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Video: Taiwan Screw Suppliers Feel Impact of Trump’s Tariffs
new video loaded: Taiwan Screw Suppliers Feel Impact of Trump’s Tariffs
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transcript
Taiwan Screw Suppliers Feel Impact of Trump’s Tariffs
Screws from Taiwan hold together countless everyday American goods. But Trump’s tariffs are threatening the island as a manufacturing leader of the tiny, yet essential, components.
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“Our product range are mainly for residential area, from your home, from the roof, and then also from your backyard.”
US tech giant Nvidia will invest up to $100bn (£73bn) in OpenAI, the firm behind ChatGPT, the companies have announced.
Nvidia said it will supply high-performance chips needed for the processing power required by artificial intelligence (AI), of which OpenAI is a specialist.
Described as a “strategic partnership” by Nvidia, it is the latest move by two high profile tech firms in the global AI race, where China is an emerging rival.
The announcement comes after a series of high-profile investments by Nvidia, including a $5bn investment in Intel and a £2bn investment in the UK’s AI sector.
Nvidia, which is the world’s most valuable company, said its latest investment will go towards data centres for OpenAI’s “next-generation AI infrastructure”.
Jensen Huang, chief executive of Nvidia, said the funding will mark the “next leap forward and power the next era of intelligence”.
Both firms said they were already working with a broad network of collaborators focused on making the “world’s most advanced AI infrastructure”, including working with Microsoft, Oracle, SoftBank, and Stargate.
However, the dominance of US AI firms has come under threat from China – particularly with the rise of DeepSeek-R1.
Meanwhile, Nvidia has come under pressure from both the Chinese and the US governments.
China said last week Nvidia had violated its anti-monopoly laws, but did not give details of how Nvidia had breached the rules.
China also reportedly ordered its top technology companies to halt purchases of the firm’s artificial intelligence (AI) chips. Huang told the BBC at the time he was “disappointed” with the news.
It came after Nvidia and its rival AMD agreed to pay the US government 15% of Chinese revenues to secure export licences to China to undo a US government ban on AI chip sales to the country.
Nvidia’s share price closed up 4% at the end of Monday’s trading in the US.
OpenAI said it had more than 700 million weekly active users, and that its new partnership with Nvidia would “advance its mission to build artificial general intelligence that benefits all of humanity.”
It added that the details would be finalised in the coming weeks.
Sam Altman, cofounder and chief executive of OpenAI, said the partnership meant both firms would work together to “create new AI breakthroughs and empower people and businesses with them at scale”.
Greg Brockman, cofounder and president of OpenAI, said the company had been working closely with Nvidia since “the early days” of the business.
Getty ImagesUS Treasury Secretary Scott Bessent has said the US is “ready to do what is needed” to help stabilise Argentina’s escalating financial turmoil.
“All options for stabilization are on the table,” Bessent wrote on social media, calling Argentina a “systematically important US ally in Latin America”.
The message helped to calm financial markets, which have been rattled as recent election losses raise doubts about the future of Javier Milei’s cost-cutting, free-market agenda.
The value of the peso has been plunging, while investors dump Argentine stocks and bonds.
Milei, a libertarian economist and ally of US President Donald Trump, was elected president of Argentina in 2023 as an outsider candidate who promised to control soaring inflation through radical government spending cuts and other reforms.
A stable Argentine peso is critical to that pledge.
But the currency has lost value as investors move money out of the country, in part worried about the government’s ability to keep the peso steady.
In recent weeks, the Argentine central bank has stepped in to try to stave off further weakness in the peso.
But that effort, which included spending $1.1bn (£810m) of its reserves last week to buy pesos, also depleted its holdings, putting the country in a more precarious position when it comes to paying back its debt.
Bessent said the US government was considering intervening in Argentina’s current fiscal turmoil with purchases of Argentine pesos and dollar-denominated government debt among other forms of support.
More details will be announced after President Donald Trump meets with Milei in New York on Tuesday, he added.
“We remain confident that [President Milei’s] support for fiscal discipline and pro-growth reforms are necessary to break Argentina’s long history of decline,” he wrote.
Milei expressed “enormous gratitude” for the US’s pledge of support, which helped lift Argentine stocks and prices for the country’s dollar-denominated debt in financial markets.
“Those of us who defend the ideas of freedom must work together for the welfare of our peoples,” he wrote on social media.
Milei was the first foreign leader to meet with Trump after his victory in the November 2024 US presidential election and his economic policies have won him admiration among many conservatives in the US, including Elon Musk.
But he has been on the defensive at home, especially in recent weeks, as his government has been grappling with losses in recent local elections and a bribery scandal involving his sister, who is accused of taking kickbacks from drug companies seeking government contracts.
Argentina will host national mid-term elections in October, which are expected to serve as a referendum on his controversial policies, which include cuts to social programmes such as subsidies for transportation.
In April, Bessent also provided key backing to help Argentina secure a new $20bn four-year loan from the the International Monetary Fund.
NEW DELHI: Ultra Gas & Energy Ltd (UGEL), a new-age clean-tech venture of the Essar group, plans to invest Rs 900 crore to expand its LNG (liquefied natural gas) retail network for freight carriers to 100 outlets across India, the company said on Monday.It has already commissioned six refuelling stations along major freight corridors. These are located in Bhilwara (Rajasthan), Anand (Gujarat), Chakan-Pune (Maharashtra), Jalna (Maharashtra), Toranagallu (Karnataka), and Vallam (Tamil Nadu), making the clean-burning fuel accessible to freight carriers serving key industrial and logistics hubs.Each outlet is future-ready with integrated infrastructure to support EV (electric vehicle) charging as part of the company’s long-term vision of creating a bouquet of multi-fuel, low-emission mobility solutions. work on building outlets in Gujarat, Tamil Nadu, Maharashtra, Rajasthan, Haryana, Punjab, Karnataka, Odisha, Chhattisgarh and Jharkhand are in progress. Each UGEL station has a scalable capacity of 50 tonnes, capable of refuelling up to 600 LNG trucks per month. Each station can reduce up to 66,000 tonnes of CO₂ emissions annually, collectively reducing 1 million tonnes of CO₂.To ensure uninterrupted operations, UGEL has partnered with IOCL, GAIL, HPCL and other leading LNG suppliers with access to all major LNG terminals of India, ensuring consistent fuel supply and enabling smooth scalability.Strategically placed to serve high-density logistics zones, these stations are accelerating the shift from diesel to LNG – a cleaner and more efficient fuel for long-haul trucking.“Our retail outlets are catalysts for a cleaner, smarter logistics future. Backed by robust infrastructure and intelligent energy solutions, we are proud to lead India’s transition toward greener fuels and sustainable mobility. UGEL vision is firmly rooted in innovation, efficiency, and environmental responsibility,” a company statement quoted CEO Maqsood Shaikh as saying.By enabling commercial fleet to shift away from high-emission fuels to cleaner alternatives such as LNG and electric power, UGEL is delivering both environmental and economic value to its customers, the company said.
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