Trump to deploy National Guard to Washington DC
US President Donald Trump said he is taking control of Washington, DC's police force and deploying the National Guard, calling it 'Liberation Day' for the US capital. He cited a need to combat 'crime, bloodshed and bedlam', despite data showing violent crime is at a 30-year low.
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Al Jazeera
38 minutes ago
- Al Jazeera
US puts Balochistan armed group in Pakistan on ‘foreign terrorist' list
The United States has upped pressure on the Pakistan-based Balochistan Liberation Army (BLA), labelling it a 'foreign terrorist' organisation. The designation, announced by the Department of State on Monday, comes after the BLA, which is also known as the Majeed Brigade, was designated a 'specially designated global terrorist' (SDGT) organisation in 2019. The new designation is more severe and comes as US President Donald Trump has sought increased contacts with Pakistan's government. In a statement, US Secretary of State Marco Rubio said the move 'demonstrates the Trump Administration's commitment to countering terrorism'. 'Terrorist designations play a critical role in our fight against this scourge and are an effective way to curtail support for terrorist activities,' the statement said. The BLA was designated as an SDGT following a series of attacks in 2019. More recently, in March this year, the secessionist group claimed responsibility for the siege of a train travelling from Quetta to Peshawar, in which dozens of passengers and soldiers were killed. The new designation makes it a crime for anyone in the US to provide support to the group, while the previous designation only targeted financial resources. Balochistan is the largest but least populous and poorest province in Pakistan. The region has experienced at least five secessionist uprisings since Pakistan's formation in 1947. The latest iteration began in the early 2000s, and has since broadened its focus from securing the province's natural resources to full-fledged independence. Supporters of the secessionist movement have alleged that Pakistan's government has exploited the region's resources, while neglecting its population of 15 million. The province remains key to trade, housing the deep-sea ports at Gwadar, a key component in plans to link southwestern China to the Arabian Sea through Pakistan. Recent BLA attacks have further inflamed tensions between Pakistan and India, with Islamabad accusing New Delhi of fuelling the violence. India has denied the claims. Last month, the administration of US President Donald Trump also labelled The Resistance Front (TRF), which Rubio described as an offshoot of Pakistan-based Lashkar-e-Taiba (LeT), a 'foreign terrorist' group following an attack in Indian-administered Kashmir in April that killed 26 people. Trump later said he was behind a ceasefire that ended a brief military confrontation between India and Pakistan in May, a claim rejected by India. Relations between New Delhi and Washington have further soured over Trump's tariff campaign against India. Meanwhile, in June, Trump hosted Pakistani Army chief Asim Munir, considered one of the most powerful men in the country, for lunch at the White House. The Trump administration has also sought new investments with Pakistan, with particular emphasis on the South Asian country's natural resources and fledgling cryptocurrency industry.
Qatar Tribune
an hour ago
- Qatar Tribune
Nvidia, AMD to pay 15% of China chip revenues to US, official says
Agencies Top chipmakers Nvidia and AMD have agreed to give the U.S. government 15% of revenue from sales of their advanced computer chips to China, a U.S. official said on Sunday, in an unusual move likely to stir confusion among American companies. U.S. President Donald Trump's administration halted sales of H20 chips to China in April, but Nvidia announced last month that Washington had said it would allow the company to resume sales and it hoped to start deliveries soon. Another U.S. official said on Friday the Commerce Department had begun issuing licenses for the sale of H20 artificial intelligence chips to China. Both the U.S. officials declined to be named because details have not been made public. The new levy could also hurt margins for the two companies, analysts warned. Shares of Nvidia and AMD fell about 1% and nearly 2%, respectively, in premarket trade on Monday. The deal to pay the U.S. government from sales in China is unusual for a president and marks Trump's latest intervention in corporate harangues company executives to invest in America to shore up domestic jobs and manufacturing. Last week, he demanded that new Intel CEO Lip-Bu Tan immediately resign, calling him 'highly conflicted' due to his ties to Chinese firms. The U.S. official said the Trump administration did not believe the sale of H20 and equivalent chips compromised national security. 'It's wild,' said Geoff Gertz, a senior fellow at the Center for New American Security, an independent think tank in Washington, D.C. 'Either selling H20 chips to China is a national security risk, in which case we shouldn't be doing it to begin with, or it's not a national security risk, in which case, why are we putting this extra penalty on the sale?' When asked if Nvidia had agreed to pay 15% of revenues to the U.S., an Nvidia spokesperson said in a statement: 'We follow the rules the U.S. government sets for our participation in worldwide markets.' 