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Trump’s Treasury secretary shuts down any tariff concerns, praises ‘frictionless global trade’
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Trump’s Treasury secretary shuts down any tariff concerns, praises ‘frictionless global trade’

By Kristen Altus  | Fox Business Less than one day after President Donald Trump signed off on a reciprocal tariff plan, the administration’s Treasury secretary shut down any economic concerns around the state of global trade. "President Trump is serious about negotiating this. And look, I don't understand why there's any pushback on this, that if they want to bring all these barriers down, then we will have more frictionless global trade," Scott Bessent said Friday in an exclusive interview on "Mornings with Maria." "As we've learned with President Trump, you should take him at his word. This is not theater," he continued. "The April 1 deadline is for a study that the Commerce Department is doing on global tariffs that apply to U.S. products country by country." READ THE F...
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Vance tells world leaders AI must be ‘free from ideological bias,’ American tech won’t be censorship tool
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Vance tells world leaders AI must be ‘free from ideological bias,’ American tech won’t be censorship tool

By Michael Dorgan | Fox Business Vice President JD Vance told world leaders in Paris on Tuesday that the United States intends to remain the dominant force in artificial intelligence (AI) and warned that the European Union's far tougher regulatory approach to the technology could cripple it.  Vance warned that the technology should be free from ideological bias and that President Donald Trump's administration would ensure that the most powerful artificial intelligence systems would be built in the United States. He added that Washington wanted to partner with the world in the industry. "We feel very strongly that AI must remain free from ideological bias and that American AI will not be co-opted into a tool for authoritarian censorship," said Vance, at his first schedule...
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Trump admin hits brakes on $5B electric vehicle charging station program
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Trump admin hits brakes on $5B electric vehicle charging station program

By Alex Nitzberg  | Fox Business The Federal Highway Administration (FHWA) pumped the brakes on a program to dole out funds to states for electric vehicle charging infrastructure. The move regarding the National Electric Vehicle Infrastructure (NEVI) program comes less than a month into President Donald Trump's second term in office. In a letter to state Department of Transportation directors dated Feb. 6, Emily Biondi, associate administrator for the Office of Planning, Environment and Realty, discussed the move. READ THE FULL STORY AT FOX BUSINESS
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Canada punches back against Trump with major tariffs of its own as trade war set to begin on Tuesday
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Canada punches back against Trump with major tariffs of its own as trade war set to begin on Tuesday

By Christopher Guly  | Fox Business Canada is responding to President Donald Trump’s 25% tariffs imposed on Saturday against its northern neighbor with its own major retaliatory measures, Canadian Prime Minister Justin Trudeau announced late Saturday night. As of Tuesday, when the U.S. tariffs take effect, Canada will impose 25% duties on about $21 billion of American goods with a further $86 billion to follow within 21 days to allow Canadian companies and supply chains to find alternatives, Trudeau told reporters at a news conference on Parliament Hill in Ottawa, surrounded by his foreign affairs, finance and public safety ministers. He said the Canadian tariffs on U.S. imports will cover a "far-reaching" range of products, including American beer, wine, bourbon, fruits and frui...
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China threatens to retaliate against Trump tariffs
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China threatens to retaliate against Trump tariffs

By Danielle Wallace  | Fox Business Beijing is threatening to retaliate against the United States as President Donald Trump's 10% tariffs on China are expected to take effect Tuesday.  The White House announced on Saturday that the Trump administration is implementing a 25% additional tariff on imports from Canada and Mexico and a 10% additional tariff on imports from China, in a move intended to hold the three countries "accountable to their promises of halting illegal immigration and stopping poisonous fentanyl and other drugs from flowing into our country."  Namely with Beijing, the White House said Chinese officials "have failed to take the actions necessary to stem the flow of precursor chemicals to known criminal cartels and shut down money laundering by transnational c...
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Costco board members donated heavily to Democrats in 2024 election cycle
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Costco board members donated heavily to Democrats in 2024 election cycle

