Trump says US, Philippines very close to finishing trade deal
WASHINGTON (REUTERS) US President Donald Trump on Tuesday said the US was close to finalising a trade agreement with the Philippines.
'We're going to talk about trade today and we are very close to finishing a trade deal, a big trade deal actually,' Trump told reporters at the start of a meeting with Philippine President Ferdinand Marcos Jr. at the White House.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The National
2 hours ago
- The National
US State Department to investigate Harvard sponsorship of international student visas
The US State Department has launched an investigation into whether Harvard University should remain eligible to sponsor international student visas. The investigation comes amid heightened tension between President Donald Trump and the Ivy League university in Boston over what the Trump administration claims is anti-Israel bias. 'Visa sponsorship is a privilege, and sponsors whose conduct tarnishes our nation's interests will lose that privilege,' Secretary of State Marco Rubio said on X on Wednesday. The State Department said it would look into whether Harvard has complied with visa regulations that include 'transparency in reporting, and a demonstrated commitment to fostering the principles of cultural exchange and mutual understanding upon which the programme was founded'. It is unclear exactly how or whether Harvard has violated the programme in any way. 'This investigation is yet another retaliatory step taken by the administration in violation of Harvard's First Amendment rights,' university spokeswoman Sarah Kennedy-O'Reilly said in a statement. 'Harvard continues to enrol and sponsor international scholars, researchers and students, and will protect its international community and support them as they apply for US visas and travel to campus this [autumn]. The university is committed to continuing to comply with the applicable exchange visitor programme regulations.' The Trump administration has cracked down on foreign students who have demonstrated in support of Palestine and has attempted to force universities to address an alleged liberal bias. The administration and Harvard have been battling in court for months over issues including foreign students and federal funding. 'The American people have the right to expect their universities to uphold national security, comply with the law, and provide safe environments for all students,' the State Department said. 'The investigation will ensure that State Department programmes do not run contrary to our nation's interests.'
The National
3 hours ago
- The National
Trump's AI plan seeks to remove regulatory barriers and shuns DEI
President Donald Trump on Wednesday unveiled a three-pillared strategy that his administration refers to as America's AI Action Plan, after much anticipation from US technology companies. Accelerating artificial intelligence innovation, building AI infrastructure in the US and leading in AI diplomacy are the strategy's three main sections. Mr Trump was expected to speak in greater detail about the AI strategy at an event in Washington later on Wednesday. Like many of Mr Trump's initiatives, his proposal seeks to portray former president Joe Biden's AI strategy as burdensome from a regulatory perspective and full of identity politics and environmental red tape. President Trump's plan directs the National Institute of Standards and Technology to 'revise the AI management framework, eliminating references to diversity, equity and inclusion, misinformation and climate change'. The AI push also looks at issues many experts consider more pertinent to the global AI race. It seeks to streamline the construction permit process for data centres, which are becoming critical to AI breakthroughs. The plan also emphasises exporting 'American AI technologies through full-stack deployment packages and international data centre initiatives led by the Department of Commerce'. That sort of data centre deal is similar to what was unveiled during President Trump's visit to the UAE in May. Then, President Sheikh Mohamed and Mr Trump announced plans for a new 5GW UAE-US AI Campus in Abu Dhabi. If more of those deals come to fruition, it could help the US gain influence as other countries seek to join the race to provide computational power for AI. Hypothetically, it could also give the US a competitive edge over China, which also aims to be a dominant AI player. With his AI Action Plan, Mr Trump is attempting to put the kibosh on local regulatory efforts within the US. State legislative bodies have passed laws to put guardrails on AI in an effort to protect workers from labour disruption. 'Prohibit federal AI funds from going to states with restrictive AI regulations,' reads one of the plan descriptions, also insisting that such prohibitive policies 'respect states' legislative rights'. On a technical level, proponents of open-source AI development are likely to take a victory lap after Mr Trump's plan. It throws support behind open-source and open-weight AI models. Supporters of open-source AI models often say they democratise artificial intelligence, whereas closed-source models only allow for those with access to larger computing infrastructures to develop the technology. Neil Chilson, former chief technologist for the Federal Trade Commission and currently head of artificial intelligence policy at the Abundance Institute, called the AI plan a 'course correction' from the previous policies of the Biden White House. 'We're particularly excited to see the emphasis on removing regulatory barriers to AI adoption and deployment and streamlining of infrastructure permitting,' he said. Over at the Competitive Enterprise Institute think tank, reaction to President Trump's plan was more tepid, alleging that the AI plan still exerted too much regulatory control. 