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Friday, May 30, 2025

Tag: trade
May 2, 2025
War
World

Trump Poised to Strike Another Minerals Deal Amid African Peace Push.

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❓What Happened: The U.S. is encouraging Congo and Rwanda to sign a peace agreement at the White House within roughly two months, which will include bilateral mineral deals attracting Western investment.

👥 Who’s Involved: The Democratic Republic of Congo (DRC), Rwanda, U.S. government, M23 rebel group, U.S. Africa advisor Massad Boulos, U.S. Secretary of State Marco Rubio, Western companies.

📍 Where & When: White House signing proposed in about two months; drafts expected Friday; mid-May meeting in Washington; ongoing conflict in eastern Congo.

💬 Key Quote: “When we sign the peace agreement … the minerals deal with the DRC will be signed on that day, and then a similar package, but of a different size, will be signed on that day with Rwanda.” — Massad Boulos, U.S. senior advisor for Africa.

⚠️ Impact: The accord may facilitate Western investments in Congolese and Rwandan mines, contingent upon security measures being addressed, supporting regional stability, and reducing Chinese influence.

IN FULL:

The Trump administration is actively working to facilitate a peace agreement between the Democratic Republic of Congo and Rwanda, aiming for a formal signing at the White House within two months. The accord is expected to be accompanied by bilateral mineral agreements, bringing substantial investments from Western firms to the mineral-abundant region. Massad Boulos, President Donald J. Trump’s senior advisor for Africa, confirmed this development during an engagement in Doha, Qatar.

“When we sign the peace agreement … the minerals deal with the DRC (Democratic Republic of Congo) will be signed on that day, and then a similar package, but of a different size, will be signed on that day with Rwanda,” Boulos said.

Presently, the North Kivu province in the Democratic Republic of Congo experiences significant unrest, due to activities from the M23 rebels, widely believed to be backed by Rwanda—although Rwanda officially denies involvement. Both nations are anticipated to present drafts of the proposed peace accord shortly, as a prelude to a meeting in Washington scheduled for mid-May, where U.S. Secretary of State Marco Rubio will meet with their foreign ministers.

The deal also seeks large-scale investments in the mining sector, particularly in Congo, which possesses extensive resources but has substantial infrastructure needs. Rwanda is recognized for its mid- to downstream mining capabilities. Strategically, greater Western involvement in the region would likely diminish longstanding Chinese influence.

The investment agreements will be conditional on both countries addressing specific security concerns. These include the withdrawal of Rwandan troops from Congolese territory and the cessation of support for the M23 group. Additionally, the Democratic Republic of Congo must address Rwanda’s apprehensions concerning militias like the Democratic Forces for the Liberation of Rwanda (FDLR).

Ahead of the intended White House ceremony, a committee comprised of representatives from the U.S., Qatar, France, and Togo (representing the African Union) will monitor each country’s adherence to the preliminary terms.

The accords come just days after President Trump confirmed a mineral deal with Ukraine covering several key resources, such as rare earth minerals. The agreement is part of the larger peace process to end Ukraine’s ongoing conflict with Russia.

Image by MONUSCO Photos/Clara Padovan.

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May 2, 2025
Economy

Trump Tariffs Force Germany’s Mercedes-Benz to Shift More Production to America.

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❓What Happened: Mercedes-Benz announced on Thursday, May 1, that it will shift additional production to the United States, with the aim of localizing the assembly of a new “core segment” vehicle at its facility in Tuscaloosa, Alabama.

👥 Who’s Involved: Mercedes-Benz, President Donald J. Trump, BMW, Honda, Hyundai, Kia, Nissan, Stellantis, Toyota.

📍 Where & When: The announcement was made on May 1, 2025, with plans to have production of the “core segment” vehicle entirely moved to Alabama by 2027.

💬 Key Quote: In a statement announcing the move, Mercedes-Benz North America CEO Jason Hoff said: “We are getting even closer to the U.S. customer by localizing a core segment model in Tuscaloosa, strengthening our ties to the North American market where a range of Mercedes-Benz vehicles including the GLE and GLS models have their roots.”

⚠️ Impact: The move by Mercedes-Benz is the latest announcement by a major global corporation that it intends to increase its production base in the United States following President Trump’s imposition of a global 10 percent tariff on all foreign imports and additional trade duties on foreign steel and automobiles last month.

