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After six months under Trump, California and L.A. are battlegrounds. Who benefits?

After six months under Trump, California and L.A. are battlegrounds. Who benefits?

Six months into President Trump's second term, his predilection for picking on California has never been on fuller display, turning the state broadly and Los Angeles specifically into key battlegrounds for his right-wing agenda.
There are chaotic immigration raids occurring across the state and military troops on L.A. streets. The administration has sued the state or city over sanctuary policies, transgender athletes and the price of eggs. The state has sued the administration more than 30 times, including over funding cuts, voting restrictions and the undoing of birthright citizenship.
Federal officials are investigating L.A. County's gun permitting policies, and have sought to overturn a host of education, health and environmental regulations. They have talked not only of enforcing federal laws for the benefit of California residents, but of showing up in full force — soldiers and all — to wrench control from the state's elected leaders.
'We are not going away,' Homeland Security Secretary Kristi Noem said at a news conference in Los Angeles last month. 'We are staying here to liberate this city from the socialists and the burdensome leadership that this governor and that this mayor have placed on this country, and what they have tried to insert into this city.'
The antagonism toward California is not entirely surprising, having been a feature of Trump's first term and his recent presidential campaign. And yet, the breadth and pace of the administration's attacks, aided by a Republican-controlled Congress and a U.S. Supreme Court convinced of executive power, have stunned many — pleasing some and infuriating others.
'Trump's been able to go much further, much faster than anyone would have calculated, with the assistance of the Supreme Court,' said Bob Shrum, director of the USC Dornsife Center for the Political Future.
'In a second Trump term, he's clearly either feeling or acting more emboldened and testing the limits of his power, and Republicans in Congress certainly aren't doing anything to try to rein that in,' said California Sen. Alex Padilla, who was forced to the ground and handcuffed by federal agents after confronting Noem at her news conference. 'It's enraging. It's offensive.'
'What is clear after six months is we now have some measure of checks and balances in California, a counterweight to one-party supermajority control at the state level,' said Rep. Kevin Kiley (R-Rocklin). 'From securing the border to reversing the ban on gas cars to protecting girls' sports, balance and common sense are returning to our state.'
Rob Stutzman, a longtime GOP strategist in California who is no fan of Trump, said the president's motivations for targeting California are obvious, as it 'is the contrast that he basically has built MAGA on.'
Visuals of Immigration and Customs Enforcement agents rounding up immigrants in liberal California are red meat to the MAGA base, Stutzman said. 'What they've been able to do in California is basically create the live TV show that they want.'
But Trump is hardly the only politician who benefits from his administration being on a war footing with the nation's most populous blue state, Stutzman said. There is a 'symbiotic relationship that Democrats in California have with Trump,' he said, and leaders such as Gov. Gavin Newsom and Los Angeles Mayor Karen Bass also benefit politically when they're seen as standing up to the president.
'If not for Trump's assault on California, was Gavin Newsom in South Carolina?' Stutzman asked, of what many viewed as an early presidential campaign stop earlier this month. 'Would Karen Bass otherwise have been given a lifeline after her disastrous performance with the fires?'
Bass, in a statement to The Times, defended her record, saying both homelessness and homicides are down and fire recovery is moving quickly. She said the Trump administration was helpful with early fire response, but 'now they've assaulted our city' with immigration raids — which is why L.A. has joined in litigation to stop them, as her 'number one job is to protect Angelenos.'
Bob Salladay, a senior advisor to Newsom, dismissed the idea that battling Trump is in any way good for California or welcomed by its leaders. 'That's not why we're fighting him,' he said. 'We're fighting him because what he's doing is immoral and illegal.'
Salladay agreed, however, that the last six months have produced a stunning showdown over American values that few predicted — even with the conservative Project 2025 playbook laying out much of it in advance.
'We knew it would be bad. We didn't know it would be this bad,' Salladay said. 'We didn't know it would be the president of the United States sending U.S. troops into an American city and taking away resources from the National Guard for public theater.'
