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Posted March 25, 2025 at 10:45 am
Foreign officials and tech executives urge Trump to rethink AI chip rule
Catch up on the top industries and stocks that were impacted, or were predicted to be impacted, by the comments, actions and policies of President Donald Trump with this daily recap compiled by The Fly:
President Donald Trump said tariffs are coming soon even as he indicated not all of his threatened levies will be imposed on April 2 and some countries may receive breaks. Andrea Shalal, David Lawder and Timothy Gardner of Reuters report. Additionally, Trump slapped 25% secondary tariffs on any country that buys oil or gas from Venezuela. Publicly traded automakers include Ford (F), General Motors (GM), Honda (HMC), Mercedes-Benz (MBGYY), Nissan (NSANY), Stellantis (STLA), Tesla (TSLA), Toyota (TM) and Volkswagen (VWAGY). Publicly traded companies in the oil or gas space include PBF Energy (PBF), Chevron (CVX), Exxon Mobil (XOM), and Valero (VLO).
Senior foreign officials and technology companies are asking the Trump administration to rethink the country’s global semiconductor strategy, Mackenzie Hawkins and Jenny Leonard of Bloomberg report. The AI diffusion rule, which restricts the number of AI processors that can be exported to most nations, was unveiled by the Biden administration, but tech giants and US allies have chafed the rules. Several governments and companies are now trying to persuade President Donald Trump’s team to loosen some of the regulations before the deadline for compliance arrives. Publicly traded companies in the space include Nvidia (NVDA), AMD (AMD), Intel (INTC), Marvell (MRVL), Microchip (MCHP), Micron (MU), Qualcomm (QCOM) and Texas Instruments (TXN).
Malaysia plans to tighten chip rules and says Washington demanded it track high-end Nvidia chips entering the country, over suspicions that many end up in China, violating U.S. export rules, The Financial Times’ Owen Walker and Alec Russell report. Trade minister Zafrul Aziz says he has formed a task force with digital minister Gobind Singh Deo to tighten regulations around Malaysia’s data center sector, which relies on chips from Nvidia. ” asking us to make sure that we monitor every shipment that comes to Malaysia when it involves Nvidia chips,” Zafrul told the Financial Times.
Trump Media and Technology Group (DJT) announced it has signed a non-binding agreement to partner with Crypto.com to launch a series of exchange-traded funds and exchange-traded products through the Truth.Fi brand. “The ETFs, made available through Crypto.com’s broker dealer Foris Capital US LLC, are expected to comprise digital assets as well as securities with a Made in America focus spanning diverse industries such as energy. Crypto.com will support the backend technology, provide custody, and supply the cryptocurrencies for the ETFs, which are anticipated to include a unique ETF basket of cryptocurrencies incorporating Bitcoin, Cronos, and other crypto assets. Planned to launch later this year subject to definitive agreement and regulatory approval, the funds are expected to be widely available internationally including in the United States, Europe, and Asia, across existing platforms and brokerages,” the company stated.
TMTG CEO and Chairman Devin Nunes said, “We’re excited to join Crypto.com, along with our partner Yorkville America, to launch America First investment products supporting innovative crypto ventures, great American companies, and cutting-edge technologies. We aim to create inventive funds incorporating firms that concentrate on rapid growth, technological innovation, and strengthening the U.S. economy, unencumbered by woke nonsense and political posturing. Investors will finally have options that adhere to their principles and that support superior U.S. companies precisely focused on their core businesses.” The ETFs are planned to launch alongside a slate of Truth.Fi Separately Managed Accounts. The ETFs and SMAs, both of which TMTG is planning to invest in via its own cash reserves, are part of a TMTG financial services and FinTech strategy using up to $250M to be custodied by Charles Schwab (SCHW).
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Originally Posted March 25, 2025 – Trump Trade: Auto tariffs coming, not all to be imposed on April 2
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