IN FULL:

Mercedes-Benz is set to expand its manufacturing operations in the United States, as the company plans to produce an additional vehicle at its Tuscaloosa, Alabama, facility. This move comes amid the Trump administration’s emphasis on bolstering American manufacturing, urging automakers to enhance their domestic production efforts to avoid tariffs imposed on foreign auto and steel imports earlier this year.

“We are getting even closer to the U.S. customer by localizing a core segment model in Tuscaloosa, strengthening our ties to the North American market where a range of Mercedes-Benz vehicles including the GLE and GLS models have their roots,” Mercedes-Benz North America CEO Jason Hoff said in a statement announcing the move on Thursday.

The decision aligns with other shifts in the automotive industry toward onshoring production. BMW is contemplating increasing its workforce in South Carolina with additional shifts. Honda intends to transfer production of its Civic model from Japan to U.S. facilities. Additionally, Hyundai has announced a significant $20 billion investment aimed at strengthening its American production capabilities. This includes a new $5.8 billion steel plant in Louisiana, aiding in Hyundai’s goal of localizing production in the United States.

Kia, in collaboration with Hyundai, plans to manufacture hybrid vehicles in Georgia. Nissan is evaluating the possibility of moving production from Mexico to the U.S. Additionally, Stellantis is set to restart its Belvidere, Illinois plant to produce a midsize pickup truck, while Toyota intends to increase hybrid vehicle production at its West Virginia facility.

The National Pulse reported earlier on Thursday that satellite radio provider SiriusXM told investors on its quarterly earnings call that it does not anticipate tariffs to significantly impact the company’s revenue. Notably, SiriusXM is heavily reliant on new car sales to build its subscriber base, holding installation agreements with most U.S. automakers.

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May 1, 2025
Economy
News

Sheinbaum Agrees She Will Work to ‘Improve’ US-Mexico Trade Balance.

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❓What Happened: Mexican President Claudia Sheinbaum has pledged to “improve” its trade balance with the U.S., currently skewed in Mexico’s favor, in response to President Donald J. Trump’s imposition of tariffs to correct such imbalances.

👥 Who’s Involved: Mexican President Claudia Sheinbaum and U.S. President Donald Trump.

📍 Where & When: The conversation was acknowledged on Thursday, details shared in Mexico.

💬 Key Quote: “We agreed that the secretaries of the Treasury, finance, economy and commerce will continue working in the coming days on options to improve our trade balance and advance outstanding issues for the benefit of both countries,” Sheinbaum wrote on X.

⚠️ Impact: U.S. tariffs remain in place for certain Mexican exports. Mexico aims to decrease its trade imbalance with the U.S. so the Trump administration feels less inclined to correct it through tariffs.

IN FULL:

Mexican President Claudia Sheinbaum announced Thursday that she has held conversations with U.S. President Donald J. Trump on trade, revealing, “We agreed that the secretaries of the Treasury, finance, economy and commerce will continue working in the coming days on options to improve our trade balance and advance outstanding issues for the benefit of both countries.”

So far, no definitive plan has been reached to eliminate tariffs affecting certain Mexican exports. These were imposed by President Trump to address the trade imbalance between the two countries, with manufacturing jobs flowing to America’s comparatively low-wage neighbor at the expense of American businesses and workers.

While Mexico has avoided being hit with high reciprocal tariffs, trade duties imposed on specific sectors such as automobiles and steel pose ongoing challenges to the Mexican economy. The U.S. absorbs a significant portion of Mexican exports, with Mexico overtaking China as America’s biggest source of imports in 2023.

President Trump said in late April that he believes he will have secured 200 trade deals, increasing advantages for American producers and exporters, by roughly the end of May, possibly paving the way for a reduction in some tariffs.

Image: Mexico City Government.

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April 28, 2025
Economy

IBM Commits $150 Billion to U.S. Tech Expansion.

PULSE POINTS:

❓What Happened: IBM announced plans for new investments in the United States, following similar announcements from other tech companies amid pressure from the Trump administration to boost U.S. manufacturing.

👥 Who’s Involved: IBM, Nvidia, Foxconn, Taiwan Semiconductor Manufacturing Company, Apple, OpenAI, SoftBank, Oracle, and the Trump administration.