When protests over early immigration raids erupted in scattered pockets of L.A. and downtown, Trump dramatized them as a grave threat to citywide safety, in part to justify bringing in the military. Local officials say masked and militarized agents swarming Latino and other immigrant neighborhoods and racially profiling targets for detention have undermined safety far more than the protests ever did.
Trump has since pulled back about half the troops, but thousands remain. A federal judge recently ordered federal agents to stop using racial profiling to carry out indiscriminate arrests, but raids continue.
The Trump administration, meanwhile, is demanding California counties provide lists of noncitizens in their jails.
Beyond L.A., officials and industry leaders say immigration raids have badly spooked workers in farming, construction, street vending and other service sectors, with some leaving the job for fear of being detained. Meanwhile, Trump's tariff war with trading partners has made it more difficult for some farmers to purchase equipment and chemical supplies.
The Justice Department is suing the state for allowing transgender girls to compete in girls' sports, alleging such policies violate federal civil rights law. It is suing the state over an animal welfare law protecting hens from being kept in small cages, blaming the policy for driving up the cost of eggs in violation of federal farming regulations. It is investigating L.A. County's gun permitting process, suggesting excessive fees and wait times are violating people's gun rights.
Trump signed legislation to undo California's aggressive limits on auto emissions and a landmark rule that would ban new gas-only car sales in the state by 2035. His administration just rescinded billions of dollars for a long-planned high-speed rail line between Los Angeles and San Francisco, calling it a 'boondoggle.'
The legal antagonism has cut in the opposite direction, as well, with California Atty. Gen. Rob Bonta's office having sued the Trump administration more than 30 times in the last six months over a range of issues.
Bonta has sued over billions of dollars in cuts to education funding and billions of dollars in cuts to medical research and development. He has sued over Trump executive orders declaring that California must radically restrict voting access, over Trump's unilateral tariff scheme and over clawbacks of funding and approvals for wind energy and electric vehicle charging stations.
Bonta called the Trump administration's targeting of the state 'a lot of show' — and 'disrespectful, inappropriate and unlawful.' He noted a lot of wins in court for the state, but also acknowledged the administration has scored victories, too, particularly at the Supreme Court, which has temporarily cleared the way for mass layoffs of federal employees, the dismantling of the Department of Education and the undoing of birthright citizenship.
But those rulings are 'just procedural' for now as litigation continues, Bonta stressed, and the fight continues.
'We are absolutely unapologetic, resolute, committed to meeting the Trump administration in court and beating them back each time they violate the law,' Bonta said.
After six months of entrenched political infighting between the U.S. and its largest state, who benefits?
Trump, officials in his administration and some state Republicans are adamant that it is good, hardworking, law-abiding people of California, who they allege have long suffered under liberal state policies that reward criminals and unauthorized immigrants.
'What would Los Angeles look like without illegal aliens?' Stephen Miller, one of Trump's top policy advisors, recently asked on Fox News — before suggesting, without proof, that it would have better healthcare and schooling for U.S. children and 'no drug deaths' on the streets.
Abigail Jackson, a White House spokesperson, said in a statement to The Times that 'Gavin Newscum' — Trump's favorite insult — is 'destroying' the state, and that Trump 'has had to step in and save Californians from Gavin's incompetence.'
'First, when Newscum was chronically unprepared to address the January wildfires, and more recently when he refused to stop violent, left-wing rioters from attacking federal law enforcement,' Jackson said. 'This doesn't even account for Newscum's radical, left-wing policies, which the Administration is working to protect Californians — and all Americans — from, like letting men destroy women's sports, or turning a blind eye to child labor exploitation.'
Trump, she said, 'will continue to stand up for Californians like a real leader, while Newsom sips wine in Napa.'
Some Republicans in the state strongly agree, including Riverside County Sheriff Chad Bianco, who is running for governor. With Trump in office, Bianco said, 'there's finally someone working and looking out for Californians' best interests.'
He said Trump called in troops only because of the 'embarrassing' failure of L.A. officials to maintain order. He said the only reason ICE is going after unauthorized immigrants in the streets — with some bystanders admittedly caught in the fray — is that California sanctuary laws prevent agents from just picking them up in jails.
