported.

People walking in Charleston, S.C., at the end of January. A stubbornly high number of coronavirus cases farther away from the coast has kept the state’s case count relatively high in the last week.Credit…Cameron Pollack for The New York Times

Even as the overall number of coronavirus cases in South Carolina declines, the situation away from the state’s coastline has remained stubbornly dangerous, with some counties in the central and western parts of the state reporting some of the most dire case counts relative to their populations in the Southeast.

Those regions have kept the state’s case count from declining further, and over the last week, South Carolina has reported more cases per capita than any other state, as of Thursday.

The cases are staying high in a mix of small and large counties, including the metropolitan areas of Columbia, the state’s capital and second-largest city, and Spartanburg. Those two metro areas have reported more cases per capita over the last two weeks than all but three other metro areas in the United States, according to a New York Times database. And they are doing so even as cases in Charleston, the state’s largest city, have consistently fallen.

Gov. Henry McMaster cited the overall decline in U.S. cases on Friday in deciding to roll back several public health measures beginning next week. Starting Monday, there will no longer be an 11 p.m. curfew for alcohol sales at restaurants, and large gatherings can resume, though he encouraged people to voluntarily follow the guidelines that had been in place.

“With the spread of the virus consistently decreasing across the country and more of the most vulnerable South Carolinians being vaccinated every day, I believe these targeted and limited safety measures are no longer necessary,” Mr. McMaster said in a statement. “The virus is still among us and we all must continue to make responsible decisions to take care of ourselves and our loved ones, but those decisions are for South Carolinians to make.”

The move from Mr. McMaster came on the same day that Dr. Rochelle Walensky, the director of the Centers for Disease Control and Prevention, warned that the recent decline in cases may be stalling and said governors should keep public health measures in place. “Now is not the time to relax restrictions,” she said.

Brian Symmes, a spokesman for Mr. McMaster, said the governor “appreciates perspectives that differ from his own” but “respectfully disagrees” with Dr. Walensky’s assessment.

One day earlier, on Thursday, South Carolina’s top epidemiologist, Dr. Linda Bell, said in an interview with a local television station that while it was understandable that residents would be optimistic as vaccines rolled out, it was important for them to not forget that the situation was still severe in much of the state.

“We cannot say yet that we have passed the worst part of the pandemic,” Dr. Bell said on WIS-TV.

“I don’t want people to be too encouraged to the point that they stop doing the preventive measures, looking at the current decline in cases,” she added, “because we have declined to a level that has taken us to the height of cases that we were seeing after the Fourth of July, and I want to remind people that we were actually very alarmed.”

Mitch Smith contributed reporting.

Members of the Kansas State University marching band maintained social distance as they played before a college football game in October 2020.Credit…Charlie Riedel/Associated Press

Colleges and universities across the country are pledging to reopen more fully in the fall, with some administrators worried that students won’t return to campus if normality, or some semblance of it, isn’t restored by September.

Schools from large state institutions to small private ones have announced they are laying plans to bring students back to dormitories, deploy professors to teach most (if not all) classes in person and restart extracurricular activities, in stark contrast to the past academic year of largely virtual courses and limited social contact. The announcements of these changes coincide with the sending of acceptance letters to the class of 2025.

Some schools have taken a financial hit because of deferred admissions or lost room-and-board fees.

Bradley University, in Peoria, Ill., which has 5,600 undergraduate and graduate students, said earlier this month that it would return to “traditional residential education” in the fall, with in-person classes and activities on campus.

Kansas State University announced on Wednesday that it too is planning a “more normal” fall semester, with largely in-person classes, events and activities. Ohio State announced on Thursday that it plans to offer “robust” in-person activities and classes, allowing students to live in residence halls and fans to attend football games.

Katherine Fleming, New York University’s provost, told colleagues in an email on Tuesday of plans to have “all faculty teaching their classes in-person, in the classroom, in the fall 2021.” She conceded, however, that this would depend in part on whether enough professors were vaccinated by then.

