Investment company Morrison's secret link to OpenAI's Project Stargate
Morrison, the firm that owns Infratil, acquired an American underground fibre cable company called FiberLight in 2022,
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1News
5 hours ago
- 1News
Trump reveals 25% tariff on India, unspecified penalties for buying Russian oil
The United States will impose a 25% tariff on goods from India, plus an additional import tax because of India's purchasing of Russian oil, President Donald Trump said today. India 'is our friend,' Trump said on his Truth Social platform, but its tariffs on US products 'are far too high'. The Republican president added India buys military equipment and oil from Russia, enabling Moscow's war in Ukraine. As a result, he intends to charge an additional 'penalty' starting on Friday (local time) as part of the launch of his administration's revised tariffs on multiple countries. Trump told reporters today the two countries were still in the middle of negotiations on trade despite the tariffs slated to begin in a few days. 'We're talking to India now," the president said. "We'll see what happens.' ADVERTISEMENT The Indian government said today it's studying the implications of Trump's tariffs announcement. India and the US have been engaged in negotiations on concluding a 'fair, balanced and mutually beneficial' bilateral trade agreement over the last few months, and New Delhi remains committed to that objective, India's Trade Ministry said in a statement. Trump today signed separate orders to tax imports of copper at 50% and justify his 50% tariffs on Brazil due to their criminal prosecution of former President Jair Bolsonaro and treatment of US social media companies. Trump also signed an order saying that government now had the systems in place to close the tariff loophole on 'de minimis' shipments, which had enabled goods priced under $800 (NZ$1355) to enter America duty-free, largely from China. Trump also said on Truth Social that he was meeting today with a trade delegation from South Korea, which currently faces 25% tariffs starting on Friday (local time). He also said the US has reached a deal with Pakistan that includes the development of its oil reserves. Meanwhile, Treasury Secretary Scott Bessent was briefing him on trade talks with China. Trump's view on tariffs Trump's announcement comes after a slew of negotiated trade frameworks with the European Union, Japan, the Philippines and Indonesia — all of which he said would open markets for American goods while enabling the US to raise tax rates on imports. The president views tariff revenues as a way to help offset the budget deficit increases tied to his recent income tax cuts and generate more domestic factory jobs. While Trump has effectively wielded tariffs as a cudgel to reset the terms of trade, the economic impact is uncertain as most economists expect a slowdown in US growth and greater inflationary pressures as some of the costs of the taxes are passed along to domestic businesses and consumers. ADVERTISEMENT There's also the possibility of more tariffs coming on trade partners with Russia as well as on pharmaceutical drugs and computer chips. Kevin Hassett, director of the White House National Economic Council, said Trump and US Trade Representative Jamieson Greer would announce the Russia-related tariff rates on India at a later date. Tariffs face European pushback The morning's headlines in 90 seconds, including tsunami threat remains for NZ and quake sparks Russian volcanic eruption, plus the pop star and the politician spotted having dinner. (Source: 1News) Trump's approach of putting a 15% tariff on America's long-standing allies in the EU is also generating pushback, possibly causing European partners as well as Canada to seek alternatives to US leadership on the world stage. French President Emmanuel Macron said today in the aftermath of the trade framework that Europe 'does not see itself sufficiently' as a global power, saying in a cabinet meeting that negotiations with the US will continue as the agreement gets formalised. ADVERTISEMENT 'To be free, you have to be feared,' Macron said. 'We have not been feared enough. There is a greater urgency than ever to accelerate the European agenda for sovereignty and competitiveness.' Seeking a deeper partnership with India Washington has long sought to develop a deeper partnership with New Delhi, which is seen as a bulwark against China. Indian Prime Minister Narendra Modi has established a good working relationship with Trump, and the two leaders are likely to further boost cooperation between their countries. When Trump in February met with Modi, the US president said that India would start buying American oil and natural gas. The new tariffs on India could complicate its goal of doubling bilateral trade with the US to $500 billion (NZ$847.3 billion) by 2030. The two countries have had five rounds of negotiations for a bilateral trade agreement. While US has been seeking greater market access and zero tariff on almost all its exports, India has expressed reservations on throwing open sectors such as agriculture and dairy, which employ a bulk of the country's population for livelihood, Indian officials said. The Census Bureau reported that the US ran a $45.8 billion (NZ$77.6 billion) trade imbalance in goods with India last year, meaning it imported more than it exported. At a population exceeding 1.4 billion people, India is the world's largest country and a possible geopolitical counterbalance to China. India and Russia have close relations, and New Delhi has not supported Western sanctions on Moscow over its war in Ukraine. The new tariffs could put India at a disadvantage in the US market relative to Vietnam, Bangladesh and, possibly, China, said Ajay Sahai, director general of the Federation of Indian Export Organisations. 'We are back to square one as Trump hasn't spelled out what the penalties would be in addition to the tariff,' Sahai said. 'The demand for Indian goods is bound to be hit.'