📍 Where & When: The announcement was made in the United States on Monday, April 28, with investments planned over the next five years.

💬 Key Quote: Arvind Krishna, IBM’s chief executive, stated, “With this investment and manufacturing commitment, we are ensuring that IBM remains the epicenter of the world’s most advanced computing and AI capabilities.”

⚠️ Impact: The announcements suggest significant potential investment in U.S. manufacturing with a focus on strengthening domestic supply chains and technology production.

IN FULL:

IBM has announced a substantial investment initiative in the United States, joining a wave of tech corporations revealing similar plans amidst pressure from the Trump administration to relocate or expand manufacturing operations within the country. The New York-headquartered software giant aims to invest $150 billion domestically in the coming five years, including $30 billion explicitly allocated for its mainframe and quantum computers. This announcement aligns with efforts by various firms to bolster the national economy and build stronger domestic supply chains insulated from retaliatory actions by China‘s communist regime, at President Donald J. Trump’s urging.

The unveiling of IBM’s investment plan follows a pledge made by chipmaker Nvidia, which declared a $500 billion investment and committed to producing its artificial intelligence (AI) supercomputers in the United States. “With this investment and manufacturing commitment, we are ensuring that IBM remains the epicenter of the world’s most advanced computing and AI capabilities,” the company’s CEO, Arvind Krishna, said in a statement.

Following President Donald J. Trump‘s inauguration in January, a number of both foreign and domestic technology companies have announced significant investments and expansions in the United States. Key announcements include Taiwan Semiconductor Manufacturing Company’s (TSMC) $100 billion U.S.-based expansion plan for semiconductor production, alongside Apple’s intention to invest $500 billion and create 20,000 jobs in the U.S., with a new factory in Texas focused on AI advancements.

Earlier this year, a joint initiative involving OpenAI, SoftBank, and Oracle, set to create a $100 billion computing infrastructure to support AI, was announced. The current administration’s trade policies have imposed tariffs on numerous Chinese goods, but notably spared electronics such as smartphones and computers, at least temporarily.

Image by Gage Skidmore.

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April 25, 2025
Economy
News

Trump Touts 200 Upcoming Trade Deals, Says Xi Has Called.

PULSE POINTS:

❓What Happened: President Donald J. Trump said in an interview that he is finalizing 200 tariff-related deals, projecting completion of negotiations in three to four weeks, and that Chinese dictator Xi Jinping has called.

👥 Who’s Involved: President Trump, President Xi Jinping, White House Trade Adviser Peter Navarro, Chinese Foreign Ministry spokesman Guo Jiakun.

📍 Where & When: The information was shared in a TIME magazine interview on April 24, 2025, during a meeting at the White House.

💬 Key Quote: “Over the next three to four weeks, and we’re finished,” Trump said of the expected trade deals. “We’ll be finished.”

⚠️ Impact: The deals could substantially reduce foreign and domestic tariffs on terms more favorable to the U.S.

IN FULL:

President Donald J. Trump has told TIME magazine that he is completing 200 trade deals regarding tariffs, and foresees concluding negotiations within the next three to four weeks. During the interview, he was asked about Peter Navarro’s prediction of 90 tariff agreements in 90 days. Trump indicated that he has surpassed expectations, stating emphatically that 200 deals have been made.

Trump did not provide details regarding the specific countries involved or the terms of these agreements. He explained that he has engaged with various foreign representatives over recent weeks on tariffs and economic issues. “I would say, over the next three to four weeks, and we’re finished,” he said of the deals.

Regarding China, which currently faces the highest tariff rates imposed by the administration, Trump disclosed that President Xi Jinping has contacted him directly. He said he would not reach out to the Chinese dictator first, but said it was not “a sign of weakness” that Xi had called him. Instead, Trump insisted it was a sign of magnanimity.

Nevertheless, these remarks face dissent from Chinese officials. Before the publication of the TIME interview, Guo Jiakun from the Chinese Foreign Ministry claimed the U.S. depiction of active talks is “fake news.” On Friday, Jiakun again claimed that no tariff negotiations had occurred between China and the United States.

President Trump believes that the U.S. holds a decisive upper hand over China, a surplus economy, in any trade war, with the American market being much more important to Chinese exporters than the Chinese market is to American exporters.

