The US-based manufacturing and technology conglomerate has also agreed to provide its artificial intelligence technologies in the steel industry, including big data analysis and robot self-learning, to build an advanced connected factory.
The US was one of the earliest countries to establish the deposit insurance system in the 1930s.
The United States' perceived sloppy response to the worldwide coronavirus pandemic, its scapegoating moves and shirking of international duties have drawn criticism from officials, academics and media around the world.
The United States is presently the country with the most number of records being broken every year, followed by the UK, Canada and Germany.
The US Coast Guard has evacuated some people from devastated areas by helicopter. The United Nations, the British Royal Navy, American Airlines and Royal Caribbean and other organizations have mobilized to send in food, water, generators, roof tarps, diapers, flashlights and other supplies.
The United Nations in China hosted a commemorative event on Tuesday to mark the International Day for South-South Cooperation. [Photo by Zhang Yunbi / China Daily]
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The US steel industry employed about 147,000 people in 2015, according to the Commerce Department's Bureau of Economic analysis. Manufacturers that need steel employ about 6.5 million people each year and the construction industry 6.3 million.
The US Department of Commerce did not reply to a request for comment on whether the incident might be related to its move on May 16 to add Huawei to the so-called "Entity List," preventing it buying certain items from US companies without US government approval.
The US Immigration and Customs Enforcement (ICE) announced on Monday that international students may have to leave the United States if their universities switch to online-only courses for the fall 2020 semester, warning that otherwise they will risk violating their visa status. The new rule immediately caused anxiety among tens of thousands of foreign students.
The US Federal Reserve has raised interest rates, arousing risks of capital outflows from emerging economies such as China. Since the beginning of the year, the world's second-largest economy has been deleveraging its economy, which has put the financial sector under stricter supervision to ensure financial safety.