Scoop
6 hours ago
- Scoop
Statement On AI In Universities From Aotearoa Communication & Media Scholars Network
We speak as a network of Aotearoa academics working in the inter-disciplines of Communication and Media Studies across our universities. Among us we have shared expertise in the political, social and economic impacts of commercially distributed and circulated generative artificial intelligence ('AI') in our university workplaces. While there is a tendency in our universities to be resigned to AI as an unstoppable and unquestionable technological force, our aim is to level the playing field to promote open critical and democratic debate. With this in mind, we make the following points: For universities… · AI is not an inevitable technological development which must be incorporated into higher education; rather it is the result of particular techno-capitalist ventures, a context which needs to be recognised and considered; · AI, as a corporate product of private companies such as OpenAI, Google, etc., encroaches on the public role of the university and its role as critic and conscience, and marginalises voices which might critique business interests; For researchers… · AI impedes rather than supports productive intellectual work because it erodes important critical thinking skills; instead, it devolves human scholarly work and critical engagement with ideas–elements vital to our cultural and social life–to software that produces 'ready-made', formulaic and backward looking 'results' that do not advance knowledge; · AI promotes an unethical, reckless approach to research which can promote 'hallucinations' and over valorise disruption for its own sake rather than support quality research; · AI normalises industrial scale theft of intellectual property as our written work is fed into AI datasets largely without citation or compensation; · AI limits the productivity of academic staff by requiring them to invent new forms of assessment which subvert AI, police students and their use of AI, or assess lengthy 'chat logs', rather than engage with students in activities and assessments that require deep, critical thinking and sharing, questioning and articulating ideas with peers; For students… · AI tools create anxiety for students; some are falsely-accused of using generative-AI when they haven't, or are very stressed that it could happen to them; · AI tools such as ChatGPT are contributing to mental-health crises and delusions in various ways; promoting the use of generative-AI in academic contexts is thus unethical, particularly when considering students and the role of universities in pastoral care; · AI thus undermines the fundamental relationships between teacher and student, academics and administration, and the university and the community by fostering an environment of distrust; For Aotearoa New Zealand… · AI clashes with Te Tiriti obligations around data sovereignty and threatens the possibility of data colonialism regarding te reo itself; · AI is devastating for the environment in terms of energy and water use and the extraction of natural resources needed for the processors that AI requires. Signed by: Rosemary Overell, Senior Lecturer, Media, Film & Communications Programme, The University of Otago Olivier Jutel, Lecturer, Media, Film & Communications Programme, The University of Otago Emma Tennent, Senior Lecturer, Media & Communication, Te Herenga Waka Victoria University of Wellington Rachel Billington, Lecturer, Media, Film & Communications Programme, The University of Otago Brett Nicholls, Senior Lecturer, Media, Film & Communications Programme, The University of Otago Yuki Watanabe, Lecturer, Media, Film & Communications Programme, The University of Otago Sy Taffel, Senior Lecturer, Media Studies Programme, Massey University Leon Salter, Senior Lecturer, Communications Programme, University of Auckland Angela Feekery, Senior Lecturer, Communications Programme, Massey University Ian Huffer, Senior Lecturer, Media Studies Programme, Massey University Pansy Duncan, Senior Lecturer, Media Studies Programme, Massey University Kevin Veale, Senior Lecturer, Media Studies Programme, Massey University Peter A. Thompson, Associate Professor, Media & Communication Programme, Te Herenga Waka/Victoria University of Wellington Nicholas Holm, Associate Professor, Media Studies Programme, Massey University Sean Phelan, Associate Professor, Massey University Yuan Gong, Senior Lecturer, Media Studies Programme, Massey University Chris McMillan, Teaching Fellow, Sociology Programme, University of Auckland Cherie Lacey, Researcher, Centre for Addiction Research, University of Auckland Thierry Jutel, Associate Professor, Film, Te Herenga Waka, Victoria University of Wellington Max Soar, Teaching Fellow, Political Communication, Te Herenga Waka Victoria University of Wellington Lewis Rarm, Lecturer, Media and Communication, Te Herenga Waka | Victoria University of Wellington Tim Groves, Senior Lecturer, Film. Te Herenga Waka, Victoria University of Wellington Valerie Cooper, Lecturer, Media and Communication, Te Herenga Waka | Victoria University of Wellington Wayne Hope, Professor, Faculty of Design & Creative Technologies, Auckland University of Technology Greg Treadwell, senior lecturer in journalism, School of Communication Studies, Auckland University of Technology Christina Vogels, Senior Lecturer, Critical Media Studies, School of Communication Studies, Auckland University of Technology