Indeed, most school officials said that whether they can deliver on these promises hinges on factors like how much the virus can be suppressed, the availability of the vaccine — which is still in scarce supply, even for those who are eligible — and guidance from government authorities.

Despite their hopefulness about the fall, schools have struggled with keeping the virus in check. Positivity rates rose among college students, as among the general population, over the holidays, when people traveled. Administrators have put out many stern warnings that small parties and gatherings have been a source of infection. Many have noted, however, that the classroom itself has not proven to be a vector of infection, as long as students and teachers follow safety guidelines like wearing masks and social distancing.

More than 120,000 coronavirus cases have been linked to American colleges and universities since Jan. 1, and more than 530,000 cases have been reported since the beginning of the pandemic, according to a New York Times survey. The Times has identified more than 100 deaths, but the vast majority involved employees, not students.

Video

transcript

Back

transcript

Biden Tours Texas Emergency Aid Centers After Winter Storms

President Biden spent the day in Houston touring a local food bank and other areas hit by recent snowstorms. Storm damage is expected to total $20 billion, according to the Insurance Council of Texas.

Mr. President, welcome. This is our emergency operations center, Harris County Emergency Operations Center. For me and these folks you see here, this has been our home away from home. Over fire, flood, Covid and now this winter weather event. These folks are the tip of the sphere. Thank you for What you are doing. All I did is I got a call and before you asked the question I just said yes. He did. He said yes before I even asked the question. Absolutely. It’s incredible. It’s an incredible place. They’re doing — and they have so many talented people here, not just volunteers, really talented people.

Video player loadingPresident Biden spent the day in Houston touring a local food bank and other areas hit by recent snowstorms. Storm damage is expected to total $20 billion, according to the Insurance Council of Texas.CreditCredit…Doug Mills/The New York Times

At an emergency response center in Houston, President Biden praised officials who’d slept in stairwells as they worked around the clock to answer the call of terrified residents who had no power or drinkable water when devastating snowstorms hit. At a food bank, Mr. Biden hugged a little girl who was volunteering. He then turned to a woman to discuss the death of his eldest son, plugging into the pain of people around him by accessing his own.

“Incredible,” Mr. Biden said as he surveyed what was happening around him. “It’s absolutely amazing, and we could do so much more.”

Infrastructure and coronavirus relief may be on the official agenda in Washington, but the overwhelming nature of grief was the unofficial theme of the week.

On Monday, Mr. Biden presided over a solemn observance of a grim pandemic milestone: more than 500,000 Americans dead. “While we have been fighting this pandemic for so long, we have to resist becoming numb to the sorrow,” he said during a speech at that White House that evening.

And when he traveled to Houston with Jill Biden, the first lady, the president for the first time used his new platform to show support for a community ravaged by twin crises of devastating snowstorms and the pandemic.

“You’re saving people’s lives,” Mr. Biden told a group of officials at an emergency operations center. “As my mother would say, you’re doing God’s work.”

Across Texas, the damage from the storms is extensive and the recovery is expected to be slow. The damage is expected to cost upward of $20 billion, according to the Insurance Council of Texas. Coronavirus vaccinations had all but stalled because of the storm, but are beginning to rebound — Mr. Biden was expected to visit a mass-vaccination site at a nearby stadium later Friday.

As soon as Mr. Biden hit the ground, the tone of his visit was different from what victims of natural disasters encountered when his predecessor, Donald J. Trump, would visit. Mr. Trump more than once threatened to withhold disaster funding if he had toxic political relationships with officials in those places.

Mr. Biden, who has been pushing a $1.9 trillion coronavirus relief package, was joined by Republicans who praised him for approving a major disaster declaration for Texas, ensuring the flow of federal resources to some 126 counties across the state that were hit by the storms — about half the number requested by Gov. Greg Abbott, who joined Mr. Biden on the trip.

