&w=3840&q=100)
White House to launch plan to boost US AI globally, limit foreign curbs
Reuters WASHINGTON
The White House intends to publish a plan on Wednesday that calls for the export of American AI technology abroad and a crackdown on state laws deemed too restrictive to let it flourish, a document seen by Reuters shows.
According to a summary of the draft plan seen by Reuters, the White House will bar federal AI funding from going to states with tough AI rules and ask the Federal Communications Commission to assess whether state laws conflict with its mandate.
It will also promote open source and open weight AI development and "export American AI technologies through full-stack deployment packages" and data center initiatives led by the Commerce Department.
The plan will "focus on empowering American workers through AI-enabled job creation and industry breakthroughs," according to the document.
Janet Egan, a fellow at The Center for a New American Security, said the plan, as described by Reuters, represents a market shift in strategy from "a primarily restrictive approach to AI" under Biden to a focus on answering the question "how do you start spreading the infrastructure and the technology that will underpin the globe?"
Despite the focus on expansion, the plan does mention the importance of "defending against misuse and preparing for future AI-related risks," according to the summary.
US President Donald Trump ordered his administration in January to produce a plan that would make "America the world capital in artificial intelligence" and reduce regulatory barriers to its rapid expansion.
That report, which includes input from the National Security Council, is due by Wednesday. Trump is set to mark that deadline with a major speech as part of an event titled Winning the AI Race, organized by White House AI and crypto czar David Sacks and his co-hosts on the All-In podcast.
"The Plan will deliver a strong, specific, and actionable federal policy roadmap that goes beyond the details reported here and we look forward to releasing it soon, White House Office of Science and Technology Policy spokeswoman Victoria LaCivita said in a statement.
Trump is laser-focused on removing barriers to AI expansion, a marked departure from his predecessor, Joe Biden, who feared US adversaries like China could harness AI to supercharge its military and harm allies.
Biden, who left office in January, imposed a raft of restrictions on exports of coveted American AI chips to China and other countries that could use or divert the semiconductors to China over national security concerns.
Trump rescinded Biden's executive order aimed at promoting competition, protecting consumers and ensuring AI was not used for misinformation. He also pulled back Biden's so-called AI diffusion rule, which capped the amount of American AI computing capacity that some countries were allowed to obtain via US AI chip imports.
Last month, Sacks downplayed the risk that coveted American AI chips could be smuggled to bad actors and expressed concern that regulating US AI too tightly could stifle growth and cede the critical market to China.
Under Trump's plan, the White House would also promote AI use at the Pentagon, launch a program to identify federal regulations that impede AI development and streamline the permitting process for data center construction.
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


Economic Times
17 minutes ago
- Economic Times
U.S. stock market today: Dow, S&P 500, Nasdaq climb on US–Japan deal as Tesla, Google, and meme stocks take center stage
AP The stock market is buzzing with momentum today as investors turn their attention to some of the biggest names driving Wall Street. From tech giants like Apple and Tesla to AI powerhouse Nvidia, the spotlight is firmly on high-performing stocks with strong earnings potential and market dominance. These top stocks are not only shaping the S&P 500's direction but also setting the pace for the broader global economy. US Stock Market Soars on Trump's US–Japan Trade Deal, Tesla and Alphabet Earnings in Focus- US stock market today is on a bullish run, thanks to a major breakthrough in trade negotiations between the United States and Japan. President Donald Trump's announcement of a sweeping U.S.–Japan trade agreement sparked optimism across global financial markets. Investors are also gearing up for big earnings reports from Tesla and Alphabet (Google's parent company), adding more fuel to Wednesday's momentum. Dow Jones Industrial Average: ▲ +250 points (+0.6%) The Dow climbed steadily, driven by strong earnings and optimism from the U.S.–Japan trade deal. ▲ +250 points (+0.6%) The Dow climbed steadily, driven by strong earnings and optimism from the U.S.