1News
8 hours ago
- 1News
How the world's US trade partners reacted to Trump's new tariffs
US trade partners around the world were reacting today to President Donald Trump's executive order that would introduce new tariffs on many of them in seven days — as the global economy and alliances face a fresh test from the president's trade agenda. Trump's order was issued today after a flurry of tariff-related activity in recent days, as the White House announced agreements with various nations and blocs ahead of Trump's self-imposed August 1 deadline. Trump also said he would be extending trade negotiations with Mexico for 90 days. But the vast majority of nations are continuing to face uncertainty ahead of the coming deadline. And while a handful of trade deals have trickled in, many details remain hazy — with businesses and manufacturers around the world bracing for heightened operating costs and potential price hikes regardless. The executive order table of latest tariffs on countries trading with the US, July 31. (Source: White House) Meanwhile, Trump's overhaul of American trade policy hasn't gone unchallenged. Appellate court judges have expressed broad scepticism around Trump's legal rationale for his most expansive round of tariffs. ADVERTISEMENT Trump orders 35% tariff on Canada, citing illicit drug trade Trump has raised the tariff rate on US imports from Canada to 35% from 25%, effective next Friday. The announcement from the White House said Canada had failed 'to do more to arrest, seize, detain, or otherwise intercept drug trafficking organisations, other drug or human traffickers, criminals at large, and illicit drugs". Trump earlier had threatened to impose the higher tariff on Canada if no deal was reached by today, his deadline for reaching trade agreements with dozens of countries. Canada was not included in Trump's updated list of tariff rates on other countries announced today. Those import duties are due to take effect on August 7. Malaysia hails 'significant achievement' in 19% tariff Malaysia's Trade Ministry said today that the US tariff reduction from 25% to 19% was a 'significant achievement' as the deal was struck without compromising key national interests. ADVERTISEMENT 'The 19% rate roughly tracks the rate of other countries in the Southeast Asian region,' the ministry said in a statement. 'Most importantly, Malaysia had stood firm on various 'red line' items, and the 19% tariff rate was achieved without compromising the nation's sovereign right to implement key policies to support the nation's socio-economic stability and growth.' The ministry said that Malaysia's economy remains resilient despite global headwinds, citing strong domestic demand and ongoing structural reforms. The statement didn't give further details but officials previously said non-tariff barriers such as halal certification, which affects US beef and poultry exports, along with digital trade and government procurement were sticky points. It's unclear what concessions Malaysia made. Cambodia hit with 19%, says thank you to Trump US President Donald Trump holds up a chart while speaking during a 'Make America Wealthy Again' trade announcement event in the Rose Garden at the White House on April 2, 2025 in Washington, DC. (Source: Getty) Cambodia's Deputy Prime Minister Sun Chanthol, who led his nation's trade talks with the US, thanked Trump for setting the tariff rate on Cambodian goods at 19% and said his country will impose zero tariffs on all American goods. When Washington originally posted its list of notional 'reciprocal' tariffs, the rate for goods from Cambodia was 49%, one of the highest in the world. It had estimated that Cambodian tariffs on US imports averaged 97%. ADVERTISEMENT Sun Chanthol also said Cambodia would purchase 10 passenger aircraft from Boeing in a deal they hoped to sign later this month. Several other nations had already announced similar aircraft purchase deals as part of their trade packages. Trump had threatened to not conclude a deal with reduced tariffs if Cambodia and Thailand did not stop a recent armed conflict over border territory. The two nations agreed on a ceasefire beginning Wednesday that appears to be holding. Cambodia publicly celebrated Trump's peace initiative, suggesting he deserved a Nobel Prize for his intervention. Sun Chanthol said today that Cambodia would nominate him for the honour. Prime Minister Hun Manet expressed his thanks to Trump for the dropping of tariffs from 36% to 19% and he called the reduction 'good news' for Cambodia. Posted on his social media platform, Hun Manet said Trump had not only helped broker a ceasefire between Cambodia and Thailand forces after nearly a weeklong clash but also helped Cambodia's economy by lowering tariffs. 