“I am this giant store. It’s a giant, beautiful store, and everybody wants to go shopping there. And on behalf of the American people, I own the store, and I set prices, and I’ll say, if you want to shop here, this is what you have to pay,” he explained to TIME.

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April 15, 2025
William Upton
Economy
World

China Refuses Boeing Jet Deliveries.

PULSE POINTS:

❓What Happened: The Chinese Communist Party (CCP) has instructed domestic airlines to halt acceptance of Boeing jet deliveries amid escalating trade tensions with the United States.

👥 Who’s Involved: The Chinese government, domestic Chinese airlines, Boeing, U.S. companies supplying airline parts, and President Donald J. Trump.

📍 Where & When: The announcement occurred in China in the context of ongoing trade disputes with the U.S.

💬 Key Quote: “We do not see China as critical to Boeing’s ramp over the next few years,” said Seth Seifman, an analyst with JPMorgan. He added: “China will be important longer term, however.”

⚠️ Impact: Boeing’s stocks dropped by 1.6 percent in morning trading. China’s heightened tariffs on U.S. goods to 125 percent complicate aircraft and parts shipments, affecting affordability. The trade rift may disrupt Boeing’s planned deliveries, impacting future transactions.

IN FULL:

The Chinese Communist Party (CCP) is directing its country’s aviation sector to stop receiving Boeing jets as U.S.-China trade tensions intensify. The Chinese government’s directive also includes a halt on the purchase of U.S.-made airline components. Last week, China’s communist government announced it would increase tariffs on American goods to 125 percent. This followed an announcement by U.S. President Donald J. Trump of a 145 percent tariff on all Chinese imports.

Notably, Boeing-made aircraft comprise an estimated 40 percent of the total global commercial aviation market. France-based Airbus holds nearly 60 percent of the market, with Canada’s Bombardier Aviation and Brazil’s Embraer S.A. making up the small remainder. Additionally, U.S.-made airline parts account for a significant share of components sold around the world.

The move by China could significantly impact Boeing, which was set to deliver approximately 10 of its 737 Max models to Chinese airlines like China Southern Airlines, Air China, and Xiamen Airlines. However, payment and delivery processes for some aircraft may have been finalized before the trade conflict expanded, meaning those specific deliveries might proceed. In addition, the CCP restrictions could cause considerable problems for China’s domestic commercial aviation industry, limiting the ability of the country’s airlines to source critical components—with the use of aftermarket or refurbished parts increasing safety risks.

“We do not see China as critical to Boeing’s ramp over the next few years,” wrote Seth Seifman, an analyst with JPMorgan, in an investor note. He added: “China will be important longer term, however.”

Following the announcement of the CCP directive, Boeing’s stock shares fell 1.6 percent, or $2.59, to $156.74 as trading began Tuesday morning.

The restrictions on Boeing are one of the few areas where China can directly impact American exports. As a surplus economy, China exports far more than it imports—especially in its trade relations with the U.S. Notably, American exports to China are primarily agricultural in nature, with aircraft and airline components comprising a much smaller share.

Image by Clemens Vasters.

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April 15, 2025
Economy
News

Europe Braces for Influx of Cheap Chinese Imports as Trump Tariffs Protect U.S. Producers.

PULSE POINTS:

❓What Happened: Europe is concerned about an influx of cheap Chinese goods due to tariffs imposed by the United States on Chinese exports.

👥 Who’s Involved: Key players include European leaders, Chinese manufacturers, and the U.S. government.

📍 Where & When: The situation is unfolding across Europe, with a focus on countries like France, Germany, and Italy, amid escalating trade tensions.

💬 Key Quote: Liana Fix of the Council on Foreign Relations noted, “The overcapacity challenge has taken a long time, but it has finally arrived in European capitals.”

⚠️ Impact: Potential economic strain on European industries and increased vigilance on imports to prevent dumping.

IN FULL:

Europe faces an expected surge in Chinese products due to the ongoing trade clash between the United States and China. With U.S.-imposed tariffs dampening export opportunities for Chinese goods, the Chinese Communist Party (CCP) could seek to dump exports on the European market. This situation raises alarm over the potential negative impact on local industries across the European Union (EU).

