Trump announces face-to-face talks with Putin next week followed by three-way talks with Ukraine's Zelenskyy
Trump then plans to follow shortly afterward with a meeting between himself, Putin and President Volodymyr Zelenskyy of Ukraine.
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Yahoo
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- Yahoo
What Gov. Mike Braun said about redistricting in Indiana following meeting with JD Vance
Gov. Mike Braun was noncommittal about the prospect of redistricting in Indiana following a meeting with Vice President JD Vance and Indiana legislative leaders at the Indiana Statehouse on Aug. 7. When asked by reporters if the group came to a consensus on redrawing the state's congressional maps ahead of the 2026 midterm elections, Braun said "We listened." He also described the conversation as "pretty good." "It was great to meet with @VPVance today," he posted on X. "We discussed a number of issues, and I was pleased to highlight some of the great things happening in Indiana," Braun tweeted after the meeting. The push in Indiana, where Republicans already hold seven of the state's nine U.S. House seats, comes as the Trump administration is looking to Republican-led states to initiate mid-decade redistricting in order to pad the GOP majority in the U.S. House of Representatives prior to 2026. The party breakdown currently stands at 219 Republicans to 212 Democrats. The effort is already underway in Republican-led Texas, where new congressional maps could give the GOP as many as five additional seats. Texas Democrats fled the state on Aug. 3 to disrupt legislative processes to approve those maps. Political analysts say, if Gov. Mike Braun calls a special session for redistricting, Republicans could easily redraw maps in Northwest Indiana to flip the 1st Congressional District, currently held by Democratic U.S. Rep. Frank Mrvan. That would put the state at eight Republican seats to one Democratic one. Redrawing the 7th Congressional District in Indianapolis, held by longtime U.S. Rep. Andre Carson, to get the state to nine Republicans would pose more challenges. Any breakup of deep blue Democratic voters in Marion County could make other Republican House districts more vulnerable in future elections, analysts said. This story will be updated. Contact IndyStar state government and politics reporter Brittany Carloni at Sign up for our free weekly politics newsletter, Checks & Balances, curated by IndyStar politics and government reporters. This article originally appeared on Indianapolis Star: Following VP visit, will Indiana GOP start mid-decade redistricting?
Yahoo
11 minutes ago
- Yahoo
Trump's planned 100% computer chip tariff sparks confusion among businesses and trading partners
President Donald Trump's plans for 100% tariffs on computer chips that aren't made in the U.S. are stoking confusion among businesses and trading partners — boosting stocks for leading semiconductor companies while leaving smaller producers scrambling to understand the implications. The U.S. imports a relatively small number of chips because most of the foreign-made chips in a device — from an iPhone to a car — were already assembled into a product, or part of a product, before it landed in the country. "The real question everybody in the industry is asking is whether there will be a component tariff, where the chips in a device would require some sort of separate tariff calculation,' said Martin Chorzempa, a senior fellow at the Peterson Institute for International Economics. Trump said Wednesday that companies that "made a commitment to build" in the U.S. would be spared the import tax, even if they are not yet producing those chips in American factories. 'We'll be putting a tariff of approximately 100% on chips and semiconductors,' Trump said in the Oval Office while meeting with Apple CEO Tim Cook. 'But if you're building in the United States of America, there's no charge.' Wall Street investors interpreted that as good news not just for U.S. companies like AMD, Intel and Nvidia, but also for the biggest Asian chipmakers like Samsung and Taiwan Semiconductor Manufacturing Company that have been working to build U.S. factories. But it left greater uncertainty for smaller chipmakers in Europe and Asia that have little exposure to the AI boom but still make semiconductors inserted into essential products like cars or washing machines. These producers "probably aren't large enough to get on the map for an exemption and quite probably wouldn't have the kind of excess capital and margins to be able to add investment at a large scale into the United States,' Chorzempa said. The announcement came more than three months after Trump temporarily exempted most electronics from his administration's most onerous tariffs. During the COVID-19 pandemic, a shortage of computer chips increased the price of autos and contributed to higher inflation. Chorzempa said chip tariffs could again raise prices by hundreds of dollars per vehicle if the semiconductors inside a car are not exempt. 