Japan and China trade blame over Chinese fighter jets flying close to Japanese planes
The Chinese fighter jets took off from one of two Chinese aircraft carriers that were operating together for the first time in the Pacific, Japan's Defense Ministry said.
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Fox News
24 minutes ago
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'OUT OF BODY EXPERIENCE': Stephen Moore Describes His Experience Presenting Economic Data With Trump
Stephen Moore, Distinguished Fellow in Economics at the Heritage Foundation, founder of Club for Growth, Writer for the WSJ, and author of 'The Trump Economic Miracle: And the Plan to Unleash Prosperity Again,' joined the Guy Benson Show today with Pete Mundo to discuss his experience presenting economic data with President Trump in the White House. Moore described the experience as 'surreal,' and he shared a funny encounter he had with Trump while at 1600 Pennsylvania Avenue. Moore also projected future economic deals and ways of handling a 'dangerous' China economically, and you can listen to the full interview below. Listen to the full interview below: Listen to the full podcast below:
Yahoo
39 minutes ago
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Trump's Deal With Nvidia Offers Path Forward in Global Trade War
(Bloomberg) -- President Donald Trump's controversial plan to take a cut of revenue from chip sales to China has US companies reconsidering their plans for business with the country, offering a model for circumventing years of trade tensions. Experts and people familiar with the matter said the surprise deal, in which Nvidia Corp. and Advanced Micro Devices Inc. agreed to pay 15% of their revenues from Chinese AI chip sales to the US, provides a path to enter the Chinese market despite severe export controls, tariffs and other trade barriers. Sunseeking Germans Face Swiss Backlash Over Alpine Holiday Congestion The US-Canadian Road Safety Gap Is Getting Wider To Head Off Severe Storm Surges, Nova Scotia Invests in 'Living Shorelines' Five Years After Black Lives Matter, Brussels' Colonial Statues Remain For Homeless Cyclists, Bikes Bring an Escape From the Streets The question that companies must now confront is whether the risk is worth taking. People familiar with the matter, who asked not to be identified discussing private deliberations, said companies are struggling to figure out what the president's order means for their future, especially given the unpredictable nature of Trump's decision-making. 'This is truly bizarre and unusual, and the troubling thing — beyond the individual instances of AMD and Nvidia — is the possibility that this will be expanded,' said Gary Hufbauer, a senior fellow at the Peterson Institute for International Economics. 'Everything is now 'national security,' according to the new definition, which means it's all subject to export licenses and then they give you a license based on your contribution.' There are concerns that US trade agencies could begin charging fees to companies every time there's a meeting to discuss tariffs, according to people familiar with the matter who asked not to be identified discussing private deliberations. Trump administration officials defend the idea as a smart way to generate revenue for the US government and suggest it will extend well beyond the chips sector. 'I think we could see it in other industries over time,' Treasury Secretary Scott Bessent said in an interview with Bloomberg Television on Wednesday. 'I think right now this is unique, but now that we have the model and the beta tests, why not expand it?' Bessent defended the deal and rejected any national-security concerns around the decision to sell Nvidia's H20 chip to China — something that had been earlier barred for fear of giving China a boost in the artificial-intelligence race. 'There are no national security concerns here,' Bessent said. 'We would not sell any of the advanced chips. So, the H20, I don't know whether you'd say they're four, five, six levels down the chips stack.' Either way, the deal highlights how Trump has pushed to open a wave of new revenue streams including by taking ownership shares of companies or extracting higher fees to live or work in the US. The US is weighing sales of a so-called 'gold card' residency permit, it won a 'golden share' to have direct say over corporate actions by United States Steel Corp., and it's secured investment pledges and potential revenue-sharing in country-level tariff talks. That's aside from the barrage of product tariffs that have at times left massive dislocations in globally traded markets. The matter further surprised China hawks in Congress, who have been unimpressed by the administration's reassurances. Rep. John Moolenaar, the Michigan Republican who chairs the US House Select Committee on China, questioned the legal basis for the move and suggested it does an end-run around controls put in place to limit the sale of sensitive technology to US adversaries. 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Gizmodo
an hour ago
- Gizmodo
U.S. Allegedly Super-Charged Its Efforts to Prevent China From Getting American Chips
The Trump administration has made curbing China's access to high-powered AI chips a high priority. According to the government, China may use the chips to build up its arsenal of military technology, and it simply can't have that. At the same time, America's considerable and longstanding chip export controls may also be aimed at slowing China's own chip industry. Now, a report from Reuters claims that the government has been embedding location tracking devices in AI chip shipments, in an effort to police potential diversions of the tech to America's geopolitical foe. Reuters reports that sources with knowledge of the policy claim that the U.S. Department of Commerce's Bureau of Industry and Security, America's export enforcement agency, is 'typically involved' with such operations. Those same sources claim that the FBI and Homeland Security Investigations 'may take part too.' Gizmodo reached out to the agencies and the Trump administration for comment. The tracking devices are reportedly being placed in 'targeted shipments' of AI chips. Those shipments are being chosen because authorities view them as being at 'high risk of illegal diversion to China.' The point of the trackers is to punish companies or individuals who may violate U.S. export controls. Sources also said that the trackers have been used in server shipments from prominent manufacturers, including Dell and Super Micro, which include chips made by AMD and Nvidia. An Nvidia spokesperson told Gizmodo, 'We don't install secret tracking devices in our products,' full stop. They also referred us to a recently published company blog that states: 'There are no back doors in NVIDIA chips. No kill switches. No spyware. That's not how trustworthy systems are built — and never will be.' The 'chip war' has, to some degree, always been a thing, and governments, particularly the U.S., have always fought for a competitive advantage when it comes to the semiconductor industry. The advent of the AI chip has only upped the ante, as nations fight for dominance over the emerging field of generative AI, and all the potential applications (military included) it may have. At the same time, the Trump administration has sent mixed messages on this issue, as Trump recently claimed he would be open to allowing Nvidia to sell a 'scaled-down' version of its GPU chip to China. The American practice of embedding hidden, Trojan-horse-style surveillance applications inside commercial hardware and software exports is also not new. When the Edward Snowden revelations originally broke in 2014, one of the bombshells at the time was the apparent revelation that the NSA routinely embeds 'backdoor surveillance tools' inside routers and other computer hardware before they are sent on to foreign nations.
