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Business Standard
7 minutes ago
- Business Standard
Tech curbs? Not today: Trump courts China with chip diplomacy
Donald Trump paused planned curbs on Nvidia's H20 chip exports to China, prioritising trade ties and a Xi Jinping summit despite warnings from security experts and ex-officials New Delhi US President Donald Trump has reportedly paused new technology export restrictions on China in an effort to preserve ongoing trade negotiations and secure a meeting with Chinese President Xi Jinping. The move, which reportedly followed lobbying from chipmaker Nvidia, has drawn sharp criticism from national security experts who say it risks aiding China's military AI capabilities. What's the latest According to a Financial Times report, Trump's administration has directed the US Commerce Department's Bureau of Industry and Security (BIS) to hold back on introducing tougher export controls on China in recent months. A key turning point came when Nvidia CEO Jensen Huang personally lobbied against a planned ban on the H20 chip, designed for the Chinese market. The administration reversed course, fearing Chinese retaliation and disruption to trade talks. In May, China imposed its first-ever restrictions on exports of rare earths and magnets, intensifying concerns in Washington about economic retaliation. What it matters Critics argue the freeze on export controls undermines America's national security and technological edge, the news report said. A group of 20 security experts and former officials are set to send a letter to Commerce Secretary Howard Lutnick, warning against allowing H20 exports. 'This move represents a strategic mis-step that endangers the United States' economic and military edge in artificial intelligence,' the letter reads. The advocacy group Americans for Responsible Innovation helped coordinate the effort. The group believes that the H20 chip could significantly accelerate China's military capabilities by outperforming the more restricted H100 chip in "inference", the execution phase of AI tasks. James Mulvenon, an expert on China's military, said the issue extends beyond one chip or company. 'These decisions will determine which political system, which values, will ultimately control the most powerful technology in the history of the world,' he said, as quoted by the news report. Pushback from Nvidia Nvidia defended its position, calling the criticism 'misguided' and inconsistent with Trump's AI action plan, which emphasises US leadership in global AI exports. The company said that the H20 'will not enhance anyone's military capabilities, but will help America win the support of developers worldwide". Delays and internal frustration
India.com
7 minutes ago
- India.com
Donald Trump closes 'biggest ever' trade deal with European Union; to impose tariff of..., sell weapons to...
President Donald Trump shakes hands with European Commission President Ursula von der Leyen in Turnberry, Scotland, on July Delhi: A big and historic trade agreement has been announced by the US President Donald Trump between the USA and the European Union (EU). Trump has described this agreement as the 'biggest trade agreement ever', which will prove beneficial for both sides. What did Trump say about tariff on EU? Trump said on this occasion that under this agreement, the markets of all countries will be opened, and 15 percent tariffs will be imposed on the European Union in all areas. Along with this, the EU will also increase the purchase of military equipment from America. In the energy sector too, the European Union will buy energy worth about $ 150 billion from America, which will strengthen the economic cooperation of both sides. What does the deal require EU to do? Apart from this, the European Union will invest $ 600 billion in America, which will also strengthen the US economy. Under this deal, the existing duty system already applicable on steel and aluminium will continue. A new announcement will be made under section 232 within the next two weeks regarding the chips or semiconductor sector, which will be a big initiative for this industry. How did EU president describe the deal? European Union President Ursula von der Leyen described the agreement as bringing stability and said that it will establish better trade relations between the two sides. Also, she said that new policies related to the chips sector will come out soon. This trade agreement is considered an important step to reshape economic relations at the global level and promote trade cooperation. Both sides hope that this will take economic growth and stability to new heights. This deal will not only strengthen US-Europe relations but will also open the door to new opportunities in global trade.
Time of India
37 minutes ago
- Time of India
America is slipping behind India's clean power boom
Once upon a time, the US was the sole clean energy superpower . Until 2011, it led the world in connecting wind and solar generators to the grid. Then China took over, to a point where its lead now looks unassailable: The People's Republic added eight times more renewables than the US last year. This year, India is likely to overtake too. The country connected 22 gigawatts of wind and solar in the first half — a dramatic recovery from a troubling slowdown in 2022 and 2023, and enough at full output to power nearly one-tenth of the grid. Assuming this is maintained through December, that should put India ahead of the 40 GW that the US government expects this year. It's also setting the world's most populous nation on course to hit a target of Prime Minister Narendra Modi's that once seemed implausible: to reach 500 GW of non-fossil generation by 2030. Such a shift will herald the dawn of a new clean energy superpower, and give the world some of its best hopes of averting disastrous climate change. It's a remarkable turnaround for a country whose renewable industry looked like a lost cause barely more than a year ago. What happened? One factor is financing. Easing inflation has allowed the Reserve Bank of India to cut its policy rate by a percentage point since December to the lowest in three years. This reduces the price of renewables, which are particularly exposed to debt costs. Regulatory deadlines have also played a role: A waiver on transmission charges for wind and solar expired at the end of last month, causing developers to rush to complete their builds in time to get the financial benefit. The end of that waiver may cause a wobble for the sector over the next year or so, but the changes will be introduced slowly. Over the balance of the decade there's now good reason to think the recent pace can be sustained. The rash of projects breaking ground this past year means about 414 GW of clean power is already either operating or under construction, including nuclear and hydroelectric plants. That's not far off the 500 GW target, and we've still got more than five years to go. Industrialists are counting on it. Solar panel manufacturing has been ramping up to the point where it now runs far in excess of domestic demand, at 91 GW. With lower tariffs into the US than their rivals in China and Southeast Asia, this excess of supply might make local panel makers rare beneficiaries of President Donald Trump's war on clean energy. That certainly seems to be the assumption of a group of US competitors, who last week sought anti-dumping measures to keep Indian products out of their market. For many years, India had a skeptical take on the energy transition, arguing since the 1970s that poverty was a more pressing problem than protecting the environment. The difference now is that zero-carbon power is decisively cheaper than the competition. Rising incomes, meanwhile, mean the government needs to also think about the needs of roughly half a billion middle-class citizens, who worry more about where to find a good job in a clean, livable city than the basics of subsistence living. India is still building coal-fired power plants to make sure those newly-minted urbanites don't suffer power cuts in the middle of punishing heatwaves, but they're not necessarily being used. Thanks to milder weather than in recent years and the rising volumes of renewables pushing it off the grid, fossil-fired power generation fell 4% in the first half relative to 2024. That's the first time it has dropped since the Covid-19 pandemic hit in 2020, and occurred even as electricity generation rose 0.8%. Retirements of old plants mean that fossil-generation capacity has actually declined slightly so far this year. It's still possible that emissions from India's power sector won't peak until well into the 2030s. Even so, the faster rollout of renewables, combined with declining pollution from China and the rich world, means the global picture is improving faster than you'd realize if you were focused only on the steampunk posturing in Washington. Renewable power isn't just cleaner — it's cheaper, and more suited to the aspirations of the billions in the Global South who want a better, healthier life. Rich nations like the US can afford the indulgence of a campaign against modern energy, at least until their citizens realize how badly they're being shortchanged. It's a fatal myopia, though. For all Trump likes to boast of energy dominance, America is falling behind on the most important energy technologies of the 21st century.