'This is an absolute failure of a Democrat-led agenda and Democrat policy that is forcing the federal government to go into our neighborhoods looking for these criminals,' Bianco said. 'Californians are being punished for it because of failed California leadership, not because of the federal government.'
Newsom, Bass and other liberal officials, of course, have framed Trump's actions in the state in very different terms.
In a recent filing in the federal case challenging the constitutionality of ICE's immigration tactics in L.A., California and 17 other liberal-led states argued those tactics had left citizens and noncitizens afraid to go outside, turned 'once bustling neighborhoods into ghost towns' and devastated local businesses.
State and local officials have said they are fighting the administration so aggressively because Trump's policies threaten billions in federal funding for the state in education, healthcare, transportation and other sectors.
California Sen. Adam Schiff, a staunch adversary of Trump, said he has had particularly troubling conversations with farmers up and down the state, who are feeling the pain from Trump's immigration polices and tariffs acutely.
'Their workers are increasingly not showing up. Their raw materials are increasingly more expensive because of the tariffs. Their markets are shrinking because of the recoil by other countries from this kind of indiscriminate turf war,' Schiff said. 'Farmers are really in the epicenter of this.'
So, too, Schiff said, are the millions of Californians who could be affected by the administration's decision to cut environmental funding and curtail disaster preparation and relief in the state, including by hampering water management and flood mitigation work and 'slow-walking' wildfire relief in L.A.
'Donald Trump is the first U.S. president who doesn't believe that it's his job to represent the whole country — only the states that voted for him,' Schiff said. 'The president seems to have a particular, personal vendetta against California, which is obviously [a] deep disservice to the millions of residents in our state, no matter whom they voted for.'
During her Los Angeles news conference, Noem said that federal officials in L.A. were 'putting together a model and a blueprint' that could be replicated elsewhere — an apparent warning against other blue cities and states bucking the administration.
California officials saw it exactly that way. Bass has accused the administration of 'treating Los Angeles as a test case for how far it can go in driving its political agenda forward while pushing the Constitution aside.'
What happens next, several political observers said, depends on whether the antagonism continues to work politically, and whether the administration starts acting on its threats to crack down even more.
When Bass showed up in person to object to heavily armed immigration agents storming through MacArthur Park recently, U.S. Border Patrol Chief Gregory Bovino allegedly told her that she and other L.A. officials and residents 'better get used to' agents being in the city, who 'will go anywhere, anytime we want in Los Angeles.' Homeland Security Assistant Secretary for Public Affairs Tricia McLaughlin, when asked if Bass would be arrested, said they were 'keeping everything on the table.'
Trump has suggested Newsom should be arrested, too, saying, 'I'd do it.' Padilla was taken forcefully to the ground and handcuffed at a Noem press event. Trump has accused Schiff of criminal fraud for claiming primary residency in mortgage paperwork for a home in his district and one near his work in Washington, D.C., which Schiff called a baseless political attack.
Padilla said it's all to be expected from a Republican administration that hates and fears everything that his state stands for, but that Democrats aren't backing down and will continue to 'organize, organize, organize' to defend Californians and win back power in the midterms.
'We're not the fourth largest economy in the world despite our diversity and immigrant population, but because of it,' Padilla said. 'Diversity and migrants doing well and making our country stronger is Donald Trump's worst nightmare — and that has made California his No. 1 target.'
Schiff said the administration's actions in California in the last six months are indeed producing 'the TV show that Trump wanted to show his MAGA base,' but 'it's a TV show that is not going over well with the American people.'
Trump's approval numbers on immigration are down, Schiff said, because Americans don't want to live in a country where landscapers, car wash employees and farmworkers with zero criminal convictions are terrorized by masked agents in the streets and U.S. citizen children are ripped from their parents.
'The more Trump tries to inflict harm and pain on California, and the more he disrupts life in California cities and communities, the more he makes the Republican brand absolutely toxic,' Schiff said, 'and the more harm that he does to Republican elected leaders up and down the state.'
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Stock market today: Dow, S&P 500, Nasdaq futures rise on US-Japan deal hopes, with Tesla and Google on deck
Stock market today: Dow, S&P 500, Nasdaq futures rise on US-Japan deal hopes, with Tesla and Google on deck

