-
Trump holds meeting with Intel CEO after demanding he resign
US President Donald Trump said he met with Intel CEO Lip-Bu Tan on Monday, days after seeking his resignation, praising Tan and calling the meeting "a very interesting one." Shares of the chipmaker rose 3 percent in extended trading. Last week, Trump had demanded the immediate resignation of Tan, calling him "highly conflicted" over his ties to Chinese firms, injecting uncertainty into the chipmaker's years-long turnaround effort. Trump said he met with Tan, along with Commerce Secretary Howard
Aug. 12, 2025 -
'Trump's Nvidia deal raises new corporate, national security risks'
ANALYSIS US President Donald Trump upended decades of US national security policy, creating an entirely new category of corporate risk, when he made a deal with Nvidia to give the US government a cut of its sales in exchange for resuming exports of banned AI chips to China. Historically, the US government made decisions to control the export of sensitive technologies on national security grounds. Those decisions were viewed as non-negotiable; if a technology was controlled, companies could not b
Aug. 12, 2025 -
Trump says no tariffs on gold imports
US President Donald Trump said Monday that his administration will not impose tariffs on gold imports, an announcement following days of speculation that gold bars might be subject to country-specific duties. Trump issued a terse statement in a social media post, after speculation arose over the possibility of gold tariffs after a recent ruling by US Customs and Border Protection that 1-kilogram and 100-ounce gold bullion bars from Switzerland would face duties. "Gold will not be Tariffed!," Tru
Aug. 12, 2025 -
In India, Trump's tariffs spark calls to boycott American goods
NEW DELHI (Reuters) -- From McDonald's and Coca-Cola to Amazon and Apple, US-based multinationals are facing calls for a boycott in India as business executives and Prime Minister Narendra Modi's supporters stoke anti-American sentiment to protest against US tariffs. India, the world's most populous nation, is a key market for American brands that have rapidly expanded to target a growing base of affluent consumers, many of whom remain infatuated with international labels seen as symbols of movi
Aug. 11, 2025 -
'Nvidia, AMD to pay 15% of China chip sale revenues to US'
Nvidia and AMD have agreed to give the US government 15 percent of revenue from sales to China of advanced computer chips like Nvidia’s H20 that are used for artificial intelligence applications, a US official told Reuters on Sunday. US President Donald Trump’s administration halted sales of H20 chips to China in April, but Nvidia last month announced the US said that it would allow the company to resume sales and it hoped to start deliveries soon. Another US official said on Friday that the Com
Aug. 11, 2025 -
Intel's stock tumbles after Trump says its CEO must resign
Intel's shares are tumbling before markets opened Thursday after President Donald Trump said in a social media post that the chipmaker's CEO needs to resign. “The CEO of Intel is highly conflicted and must resign, immediately,” Trump posted on Truth Social. “There is no other solution to this problem. Thank you for your attention to this problem!” Trump made the post after Senator Tom Cotton sent a letter to Intel Chairman Frank Yeary expressing concern over CEO Lip-Bu Tan’s investments and ties
Aug. 7, 2025 -
Toyota reports a 37% drop in profit, cuts its forecast due to Trump's tariffs
Toyota's profit plunged 37 percent in the April-June quarter, the company said Thursday, cutting its full-year earnings forecasts largely because of President Donald Trump’s tariffs. The Japanese automaker said it based its report on the assumption that Trump’s tariffs on exports from Japan, including autos, would be 12.5 percent starting this month. As of now, they stand at 15 percent. The world’s top automaker also makes vehicles in Mexico and Canada. Toyota’s profit in the last quarter totale
Aug. 7, 2025 -
Bank of England cuts interest rates from 4.25% to 4%
