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Yahoo
16 minutes ago
- Yahoo
Why the Nvidia, AMD revenue-sharing pact with the White House is ripe for a legal challenge
The White House's reported deals with chipmakers Nvidia (NVDA) and Advanced Micro Devices (AMD) for a cut of their chip sales to China are unorthodox and unprecedented — and likely to end up in court. The two pacts, according to multiple reports, would divert 15% of the companies' respective sales revenues earned on China-destined chips to the US government. In exchange for the profit sharing, the US would grant export licenses allowing Nvidia to resume sales of its H20 chips to China and AMD to resume sales of its MI308 chips to China. Wall Street is happy, at least in early afternoon trading on Monday: Both Nvidia and AMD stocks are up. But legal experts say that neither the president nor Congress is empowered to tax exports. Article I, Section 9, of the US Constitution, known as the Export Clause, prohibits such levies, saying, "No Tax or Duty shall be laid on Articles exported from any State.' 'The Constitution is clear that there really cannot be any tax on exports,' said Douglas Jacobson, an international trade lawyer with Jacobson Burton Kelley. 'In my view, it's a slam-dunk unconstitutional tax on exports.' And the US Supreme Court has interpreted the Export Clause to prohibit Congress from imposing duties on exports, even when they're characterized otherwise. Its controlling view on federally mandated export charges was stated in the unanimous 1998 decision in United States v. United States Shoe Corp. In that case, the high court struck down a congressionally approved ad valorem charge of 0.125% on exports imposed by the US Customs Service. The charge, calculated based on the value of commercial cargo shipped through US ports, known as the Harbor Maintenance Tax (HMT), was intended to fund upkeep on US harbors. On behalf of former President Bill Clinton's administration, the US Solicitor General argued that the HMT was a 'user fee,' and not a tax. But the court disagreed, reasoning that because the charge operated like an export tax, it violated the Export Clause. Siding with US Shoe, the court said in its opinion that the HMT 'bears the indicia of a tax.' Beyond the Constitution's export tax prohibition, the Export Controls Reform Act, passed by Congress in 2018, specifically prohibits charging exporters to obtain export licenses. Under US law, certain fees on export licenses have been held constitutional. Military exports, for example, are treated differently from non-military goods and fall under the administration of the US State Department, which requires manufacturers of military items to pay annual licensing fees. Even so, those fees are not based on the value of an applicant's exports. 'User fees are entirely permissible,' Jacobson said, but a deal for chipmakers to pay the government a 15% profit share acts like a reverse tariff and 'is clearly not a user fee.' "None of us have seen the government get a piece of the pie in this explicit way before," Tom Essaye, Sevens Report Research founder, told Yahoo Finance on Monday. A spokesperson for Nvidia neither confirmed nor acknowledged the reported profit-sharing agreement. 'We follow rules the US government sets for our participation in worldwide markets. While we haven't shipped H20 to China for months, we hope export control rules will let America compete in China and worldwide,' the spokesperson said. 'America cannot repeat 5G and lose telecommunication leadership. America's AI tech stack can be the world's standard if we race." Exactly who might legally challenge revenue sharing plans is not altogether clear. Nvidia and AMD are unlikely to dispute their own accords. And so far, challenges from rival chipmakers are unlikely, as there's no indication that other exporters would be subject to similar agreements. Potential challenges, however, could come from Nvidia and AMD shareholders and possibly from state attorneys general. Jacobson, the trade lawyer, said it's possible shareholders could argue that the profit-sharing agreements create an adverse effect on the price of the companies' shares because the businesses are subject to an unconstitutional tax that decreases their revenue. State attorneys general, on the other hand, may be able to argue that the deal impacts a company operating within their state or jeopardizes the state's revenue. For Nvidia and AMD, the agreements make sense as a short-term play, Jacobson said, even though they would likely be invalidated if challenged. By signing on to the agreements, the companies may be able to get their chips flowing to China and later deal with clawing back damages they may be entitled to. In an interview with Yahoo Finance, Pangaea Policy founder Terry Haines said the agreements may turn out to be a "one-off" for the administration due to concerns that the strategy could spread beyond Nvidia and AMD and because of China's concerns that US chips could contain "backdoors" that allow for US tracking. "The Chinese are saying they may not want the chips after all," Haines said. Alexis Keenan is a legal reporter for Yahoo Finance. Follow Alexis on X @alexiskweed. Click here for in-depth analysis of the latest stock market news and events moving stock prices Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Yahoo