'There's a chip that allows you to open and close the window," Chorzempa said. "There's a chip that is running the entertainment system. There is a chip that's kind of running all the electronics. There are chips, especially in EVs, that are doing power management, all that kind of stuff.' Much of the investment into building U.S. chip factories began with the bipartisan CHIPS and Science Act that President Joe Biden signed into law in 2022, providing more than $50 billion to support new computer chip plants, fund research and train workers for the industry. Trump has vocally opposed those financial incentives and taken a different approach, betting that the threat of dramatically higher chip costs would force most companies to open factories domestically, despite the risk that tariffs could squeeze corporate profits and push up prices for electronics. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
11 minutes ago
- Yahoo
Nvidia, chip stocks jump after Trump says some chipmakers exempt from 100% semiconductor tariff
Chip stocks climbed on Thursday after President Trump said he'll exempt companies from his planned semiconductor tariffs if they have committed to making their chips in the US. 'We'll be putting a tariff of approximately 100% on chips and semiconductors,' Trump said during a press conference at the Oval Office Wednesday afternoon. 'But if you're building in the United States of America, there's no charge.' 'If you've made a commitment to build or if you're in the process of building, as many are, there is no tariff.' Leading AI chipmaker Nvidia (NVDA) stock rose as much as 2.5% Thursday to a fresh intraday high of $183.88 before paring gains midday. Shares of rival Advanced Micro Devices rose more than 6%, while Broadcom (AVGO) and Micron (MU) stocks rose 1% and 2%, respectively. Most of the world's advanced chips are produced by leading contract chip manufacturer TSMC (TSM) in Taiwan, but the company has been building out its capacity in Arizona with a $165 billion investment, exempting it from Trump's tariffs. The company's US-listed shares jumped more than 4% Thursday. Tech companies have rushed to announce investments in their US manufacturing footprint in the hopes of avoiding Trump's trade war wrath. So far, Nvidia has committed to producing $500 billion of AI infrastructure in the US. Micron made a similar $200 billion commitment. Texas Instruments (TXN) has said it's spending $60 billion to bolster its manufacturing capacity in the US. Citi (C) analyst Christopher Danley said the exemptions mean the semiconductor tariff will have 'minimal impact…as US-based semiconductor companies with in-house fabs have operations in the US and fabless companies can commit to using TSMC, Samsung ( GFS (GFS) which have operations in the US.' 'Fabs' refer to factories where chips are produced, and 'fabless' companies outsource production of their chips to contract manufacturers such as TSMC, Samsung, and GFS. Companies with 'in-house fabs' include Intel (INTC), Micron, and Texas Instruments. Nvidia, AMD, Broadcom, and Qualcomm (QCOM) are 'fabless.' Morgan Stanley (MS) analyst Joseph Moore echoed Danley's sentiment, writing in a note to clients Thursday, 'To some degree this outcome would be something of a relief.' 'Yes, 100% tariffs are unpalatable but if companies are given time to restore them, the real tax is just the higher cost of building chips in the United States," he wrote. "The biggest fear was that such a tariff would be implemented immediately.' Still, Bernstein analyst Stacy Rasgon noted that there are questions surrounding how the tariffs would be applied, making it hard to determine its impact. He explained that most semiconductors are imported once they're already inside other products, and the US 'does not import a ton of raw chips" — $45 billion in 2024 — and it's unclear whether duties would just apply to raw semiconductors or also to products containing them. The US Department of Commerce did not immediately respond to Yahoo Finance's request for comment. Further details about the tariffs will be revealed when the agency publishes its findings from an investigation into US semiconductor imports it launched in April under Section 232 of The Trade Expansion Act, which empowers the president to restrict imports of products related to national security. "Trump's public statements often lack detail and nuance, so at this point we do not know exactly how the new rules will be implemented once they go into effect," Rasgon wrote. "We should know more once the actual 232 investigation results are published." Laura Bratton is a reporter for Yahoo Finance. Follow her on Bluesky @ Email her at Sign in to access your portfolio