–Japan trade deal. S&P 500: ▲ +0.4% Broad market gains continued as tech and industrials led the way, pushing the index near record highs. ▲ +0.4% Broad market gains continued as tech and industrials led the way, pushing the index near record highs. Nasdaq Composite: ▲ +0.3% Modest gains were fueled by anticipation of key earnings from Tesla and Alphabet, keeping tech investors engaged. ▲ +0.3% Modest gains were fueled by anticipation of key earnings from Tesla and Alphabet, keeping tech investors engaged. Russell 2000 (Small Caps): ▲ +0.9% Smaller U.S. companies rallied sharply on hopes of improved trade conditions and domestic economic momentum. ▲ +0.9% Smaller U.S. companies rallied sharply on hopes of improved trade conditions and domestic economic momentum. CBOE Volatility Index (VIX): ▼ -4% Market volatility eased, reflecting investor confidence and steady bullish sentiment. The Dow Jones Industrial Average, S&P 500, and Nasdaq Composite all posted early gains in Wednesday's trading session. Market sentiment turned positive following news that President Trump had finalized a significant trade deal with Japan, easing months of tariff tensions. Dow Jones surged by over 250 points , or 0.6% , climbing closer to its all-time high. surged by over , or , climbing closer to its all-time high. S&P 500 gained approximately 0.4% , continuing its upward trajectory. gained approximately , continuing its upward trajectory. Nasdaq Composite rose 0.3%, supported by investor anticipation around tech earnings. Futures had already pointed to a higher open before the bell, and the bullish sentiment carried through the session. According to RTTNews, the biggest movers in pre-market trading on July 23, 2025, were: Pineapple Financial (PAPL) : +153% at ~$8.87 : +153% at ~$8.87 GoPro (GPRO) : +50% at ~$2.06 : +50% at ~$2.06 Vicor Corp (VICR) : +46% at ~$66.44 : +46% at ~$66.44 OFA Group (OFAL) : +41% at ~$2.44 : +41% at ~$2.44 Krispy Kreme (DNUT): +40% at ~$5.80 In after-hours trading, confirms continued momentum: ABVAX surged ~470% (!) surged ~470% (!) OFA Group +70%, GoPro +60%, Vicor +33%, Krispy Kreme +35% The centerpiece of the market rally is President Trump's new trade deal with Japan. The agreement, finalized in Tokyo, includes several significant economic changes: Auto tariffs reduced to 15%, giving American and Japanese carmakers room to breathe. $550 billion Japanese investment commitment into American manufacturing and infrastructure. A renewed five-year economic cooperation framework, focusing on tech innovation, supply chain resilience, and AI research. This comprehensive deal is being hailed as a win for U.S. manufacturing, auto exports, and the broader global economy. The announcement has already sparked a 3.5% jump in Japan's Nikkei index and buoyed markets across Europe, including the Euro Stoxx 600, which rose nearly 1%. Wall Street is also laser-focused on Q2 earnings reports from two tech giants — Tesla (TSLA) and Alphabet (GOOGL) — scheduled for after-market hours. Tesla's revenue is expected to drop more than 10% year-over-year. Analysts are watching closely for updates on EV demand, Cybertruck production, and robotaxi deployment. Any commentary from Elon Musk on China market strategy and AI software development could move the stock. Tesla shares are volatile going into earnings, with many traders bracing for either a sharp rally or steep correction. Alphabet is projected to deliver solid growth in advertising and cloud services. YouTube ad revenue and Google Cloud profits are likely to be major focus areas. Investors are also watching closely for updates on Gemini AI, Google's answer to ChatGPT, and its rollout impact on enterprise adoption. Alphabet shares have been relatively stable, but a strong report could lift the broader tech sector. Several retail-favorite stocks made unexpected surges as meme-stock momentum returned to markets: GoPro (GPRO) spiked by nearly 50% after retail traders drove heavy volume. spiked by nearly after retail traders drove heavy volume. Krispy Kreme (DNUT) surged over 30% , following viral buzz on Reddit and TikTok. surged over , following viral buzz on Reddit and TikTok. Kohl's (KSS) and Opendoor (OPEN) also saw double-digit gains, driven by short squeezes and social media hype. This sudden revival of meme stock rallies mirrors the 2021 retail trading craze and could introduce more volatility in the days ahead. On the downside, Texas Instruments saw a steep drop of 11% after releasing guidance that pointed to sluggish analog chip demand. The chipmaker's cautious outlook contrasts with broader optimism in the semiconductor space. GE Vernova , an energy subsidiary of General Electric, saw modest gains after reporting strong results. , an energy subsidiary of General Electric, saw modest gains after reporting strong results. Oil prices climbed over 1% amid expectations that improved trade relations would boost global demand. amid expectations that improved trade relations would boost global demand. The Russell 2000 small-cap index also advanced by 0.8%–1%, a sign of increased investor confidence in the domestic economy. The U.S.–Japan agreement sent ripple effects across global markets: Tokyo's Nikkei 225 jumped 3.6%, its best single-day gain in months. jumped 3.6%, its best single-day gain in months. FTSE 100 in London rose 0.9% as commodity stocks rallied. in London rose 0.9% as commodity stocks rallied. Shanghai Composite climbed 0.5%, though trade with China remains a concern amid ongoing tech tensions. European officials are reportedly seeking counter-deals with Washington, and negotiations may begin in Brussels later this week. Major trade breakthrough between two top economies Anticipation of strong tech earnings Renewed retail investor momentum in meme stocks Volatility likely after Tesla and Alphabet earnings Chip sector weakness could weigh on broader tech Trade tensions with Europe and China still unresolved Tesla and Alphabet earnings due after the market close (July 23). due after the market close (July 23). GDP and inflation data set for release on Friday (July 25). set for release on Friday (July 25). Federal Reserve's next interest rate decision expected on July 31. Investors should also watch for continued developments around the U.S.