16 minutes ago
- Yahoo
LiTime Day Launches Globally: 16 Years of Lithium Battery Expertise Building a Full-Scenario Energy Ecosystem
Three Breakthrough Products & Four Flagship Application Solutions at Limited-Time Discounts — Grand Celebration Begins August 11 Shenzhen, China, Aug. 11, 2025 (GLOBE NEWSWIRE) -- To celebrate '16 Years of LiFePO₄ Battery Expertise', LiTime will launch an 18-day brand festival from August 11-27 (PDT), featuring major annual discounts on all best-selling products. As a global pioneer in lithium iron phosphate (LiFePO₄) technology, LiTime continues to drive innovation through a user-first, tech-forward approach. With standout product lines like the Mini Series, Trolling Motor Series, and T5.0 Smart ComFlex Series, the company is redefining the boundaries of outdoor and residential energy, delivering a storage ecosystem that is safe, efficient, and intelligently extreme weather on the rise and outdoor power needs hitting record highs, renewable energy storage demand surged 32% year-over-year in 2024, according to data from the U.S. Department of Energy. As a result, high-efficiency storage solutions are no longer a luxury — they're a necessity. Today's market is increasingly shaped by two key trends: energy density and intelligent system integration. As a one-stop independent energy solution expert with 16 years of industry experience, LiTime has consistently focused on cutting-edge breakthroughs in LiFePO₄ technology and on addressing real user needs, building a smart energy storage ecosystem that covers all application scenarios. Armed with 70+ core patents, logistics coverage across 100+ countries, and a 40-warehouse global network, LiTime has already served more than 3.5 million users worldwide. The company backs its products with industry-leading support: a 30-day price guarantee, 7-day free returns, 5-year warranty, 24/7 expert service, and 2–5 day shipping — securing its position as the No.1 online lithium battery brand in RV and marine sectors across global markets. Over 3.5 Million Users Strong, LiTime Is Pioneering the Future of Sustainable Energy Since its founding, LiTime has been driven by a clear mission: MAKE ENERGY AFFORDABLE FOR EVERYONE. Today, LiTime's solutions power an extensive range of applications — from RV camping, marine, and golf carts to micromobility，off-grid, home energy storage, agricultural automation and security monitoring — helping to accelerate global adoption of renewable energy. 'Every product we design is based on genuine user feedback.' said the company's founder. |'From solving RV space limitations to building smart, connected energy systems, we design for real-world scenarios. That's how we've earned the trust of over 3.5 million users.'Continuing to grow its all-scenario energy ecosystem, LiTime remains true to its vision: 'Powering Outdoor Adventures for Generations.' LiTime Unveils Three Breakthroughs, Redefining the Limits of Lithium Power ■ Mini Series Breaks New Ground in Compact Energy Storage Back in 2019, LiTime introduced the 12V 100Ah Mini to solve a critical challenge: delivering reliable power in tight spaces like trailers and small cabins. Over the years, the company has relentlessly refined its approach to lightweight engineering and high energy density, resulting in advanced solutions like the 12V 320Ah Mini Smart Battery — a compact powerhouse with a gravimetric energy density 3.8 times greater than conventional Group 31 lead-acid models — and several other cutting-edge designs. Limited-Time LiTime Day Deal: 12V 320Ah Mini Smart Battery $699.99 (regularly $929.99), 24% OFF. ■ TM Series Secures Top Spot in Marine Power Solutions Engineered specifically for electric boats and fishing vessels, LiTime's Trolling Motor Series has earned a solid reputation among anglers and outdoor enthusiasts alike. With twice the runtime efficiency of comparable lead-acid batteries and outstanding corrosion protection, it delivers reliable, all-day power on the water. Fishing content creator FishingProTV put it to the test and was impressed:'Ran my trolling motor all day. Still 60% left!' LiTime Day Hot Deal: 12V 100Ah OBM Smart Battery $319.99 (regularly $399.99), 