Latest news with #nationalsecurity
New York Times
11 hours ago
- Politics
- New York Times
A Court Debates Whether a Climate Lawsuit Threatens National Security
Two teams of high-powered lawyers clashed this week in Charleston, S.C., over a global-warming question with major implications: Do climate lawsuits against oil companies threaten national security, as President Trump has claimed? In the lawsuit, the City of Charleston is arguing that oil companies including ExxonMobil, Chevron and about a dozen others carried out a sophisticated, decades-long misinformation campaign to cover up what they knew about the dangers of climate change. There are some three dozen similar cases around the country, and recently Mr. Trump issued an executive order calling the lawsuits a threat to national security, saying they could lead to crippling damages. The hearings in Charleston were the first time lawyers had to grapple in a courtroom with the president's assertions. Mr. Trump's executive order was the opening salvo in a broad new attack by his administration against climate lawsuits targeting oil companies. Citing the executive order, the Justice Department this month filed unusual lawsuits against Hawaii and Michigan seeking to prevent them from filing their own climate-change suits. (Hawaii filed its suit anyway, and Michigan's attorney general has signaled that she will also be proceeding.) In court hearings in Charleston on Thursday and Friday, Judge Roger M. Young Sr. asked each side to weigh in on the order as they sparred over the companies' motions to dismiss the case, which was filed in 2020. Want all of The Times? Subscribe.
New York Times
13 hours ago
- Business
- New York Times
Trump to Double Tariffs on Foreign Steel to 50%
President Trump said on Friday that he would double the tariffs he had levied on foreign steel, increasing them to 50 percent, a move that he claimed would further protect the industry. Speaking at a U.S. Steel factory just outside Pittsburgh, Mr. Trump said foreign countries had been able to circumvent the 25 percent tariff he put in place this year. He made the pledge at the end of a week in which legal challenges threatened many of his tariffs. A court ruled on Wednesday that Mr. Trump's taxes on imports from China, Canada, Mexico and other nations were unlawful, before an appeals court paused that decision the next day. But those court decisions do not affect Mr. Trump's steel tariffs. The levies he on steel, aluminum and cars were issued through a separate law pertaining to national security. Mr. Trump also reassured employees of U.S. Steel, which has been weighing an acquisition by Nippon Steel, a Japanese company, that they would 'continue to be controlled by the U.S.A.' He did not provide any details about whether Nippon is acquiring the American steel maker, as it originally proposed, or if a deal may take some other form. 'You're going to stay an American company, you know that?' Mr. Trump said. His appearance in Pennsylvania was the latest twist in a two-year saga about the fate of U.S. Steel, an iconic American company that became consumed by presidential politics. During the campaign last year, Mr. Trump, former President Joseph R. Biden Jr. and former Vice President Kamala Harris all expressed opposition to U.S. Steel's being sold to a foreign company. The fact that the company is based in the swing state of Pennsylvania and that the deal faced resistance from the powerful United Steelworkers union further complicated the transaction. This is a developing story. Check back for updates.
Fox News
14 hours ago
- Business
- Fox News
JPMorgan's Jamie Dimon calls on US to stockpile bullets, rare earth instead of bitcoin
SIMI VALLEY, Calif. — The United States should stockpile guns, ammunition and drones instead of bitcoin, JPMorgan Chase CEO Jamie Dimon said Friday at the inaugural Reagan National Economic Forum in California. "We shouldn't be stockpiling bitcoins," Dimon said when asked about how industrial policy is entwined with national security policies during a panel. "We should stockpiling guns, bullets, tanks, planes, drones, you know, rare earths. We know we need to do it. It's not a mystery." Bitcoin is a decentralized digital currency that operates outside of banking or government authority. President Donald Trump signed an executive order in March establishing a Bitcoin reserve, which he described as "a virtual Fort Knox for digital gold." "We should be stockpiling bullets," he continued. "Like, you know, the military guys tell you that, you know, if there's a war in the South China Sea, we have missiles for seven days. Okay, come on. I mean, we can't say that with a straight face and think that's okay. So we know what to do. We just got to now go about doing it. Get the people together, roll up our sleeves, you know, have the debates." Dimon joined a fireside chat during the Reagan National Economic Forum in Simi Valley, California, at the Reagan Presidential Library Friday for a sweeping discussion on the economy and how the world's "tectonic plates are shifting" in geopolitics in the form of wars, proxy terrorists and the potential proliferation of nuclear weapons. Dimon underscored during his address that he does not view China as America's top adversary, and instead pointed his attention to the "enemy within" that could lead to the U.S.' status as the world's leader crater. "I'm not as worried about China," Dimon said. "China is a potential adversary. They're doing a lot of things well, they have a lot of problems. But what I really worry about is us. Can we get our own act together, our own values, our own capability, our own management?" "I always get asked this question: Are we going to be the reserve currency?" he said. "No. You know, if we are not the preeminent military and the preeminent economy in 40 years, we will not be the reserve currency. That's a fact. Just read history." He referred to the U.S. government as a "Leviathan" that is too weak to carry out policies, while simultaneously imposing "things on the American public that they're getting sick of." Dimon argued that instead, the U.S. needs to celebrate its long-held values. "Celebrate our virtues: freedom of speech, freedom of religion, freedom of