The situation stems from President Donald J. Trump’s hefty tariffs on China, which have significantly obstructed Chinese exports to American markets. Consequently, there are growing apprehensions that these goods—ranging from electric vehicles to consumer gadgets—might overflow into the European market. Such an influx could undercut European manufacturers, impacting economic stability in major economies like France, Germany, and Italy.

“The overcapacity challenge has taken a long time, but it has finally arrived in European capitals,” remarked Liana Fix of the Council on Foreign Relations.

In response to the mounting concerns, Ursula von der Leyen, President of the European Commission, has emphasized the importance of constructive engagement with China. She acknowledges the indirect effects of the U.S.-imposed tariffs, stressing the need for vigilance in monitoring Chinese imports. A newly constituted task force will track these imports for signs of dumping, aiming to maintain market balance within Europe.

President Trump also enacted significant tariffs on European Union goods—though the trade duties have been reduced to 10 percent for a 90-day grace period while trade negotiations take place. The EU initially announced its own retaliatory tariffs, but it later caved and announced it would suspend the idea to pursue trade negotiations.

Image: European Union 2023– Source: EP.

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April 15, 2025
Jack Montgomery
UK

‘America is an Anglo Country’ — VP Vance Says Brexit Britain Has ‘Good Chance’ to Strike U.S. Trade Deal.

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❓What Happened: U.S. Vice-President J.D. Vance expressed optimism about the potential for a trade agreement with the United Kingdom, which regained control over its trade policy from the European Union (EU) following Brexit, as negotiations to end tariffs continue.

👥 Who’s Involved: U.S. Vice-President J.D. Vance, U.S. President Donald J. Trump, British Prime Minister Sir Keir Starmer, British Business and Trade Minister Sarah Jones.

📍 Where & When: Comments made during an interview with UnHerd on Monday.

💬 Key Quote: “There’s a real cultural affinity. And of course, fundamentally America is an Anglo country. I think there’s a good chance that, yes, we’ll come to a great agreement that’s in the best interest of both countries.” — Vice President J.D. Vance.

⚠️ Impact: A potential British-American trade deal may eliminate or significantly reduce tariffs, leaving Britain better placed to conduct trade with the U.S. than the European Union.

IN FULL:

Vice President J.D. Vance indicated there is a “good chance” the U.S. will reach a trade agreement with the United Kingdom. Speaking to UnHerd, Vance said, “We’re certainly working very hard with Keir Starmer’s government” on a trade deal.” Unlike the 27 national governments of the European Union (EU), which surrender control over their trade policy to the unelected European Commission, the British government can strike bilateral trade deals on its own initiative following Brexit.

“The President really loves the United Kingdom. He loved the Queen. He admires and loves the King. It is a very important relationship. And he’s a businessman and has a number of important business relationships in [Britain],” Vance explained. “But I think it’s much deeper than that. There’s a real cultural affinity. And of course, fundamentally America is an Anglo country. I think there’s a good chance that, yes, we’ll come to a great agreement that’s in the best interest of both countries,” he added.

The “Liberation Day” reciprocal tariff imposed on Britain on April 2 was initially half the tariff imposed on the EU, at 10 percent versus 20 percent. However, President Trump has now reduced all reciprocal tariffs—except China’s—to 10 percent while trade negotiations are conducted.

Sources in the United Kingdom claim significant progress has been made in discussions with the U.S., aiming for a comprehensive trade deal. This agreement would transcend tariffs, involving trade in both goods and services. Vance believes a U.S.-EU trade deal may be more challenging, as “with the United Kingdom, we have a much more reciprocal relationship than we have with, say, Germany… While we love the Germans, they are heavily dependent on exporting to the United States but are pretty tough on a lot of American businesses that would like to export into Germany.”

British Business and Trade Minister Sarah Jones responded positively to Vance’s comments, emphasizing that reducing tariffs is a priority to promote jobs and growth.

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April 14, 2025
Economy
News

Trump Partially Exempts Smartphones, Laptops from Tariffs.

PULSE POINTS:

❓What Happened: The Trump administration has granted a temporary tariff exemption for various electronics, including smartphones and laptops, amidst ongoing trade tensions with China.

👥 Who’s Involved: The Trump administration, U.S. Customs and Border Protection (CBP), and tech companies reliant on these imports.

📍 Where & When: The exemptions are effective retroactively from April 5, announced on Friday night.