“The governor and Senator Cruz and I asked for a declaration from the federal government which provides access to public and private assistance through FEMA,” said Senator John Cornyn, Republican of Texas and another participant on the trip, referring to the state’s junior senator, Ted Cruz. “That’s going to be important for our recovery.”

Mr. Cruz did not participate. He was in Florida, speaking at the Conservative Political Action Conference.

In Harris County, where Houston is, about 50 percent of 4.9 million residents lost power as the storms hit. Nearly two weeks later, about 10,000 residents are still boiling their water, according to county officials. More than 50,000 across the state still do not have access to safe water, according to officials with the Federal Emergency Management Agency.

During the visit to the food bank, Dr. Biden slipped cans of peaches into packages of food for students who rely on free school meals. Mr. Biden talked to children and told them about his own family.

It was a marked difference from Mr. Trump, who was criticized in 2018 for visiting a disaster relief center in Puerto Rico, only to throw paper towels at people who’d survived a Category 5 hurricane. “I was having fun,” Mr. Trump said afterward. “They were having fun.”

Categories
Politics

Biden Revokes Trump’s Pause on Inexperienced Playing cards

WASHINGTON – President Biden reopened the country to people looking for green cards on Wednesday, ending a ban on legal immigration imposed by President Donald J. Trump last spring. He cited the need to protect American jobs during the pandemic.

In a proclamation, Mr. Biden said the ban “did not advance the interests of the United States” and challenged Mr. Trump’s claims that the way to protect the American economy during the health crisis is to protect the country from the rest of the United States seal off the world.

“On the contrary,” Biden said of his predecessor’s immigration ban, “it harms the United States by preventing certain family members of US citizens and legal permanent residents from joining their families here.” It also harms industries in the US that employ talent from around the world. “

The president’s action was the latest example of his efforts to roll back Mr Trump’s attack on the nation’s immigration system. Since taking office, Mr Biden has issued several implementing regulations and directives aimed at lifting the restrictions on immigrants introduced over the past four years.

In April, as the coronavirus crisis deepened, Mr. Trump ordered a “break” from issuing green cards, one of the key ways foreigners can get permission to live and work in the US.

At the time, Mr Trump described his action as a way to protect Americans, millions of whom lost their jobs when the coronavirus threat brought the economy to a standstill.

“By cutting off immigration, we will help put unemployed Americans first in America’s reopening. So important, “said Trump. “It would be wrong and unjust if the Americans laid off by the virus were replaced by new migrant workers from abroad. We have to take care of the American worker first. “

Updated

Apr. 24, 2021, 8:33 p.m. ET

Mr. Trump’s critics accused him of using the pandemic as an excuse to push his agenda of severely restricting immigration. And many scholars found that studies repeatedly cast doubt on the idea that immigration is a direct threat to American jobs, as many immigrants take jobs that Americans don’t want.

Mr. Biden repeated that feeling. In his proclamation, he wrote that he “stated that” the unrestricted entry into the United States “of people seeking green cards” is not detrimental to the interests of the United States. “

Foreign nationals trying to move to the US can attempt to become “legal permanent residents” – also known as green cards – which will allow them to live in the country and eventually apply for citizenship.

Mr Trump’s proclamation did not prevent American citizens from bringing their spouses or children to the United States. But it has excluded other foreigners, including relatives of green card holders and those seeking green cards based on a job offer.

An analysis by the then Institute for Migration Policy estimated that the policy could affect up to 660,000 people.

Mr Biden has vowed to bring United States immigration policies back to what they were before Mr Trump became president. He has increased the number of refugees who can be relocated to the country and he has taken steps to process applications from asylum seekers waiting in poor camps on the Mexican border.

However, Mr Biden has also proposed a wider revision of the country’s immigration laws to fulfill an election promise he made to send laws to Congress on the first day of his presidency.

In his legislation, the president would offer most of the 11 million undocumented immigrants living in the United States an eight-year path to citizenship. The legislation was proposed in the House and Senate by Mr Biden’s Democratic allies, but it is unclear whether it can deserve enough Republican support to pass the Senate.