–Japan deal implementation, including possible reactions from EU trade officials and domestic industries impacted by tariff revisions. The stock market today, July 23, 2025, shows strong positive momentum, driven by renewed trade optimism and key tech earnings on the horizon. With President Trump securing a major economic agreement with Japan, investors are hopeful that geopolitical stability and policy clarity will continue to support the market's upward march. However, much depends on how tech giants like Tesla and Alphabet perform in their earnings and how central banks respond to macroeconomic data. Stay tuned — the second half of the trading week could set the tone for the rest of the quarter. Q1: What are the top stocks to watch today like Apple, Tesla, and Nvidia? A1: Apple, Tesla, and Nvidia are leading today's market with strong performance and investor buzz. Q2: Why is Nvidia a top stock in 2025 for AI growth? A2: Nvidia is dominating the AI chip space, making it one of 2025's top-performing stocks.
&w=3840&q=100)

Business Standard
17 minutes ago
- Business Standard
European Union readies €100 bn no-deal plan to match US 30% tariff
The European Union plans to quickly hit the US with 30 per cent tariffs on some €100 billion ($117 billion) worth of goods in the event of no deal and if US President Donald Trump carries through with his threat to impose that rate on most of the bloc's exports after Aug. 1. As a part of a first wave of countermeasures, the EU would combine an already approved list of tariffs on €21 billion of US goods and a previously proposed list on an additional €72 billion of American products into one package, a European Commission spokesman said on Wednesday. The US exports, which include industrial goods such as Boeing Co. aircraft, US-made cars and bourbon whiskey, would face a levy that matches Trump's 30 per cent threat, according to people familiar with the matter. The threatened retaliation from Brussels would hit about one-third of American exports to the EU, based on the €335 billion worth of US goods shipped to the bloc last year. The tariffs would be prepared to come into force next month but only if there is no deal and the US implements its levies after the August deadline, said the people who spoke on condition of anonymity to discuss private deliberations. The euro extended a fall after the report, down 0.3 per cent at $1.1723, leading losses among major currencies. German bonds trimmed an earlier decline. The plans come as EU member states, including Germany, have hardened their positions in response to the US stiffening its negotiating stance. Berlin would be willing to even support the activation of the EU's anti-coercion instrument, or ACI, in a no-deal scenario, a government official said on condition of anonymity. This tool would come into play only if a deal fails to materialise. Trump announced two tariff deals on Tuesday — one with the Philippines and another with Japan, and both featured across-the-board duties on their imports that were lower than initially threatened. Also noteworthy was the 15 per cent US levy on Japanese autos that was lower than the current 25 per cent rate on major car exporters including the EU. European leaders are in Tokyo and Beijing this week for talks with some of the the bloc's biggest trading partners in Asia. US Treasury Secretary Scott Bessent, speaking with Bloomberg Television on Wednesday, said the EU hasn't yet brought anything as innovative as the Japanese offer. 'Talks are going better than they had been,' he said in the interview. 'I think that we are making good progress with the EU, but as I've said before, the EU has a collective action problem with 27 countries.' The EU's most potent trade tool is the ACI, and a growing number of member states is pushing for its use if a deal isn't reached. The instrument is primarily designed as a deterrent and is currently not on the table, with its activation requiring a qualified majority of member states to support the move. The ACI would enable the EU to launch a broad range of retaliatory actions, including new taxes on US tech giants, targeted curbs on US investments, and limiting access to the EU market. 'We are now approaching the decisive phase in the tariff dispute with the USA — we need a fair, reliable agreement with low tariffs,' German Chancellor Friedrich Merz told reporters in Berlin on Tuesday after a meeting with his Czech counterpart Petr Fiala. 