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Beijing reportedly mulling a new 'Made in China 2025' plan

Beijing reportedly mulling a new 'Made in China 2025' plan

Yahoo26-05-2025

Beijing is weighing a new version of Chinese leader Xi Jinping's 'Made in China 2025' campaign, a decadelong effort to make the country self-sufficient in technology, Bloomberg reported.
It comes as US President Donald Trump pushes businesses to shift production away from China, in a 'strategic decoupling' aimed at encouraging US manufacturing and supply chain resilience.
The new plan would likely focus on boosting chip-making equipment and other technologies amid Beijing's escalating war with Washington over access to semiconductors capable of powering advanced artificial intelligence.
China believes it can undercut America's monopoly over advanced AI by practically applying the technology to solve problems of economic growth, The Economist wrote.

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Trump signs measure blocking California's ban on new sales of gas-powered cars

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Trump signs measure blocking California's ban on new sales of gas-powered cars

WASHINGTON -- President Donald Trump signed a resolution on Thursday that blocks California's first-in-the-nation rule banning the sale of new gas-powered cars by 2035. The state quickly announced it was challenging the move in court, with California's attorney general holding a news conference to discuss the lawsuit before Trump's signing ceremony ended at the White House. The resolution was approved by Congress last month and aims to quash the country's most aggressive attempt to phase out gas-powered cars. Trump also signed measures to overturn state policies curbing tailpipe emissions in certain vehicles and smog-forming nitrogen oxide pollution from trucks. Trump called California's regulations 'crazy' at a White House ceremony where he signed the resolutions. 'It's been a disaster for this country,' he said. It comes as the Republican president is mired in a clash with California's Democratic governor, Gavin Newsom, over Trump's move to deploy troops to Los Angeles in response to immigration protests. It's the latest in an ongoing battle between the Trump administration and heavily Democratic California over issues including tariffs, the rights of LGBTQ+ youth and funding for electric vehicle chargers. The state is already involved in more than two-dozen lawsuits challenging Trump administration actions, and the state's Democratic Attorney General Rob Bonta announced the latest one at a news conference in California. Ten other states, all with Democratic attorneys general, joined the lawsuit filed Thursday. 'The federal government's actions are not only unlawful; they're irrational and wildly partisan,' Bonta said. 'They come at the direct expense of the health and the well-being of our people.' The three resolutions Trump signed will block California's rule phasing out gas-powered cars and end the sale of new ones by 2035. They will also kill rules that phase out the sale of medium- and heavy-duty diesel vehicles and cut tailpipe emissions from trucks. In his remarks at the White House, Trump expressed doubts about the performance and reliability of electric vehicles, though he had some notably positive comments about the company owned by Elon Musk, despite their fractured relationship. 'I like Tesla,' Trump said. In remarks that often meandered away from the subject at hand, Trump used the East Room ceremony to also muse on windmills, which he claimed 'are killing our country,' the prospect of getting electrocuted by an electric-powered boat if it sank and whether he'd risk a shark attack by jumping as the boat went down. 'I'll take electrocution every single day," the president said. When it comes to cars, Trump said he likes combustion engines but for those that prefer otherwise, 'If you want to buy electric, you can buy electric.' 'What this does is it gives us freedom,' said Bill Kent, the owner of Kent Kwik convenience stores. Kent, speaking at the White House, said that the California rules would have forced him to install 'infrastructure that frankly, is extremely expensive and doesn't give you any return.' The Alliance for Automotive Innovation, which represents major car makers, applauded Trump's action. 'Everyone agreed these EV sales mandates were never achievable and wildly unrealistic,' John Bozzella, the group's president and CEO, said in a statement. Newsom, who is considered a likely 2028 Democratic presidential candidate, and California officials contend that what the federal government is doing is illegal and said the state plans to sue. Newsom said Trump's action was a continuation of his 'all-out assault' on California. 'And this time he's destroying our clean air and America's global competitiveness in the process,' Newsom said in a statement. 'We are suing to stop this latest illegal action by a President who is a wholly-owned subsidiary of big polluters.' The signings come as Trump has pledged to revive American auto manufacturing and boost oil and gas drilling. The move follows other steps the Trump administration has taken to roll back rules that aim to protect air and water and reduce emissions that cause climate change. The Environmental Protection Agency on Wednesday proposed repealing rules that limit greenhouse gas emissions from power plants fueled by coal and natural gas. Dan Becker with the Center for Biological Diversity, said the signing of the resolutions was 'Trump's latest betrayal of democracy.' 'Signing this bill is a flagrant abuse of the law to reward Big Oil and Big Auto corporations at the expense of everyday people's health and their wallets,' Becker said in a statement. 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About a dozen states signed on to adopt California's rule phasing out the sale of new gas-powered cars.

America's Chip Crackdown Just Handed China a $8B AI Opportunity
America's Chip Crackdown Just Handed China a $8B AI Opportunity

Yahoo

timean hour ago

  • Yahoo

America's Chip Crackdown Just Handed China a $8B AI Opportunity

Arm (NASDAQ:ARM) CEO Rene Haas is joining a growing chorus of semiconductor leaders warning that U.S. export restrictions on China could backfirehurting not just American chipmakers, but consumers and the entire pace of global innovation. Speaking at the Founders Forum Global in Oxford, Haas said that forcing China to build alternative ecosystems doesn't just isolate themit shrinks the market opportunity for everyone. It makes the pie smaller, he said, adding that Arm's own exposure to China is quite significant. His view echoes recent remarks from Nvidia (NASDAQ:NVDA) CEO Jensen Huang, who has been increasingly vocal about the consequences of these export bans. Warning! GuruFocus has detected 3 Warning Signs with ARM. Nvidia is already seeing the fallout. The company expects to lose around $8 billion in Chinese revenue this quarter alone after the U.S. tightened curbs on data center chip exports. Huang said in an April interview that Chinese AI firms are stepping in fast to fill the gap. The Chinese competitors have evolved, he noted, calling Huawei a formidable player. With Nvidia no longer selling its top AI chips to China, homegrown rivals are gaining momentum. While Arm and Nvidia once explored a merger, they now compete head-to-head in high-performance computing, with Arm claiming a unique edge across both large-scale data centers and low-power edge devices like earbuds. Despite the escalating rhetoric, there may be a thaw underway. Washington and Beijing just concluded a new round of trade negotiations, and Donald Trump declared a deal was DONE to restore rare metal exports from China. U.S. Commerce Secretary Howard Lutnick added that some tech curbs could be rolled back in return. Behind the scenes, Haas said his time in Washington has surged in the past 18 months, as Arm works to ensure policymakers understand what's at stake. The current administration has a lot of smart people connected to our industry, he said, signaling a willingness to engagebut also a growing urgency to shift course. This article first appeared on GuruFocus. 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

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