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Yahoo
19 minutes ago
- Yahoo
Merz says US-EU trade deal falls short but was best achievable
-- German Chancellor Friedrich Merz expressed dissatisfaction with the outcome of trade negotiations between the European Union and the United States, but said that "more simply wasn't achievable." Merz added that the agreed tariffs would inflict "significant" damage on the German economy. The trade agreement announced Sunday establishes a 15% import tariff on most EU goods, which is lower than the 30% previously threatened by U.S. President Donald Trump but considerably higher than the zero-tariff arrangement initially sought. Speaking at a Berlin press conference on Monday, Merz highlighted that the deal reduces the existing tariff rate on Europe's automotive sector from 27.5% to 15%, benefiting a crucial component of Germany's economy. "But I am fully aware that the tariffs that remain — particularly the 15% versus 0% for imports into the EU — pose a serious burden for Germany's export-oriented economy," Merz said. The German leader acknowledged the European Commission's "tireless negotiations" with U.S. officials, noting the particular involvement of the German, French, and Italian governments in the process. "I personally did not expect more than this result," Merz added. Related articles Merz says US-EU trade deal falls short but was best achievable Clients buying into summer rally, bracing for later pullback, says BofA's Hartnett After soaring 149%, this stock is back in our AI's favor - & already +25% in July Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Forbes
21 minutes ago
- Forbes
What All Is Jensen Huang Really Saying About AI?
WASHINGTON, DC - APRIL 30: President and CEO of Nvidia Jensen Huang speaks on AI at the return of ... More American manufacturing at the Hill and Valley Forum at the U.S. Capitol on April 30, 2025 in Washington, DC. The Hill and Valley Forum brings together lawmakers, tech CEOs, and venture capitalists to discuss technology and national security. (Photo by) Recently, Jensen Huang, the CEO of Nvidia, joined the people at the All In podcast for a wide-ranging discussion about where we're headed with artificial intelligence. This convo took place in a very particular context: at the zenith of a banner year for AI, executives (and everybody else) are wondering what to do with this technology, how it relates to their companies, and their jobs. The headlines keep coming: the first robot-assisted surgery, robots racing in marathons in Beijing, professionals laid off due to automation of their very complex jobs. Huang Dishes on the Industry The podcast interaction actually started on fashion, with Huang revealing that he owns 50 or 60 Tom Ford jackets, and that his wife has a lot of say in how he dresses. With those preliminaries out of the way, talk quickly turned to the state of the global economy. In terms of analysis of the current AI market, which is getting a lot more attention than fashion in many places, here's some of what Huang brought up. The Jobs Struggle First, Huang talked about job displacement, and how people are going to use AI across the board to be more productive. In some cases, he said, the new technology may create jobs, by allowing people to go after bigger ideas. To me, this sounded a lot like Sam Altman's old invocation of the lamplighter, the man who used to light the gas lamps, and how the new inevitably replaces the old. He also called AI the 'great equalizer,' likening it to the Internet, which, he noted, equalized business in terms of location and distribution. AI, he added, does this in other aspects of enterprise, like talent. 'Everybody is a programmer now,' he said. 'Everybody is an author.' New types of jobs, he suggested, will arise to replace the old, but not without a significant need for reskilling. One thing, he said, is for sure – people who don't learn AI will have their jobs taken by people who do know how to use AI. More on Productivity and Performance Later in the conversation, Huang used the terms 'perf per watt' and 'perf per dollar,' which is a sort of interesting shorthand for these kinds of analysis. The industry, he said, wants to drive costs down on 'thinking AI,' which is going to unlock all kinds of opportunity the likes of which we have not yet dreamed of. As for hardware, he suggested items like Nvidia's Hopper chips are going to be quickly obsolete, partially because the company's CUDA architecture is so programmable. He also notified the audience that he has some extra Hoppers on hand, if anyone is interested in buying. Given the state of the market, that was likely a tongue in cheek comment, but one thing's for sure: people ARE buying. Addressing Elon Musk's projection of 50 million H100 equivalents in five years, Huang said he's bullish on American manufacturing and development, with TSMC in Arizona and other initiatives. 'This is unquestionably the most tech-intensive country in the world,' he said of America, calling AI a 'national treasure.' Huang likes, in particular, the American president's Action Plan for AI and energy production. More Predictions There was a lot more about domestic manufacturing, on-shoring, and innovation. Listen for Huang's assessment of the 'Deepseek moment' when Americans were perhaps most worried about China. In terms of robotics, Huang is bullish. 'Everything that moves will be autonomous someday,' he said, noting that every company will have two factories: one for production, and one to produce the AI that manages production. Last, but not least, he addressed questions about alleged talent poaching by Meta and programmers or research people getting seven or more figures. Huang said his people get paid pretty well, and that, in his regular compensation assessments, he always recommends 'more (spending) on opex.' So there you have it: a pretty unambiguous set of predictions. We'll have new jobs, new business models, new compensation plans, and robust domestic markets. For anyone who values the observations of a top innovator, this is something to keep handy.
Bloomberg
21 minutes ago
- Bloomberg
Trump Takes Victory Lap on EU Trade Deal as Tariff Deadline Looms
Michelle Shulz, founder and managing partner of Schulz Trade Law, breaks down how the back and forth on tariffs is impacting the decisions businesses are making and why a trade agreement with the EU may not be a fully done deal quite yet. (Source: Bloomberg)