The Bank of England cut interest rates from 4.25 percent to 4 percent on Thursday. The Bank’s Monetary Policy Committee (MPC) was split in its decision on interest rates, leading to its members holding two votes for the first time in its history. Initially, four of the nine-person committee wanted rates to be reduced by 0.25 percentage points to 4 percent, while four wanted to keep rates unchanged, and one member preferred a bigger 0.5 percentage point cut. This meant the committee was forced to
Aug. 7, 2025 -
Russia and India talk up 'strategic partnership' after Trump tariff hike
Russia and India stressed their commitment to a "strategic partnership" in bilateral security talks in Moscow on Thursday, a day after the US President Donald Trump announced higher tariffs on imports from India because of its purchases of Russian oil. Interfax news agency quoted Indian national security adviser Ajit Doval as saying that New Delhi was looking forward to a visit from President Vladimir Putin by the end of the year. At Doval's meeting with Sergei Shoigu, secretary of Russia's Secu
Aug. 7, 2025 -
Apple to invest additional $100b in domestic manufacturing
WASHINGTON (AFP) -- Apple will invest an additional $100 billion in the United States, taking its total pledge to $600 billion over the next four years, US President Donald Trump said Wednesday. Trump announced the increased commitment at the White House alongside the tech giant's CEO Tim Cook, calling it "the largest investment Apple has made in America." "Apple will massively increase spending on its domestic supply chain," Trump added, highlighting a new production facility for the glass used
Aug. 7, 2025 -
Brazil's president sees no point in tariff talks with Trump
BRASILIA (Reuters) -- As US tariffs on Brazilian goods jumped to 50 percent Wednesday, Brazil's President Luiz Inacio Lula da Silva told Reuters in an interview that he saw no room for direct talks now with US President Donald Trump that would likely be a "humiliation." Brazil is not about to announce reciprocal tariffs, he said. Nor will his government give up on cabinet-level talks. But Lula himself is in no rush to ring the White House. "The day my intuition says Trump is ready to talk, I won
Aug. 7, 2025 -
Trump imposes extra 25% tariff on Indian goods, ties hit new low
WASHINGTON/NEW DELHI (Reuters) -- US President Donald Trump on Wednesday imposed an additional 25 percent tariff on Indian goods, citing New Delhi's continued imports of Russian oil in a move that sharply escalated tensions between the two nations after trade talks reached a deadlock. The new import tax will raise duties on some Indian exports to as high as 50 percent -- among the highest levied on any US trading partner. Trump's executive order imposing the extra tariff did not mention China, w
Aug. 7, 2025 -
Swiss president rushes to US to avert steep tariffs
WASHINGTON (AFP) -- Switzerland's president was in Washington on Tuesday in a last-minute push to stop steep new tariffs, but with no appointment to plead her case to US President Donald Trump. Switzerland faces a 39-percent duty, one of the highest among the dozens of economies that will be hit by new tariffs expected to come into force from this week. President Karin Keller-Sutter and Economy Minister Guy Parmelin were visiting Washington "to facilitate meetings with the US authorities at shor
Aug. 6, 2025 -
Trump narrows Fed chair candidates to four, excluding Bessent
WASHINGTON (Reuters) -- US President Donald Trump said Tuesday he will decide on a nominee to fill a coming vacancy on the Federal Reserve's Board of Governors by the end of the week, and had separately narrowed the possible replacements for Fed Chair Jerome Powell to a short list of four. "I'll be making that decision before the end of the week," Trump said of his plans to name a replacement for Fed Gov. Adriana Kugler, who last week unexpectedly announced she was leaving as of this Friday to r
Aug. 6, 2025 -
Trump says US will raise pharmaceutical tariffs to 150% in 1 year, to 250% later
US President Donald Trump said Tuesday that his administration will put "small" tariffs on pharmaceutical imports initially, and then raise them to 150 percent in a year and to 250 percent later, as he unveiled a plan to announce sector-specific tariffs "within the next week or so." Trump made the remarks in a CNBC interview as South Korea and other countries are bracing for the Trump administration's rollout of new sectoral tariffs, including those on semiconductors following their deals with i
Aug. 6, 2025