'While we haven't shipped H20 to China for months, we hope export control rules will let America compete in China and worldwide.' Nvidia has warned that being unable to supply H20 chips to China could slice $8 billion off sales from its July quarter, while AMD had forecast a $1.5 billion hit to revenue this year owing to the curbs. AMD did not respond to a request for comment on the news that was first reported by the Financial Times (FT) earlier on Sunday. 'The Chinese market is significant for both these companies, so even if they have to give up a bit of the money, they would otherwise make it look like a logical move on paper,' AJ Bell investment director Russ Mould said. 'That said, it is unprecedented and there is always the risk that the revenue take could be upped or that the Trump administration changes its mind and re-imposes export controls.' The U.S. Department of Commerce did not immediately respond to a request for foreign ministry, approached for comment on Monday, said the country had repeatedly expressed its position on the issue of U.S. chip exports. The ministry in the past has accused the U.S. of using technology and trade issues to 'maliciously contain and suppress China.' The FT reported that the chipmakers agreed to the arrangement as a condition for obtaining export licenses for their semiconductors, including AMD's MI308 chips. The report stated that the Trump administration had yet to determine how to utilize the funds. U.S. Commerce Secretary Howard Lutnick said last month the planned resumption of sales of the AI chips was part of U.S. negotiations with China to get rare earths and described the H20 as Nvidia's 'fourth-best chip' in an interview with CNBC. Lutnick said it was in the U.S. interests to have Chinese companies using American technology, even if the most advanced was prohibited from export, so they continued to use an American 'tech stack.' The U.S. official who spoke about the 15% levy stated that they did not know when the agreement would be implemented, nor exactly how, but assured that the administration would be in compliance with the law. Alasdair Phillips-Robins, who served as an adviser at the Commerce Department during the administration of former President Joe Biden, criticized the move. 'If this reporting is accurate, it suggests the administration is trading away national security protections for revenue for the Treasury,' Phillips-Robins said. Nvidia generated $17 billion in revenue from China in the fiscal year ending Jan. 26, representing 13% of total sales. AMD reported $6.2 billion in revenue from China for 2024, accounting for 24% of its total revenue. Giving away some revenue from these chips to the U.S. government would reduce the gross margins for these processors by 5 to 15 percentage points, resulting in an impact of 'a point or so' on their overall gross margins, Bernstein analysts said in a note.
Qatar Tribune
an hour ago
- Qatar Tribune
Bullion markets breath sigh of relief as Trump says gold will not face tariffs
Agencies Washington President Donald Trump said Monday imports of gold will not face US tariffs, weighing in after a federal ruling caused chaos and confusion in global bullion markets. 'Gold will not be Tariffed!' Trump posted on social media. Gold futures traded on New York's Comex and the global benchmark for spot prices in London were little-changed after Trump's post. Spot gold pared some losses, though it was still down more than 1.2 percent on the day. No formal, updated policy had yet been posted by US agencies as of Mondayafternoon. A White House official suggested last week the administration would issue a new policy clarifying whether gold bars would face import taxes, after US Customs and Border Protection stunned traders by deciding the imports would be subject to duties. The ruling determined that one-kilogram and 100-ounce gold bars would be subject to Trump's country-based tariffs that took effect on August 7. The move came in the form of a letter that was issued to a Swiss refiner inquiring about gold's treatment, then posted publicly on the agency's website. Had the decision remained in place, it would have had sweeping implications for bullion around the world and potentially for the smooth functioning of the US futures contract. Gold's role as a financial asset and global currency sets it apart from other commodities such as copper that have been roiled by tariffs. Traders, analysts and executives across the industry had understood the bars would be exempt from Trump's so-called 'reciprocal' tariffs,' including a 39 percent levy on goods from Switzerland, a major exporter. The confusion over the CBP letter had caused US gold futures to surge to a record on Friday, and traders said that shipments were freezing up in response to the shock news. Bullion markets stabilized later Friday when a White House official told Bloomberg in a written statement that the Trump administration intends to post an executive order in the near future to clarify what it called misinformation about tariffing of gold and other specialty products. The latest statement adds to a tumultuous year for gold, which has soared to unprecedented levels amid strong buying from central banks and as Trump's trade war drives haven demand. Earlier this year, physical flows were upended as traders rushed billions of dollars worth of gold and silver into the US as New York prices traded at large premiums in anticipation of potential tariffs. However, that trade came to a crashing halt after the US included gold and silver in its list of exemptions from the tariffs announced in early April.