By David Spector  | Fox Business Costco's chairman of the board donated hundreds of thousands of dollars to Democrats in the last election cycle, and multiple other board members heavily donated to Democrats as well, according to data from the Federal Elections Commission.  The grocery wholesaler is grappling with a public backlash after the board overwhelmingly came out in favor of the company's controversial DEI policies.  Chairman of the Board Hamilton E. James gave $100,000 to the Harris Action Fund in May 2023. Hamilton, who was formerly with the Blackstone Group, donated $150,000 to the Harris Victory Fund in October 2024, FEC data reveals.  READ THE FULL STORY AT FOX BUSINESS
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Trump proposes abolishment of federal income tax, bringing U.S. back to ‘richest period’ in history
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Trump proposes abolishment of federal income tax, bringing U.S. back to ‘richest period’ in history

By Kristen Altus  | Fox Business Pitching a monumental and potentially controversial proposal to his Republican allies, President Donald Trump is seemingly floating the idea of scrapping federal income taxes altogether. "We had no income tax. The income tax came in…1913. As I said in my speech last week, instead of taxing our citizens to enrich foreign nations, we should be tariffing and taxing foreign nations to enrich our citizens," Trump said during his conference address in Doral, Florida, on Monday. "It's time for the United States to return to the system that made us richer and more powerful than ever before," he added. "You know, the United States in 1870 to 1913, all tariffs. And that was the richest period in the history of the United States, relatively speaking." READ...
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The DeepSeek AI chatbot burst onto the scene: are fears about it overblown?
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The DeepSeek AI chatbot burst onto the scene: are fears about it overblown?

By Eric Revell | Fox Business Marc Andreessen, co-founder and general partner of venture capital firm Andreessen Horowitz, wrote in a post on X that "Deepseek R1 is AI's Sputnik moment," in reference to the Soviet Union's early lead over the U.S. in the Cold War era Space Race. Anthropic co-founder Jack Clark wrote in his "Import AI" newsletter, "R1 is significant because it broadly matches OpenAI's o1 model on a range of reasoning tasks and challenges the notion that Western AI companies hold a significant lead over Chinese ones." While some tech sector figures and investors in the AI space see DeepSeek's advancements as signaling the arrival of a new phase of AI competition, others are less convinced that it poses a broad challenge to the U.S. tech industry. READ THE FULL STO...
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Trump plans 10% tariffs on Chinese imports on Feb. 1
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Trump plans 10% tariffs on Chinese imports on Feb. 1

By Greg Norman  | Fox Business President Donald Trump announced he is planning a 10 percent tariff on Chinese imports on Feb. 1 over the country’s role in fentanyl trafficking.  "We're talking about a tariff of 10% on China, based on the fact that they're sending fentanyl to Mexico and Canada," Trump told reporters at the White House on Tuesday. "Probably February 1st is the date we're looking at."  When asked about a conversation he had with Chinese President Xi Jinping ahead of his inauguration this week, Trump added that "We didn't talk too much about tariffs other than he knows where I stand."  READ THE FULL STORY AT FOX BUSINESS
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Trump announces largest artificial intelligence infrastructure project ‘in history’
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Trump announces largest artificial intelligence infrastructure project ‘in history’

By Breck Dumas  | Fox Business President Donald Trump unveiled a massive artificial intelligence (AI) infrastructure project from the private sector on the first full day of his second term in office on Tuesday. During a speech at the White House, Trump announced that Softbank, OpenAI and Oracle have joined forces for a project called Stargate, to build data centers in the U.S. for powering AI.  The CEOs of all three tech firms – OpenAI's Sam Altman, Oracle's Larry Ellison, and Softbank's Masayoshi Son – joined Trump from the Roosevelt Room at the White House for the announcement. READ THE FULL STORY AT FOX BUSINESS
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