'Without such an agreement, we risk economic uncertainty at a time when we actually need exactly the opposite.' The Commission, the EU's executive arm, is discussing the instrument with member states, the people said. While some capitals having been pushing to use the tool, most want to wait to see how the situation develops beyond Aug. 1 before progressing discussions further to try to achieve the required majority, they added. The overwhelming preference is to keep negotiations with Washington on track in a bid for an outcome to the impasse ahead of next month's deadline. EU and US negotiators are scheduled to continue talks on Wednesday. The US is now seen to want a near-universal tariff on EU goods higher than 10 per cent, with increasingly fewer exemptions limited to aviation, some medical devices and generic medicines, several spirits, and a specific set of manufacturing equipment that the US needs, Bloomberg previously reported. The two sides have also discussed a potential ceiling for some sectors, as well as quotas for steel and aluminum and a way to ring-fence supply chains from sources that oversupply the metals. Any agreement would need Trump's sign off – and his position isn't clear. The US president wrote to the EU earlier in the month, warning of a 30 per cent tariff on most of its exports from Aug. 1. Alongside a universal levy, Trump has hit cars and auto parts with a 25 per cent customs tax, and steel and aluminum with double that. He's also threatened to target pharmaceuticals and semiconductors with new duties as early as next month, and recently announced a 50 per cent duty on copper. Hoped-for extension Before Trump's letter, the EU had been hopeful it was edging toward an initial framework that would allow detailed discussions to continue on the basis of a universal rate of 10 per cent on many of the bloc's exports. While most capitals and officials accept that any agreement would be asymmetrical in favor of the US and see the EU facing higher than 10 per cent rates, the bloc has been seeking wider exemptions than the US is offering, as well as looking to shield the bloc from future sectoral tariffs. The EU's €100 billion list would cover its response to Trump's universal duties as well as his tariffs on metals and cars. The level of pain that member states are prepared to accept varies, and some are open to landing on a higher 15 per cent levy if enough exemptions are secured and the scope of the duty was clear, the people said. In addition to the tariffs on goods, the bloc's executive arm is also working on measures that could see export controls as well as restrictions on some services and public procurement contracts introduced in future, they said.
&w=3840&q=100)

Business Standard
17 minutes ago
- Business Standard
No threat to India from upper Brahmaputra mega dam project, says China
China on Wednesday defended the launch of its massive hydropower dam on the Brahmaputra river in the environmentally sensitive Tibetan region, asserting that the project poses no threat to India or Bangladesh, both downstream countries the river flows through. Chinese Foreign Ministry spokesperson Guo Jiakun said at a briefing that the dam 'will not have any negative impact on the downstream regions'. He added that China has maintained communication with India and Bangladesh on the matter, and that it continues to share hydrological data and cooperate on flood prevention and disaster relief. The project, which is being developed near the Line of Actual Control (LAC) at Nyingchi City — close to Arunachal Pradesh — was formally announced by Chinese Premier Li Qiang on Saturday. The river, called Yarlung Zangbo in Tibet, flows into India as the Brahmaputra and subsequently into Bangladesh. India is reportedly keeping a close watch on what could become the world's largest hydropower station. The dam is projected to generate over 300 billion kilowatt-hours of electricity annually — more than the total yearly consumption of the United Kingdom. Why is China building a dam near Arunachal Pradesh? Beijing has positioned the dam as a key component of its green energy ambitions. Incorporated in China's 14th Five-Year Plan and long-term development blueprint through 2035, the project is intended to bolster clean energy production, reduce carbon emissions, and address climate change. According to a Reuters report, the dam could produce as much electricity in a year as the UK consumes. Chinese officials also claim that the project will provide flood control benefits, stimulate infrastructure growth, generate employment, and act as an economic booster for sectors such as construction and equipment manufacturing. With an estimated cost of $167 billion to $170 billion (around 1.2 trillion yuan), it is expected to support China's bond markets and reinforce its energy security goals. Why is India worried about the Chinese dam? India has expressed serious concern over the strategic and environmental implications of the project. Officials in New Delhi worry that China's upstream control of a critical transnational river could give it the ability to manipulate water flow — using it as a geopolitical tool in times of conflict. Arunachal Pradesh Chief Minister Pema Khandu has described the project as a 'ticking water bomb' and an existential threat. 'The issue is that China cannot be trusted. No one knows what they might do,' Khandu said in an interview earlier this month. He also noted that China is not party to any international water-sharing treaty that might have imposed regulatory checks. Experts in India fear that, aside from power generation, the dam could enable China to hold or release large volumes of water — potentially causing artificial floods in Indian territory. Guo, however, emphasised that the project aims to improve the lives of local communities while contributing to climate goals. 'In the planning, design and construction of the hydro projects, China strictly adheres to top-level industrial standards to ensure full ecological protection,' he said.