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Stock market today: Dow, S&P 500, Nasdaq futures rise on US-Japan deal hopes, with Tesla and Google on deck

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Camera maker GoPro (GPRO) shares rose 43%, per Reuters short interest in the stock recently stood at 7.7%. Investor interest in heavily shorted stocks has grown after Kohl's jumped 38% on Tuesday amid heavy retail buying. Constellation Energy Corporation (CEG) stock rose 4% premarket after PJM Interconnection released results from its 2026-2027 capacity auction. The grid operator set record prices at $329.17 per megawatt-day, raising total capacity costs to $16.1 billion from $14.7 billion last year. Tesla Q2 earnings preview: 3 things to watch Tesla (TSLA) is slated to report second quarter earnings on Wednesday against an uncertain backdrop for its core auto business and robotaxi rollout. Tesla stock pared some of its losses earlier in the year, as tariffs and a volatile relationship between CEO Elon Musk and President Trump weighed on the company. But the stock is still down about 17% year to date. Yahoo Finance's Pras Subramanian previews three key areas to watch when the EV maker reports: Read more here. Meme stocks are on the move again The return of meme stock mania doesn't appear like it will end on Wednesday. Some of the highest-trending ticker pages on Yahoo Finance this morning are meme crowd favorites Kohl's (KSS), Rocket (RKT), and Krispy Kreme (DNUT). As of 6 a.m. ET, Rocket and Krispy Kreme are each up double-digit percentages in premarket. "The phenomenon of meme stocks isn't going away. I feel like the genie's out of the bottle. And it's just become a way for a certain subset of everyday investors to trade, and that's completely fine," Ritholtz Wealth Management strategist Callie Cox said on Yahoo Finance's Opening Bid (watch below). Makes sense! Texas Instruments stock plunges as guidance disappoints Given how hard the stock market has rallied, any company reporting guidance that is perceived as subpar will get punished. A good example of that will play out with Texas Instruments (TXN) in today's session. The stock is getting pounded premarket, down 12% after third quarter guidance on earnings per share that was 14 cents below consensus on the low end. TXN blamed weak demand in the auto market (heard the same in GM's (GM) outlook on Tuesday). Executives at the key chipmaker for producers of cars and factory equipment said they didn't know how much of the second quarter's jump in revenue was down to customers trying to get ahead of tariffs, per Reuters. Whatever the case, TXN's outlook is putting pressure on similar names in the space: Microchip (MCHP), Analog Devices (ADI), NXP Semiconductors (NXPI), and On Semi (ON). Japanese auto stocks surge as US announces lower-than-expected tariffs Shares of Japanese automakers pumped after U.S. President Donald Trump announced a trade deal with Japan, lowering the previously discussed 25% auto tariffs on Japanese vehicles to 15%. 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AT&T subscribers surge, but the stock is sliding premarket AT&T (T) stock fell over 3% in premarket trading despite the telecom provider reporting a huge subscriber beat. Reuters reports: Read more here. AT&T (T) stock fell over 3% in premarket trading despite the telecom provider reporting a huge subscriber beat. Reuters reports: Read more here. How the dropping dollar could scramble Trump's agenda President Trump has said he is "never going to let the dollar slide." But his agenda is making that complicated, Yahoo Finance's Ben Werschkul reports: Read more here. President Trump has said he is "never going to let the dollar slide." But his agenda is making that complicated, Yahoo Finance's Ben Werschkul reports: Read more here. Good morning. Here's what's happening today. Economic data: MBA mortgage applications (July 18); Existing home sales (June) Earnings: Alphabet (GOOGL, GOOG), Tesla (TSLA), Chipotle (CMG), Alaska Airlines (ALK), AT&T (T), Fiserv (FI), Freeport-McMoran (FCX), GE Vernova (GEV), General Dynamics (GD), Hasbro (HAS), IBM (IBM), O'Reilly Automotive (ORLY), QuantumScape (QS) Here are some of the biggest stories you may have missed overnight and early this morning: AT&T stock slides despite subscriber surge; Tesla, Google on deck Trump gets Japan deal, but EU digs in with $100B response How the dollar's drop could scramble Trump's agenda Trump to launch hands-off 'action plan' to win AI race Google earnings on deck: AI results wanted, not just hype The protein boom is only beginning Krispy Kreme, GoPro jump as meme stock rally continues AT&T beats profit estimates as bundled plans boost subscribers Hilton lifts 2025 profit forecast on US demand recovery Economic data: MBA mortgage applications (July 18); Existing home sales (June) Earnings: Alphabet (GOOGL, GOOG), Tesla (TSLA), Chipotle (CMG), Alaska Airlines (ALK), AT&T (T), Fiserv (FI), Freeport-McMoran (FCX), GE Vernova (GEV), General Dynamics (GD), Hasbro (HAS), IBM (IBM), O'Reilly Automotive (ORLY), QuantumScape (QS) Here are some of the biggest stories you may have missed overnight and early this morning: AT&T stock slides despite subscriber surge; Tesla, Google on deck Trump gets Japan deal, but EU digs in with $100B response How the dollar's drop could scramble Trump's agenda Trump to launch hands-off 'action plan' to win AI race Google earnings on deck: AI results wanted, not just hype The protein boom is only beginning Krispy Kreme, GoPro jump as meme stock rally continues AT&T beats profit estimates as bundled plans boost subscribers