enterprise, equal opportunity, family, God, country," he said. "You know, and you can acknowledge the flaws that we have, which are extraordinary — what we did the Black population for years. Don't denigrate the great things of this country, because those are two different things." "We don't talk that much to each other — deal with our policies — this is the enemy within," he continued. "We've got to fix our permitting our regulations our immigration our taxation, which I, I think they're on their way. We have to fix our inner city schools, our health care system." The Reagan National Economic forum kicked off Friday, and includes panels featuring Secretary of Energy Chris Wright, lawmakers such as Sens. Mike Rounds and Bill Cassidy, and leaders from the private sector, such as the CEO of Booz Allen Hamilton, Horacio Rozanski. The bipartisan event works to promote "President Reagan's enduring belief in the power of the free market and individual opportunity to drive national prosperity," according to forum organizers.
CBS News
18 hours ago
- General
- CBS News
Student visa applicants advised to tread lightly as U.S. expands social media vetting
Counselors who work with foreign students eager to attend college in the U.S. are advising them to purge their social media accounts of posts that could attract the attention of U.S. State Department officials. "Any new student who comes on board — especially an international student who doesn't have a U.S. passport — we would be going through their social media with them and talk to them about what they are saying on Snapchat, in group chats," said Kat Cohen, founder and CEO of IvyWise, an educational consultancy firm for college admissions. "Because, if the information comes off as being radical or anti-American in some way, it is not going to help them." The focus on international students' online profiles follows a new push by the Trump administration to scrutinize social media accounts as part of the evaluation process for student visa applications. In a cable dated May 27 and obtained by CBS News, the State Department said it was preparing to expand social media screening and vetting. The agency did not specify exactly what type of content it would be looking for. "President Trump will always put the safety of Americans first, and it is a privilege, not a right, to study in the United States," White House spokesperson Anna Kelly said in a statement. "Enhanced social media vetting is a commonsense measure that will help ensure that guests in our country are not planning to harm Americans, which is a national security priority." The new vetting measures build upon an April statement from United States Citizenship and Immigration Services announcing that the agency will be taking into account "antisemitic activity on social media" as "grounds for denying immigration benefit requests." No politics Advisers who cater to international students applying to U.S. schools told CBS Moneywatch they are reluctant to advise them to delete their social media accounts outright. But they are urging students to eliminate political-themed posts, especially if they relate to controversial topics such as the wars in Gaza and Ukraine. IvyWise also discourages foreign students from reposting any information they haven't verified themselves, given that it might be inaccurate. "We don't think students should delete their social media accounts completely," Cohen said. "But we do need to make sure we go through their social media accounts with them to make sure that they are presenting themselves in the best possible light." Mandee Heller Adler, founder of International College Counselors, also recommends that students weed out potentially controversial posts, including any opinions or content related to politics. "I'm not saying that they have to get rid of the whole thing altogether, but certainly delete any political posts," Adler told CBS MoneyWatch. "This is kind of an easy way for kids to protect themselves." Sasha Chada, who has led Texas-based college admissions counseling group Ivy Scholars for over a decade, said that asking students to delete their social media would be a "tall order" given how deeply ingrained the platforms are in their lives. Over half of U.S. adults between the ages of 18 and 34 report using TikTok, according to Pew Research. Chilling effect? Some critics think the State Department's scrutiny of international students' social accounts will inhibit their freedom of expression. "While social media vetting of visa applicants isn't new, should the administration's 'expanded vetting' consider political viewpoints, it will certainly scare some would-be applicants into silencing themselves on any topic they feel might contradict the views of President Trump, or his successors," said Robert Shibley, special counsel at the Foundation for Individual Rights and Expression, which promotes free speech on college campuses. The State Department did not respond to CBS MoneyWatch's request for comment. "We take very seriously the process of vetting who it is that comes into the country, and we're going to continue to do that," State Department spokesperson Tammy Bruce told reporters this week, when asked about student visas. Mahsa Khanbabai, an immigration attorney based in Massachusetts whose firm assists with student visas, said she has spoken to dozens of foreign students — both overseas and in the U.S. — some of whom have decided to delete their social media accounts or change them from public to private for protection. Students, she said, are not just concerned about posts on political flashpoints like Gaza, but also their personal views on topics like climate change and reproductive rights advocacy. Recent consultations Khanbabai has had with foreign students have been focused, she said, on helping them determine how strongly they feel about publicizing their views, and giving them a sense of the potential trade-offs when deciding to post or not to post. "I meet with students to ask them, 'Are you willing to pause engagement on social media to achieve longer-term goals like your career and education, knowing that in the short term you're ultimately kind of maybe sacrificing some of your ethical or moral values?'" she said.