'The plan's push for international AI standards is similar to the European Union's stultifying regulatory harmonization, which, among other things, is locking the continent into USB-C technology for years to come, even as better technologies emerge,' said Ryan Young, Senior Economist with the Competitive Enterprise Institute. According to White House officials, President Trump is pushing 90 federal policy actions in the plan, which comes after he sought public input for a comprehensive AI policy in February. Tech companies, academics and advocacy groups submitted ideas. Consumer rights, labour and environmental groups outlined areas of concern within Mr Trump's less restrictive stance on AI. Several organisations, such as the Electronic Frontier Foundation, were concerned the tech industry would have too much influence in crafting the AI plan. 'While current machine-learning technologies have some positive applications, they are also being adopted in consequential decision-making contexts where these emerging technologies are likely to cause harm and unlikely to deliver the promised benefits,' the EFF wrote in a March letter to the White House. During a conference call with reporters, the White House disagreed with the narrative that tech firms had amassed more influence. 'It was probably one of the most diverse set of individuals from across the country and across different sectors, from civil society to Hollywood to academia to the private sector,' a White House official said. The Trump administration said it had received more than 10,000 responses to the requests for guidance, from which it moulded the AI plan. Early in Mr Trump's second term, he signed an executive order that rescinded Mr Biden's executive order on AI. That order acknowledged the tremendous potential upside of AI and encouraged the acceleration of vital AI standards, but was also geared towards implementing guardrails to protect consumers. 'Developers of the most powerful AI systems [must] share their safety test results and other critical information with the US government,' a portion of Mr Biden's executive order read. That policy is largely absent from President Trump's plan.
Gulf Today
3 hours ago
- Gulf Today
Germany plans to play central role in rearming Europe
For Gundbert Scherf — the co-founder of Germany's Helsing, Europe's most valuable defence start-up — Russia's invasion of Ukraine changed everything. Scherf had to fight hard to attract investment after starting his company — which produces military strike drones and battlefield AI — four years ago. Now, that's the least of his problems. The Munich-based company more than doubled its valuation to $12 billion at a fundraising last month. 'Europe this year, for the first time in decades, is spending more on defense technology acquisition than the US," said Scherf. The former partner at McKinsey & Company says Europe may be on the cusp of a transformation in defence innovation akin to the Manhattan Project — the scientific push that saw the US rapidly develop nuclear weapons during World War Two. 'Europe is now coming to terms with defence.' Reuters spoke to two dozens executives, investors and policymakers to examine how Germany — Europe's largest economy — aims to play a central role in the rearming the continent. Chancellor Friedrich Merz's government views AI and start-up technology as key to its defence plans and is slashing bureaucracy to connect startups directly to the upper echelons of its military, the sources told Reuters. Shaped by the trauma of Nazi militarism and a strong postwar pacifist ethos, Germany long maintained a relatively small and cautious defence sector, sheltered by US security guarantees. Germany's business model, shaped by a deep aversion to risk, has also favoured incremental improvements over disruptive innovation. No more. With US military support now more uncertain, Germany — one of the biggest backers of Ukraine — plans to nearly triple its regular defence budget to around 162 billion euros ($175 billion) per year by 2029. Much of that money will go into reinventing the nature of warfare, the sources said. Helsing is part of a wave of German defence start-ups developing cutting-edge technology, from tank-like AI robots and unmanned mini-submarines to battle-ready spy cockroaches. 'We want to help give Europe its spine back," said Scherf. Some of these smaller firms are now advising the government alongside established firms — so-called primes such as Rheinmetall and Hensoldt — that have less incentive to focus primarily on innovation, given their long backlogs for conventional systems, one of the sources said. A new draft procurement law, expected to be approved by Merz's cabinet on Wednesday, aims to reduce hurdles for cash-strapped start-ups to join tenders by enabling advance payment to these firms, according to a version dated June 25, reviewed by Reuters. The law would also entitle authorities to limit tenders to bidders inside the European Union. Marc Wietfeld, CEO and founder of autonomous robots maker ARX Robotics, said a recent meeting with German defence minister Boris Pistorius hammered home how deep the rethink in Berlin goes. "He told me: 'Money is no longer an excuse — it's there now'. That was a turning point," he said. Since Donald Trump's return to the political stage and his renewed questioning of America's commitment to NATO, Germany has committed to meet the alliance's new target of 3.5% of GDP on defense spending by 2029 - faster than most European allies. Officials in Berlin have emphasized the need to foster a