🎧 Will Neighborhoods Be Safer Under Patel's FBI? Key Metrics to Watch
Sam Dorman delves into the Court of International Trade and its latest order to block President Donald Trump's tariffs.
Jacob Burg explores who Goliath is in the ongoing Harvard v. Trump battles.
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FBI Deputy Director Bongino Says Bureau Looking at Several Cases Involving 'Potential Public Corruption' (
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FBI Leaders Say Video Shows Jeffrey Epstein Died by Suicide, Will Release Footage (
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Federal Trade Court Blocks Trump's 'Liberation Day' Tariffs (
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Judge Extends Block on Trump Admin's Bid to Bar Foreign Students at Harvard (
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Business Insider
a few seconds ago
- Business Insider
China says it wants the world to work together to govern AI. The US, not so much.
At this weekend's World Artificial Intelligence Conference in Shanghai, boxing robots thrilled the crowd. But the real heavyweight bout is between the US and China over the future of AI. The theme of the Shanghai conference, which was organized in part by the Chinese government and lasts until Monday, is "global solidarity in the AI era." In his keynote address, Chinese Premier Li Qiang called for a new global organization to coordinate responses to AI advancements. "Overall, global AI governance is still fragmented. Countries have great differences, particularly in terms of areas such as regulatory concepts, institutional rules," he said, speaking in Chinese. "We should strengthen coordination to form a global AI governance framework that has broad consensus as soon as possible." Li's pitch contrasted with comments made by US President Donald Trump earlier in the week. On Wednesday, the US president released his " AI Action Plan" and signed three executive orders. All of them, Trump said, were designed to free AI companies from regulatory burdens. "From this day forward, it'll be a policy of the United States to do whatever it takes to lead the world in artificial intelligence," he said before signing his executive orders. Trump's doctrine will likely benefit American AI companies. Many of them, like OpenAI, Meta, and Google DeepMind, submitted recommendations to the president and praised the new policies. However, it's an open question whether forgoing stricter regulations in the United States will benefit humanity. AI industry leaders have long warned about the threats AI could pose — everything from disinformation and economic inequality to total loss of all human control. In 2023, a group of prominent AI scientists, including OpenAI CEO Sam Altman, Google DeepMind CEO Demis Hassabis, and Anthropic CEO Dario Amodei, signed a one-sentence statement calling for AI regulation. "Mitigating the risk of extinction from AI should be a global priority alongside other societal-scale risks such as pandemics and nuclear war," it said. Altman said last year that AI could have a "negative impact way beyond the realm of one country." He said the tech should be regulated by an "international agency looking at the most powerful systems and ensuring reasonable safety testing." One way to do that is through an agreed-upon global framework similar to the Nuclear Nonproliferation Treaty, which is enforced by the United Nations and which all but four countries have signed. The UN tech chief, Doreen Bogdan-Martin, told the AFP on Saturday that the world urgently needed a global deal to regulate AI. "We have the EU approach. We have the Chinese approach. Now we're seeing the US approach. I think what's needed is for those approaches to dialogue," she said. The Trump administration, however, is likely to hinder any such international agreement. Beyond its own effort to loosen restrictions at home, it has largely dismissed other global collaborations in favor of its America First policy. At the Shanghai conference, Geoffrey Hinton, a computer scientist known as the Godfather of AI, said international cooperation on AI would be difficult. He said few countries agree on basics like how misinformation should be policed. He said there was one subject, however, on which the whole world seems aligned: Humans should not let AI supersede their control. "So on that particular issue, it should be easy to get international collaboration," he said at the conference, adding, however, that it "may be difficult with the current US administration." "But rational countries will collaborate on that," he said.
Wall Street Journal
11 minutes ago
- Wall Street Journal
Stock-Market Today: Dow Futures Rise After Trump Strikes EU Deal — Live Updates
Trade-deal progress is buoying markets again. U.S. stock futures and European indexes rose after President Trump reached a trade agreement Sunday with the European Union, marking his biggest deal so far. The dollar strengthened against the euro. The U.S. will set a baseline tariff of 15% for European goods, including automobiles. The steel and aluminum levies of 50% will remain unchanged, and the EU has agreed to buy $750 billion worth of U.S. energy products. The news comes with less than one week to go before the White House's Aug. 1 deadline for making deals. Several trading partners, including Canada, Mexico, India and South Korea, are yet to strike deals. Treasury Secretary Scott Bessent is expected to meet Monday and Tuesday with Chinese officials, with a view to extending the countries' trade truce, set to expire on Aug. 12. Trump hopes to open up China to more American business and technology. "When Japan broke down and made a deal, the EU had little choice. The biggest piece in the trade deal puzzle still remains, and the Chinese are unlikely to be as willing to fold," Jamie Cox, managing partner for Harris Financial. Later in the week, the Federal Reserve is set to give its latest interest-rate decision. Despite Trump's pressure to cut rates, no change is expected.
CNBC
32 minutes ago
- CNBC
U.S. trade deal offers initial relief but leaves Europe on the backfoot
After an initial sigh of relief at the U.S. and European Union avoiding further escalation by striking a trade agreement, concerns have grown that the framework deal is "unbalanced" and leaves Europe on the backfoot. The two trading partners on Sunday announced an agreement that includes a 15% tariff rate on most EU goods to the U.S. Some goods like aircraft components and certain chemicals are not set to be hit by tariffs, while autos will see duties reduced to the 15% rate. The agreement also includes provisions for the EU purchasing U.S. energy and increasing its investments in the country. The agreement halves the 30% tariff rate U.S. President Donald Trump had threatened the EU with and avoids any further escalation through for example countermeasures. Yet analysts and economists remain cautious as to the impact on both sides as negotiations are still set to take place. "It's a climb down from a much worse place," Cailin Birch, global economist at The Economist Intelligence Unit, told CNBC's "Europe Early Edition" on Monday. However, she noted, "a 15% tariff is still a big escalation from where we were pre-Trump 2.0." Birch also pointed out that a lot of uncertainty remains, with details about the steel and pharmaceutical sector still being unclear. European leaders struck similar notes overnight, with German Chancellor Friedrich Merz saying that while the EU was able to protect its core interests, he would have welcomed further easing of transatlantic trade. France's minister for Europe, Benjamin Haddad, meanwhile said in a Google-translated social media post that while the deal would bring "temporary stability" to some sectors, it is "unbalanced" overall. Holger Schmieding, chief economist at Berenberg, warned that while the "crippling uncertainty" was over, the damage for Europe is more frontloaded in comparison to the long-term impact on the U.S. "The deal is asymmetric. The US gets away with a substantial increase in its tariffs on imports from the EU and has secured further EU concessions to boot. In his apparent zero-sum mentality, Trump can claim that as a "win" for him," he said. As it will take some time for U.S. consumers to feel the impact of tariffs, Trump's supporters may not immediately realize they are being hurt by the president's policies, Schmieding explained. This may encourage Trump to continue to pursue economic policies that are "bad" for the U.S., he added. The Economist Intelligence Unit's Birch meanwhile pointed out that the U.S. also did not get everything it may have wanted from the deal. "Both sides are, are kind of set back a bit from this deal," she said. "The U.S. didn't make any headway on a lot of issues that have in recent history been critical to their trade approach to the EU. So agricultural standards, the tech industry regulating standard that has been a big bugbear, there was no real mention of those standards whatsoever," Birch explained, acknowledging that the deal is not yet done.