Globe and Mail
18 hours ago
- Business
- Globe and Mail
The CHIPS Act and Peraso Inc. (NASDAQ: PRSO): Advancing Semiconductor Innovation and National Security
The CHIPS and Science Act, a landmark $280 billion initiative, is designed to bolster domestic semiconductor manufacturing, strengthen supply chain resilience, and advance technologies critical to national security. Peraso Inc. (NASDAQ: PRSO), whose fixed wireless access (FWA) solutions rely on cutting-edge semiconductors, stands to benefit significantly from this federal initiative. CHIPS Act: Strengthening Semiconductor Innovation Peraso's advanced mmWave wireless technology, including its proprietary PERSPECTUS modules, depends on high-performance semiconductors to power beamforming, subscriber density optimization, and ultra-low latency communication. The CHIPS Act's targeted support for semiconductor design, manufacturing, and R&D directly aligns with Peraso's core mission. Key Provisions of the CHIPS Act Relevant to Peraso: Support for Semiconductor Design and Manufacturing: With billions earmarked for semiconductor innovation, Peraso could secure funding to expand and refine its wireless module production, improving both scalability and performance. Defense Applications: Peraso's proven technology in active war zones enhances its appeal for CHIPS-related defense funding streams focused on national security communication infrastructure. Incentives for Domestic Production: By establishing or scaling up U.S.-based production, Peraso can reduce dependency on foreign suppliers and capitalize on government incentives to drive cost efficiency and resilience. Beamforming Technology and Military-Grade Security Beamforming, a core component of Peraso's wireless architecture, enables precise signal direction and obstacle circumvention—making communications harder to intercept and more reliable in combat and urban zones. These stealth features have been tested in military deployments, affirming Peraso's role as a trusted innovator in defense communication. The CHIPS Act's prioritization of defense-sector semiconductor advancement opens clear funding pathways for Peraso's continued innovation in secure communications. Momentum Builds Across Semiconductor and Tech Microcaps In addition to Peraso Inc.'s (NASDAQ: PRSO) momentum, keep an eye on: These microcap tech and biotech stocks are moving aggressively in early trading, drawing increasing volume and media attention as investors seek the next breakout plays underpinned by catalysts such as R&D breakthroughs, M&A buzz, and sector-specific policy tailwinds. Global Implications: Peraso's Expanding Reach While the CHIPS Act is a U.S.-centric initiative, its global ramifications for semiconductor innovation, broadband infrastructure, and secure communications are profound. By leveraging CHIPS-backed funding and a strengthened domestic supply chain, Peraso can scale manufacturing, reduce costs, and expand its international footprint. With countries globally prioritizing secure broadband and military-grade connectivity, Peraso's reputation and reliability uniquely position it for strategic partnerships and multinational deployments. The CHIPS Act offers a transformative roadmap for Peraso Inc. (NASDAQ: PRSO) to amplify its role in semiconductor innovation and national security. Backed by military-proven technology and expanding global relevance, Peraso is more than a player—it's a rising leader in next-gen wireless, defense-grade communications, and broadband transformation. Investors should watch closely as the company continues to align with macro-level federal investments, with a potential ripple effect across small-cap tech innovators. 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