20% OFF. ■ T5.0 Smart ComFlex System Reimagines How Energy is Managed Developed in-house by LiTime, the T5.0 Smart ComFlex System is the first'Talking LiFePO4 Battery' designed for RV and marine energy use. It seamlessly integrates with third-party platforms like Victron, removing technical barriers and delivering true plug-and-play performance. With no complex configuration required, users can now: l Monitor battery health down to the cell level and optimize charging strategies in real time l Enjoy a plug-and-play setup with centralized control via a single screen l Enjoy affordable, intelligent connectivity with premium functionality Launch Price for LiTime Day: 12V 100Ah Smart ComFlex Battery $339.99 (regularly $429.99), 20% OFF. LiTime Expands Its All-Scenario Energy Ecosystem with Four Real-World SolutionsRVs: Travel Further with Reliable Power 12V 165Ah Smart Battery – $389.99 (Was $509.99), Save 23% LiTime specializes in end-to-end energy solutions for RV owners, offering everything from smart lithium batteries and 2000W pure sine wave inverters to high-efficiency MPPT controllers and a full range of charging accessories. Its complete, plug-and-play system — from storage to power delivery — has already supported more than 80,000 users on the road. At the center of this ecosystem is the all-new 12V 165Ah Smart Battery, a flagship model that delivers 2112Wh of power — a 65% increase in capacity within the standard Group 31 footprint — making it ideal for users demanding more energy without sacrificing All-Day Power for Every Cast 12V 100Ah TM Bluetooth Battery Bonus Deal (Aug. 18–30): Grab it at a surprise low of $254.99 (was $379.99) LiTime offers versatile battery solutions tailored to the needs of both recreational and professional boaters. From engine starting and trolling motors to fish finders and onboard power, its systems are built to support extended outings — making LiTime a top choice among anglers and sailors alike. The standout 12V 100Ah TM Bluetooth Battery is engineered for harsh marine conditions, with a peak output of 500A (1 second) that pairs perfectly with 30–70 lb thrust motors. It's also 83% lighter and 50% more compact than traditional lead-acid batteries, delivering a noticeable boost in speed and maneuverability on the Carts: Built to Conquer Every Terrain 48V 100Ah Bluetooth Battery Kit (Includes Bracket + Monitor) Bonus Deal (Aug. 12–30): Grab it at a surprise low of $999.99 (was $1,649.99) LiTime's golf cart power systems are built around three core values: energy efficiency, smart control, and modular design. The lineup includes GC2-style parallel battery packs and 51.2V 60Ah/100Ah lithium batteries, offering flexible solutions for a wide range of vehicle types. With CAN-enabled auto-parallel networking and support for centralized monitoring of up to 8 batteries via an external display, users can easily manage and shut down their entire system with one interface. Whether tackling rugged terrain or harsh weather, LiTime's system delivers stable, intelligent power in every Energy Storages: Power Through Any Outage 48V (51.2V) 100Ah ComFlex Edition Battery – $1,199.99 (Was $1,869.99), Save 35% As extreme weather events become more common across North America, LiTime has introduced a fully integrated off-grid home energy solution. Combining an inverter, MPPT charge controller, AC/DC charging modules, and a smart battery management system, the setup is designed to save space, reduce wiring complexity, and support four versatile charging modes — ensuring uninterrupted 24/7 power in any condition. At the heart of the system is the 48V 100Ah ComFlex Edition, a stackable lithium battery that supports up to 16 units in parallel. It works seamlessly with leading inverter brands like Victron, Growatt, and DEYE, delivering a flexible and future-proof energy backup for modern homes. LiTime Day Global Celebration :Limited-Time Deals & Exclusive Member RewardsTo celebrate 16 years of innovation and customer trust, LiTime Day is back — running from August 11–27, 2025 (PDT) — packed with exclusive perks, rewards, and surprises you won't want to miss! Ø Member-Only Rewards Turn points into instant savings: 1 point = 5% OFF sitewide Earn double points on all purchases during the event Score 500 bonus points by sharing the event page on Facebook Ø Limited-Time Deal Zone Unbeatable offers, updated throughout the event (offers cannot be combined) l 8% OFF all accessories l Tiered instant savings: • Spend $400 → Save 5% • Spend $800 → Save 6% • Spend $2000 → Save 8% Ø 100% Win Spin-the-Wheel Giveaway l Subscribe to the LiTime newsletter to get 1 spin + a 5% discount code l Win guaranteed prizes including discount coupons, free accessories, and more Ready to power up your gear and your savings? The