Hilton lifts 2025 profit forecast on US demand recovery The protein boom is only beginning Yahoo Finance's Hamza Shaban reports in today's Morning Brief: Read more here. Yahoo Finance's Hamza Shaban reports in today's Morning Brief: Read more here. Enphase stock slides on warning of hit from Trump policies Shares in Enphase Energy (ENPH) fell after its third quarter revenue forecast fell short, as the US solar company pointed to headwinds from President Trump's policies. The solar equipment maker said Trump's import tariffs had hit its gross margin, after the US in April finalized steep duties on solar cells from Southeast Asia. At the same time, Enphase faces the fallout from Trump's cuts to tax incentives in the renewable energy sector. It said it expects the US residential solar market to shrink 20% next year as tax credits for homeowners end under Trump's sweeping budget legislation. Bloomberg reports: Read more here. Shares in Enphase Energy (ENPH) fell after its third quarter revenue forecast fell short, as the US solar company pointed to headwinds from President Trump's policies. The solar equipment maker said Trump's import tariffs had hit its gross margin, after the US in April finalized steep duties on solar cells from Southeast Asia. At the same time, Enphase faces the fallout from Trump's cuts to tax incentives in the renewable energy sector. It said it expects the US residential solar market to shrink 20% next year as tax credits for homeowners end under Trump's sweeping budget legislation. Bloomberg reports: Read more here. Trending tickers: Krispy Kreme, GoPro and Constellation Energy Corporation Here are some top stocks trending on Yahoo Finance in premarket trading: Krispy Kreme (DNUT)`stock rose 22% before the bell boosted by their names trending on social media a day after retail traders snapped up Kohl's (KSS) shares. Camera maker GoPro (GPRO) shares rose 43%, per Reuters short interest in the stock recently stood at 7.7%. Investor interest in heavily shorted stocks has grown after Kohl's jumped 38% on Tuesday amid heavy retail buying. Constellation Energy Corporation (CEG) stock rose 4% premarket after PJM Interconnection released results from its 2026-2027 capacity auction. The grid operator set record prices at $329.17 per megawatt-day, raising total capacity costs to $16.1 billion from $14.7 billion last year. Here are some top stocks trending on Yahoo Finance in premarket trading: Krispy Kreme (DNUT)`stock rose 22% before the bell boosted by their names trending on social media a day after retail traders snapped up Kohl's (KSS) shares. Camera maker GoPro (GPRO) shares rose 43%, per Reuters short interest in the stock recently stood at 7.7%. Investor interest in heavily shorted stocks has grown after Kohl's jumped 38% on Tuesday amid heavy retail buying. Constellation Energy Corporation (CEG) stock rose 4% premarket after PJM Interconnection released results from its 2026-2027 capacity auction. The grid operator set record prices at $329.17 per megawatt-day, raising total capacity costs to $16.1 billion from $14.7 billion last year. Tesla Q2 earnings preview: 3 things to watch Tesla (TSLA) is slated to report second quarter earnings on Wednesday against an uncertain backdrop for its core auto business and robotaxi rollout. Tesla stock pared some of its losses earlier in the year, as tariffs and a volatile relationship between CEO Elon Musk and President Trump weighed on the company. But the stock is still down about 17% year to date. Yahoo Finance's Pras Subramanian previews three key areas to watch when the EV maker reports: Read more here. Tesla (TSLA) is slated to report second quarter earnings on Wednesday against an uncertain backdrop for its core auto business and robotaxi rollout. Tesla stock pared some of its losses earlier in the year, as tariffs and a volatile relationship between CEO Elon Musk and President Trump weighed on the company. But the stock is still down about 17% year to date. Yahoo Finance's Pras Subramanian previews three key areas to watch when the EV maker reports: Read more here. Meme stocks are on the move again The return of meme stock mania doesn't appear like it will end on Wednesday. Some of the highest-trending ticker pages on Yahoo Finance this morning are meme crowd favorites Kohl's (KSS), Rocket (RKT), and Krispy Kreme (DNUT). As of 6 a.m. ET, Rocket and Krispy Kreme are each up double-digit percentages in premarket. "The phenomenon of meme stocks isn't going away. I feel like the genie's out of the bottle. And it's just become a way for a certain subset of everyday investors to trade, and that's completely fine," Ritholtz Wealth Management strategist Callie Cox said on Yahoo Finance's Opening Bid (watch below). Makes sense! The return of meme stock mania doesn't appear like it will end on Wednesday. Some of the highest-trending ticker pages on Yahoo Finance this morning are meme crowd favorites Kohl's (KSS), Rocket (RKT), and Krispy Kreme (DNUT). As of 6 a.m. ET, Rocket and Krispy Kreme are each up double-digit percentages in premarket. "The phenomenon of meme stocks isn't going away. I feel like the genie's out of the bottle. And it's just become a way for a certain subset of everyday investors to trade, and that's completely fine," Ritholtz Wealth Management strategist Callie Cox said on Yahoo Finance's Opening Bid (watch below). Makes sense! Texas Instruments stock plunges as guidance disappoints Given how hard the stock market has rallied, any company reporting guidance that is perceived as subpar will get punished. A good example of that will play out with Texas Instruments (TXN) in today's