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High Drama and Big Impact: Trump’s Bold Tariff Plans and What to Expect

Expect significant new tariffs on Chinese imports and moderate levies on goods from other nations , as President-elect Donald Trump rolls out his protectionist agenda. However, with his preference for chaotic policymaking and sudden shifts , there’s uncertainty on how soon these import taxes will actually hit. Dubbed “ Tariff Man ,” Trump aims to use tariffs both strategically and tactically . He’s mentioned taxing all Chinese goods up to 60% and potentially setting 10%-20% tariffs on imports globally , but details on these plans remain vague . Key players within Trump’s team are divided: Robert Lighthizer , a staunch tariff advocate, sees permanent duties as crucial to balance US trade , while others, like billionaires John Paulson and Scott Bessent , view tariffs as temporary leverage. Trump’s previous administration had mixed feelings, especially on national security-related trade limits , which he sometimes dismissed, favoring an “open for business” approach. High-profile busin
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China's AI Chip Leader Soars 20% as Beijing Pushes for Local Alternatives to Nvidia

 

Cambricon Technologies Corp., a leading Chinese AI chipmaker, surged to its 20% daily limit on Monday, spurred by news that Beijing is increasing pressure on domestic firms to replace Nvidia Corp. processors with local options. The stock rally was part of a broader trend among semiconductor companies, with Semiconductor Manufacturing International Corp. (SMIC) rising nearly 20% in Shanghai and Naura Technology Group Co. climbing 9%.

Chinese regulators have advised companies against purchasing Nvidia’s H20 chips, which are crucial for developing and running AI models. This guidance aims to bolster domestic chipmakers while avoiding overt restrictions that could hinder local AI startups and escalate tensions with the US.

The Chinese government is intent on helping local AI chipmakers like Cambricon and Huawei Technologies gain market share, especially in light of potential future restrictions from the US. Earlier this year, Beijing also encouraged local electric vehicle manufacturers to source more components from domestic suppliers, aligning with its goal of achieving self-sufficiency in critical technologies.

In response to the regulatory shift, Nvidia's shares fell by 2% last Friday, reflecting the growing concerns about the company's market position in China.

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