U.S. CONSUMER BORROWING UP STRONG $16.6 BILLION IN JULY

Americans increased their borrowing in July at nearly double the pace of the previous month, evidence that confident consumers are willing to take on more debt to support their spending.

The Federal Reserve reported Monday that consumer debt rose by a seasonally adjusted $16.6 billion in July, up sharply from a gain of $8.5 billion in June.

The category that includes credit cards rose by $1.3 billion after shrinking by $1.2 billion in June. The category that covers auto and student loans surged by $15.4 billion after an increase of $9.6 billion in June. It was the largest gain since an increase of $17.9 billion last November.

ChinA promises retAliAtion if U.S. imposes more tAriffs.

BEIJING» China on Monday promised retaliation if President Donald Trump escalates their tariff battle, raising the risk Beijing might target operations of American companies as it runs out of imports for penalties.

The threat came after Trump said Friday he was considering extending penalties to an additional $267 billion of Chinese products in their battle over Beijing’s technology policy. That would be on top of $50 billion of goods already hit by 25 percent duties and another $200 billion on which Washington is poised to raise tariffs.

“If the United States insists on imposing another round of tariffs on Chinese products, China will definitely take countermeasures to safeguard its legitimate rights and interests,” foreign ministry spokesman Geng Shuang said.

Despite Trump tweet, Ford sAys it won’t mAke hAtChBACk in U.S.

W ASH-

INGTON» Ford won’t be moving production of a hatchback wagon to the United States from China — despite Trump’s claim Sunday that his taxes on Chinese imports mean the Focus Active can be built in America.

Citing Trump’s new tariffs, Ford on Aug. 31 said it was dropping plans to ship the Focus Active from China to America.

Trump took to Twitter Sunday to declare victory and write: “This is just the beginning. This car can now be BUILT IN THE U.S.A. and Ford will pay no tariffs!”

Yellen touts CArBon tAx As “textBook solution” to ClimAte ChAnge.

Former Federal Reserve Chair Janet Yellen says a tax on carbon dioxide emissions would do more to combat climate change than a slew of federal environmental regulations being undone by the Trump administration.

“From the standpoint of an economist, the most efficient way to tackle climate change is to tax emissions — to create a disincentive to emit carbon dioxide,” Yellen said in an interview. “It’s the right solution to a problem, and it’s collected in a way that is practical and feasible.”

ProposAl seeks to Boost gAs well density in New MexiCo BAsin.

» A

. Houstonbased oil and gas company wants New Mexico regulators to double the density of wells allowed in two counties, saying it will result in the capture of more natural gas.

The request involving San Juan and Rio Arriba counties comes as an oil and gas boom has helped to refuel state coffers and power a recordbreaking lease sale in the Permian Basin in the southeastern part of the state that promises nearly a halfbillion dollars more in revenues for New Mexico.

But environmentalists and landowners are concerned about increasing well densities in the northwest as developers look to tap more reserves in the San Juan Basin.