session. The stock is getting pounded premarket, down 12% after third quarter guidance on earnings per share that was 14 cents below consensus on the low end. TXN blamed weak demand in the auto market (heard the same in GM's (GM) outlook on Tuesday). Executives at the key chipmaker for producers of cars and factory equipment said they didn't know how much of the second quarter's jump in revenue was down to customers trying to get ahead of tariffs, per Reuters. Whatever the case, TXN's outlook is putting pressure on similar names in the space: Microchip (MCHP), Analog Devices (ADI), NXP Semiconductors (NXPI), and On Semi (ON). Given how hard the stock market has rallied, any company reporting guidance that is perceived as subpar will get punished. A good example of that will play out with Texas Instruments (TXN) in today's session. The stock is getting pounded premarket, down 12% after third quarter guidance on earnings per share that was 14 cents below consensus on the low end. TXN blamed weak demand in the auto market (heard the same in GM's (GM) outlook on Tuesday). Executives at the key chipmaker for producers of cars and factory equipment said they didn't know how much of the second quarter's jump in revenue was down to customers trying to get ahead of tariffs, per Reuters. Whatever the case, TXN's outlook is putting pressure on similar names in the space: Microchip (MCHP), Analog Devices (ADI), NXP Semiconductors (NXPI), and On Semi (ON). Japanese auto stocks surge as US announces lower-than-expected tariffs Shares of Japanese automakers pumped after U.S. President Donald Trump announced a trade deal with Japan, lowering the previously discussed 25% auto tariffs on Japanese vehicles to 15%. Honda (HMC) surged 9.8%, Toyota (TM) jumped 13.9%, Nissan (7222.T) gained over 5%, and Mazda (7261.T) soared 17.7%. Mitsubishi Motors (7211.T) rose over 12%. According to Japan's NHK, the revised tariff structure includes a 12.5% cut plus a 2.5% 'Most Favored Nation' base rate. The move comes as Japanese auto exports to the US have suffered, plunging 26.7% in June. Trump hailed the deal as the 'largest Deal ever,' claiming Japan would invest $550 billion in the US and allow greater access to its markets, including for American autos, trucks, and agricultural goods. Shares of Japanese automakers pumped after U.S. President Donald Trump announced a trade deal with Japan, lowering the previously discussed 25% auto tariffs on Japanese vehicles to 15%. Honda (HMC) surged 9.8%, Toyota (TM) jumped 13.9%, Nissan (7222.T) gained over 5%, and Mazda (7261.T) soared 17.7%. Mitsubishi Motors (7211.T) rose over 12%. According to Japan's NHK, the revised tariff structure includes a 12.5% cut plus a 2.5% 'Most Favored Nation' base rate. The move comes as Japanese auto exports to the US have suffered, plunging 26.7% in June. Trump hailed the deal as the 'largest Deal ever,' claiming Japan would invest $550 billion in the US and allow greater access to its markets, including for American autos, trucks, and agricultural goods. Trending tickers in after-hours trading Texas Instruments, Inc. (TXN) Texas Instruments, a leading chipmaker with the broadest product list in the field, saw its share value drop over 11.6% in after-hours trading. The stock has seen 46% gains in the year to date following a boom in purchases with each wave of tariff announcements. The rapid cooling-off occurred when the executive team announced they were unaware how much of the increase in revenue had been dependent on consumers attempting to circumvent the hike in prices from Trump's tariffs. Enphase Energy, Inc. (ENPH) Solar equipment provider Enphase Energy saw a drop of over 7.2% in the company's stock value in extended trading. With 5% of the market share in the solar equipment field Enphase acts as an early indicator for the impact that Trump's removal of tax credits will have upon the industry. Enphase are pointing towards a 20% drop in the residential market. Read more here. Analog Devices, Inc. (ADI) Shares in semiconductor maker Analog Devices saw a drop of over 4.1% after-hours, erasing gains from the month so far. The company specializes in chips that convert real world input into electrical signals, processing sound, light, temperature, pressure and motion. Investors have been eyeing ADI's earnings reports, still not due for another month. Texas Instruments, Inc. (TXN) Texas Instruments, a leading chipmaker with the broadest product list in the field, saw its share value drop over 11.6% in after-hours trading. The stock has seen 46% gains in the year to date following a boom in purchases with each wave of tariff announcements. The rapid cooling-off occurred when the executive team announced they were unaware how much of the increase in revenue had been dependent on consumers attempting to circumvent the hike in prices from Trump's tariffs. Enphase Energy, Inc. (ENPH) Solar equipment provider Enphase Energy saw a drop of over 7.2% in the company's stock value in extended trading. With 5% of the market share in the solar equipment field Enphase acts as an early indicator for the impact that Trump's removal of tax credits will have upon the industry. Enphase are pointing towards a 20% drop in the residential market. Read more here. Analog Devices, Inc. (ADI) Shares in semiconductor maker Analog Devices saw a drop of over 4.1% after-hours, erasing gains from the month so far. The company specializes in chips that convert real world input into electrical signals, processing sound, light, temperature, pressure and motion. Investors have been eyeing ADI's earnings reports, still not due for another month.