LiTime Day celebration is on — and it's global. About LiTime LiTime is a premium brand specializing in lithium iron phosphate (LiFePO₄) battery technologies. With 16 years of expertise in the new energy storage industry, the company is committed to delivering safe, intelligent, and sustainable energy solutions to a global user base across RV, marine, solar, and off-grid applications. Guided by its brand philosophy, Life & Discovery, LiTime combines strong R&D capabilities, rigorous production standards, and top-tier service to meet evolving market needs. To date, LiTime's advanced battery technology has earned over 380 product certifications worldwide. By reducing the global carbon footprint and transforming the future of energy systems, LiTime is trusted by both professionals and adventurers to power tomorrow's clean energy journeys — Powering Outdoor Adventures for Generations. Learn More Company: LiTime USA/Germany/Japan Visit： Contact: marketing@ Subscribe: Crush Chen LiTime marketing at 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
San Francisco Chronicle
18 minutes ago
- San Francisco Chronicle
A huge new café wants to change the game for S.F. Korean food
The creators of a soaring new Korean café and gathering space in San Francisco hope to spur more momentum around Korean food culture in the Bay Area. Sohn will open Aug. 16 at 2535 3rd St. in Dogpatch, the former home of bagel shop Daily Driver. Deuki Hong, a prominent Korean-American chef who's run several restaurants and bakeries in the Bay Area, is a co-founder and operator, along with managing partner Janet Lee, a San Francisco native and founding partner of Hong's Sunday Family Hospitality Group. Sohn will be a café during the day and offer workshops and events in the evenings. A retail section is stocked with Korean-American goods, from instant coffee to soap, curated by Maum, a specialty store in New York City and Los Angeles. In the U.S., those two cities, and not San Francisco, have long been known for their strong Korean food scenes. That's shifted in recent years, however, with notable local arrivals including chef Corey Lee's Michelin-starred San Ho Won in San Francisco; tofu specialist Joodooboo in Oakland; multiple locations of kalbijjim specialist Daeho; and mega-popular Korean food complex Jagalchi in Daly City. 'It's always L.A. It's always New York,' Hong said. 'It's time the Bay Area starts playing a bigger conversation in where Korean food is going in America.' Sohn will serve casual Korean-inspired fare, like a rice bowl with soy-marinated soft boiled egg with Korean herbs and chili; jook (rice porridge); and a patty melt with Korean barbecue beef and kimchi slaw ($16). Thick slices of sourdough toast ($13), courtesy of the nearby Neighbor Bakehouse, which Hong also operates, will be topped with charred avocado, pickled jalapeños and onions and drizzled with gochugaru oil. A sweet toast incorporates ricotta and housemade strawberry cheong, a Korean fruit syrup. Preserved condiments like cheong and pickles will be made in a fermentation room on site. Korean café culture, which is slowly seeping into the Bay Area through trendy drinks like the einspänner, will be a focus. Sohn will brew specialty coffee roasted in partnership with Frank La of Be Bright Coffee in Los Angeles. Expect drinks like an espresso tonic with yuja (Korean citrus) and perilla. Korean staples inspired other creations, including housemade banana oat milk lattes, an homage to the boxes of banana milk Hong and Lee drank growing up, made with espresso, matcha or hojicha. Two drinks, a soda and matcha latte, channel the flavor of the beloved Melona brand ice cream bar. The former Daily Driver space is massive and industrial, with an upstairs mezzanine that looks down onto the open kitchen. Cathie Hong, a Korean-American interior designer in the Bay Area, revamped it to feel more like a cozy, chic home, with lime-washed walls, large Noguchi hanging paper lanterns, plants and lounge areas with couches. They added 12 seats to a front counter. The owners hope Sohn (derived from the Korean word for 'hand') will be a social third space, with rotating art installations and plans to host collaboration dinners and cooking classes. They're excited to be part of a wave of openings in Dogpatch, spurred in part by the major redevelopment of Pier 70. Hong, who was born in Korea and came to the U.S. at a young age, trained in Michelin-starred kitchens before opening a slew of Bay Area food businesses, including Sunday Bird, ice cream shop Sunday Social and a café at the Asian American Museum in San Francisco and Oakland's Sunday Bakeshop, all of which have since closed. Last year, he published his second cookbook, 'Koreaworld.' Sohn. Opening Aug. 16. 2535 3rd St., San Francisco.
