
Trump to Rescind Global Chip Curbs Amid AI Restrictions Debate
The Trump administration plans to rescind Biden-era AI chip curbs as part of a broader effort to revise semiconductor trade restrictions that have drawn strong opposition from major tech companies and foreign governments, according to people familiar with the matter.
The repeal, which is not yet final, seeks to refashion a policy launched under President Joe Biden that created three broad tiers of countries for regulating the export of chips from Nvidia Corp. and others. The Trump administration will not enforce the so-called AI diffusion rule when it takes effect on May 15, the people said.
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15 minutes ago
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Tesla asked to delay robotaxi launch by Democratic Texas lawmakers
By Chris Kirkham (Reuters) -A group of Democratic Texas lawmakers has asked Tesla to delay its much-anticipated robotaxi launch in Austin until September, when a new autonomous-driving law is scheduled to take effect. The group of Austin-area lawmakers said in the letter sent on Wednesday that delaying the launch, which CEO Elon Musk said could "tentatively" happen this Sunday, "is in the best interest of both public safety and building public trust in Tesla's operations." If Tesla decides to move forward with a launch this month, the lawmakers asked that Tesla respond with "detailed information" demonstrating how Tesla will comply with the new state law when it launches. Musk last year staked Tesla's future on autonomous-driving technology as it pivoted away from chasing rapid growth in electric-vehicle sales. Tesla did not immediately respond to a request for comment on the letter. It is unclear how much weight a letter from Democratic lawmakers will carry in a state where Republicans hold the governorship and majorities in both legislative chambers. Musk announced in January that Tesla would be offering "autonomous ride-hailing for money in Austin, in June," and since then the Austin rollout has been closely watched by investors and analysts - many of whom attribute the majority of Tesla's stock market value to hopes for robotaxis and humanoid robots the company has yet to deliver. Current Texas law allows autonomous-vehicle firms to operate their vehicles anywhere in Texas, as long as the vehicles meet basic registration and insurance requirements. The new legislation, which passed the Texas legislature last month and has not been signed by the governor, would for the first time require autonomous-vehicle companies to apply for authorization to operate in the state. It would give state authorities the power to revoke permits if they deem a driverless vehicle "endangers the public." Firms are also required to provide the state information on how police and first responders can deal with the vehicles in emergency situations. Musk and Tesla have given few details about their plans for the Austin robotaxi launch. The CEO has said the Austin rollout would begin with 10 or 20 Model Y vehicles, and that the company will begin operating in 'only the parts of Austin that we consider to be the safest.' Musk and Tesla have not said who the passengers will be, how Tesla will charge for rides, where in Austin they will operate or how extensive remote monitoring and operation of the vehicles will be.


Bloomberg
17 minutes ago
- Bloomberg
Fed Stays the Course as Divisions Creep In
US Federal Reserve officials continued to pencil in two interest-rate cuts in 2025, though new projections showed a growing divide among policymakers over the trajectory for borrowing costs as the shockwaves from Donald Trump's tariffs make their way through the US economy. Seven officials now foresee no rate cuts this year, compared with four in March, and two others pointed to one cut. At the same time, 10 officials expect it will be appropriate to lower rates at least twice before the end of 2025. Fed officials and economists broadly expect the president's expanded use of tariffs—most of which are the subject of litigation as potentially illegal—to weigh on economic activity and put upward pressure on prices if they remain in place. Add to that a proposed bill in Congress that could add $3.4 trillion to the national debt, and nervousness in the near term is likely to remain.


CBS News
18 minutes ago
- CBS News
Immigration arrest turns violent in Bloomington, suspect now facing federal charges
Federal prosecutors say an escape attempt during an ICE arrest in the Twin Cities is leading to even more charges. According to a federal complaint charging him with assault on a federal officer, agents were executing a federal immigration warrant for 39-year-old Roberto Carlos Munoz, who they say is in the country unlawfully. Munoz was convicted of fourth-degree criminal sexual conduct in 2023. The Department of Justice says a request for Munoz to be held after his 2022 arrest was "not honored by local authorities and Munoz was released." Agents located Munoz on Tuesday morning, leaving his home. According to the complaint, that's when an FBI agent activated his emergency lights, but Munoz did not immediately pull over. Surveillance video from a nearby home shows agents boxing in Munoz and approaching the vehicle. Court documents say he refused to comply before a federal agent "took out his spring-loaded window punch with his right hand and broke the driver's side rear window." Moments later, Munoz turned the wheel to the right to avoid the vehicle in front of him, drove up on the curb and accelerated away at a high rate of speed. The officer's right arm was caught in the vehicle. As Munoz fled, the officer was dragged along for 300 feet. Officials say the agent suffered significant cuts that resulted in more than 30 stitches. Bloomington police took Munoz into custody. Now, a top homeland security official is criticizing Gov. Tim Walz Posting on X, "Instead of comparing ICE law enforcement to the Gestapo, Walz should be thanking our brave law enforcement." In a statement earlier this month, a spokesperson for the Hennepin County Sheriff's Office explained they are not involved in civil immigration enforcement. Over in Bloomington, police chief Booker Hodges was unavailable for an interview, but we're told he's recorded a video where he will speak about local and federal law enforcement.