GoKawiil
Tech News
Treasury Secretary Scott Bessent met with Chinese Vice Premier He Lifeng in New York to discuss economic and trade issues, including AI, tariffs and rare earths, ahead of a planned summit between President Trump and Chinese President Xi Jinping in Washington. U.S. Trade Representative Jamieson Greer also joined the discussions, which Bessent described as laying the groundwork for the leaders' meeting.
European Commission President Ursula von der Leyen proposed granting Canada associate membership in the EU, a first-of-its-kind status meant to deepen ties as U.S. pressure pushes Ottawa toward Europe. President Trump called the plan a 'hostile act' and warned he would respond with additional tariffs on the bloc.
The Federal Reserve raised interest rates on Wednesday for the first time since 2023, increasing borrowing costs for consumers just as prices for electronics, groceries and housing have been climbing for the past year and a half. Economists note that even if the Fed succeeds in slowing inflation toward its 2% target, existing price increases won't reverse, meaning consumers face a higher cost baseline going forward.
Mastercard's newly appointed marketing chief is reworking the company's longtime 'Priceless' branding into a global campaign centered on small businesses. The initiative comes as small firms grapple with rising energy costs tied to Middle East conflict, tariff-driven supply chain disruptions, and increasing labor expenses.
A new executive order prohibits installing foreign-produced bulk-power system equipment deemed a national security threat, explicitly naming battery energy storage systems, inverters and transformers. This follows earlier measures including 2022 tax credit restrictions tied to sourcing of battery minerals and components, a 2025 rule requiring 55% non-Chinese materials for storage projects starting in 2026, and tariffs on batteries that rose to 25% from 7.5% in January.
A Boeing 767-300 cargo plane operated by 21 Air under Amazon's Prime Air branding overshot the runway at Miami International Airport on Sunday and caught fire. At least five people died and five more were injured, forcing the airport to shut down its runways temporarily.
President Trump imposed a 100 percent tariff on large foreign-made drones, particularly targeting Chinese models used widely by American police departments. Officials like Lake County Drone Unit chief Scott Mlakar say the tariffs will make it financially difficult for many communities to buy or replace drones used for tasks like locating suspects and missing children. The FCC is also weighing classifying some drone technologies, such as lidar, as military-grade, further restricting access.
The Trump administration's new tariffs took effect September 3, imposing rates as high as 100% on drones over 55 pounds, thermal-imaging models, docking stations, and critical parts like airframes and control boards. Smaller, less-capable drones and other components face a 25% rate, while allied nations such as the EU, Japan, South Korea, Switzerland, Taiwan and the UK get preferential rates of 10-15% if their supply chains are substantially domestic or American.
Treasury Secretary Scott Bessent said 19 G20 members agreed at a finance ministers meeting to address a flood of underpriced exports distorting global trade, with China the sole holdout. He identified China as running the world's largest current account surplus and said its practices were unsustainable for global markets.
Treasury Secretary Scott Bessent opened G20 finance minister talks in Asheville, North Carolina, seeking backing for new sanctions on Iran, including targeting another bank as part of an effort he calls 'Operation Economic Outcast.' The meeting unfolds against a backdrop of renewed U.S.-Iran hostilities and strained trade relations with allies like Canada following tariff escalations.
South Korean officials have dismissed a House Judiciary Committee GOP report accusing them of unfairly targeting Coupang, the Seattle-based e-commerce firm often called Korea's Amazon, over a data breach. The report followed South Korean hearings, threats of criminal charges against Coupang's interim CEO, and a record data-privacy fine, actions Coupang says were disproportionate to what it calls a minor breach. Congressional sources and people close to Coupang tell CNBC the standoff is now souring US-South Korea relations and could trigger retaliatory measures.
The Trump administration is weighing new tariffs on semiconductors, prompting pushback from tech lobbyists who say the move would raise chip costs and slow data-center construction. Industry representatives argue that domestic chip manufacturing capacity is years away from meeting soaring demand, making the tariffs impractical. The Computer and Communications Industry Association warned that the resulting cost increases and uncertainty could jeopardize the ongoing data-center expansion.