President Joe Biden has earmarked $400 million in discretionary funding to counter potential threats from China, and $1.7 billion to help Ukraine win the war against Russia in his Fiscal Year 2024 Budget.
In addition, the Budget includes a new, multifaceted interagency mandatory proposal to outcompete China. This includes $2 billion to support high-quality, strategic "hard" infrastructure projects globally; $2 billion to strengthen Indo-Pacific economies and support U.S. partners in pushing back against predatory efforts; $2 billion for a new revolving Fund at DFC to boost equity investments; and $7.1 billion over 20 years to support the renewal of the Compacts of Free Association (COFA).
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Political News
April 17, 2026 15:29 ET The ongoing conflict in the Middle East continues to raise concerns for policymakers who worry about the impact of the supply shock and high energy prices on the real economy. Producer price data and various survey results on the housing market were the main news from the U.S. this week. In Europe, industrial production data for the euro area gained attention. GDP figures out of China and the policy move by the Singapore central bank were in focus in Asia.