European defence industry rather than rely on U.S. companies. But the hurdles towards scaling up industry champions in Germany - and Europe more broadly - are considerable. Unlike in the United States, the market is fragmented in Europe. Each country has its own set of procurement standards to fulfill contracts. The United States, the world's top military spender, already has an established stable of defence giants, like Lockheed Martin and RTX, and an advantage in key areas, including satellite technology, fighter jets and precise-guided munitions. Washington also began boosting defence tech startups in 2015 - including Shield AI, drone maker Anduril and software company Palantir - by awarding them parts of military contracts. European startups until recently languished with little government support. But an analysis by Aviation Week in May showed Europe's 19 top defence spenders - including Turkey and Ukraine - were projected to spend 180.1 billion this year on military procurement compared, to 175.6 billion for the United States. Washington's overall military spending will remain higher. Hans Christoph Atzpodien, head of Germany's security and defence sector association BDSV, said one challenge was that the military's procurement system was geared toward established suppliers and not well suited to the fast pace that new technologies require. Germany's defence ministry said in a statement it was taking steps to accelerate procurement and to better integrate startups in order to make new technologies quickly available to the Bundeswehr. Annette Lehnigk-Emden, head of the armed forces' powerful procurement agency, highlighted drones and AI as emerging fields that Germany needs to develop. "The changes they're bringing to the battlefield are as revolutionary as the introduction of the machine gun, tank, or airplane," she told Reuters. Sven Weizenegger, who heads up the Cyber Innovation hub, the Bundeswehr's innovation accelerator, said the war in Ukraine was also changing social attitudes, removing a stigma towards working in the defence sector. "Germany has developed a whole new openness towards the issue of security since the invasion," he said. Weizenegger said he was receiving 20-30 Linkedin requests a day, compared to maybe 2-3 weekly back in 2020, with ideas for defence technology to develop. Some of the ideas under development feel akin to science fiction - like Swarm Biotactics' cyborg cockroaches that are equipped with specialised miniature backpacks that enable real-time data collection via cameras for example. Electrical stimuli should allow humans to control the insects' movements remotely. The aim is for them to provide surveillance information in hostile environments - for example information about enemy positions. "Our bio-robots — based on living insects — are equipped with neural stimulation, sensors, and secure communication modules," said CEO Stefan Wilhelm. "They can be steered individually or operate autonomously in swarms. In the first half of the 20th century, German scientists pioneered many military technologies that became global standards, from ballistic missiles to jet aircraft and guided weapons. But following its defeat in World War II, Germany was demilitarized and its scientific talent was dispersed. Wernher von Braun, who invented the first ballistic missile for the Nazis, was one of hundreds of German scientists and engineers transported to the United States in the wake of World War II, where he later worked at NASA and developed the rocket that took Apollo spacecraft to the Moon. In recent decades, defence innovation has been a powerful driver of economic progress. Tech like the internet, GPS, semiconductors and jet engines originated in military research programs before transforming civilian life. Hit by high energy prices, a slowdown in demand for its exports and competition from China, Germany's $4.75 trillion economy contracted over the last two years. Expanding military research could provide an economic fillip. "We just need to get to this mindset: a strong defense industrial base means a strong economy and innovation on steroids," said Markus Federle, managing partner at defence-focused investment firm Tholus Capital. Risk aversion among European investors had in the past disadvantaged startups, which struggled to get the capital they need to survive the 'valley of death' — the critical early stage when costs are high and sales low. But a boost in defence spending by European governments following Russia's invasion of Ukraine has investors looking for opportunities. Europe now boasts three start-ups with a unicorn valuation of more than $1 billion: Helsing, German drone maker Quantum Systems, and Portugal's Tekever, which also manufactures drones. "There's a lot of pressure now on Germany being the lead nation of the European defense," said Sven Kruck, Quantum's chief strategy officer. Germany has become Ukraine's second-biggest military backer after the United States. Orders that might once have taken years to approve now take months and European startups have had the opportunity to test their products quickly in the field, several sources said. Venture capital funding of European defence tech hit $1 billion in 2024, up from a modest $373 million in 2022, and is expected to surge even more this year. "Society has recognized that we have to defend our democracies," said Christian Saller, general partner at HV Capital, an investor in both ARX and Quantum Systems. Venture capital funding has grown faster in Germany than elsewhere, according to a data analysis by Dealroom for Reuters. German defence startups have received $1.4 billion in the last five years from investors, followed by UK, the data shows. Reuters