From tech podcasts to policy: President Donald Trump's new AI plan leans heavily on Silicon Valley industry ideas
From tech podcasts to policy: President Donald Trump's new AI plan leans heavily on Silicon Valley industry ideas

Chicago Tribune

time14 minutes ago

  • Chicago Tribune

From tech podcasts to policy: President Donald Trump's new AI plan leans heavily on Silicon Valley industry ideas

An artificial intelligence agenda that started coalescing on the podcasts of Silicon Valley billionaires is now being forged into U.S. policy as President Donald Trump leans on the ideas of the tech figures who backed his election campaign. Trump on Wednesday is planning to reveal an 'AI Action Plan' he ordered after returning to the White House in January. He gave his tech advisers six months to come up with new AI policies after revoking President Joe Biden's signature AI guardrails on his first day in office. The unveiling is co-hosted by the bipartisan Hill and Valley Forum and the All-In Podcast, a business and technology show hosted by four tech investors and entrepreneurs who include Trump's AI czar, David Sacks. The plan and related executive orders are expected to include some familiar tech lobby pitches. That includes accelerating the sale of AI technology abroad and making it easier to construct the energy-hungry data center buildings that are needed to form and run AI products, according to a person briefed on Wednesday's event who was not authorized to speak publicly and spoke on condition of anonymity. It might also include some of the AI culture war preoccupations of the circle of venture capitalists who endorsed Trump last year. Countering the liberal bias they see in AI chatbots such as ChatGPT or Google's Gemini has long been a rallying point for the tech industry's loudest Trump backers. Sacks, a former PayPal executive and now Trump's top AI adviser, has been criticizing 'woke AI' for more than a year, fueled by Google's February 2024 rollout of an AI image generator that, when asked to show an American Founding Father, created pictures of Black, Asian and Native American men. 'The AI's incapable of giving you accurate answers because it's been so programmed with diversity and inclusion,' Sacks said at the time. Google quickly fixed its tool, but the 'Black George Washington' moment remained a parable for the problem of AI's perceived political bias, taken up by X owner Elon Musk, venture capitalist Marc Andreessen, Vice President JD Vance and Republican lawmakers. The administration's latest push against 'woke AI' comes a week after the Pentagon announced new $200 million contracts with four leading AI companies, including Google, to address 'critical national security challenges.' Also receiving one of the contracts was Musk's xAI, which has been pitched as an alternative to 'woke AI' companies. The company has faced its own challenges: Earlier this month, xAI had to scramble to remove posts made by its Grok chatbot that made antisemitic comments and praised Adolf Hitler. Trump has paired AI's need for huge amounts of electricity with his own push to tap into U.S. energy sources, including gas, coal and nuclear. 'Everything we aspire to and hope for means the demand and supply of energy in America has to go up,' said Michael Kratsios, the director of the White House's Office of Science and Technology Policy, in a video posted Tuesday. Many tech giants are already well on their way toward building new data centers in the U.S. and around the world. OpenAI announced this week that it has switched on the first phase of a massive data center complex in Abilene, Texas, part of an Oracle-backed project known as Stargate that Trump promoted earlier this year. Amazon, Microsoft, Meta and xAI also have major projects underway. The tech industry has pushed for easier permitting rules to get their computing facilities connected to power, but the AI building boom has also contributed to spiking demand for fossil fuel production that will contribute to global warming. United Nations Secretary-General Antonio Guterres on Tuesday called on the world's major tech firms to power data centers completely with renewables by 2030. 'A typical AI data center eats up as much electricity as 100,000 homes,' Guterres said. 