In a bid to jump start the economy, US to skirt around environmental norms

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US President Donald Trump is all set to initiate the process to repair the US economy which is still reeling under the effects of the lockdown imposed due to COVID-19. As per the documents accessed by Associated Press, environmental clearances may be scaled back for certain infrastructural projects and certain other industries.

This Executive Order will be signed by the President under the special powers conferred under the COVID-19 law.

The order is expected to direct federal agencies to work around stringent environmental laws such as the National Environmental Policy Act and the Endangered Species Act.

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However, experts have pointed out that the real issue is finding the capital for these projects and not environmental clearances per se.

Trump also issued a memorandum to protect American investors from the various illegalities committed by the Chinese companies.

He said that the Chinese economy has benefitted to a great extent by listing in the various US Stock Exchanges.

He said: “China’s actions to thwart our transparency laws raise significant risks for investors. The time has come to take firm action in an orderly fashion to put an end to the practice that has tacitly permitted companies with significant Chinese operations to flout protections that the US laws afford to American investors.”

It was only last week that the Chinese government decided to prevent the auditors from sharing audit information with any entity without government permission.

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