Trump says US interest rates should be at least two to three points lower
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South China Morning Post
31 minutes ago
- South China Morning Post
Hard to switch: why US farmers are embracing Chinese drones despite concerns
When David Bruntz, vice-president of the US Meat Export Federation, recently began looking for drones to monitor the cattle on his Nebraska ranch, he found that only one brand offered a 'reasonably priced' solution: the Chinese tech giant DJI. The Shenzhen-based company already dominates the US drone market, and its products are now rapidly being adopted across the agricultural sector as the firm rolls out specialised solutions for sowing fields, spraying crops and tracking livestock. 'It's moving rather fast,' Bruntz said. Like many farmers in the state, Bruntz is not thrilled to be relying on Chinese technology. He worries about the potential for supply chain disruptions of the kind that occurred during the Covid-19 pandemic, when 'we couldn't get enough chips to put in our vehicles and things like that'. But for now, he feels he has little other choice. The Chinese systems are not only far cheaper than American-made alternatives on the market; they often also have more advanced capabilities. 'They definitely have the advantage in a lot of technical areas,' he said. 'The remedy would be to develop our own products in the US.'
South China Morning Post
3 hours ago
- South China Morning Post
France, Germany, UK to host Ukraine allies conference ahead of Trump-Zelensky meeting
European allies are due to meet amid reports that US President Donald Trump favours a Russian land grab in Ukraine to end the war. Advertisement Britain's Prime Minister Keir Starmer, French President Emmanuel Macron and German Chancellor Friedrich Merz will host the meeting on Sunday afternoon. The video conference of allies who plan to keep the peace in Ukraine comes ahead of Ukrainian President Volodymyr Zelensky's White House meeting with Trump on Monday. The leaders of Britain, France and Germany will host a video call involving Kyiv's allies in a 'coalition of the willing' to discuss steps towards peace in Ukraine, the French presidency said. The meeting will come a day before Ukrainian President Volodymyr Zelensky travels to Washington, following a US-Russia summit, the Élysée said on Saturday. US President Donald Trump shakes hand with Russian President Vladimir Putin in Alaska on Friday. Photo: Reuters The one-to-one meeting in the Oval Office could pave the way for a three-way meeting alongside Russian President Vladimir Putin, the US president has said.
South China Morning Post
4 hours ago
- South China Morning Post
Trump's ‘pay-to-play' trade policy sets a dangerous precedent
Any lingering doubts about the extent to which US President Donald Trump has rewritten the rules of global trade should have been laid to rest with reports that chip giants Nvidia and AMD have agreed to pay the US government 15 per cent of the revenue from chip sales in China. The payments are a quid pro quo for approval of the export licences needed to sell semiconductors critical to China's artificial intelligence (AI) ambitions. The previously stalled licences were approved by the Commerce Department on August 8. As the US-China geostrategic rivalry has intensified in recent years, both Democratic and Republican administrations in Washington have tightened restrictions on the sale of sophisticated technologies to China. The export controls on Nvidia's H20 and AMD's MI308 chips were put in place earlier this year in response to US concerns that the chips would find their way into Chinese military applications and give Beijing a leg up in the race for AI superiority. This unprecedented arrangement with Nvidia and AMD does something which until now would have been considered incomprehensible. It monetises US trade policy. Companies are essentially paying the US government for approval to export their products.