💬 Key Quote: “These products are subject to the existing 20 percent Fentanyl Tariffs, and they are just moving to a different Tariff ‘bucket,'” President Donald J. Trump explained.

⚠️ Impact: The exemptions provide temporary relief for tech companies and consumers while keeping on pressure to “reshore” manufacturing to the U.S. over the longer term.

IN FULL:

The Trump administration has rolled out a temporary reprieve from some tariffs for various everyday electronics, easing pressures on tech companies and consumers while maintaining pressure on China. U.S. Customs and Border Protection (CBP) revised its tariff guidelines Friday night, itemizing 20 product categories now exempt from reciprocal tariffs.

Effective retroactively to April 5, the exemptions cover laptops and smartphones, among other electronics. On Truth Social, President Donald J. Trump explained, “NOBODY is getting ‘off the hook’ for the unfair Trade Balances, and Non Monetary Tariff Barriers, that other Countries have used against us, especially not China,” and that the products will still be “subject to the existing 20 percent Fentanyl Tariffs… they are just moving to a different Tariff ‘bucket.’ We are taking a look at Semiconductors and the WHOLE ELECTRONICS SUPPLY CHAIN in the upcoming National Security Tariff Investigations.”

The exemptions provide for refunds of tariffs collected post-April 5. Trump officials have emphasized the temporary nature of this measure, stressing potential new semiconductor-specific tariffs within months.

Desktop computers—including components like disc drives—are included in the exemption list alongside laptops and smartphones under “automatic data processing machines and units thereof.” Computer parts, solid-state drives, flat-panel display modules, routers, and various semiconductor products are also covered, accounting for sectors with high import needs and—for now—limited domestic output.

Dan Ives of Wedbush Securities called the move “a game-changer scenario when it comes to China tariffs.” China has been one of the only countries to attempt a reciprocal battle with the United States over President Trump’s new tariffs. Last week, the one-party communist dictatorship accused the U.S. of “bullying and coercion” while imposing 125 percent tariffs on American goods. However, such measures are of limited usefulness, with China as a surplus economy, selling far more to the U.S. than vice versa.

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Jack Montgomery contributed to this report.

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April 14, 2025
Jack Montgomery
Economy

Trump Tariffs Spur NVIDIA to Manufacture AI Supercomputers ‘Entirely in the U.S.’

PULSE POINTS:

❓What Happened: NVIDIA is launching U.S.-based manufacturing of AI supercomputers and Blackwell chips in Arizona and Texas, spurred by President Trump’s tariffs.

👥 Who’s Involved: NVIDIA, TSMC, Foxconn, Wistron, Amkor, SPIL, and President Donald J. Trump.

📍 Where & When: Arizona and Texas, with mass production expected to ramp up in 12-15 months, announced April 2025.

💬 Key Quote: “The engines of the world’s AI infrastructure are being built in the United States for the first time,” said NVIDIA CEO Jensen Huang.

⚠️ Impact: Trump’s tariffs are driving tech giants to invest in America, boosting jobs and economic security.

IN FULL:

NVIDIA is bringing the production of its artificial intelligence (AI) supercomputers and Blackwell chips to the United States, spurred by President Donald J. Trump’s tariff policies that incentivize domestic manufacturing. The company has partnered with TSMC, Foxconn, Wistron, Amkor, and SPIL, securing over a million square feet of manufacturing space in Arizona and Texas to build and test these advanced technologies.

In Arizona, TSMC’s Phoenix plants have begun producing NVIDIA Blackwell chips, while Foxconn in Houston and Wistron in Dallas are constructing supercomputer manufacturing facilities. Mass production is slated to scale up within the next 12-15 months. NVIDIA anticipates producing up to half a trillion dollars of AI infrastructure in the U.S. over the next four years, creating hundreds of thousands of jobs and driving trillions in economic growth.

“The engines of the world’s AI infrastructure are being built in the United States for the first time,” said Jensen Huang, NVIDIA’s founder and CEO. He emphasized that adding American manufacturing strengthens supply chain resilience and meets the soaring demand for AI technology.

President Trump’s tariffs, designed to penalize offshoring and reward U.S. investment, have pushed NVIDIA to prioritize American factories. Tariffs have disrupted reliance on overseas supply chains, encouraging tech leaders to bet on American workers instead.

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