'By 2030, data centers could consume as much electricity as all of Japan does today.' It's long been White House policy under Republican and Democratic administrations to curtail certain technology exports to China and other adversaries on national security grounds. But much of the tech industry argued that Biden went too far at the end of his term in trying to restrict the exports of specialized AI computer chips to more than 100 other countries, including close allies. Part of the Biden administration's motivation was to stop China from acquiring coveted AI chips in third-party locations such as Southeast Asia or the Middle East, but critics said the measures would end up encouraging more countries to turn to China's fast-growing AI industry instead of the U.S. as their technology supplier. It remains to be seen how the Trump administration aims to accelerate the export of U.S.-made AI technologies while countering China's AI ambitions. California chipmakers Nvidia and AMD both announced last week that they won approval from the Trump administration to sell to China some of their advanced computer chips used to develop artificial intelligence. AMD CEO Lisa Su is among the guests planning to attend Trump's event Wednesday. There are sharp debates on how to regulate AI, even among the influential venture capitalists who have been debating it on their favorite medium: the podcast. While some Trump backers, particularly Andreessen, have advocated an 'accelerationist' approach that aims to speed up AI advancement with minimal regulation, Sacks has described himself as taking a middle road of techno-realism. 'Technology is going to happen. Trying to stop it is like ordering the tides to stop. If we don't do it, somebody else will,' Sacks said on the All-In podcast. On Tuesday, 95 groups including labor unions, parent groups, environmental justice organizations and privacy advocates signed a resolution opposing Trump's embrace of industry-driven AI policy and calling for a 'People's AI Action Plan' that would 'deliver first and foremost for the American people.' Amba Kak, co-executive director of the AI Now Institute, which helped lead the effort, said the coalition expects Trump's plan to come 'straight from Big Tech's mouth.' 'Every time we say, 'What about our jobs, our air, water, our children?' they're going to say, 'But what about China?'' she said in a call with reporters Tuesday. She said Americans should reject the White House's argument that the industry is overregulated and fight to preserve 'baseline protections for the public' as AI technology advances.

Paul urges DOJ to charge Fauci to test pardon
Paul urges DOJ to charge Fauci to test pardon

The Hill

time14 minutes ago

  • The Hill

Paul urges DOJ to charge Fauci to test pardon

Sen. Rand Paul (R-Ky.), chairman of the Senate Homeland Security Committee, is calling on the Justice Department (DOJ) to charge former senior national health adviser Anthony Fauci with lying to Congress to test whether former President Biden's pardon of Fauci will hold up in court. 'I do believe Anthony Fauci committed a felony by lying to Congress,' Paul told pro-President Trump activist Charlie Kirk in an interview when asked whether Biden pardon's signed by autopen would hold up in court. 'You have to charge him with a felony, take him to court and then the court will decide whether or not the pardon is upheld,' he continued. 'You can argue until you're blue in the face that you can't do autopens and that maybe the president wasn't aware of it. But the only way to actually do this is to charge someone who has been pardoned.' The Kentucky Republican added, 'I think Anthony Fauci is the most likely to be chargeable. There are other people — Hunter Biden could be charged as well — but someone has to be charged.' Paul says Fauci testified before Congress 'in a very vigorous and heated and animated way' that the National Institutes of Health never funded gain-of-function virus research in Wuhan, China. 'This is directly contradicted by the actual people who were involved in the funding,' the senator said. Other Republicans, however, have expressed skepticism about challenging the autopen pardons after Biden told The New York Times that he personally approved them. 'I made every decision,' Biden told The Times earlier this month. He said he had his staff use an autopen to replicate his signature because 'we're talking about a whole lot of people.' Biden also pardoned his son Hunter, former Chairman of the Joint Chiefs of Staff Mark Milley and members of the House committee that investigated the Jan. 6, 2021, attack on Congress.

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