China urged the U.S. to honor prior consensus and criticized export controls on AI chips, while defending rare earth restrictions.
Trump announced gold exempt from tariffs, a relief for Switzerland, the top refining hub. Gold futures fell 2.5% to $3,491 before the news.
The White House confirmed a revenue-sharing deal allowing NVDA and AMD to sell certain GPUs to China, seen as a risky precedent in the AI race.
Trump also demanded China quadruple soybean purchases, down 50% in six months. Analysts warn higher tariffs would act like an embargo, fueling inflation and jeopardizing a Trump–Xi summit this fall.
My watchlist: INTC, ROK, MAAS, SYM, AIFU, AMBA
Trump extended the China tariff truce to Nov. 9, keeping rates at 30% instead of rising higher.
byu/Silver-Carrot-4254 ineconomy
Posted by Silver-Carrot-4254
8 Comments
At this rate Trump should just hold off till after the mid terms that way his base won’t see all the cheap stuff they buy increase in price.
On the other side of things I feel tremendously sorry for whom ever has to translate Trumps word salad to Xi.
Taco taco…
30% is still huge compared to the 3% we had set before. And let’s be clear, the consumer pays the tariff.
There is no AI race.
China has the infrastructure for it the US is still stuck using a 1970s infrastructure that is not anywhere close to the task.
Are people really this blind?
Which means they’ll kick it to Dec 1 when they get close enough before giving it another 90 day extension.
Well… the de minimis exemption will end for all countries on August 29th. The pain to consumers and small businesses is happening.
What the he’ll is these pause no pause united states of failers and debt burrowing.