'This is good news for the people and economy of Cambodia to continue developing the country,' Hun Manet said. Australia's 10% is vindication of 'cool and calm negotiations' ADVERTISEMENT Australian Trade Minister Don Farrell says gaining the minimum US tariff on exports including beef, lamb, wine and wheat gave Australia a competitive advantage over some competitors. Farrell told reporters Australia did not introduce tariffs on US goods at any point, and added, 'I haven't seen any case or any example where the retaliatory imposition of tariffs has resulted in a country being in a better position." Farrell argues that no US tariffs can be justified because Australia imposes no tariffs on its bilateral free trade partner. The United States has enjoyed a trade surplus with Australia for decades. Australian Prime Minister Anthony Albanese has been criticised for failing to secure a face-to-face meeting with Trump to discuss trade. Japan welcomes 15% as an ease in uncertainty Japanese Chief Cabinet Secretary Yoshimasa Hayashi welcomed Trump's signing of the executive order setting Japan's new reciprocal tariffs as a step that would reduce uncertainty of the US trade policy and its negative impact on the global economy, including that of Japan. Hayashi, however, said Japan still needs to closely examine the measures and continue urging prompt implementation by the US government to carry out the agreement, including reduction of tariffs on automobiles and auto parts. ADVERTISEMENT Hayashi acknowledged that Japan's new tariff rate of 15% is a 'major reduction' from the initially imposed 25%, but his government will continue to watch and mitigate its impact on Japanese exports, including by providing financial assistance for small and medium-sized businesses. New Zealand looks to lobby for lower tariff rates US President signs an executive order for new tariffs on a wide swath of US trading partners to go into effect in seven days. (Source: 1News) New Zealand officials said they would lobby the administration for a change to the 15% tariff announced for the country's exporters to the US. It's an increase from the original 10% baseline announced for New Zealand in April. 'We don't think this is a good thing. We don't think it's warranted,' Trade Minister Todd McClay told RNZ today. He said New Zealand appeared to have been targeted for a larger levy because the country records a trade deficit with the US but that the gap of about half a billion dollars each year was 'not significant or meaningful'. Neighbouring Australia dodged an increase to remain at 10%, but it records a trade surplus with the US, McClay added. The United States in January overtook Australia to become New Zealand's second-largest export partner, behind China. New Zealand exports are largely made up of meat, dairy, wine and agricultural machinery. ADVERTISEMENT Taiwan president says final negotiations to come after 20% tariff Taiwan President Lai Ching-te said Taiwan had yet to engage in final negotiations with the US owing to scheduling difficulties and that he was hopeful the final tariff rate would be reduced even further after a final round of talks. The Trump administration hit Taiwan with 32% tariffs, and lowered it to 20%. Taiwan was notified yesterday by the administration of the lower rate. 'Twenty per cent from the beginning has not been our goal. We hope that in further negotiations we will get a more beneficial and more reasonable tax rate,' he told reporters in Taipei today. Lai also linked trade talks to security issues, as the US is Taiwan's largest ally even though it does not formally recognise the island. 'We want to strengthen US-Taiwan cooperation in national security, tech, and multiple areas,' he said. The US is Taiwan's most important export market and strategic ally, Lai said in an earlier statement this morning. Thailand successfully negotiates lower tariff of 19% ADVERTISEMENT Thailand's government spokesperson Jirayu Houngsub said Thailand says the US agreed to reduce the tariffs rate from 36% to 19%, a rate similar to those imposed on many other Southeast Asian countries such as Vietnam and the Philippines. 'It's one of the major successes of Team Thailand in a win-win approach, to secure the country's export base and economic security in a long run,' he said in a statement. He didn't immediately say what was the latest offer Thailand made to the US. The agreement came days after a ceasefire between Thailand and Cambodia to halt the nearly weeklong clashes that killed at least 41 people. It was brokered with US pressure as Trump said he would not move forward with trade agreements if the conflict continued.
