President Donald Trump said Monday that he would allow Nvidia to sell an advanced type of computer chip used in the development of artificial intelligence to “approved customers” in China.
There have been concerns about allowing advanced computer chips to be sold to China as it could help the country better compete against the U.S. in building out AI capabilities, but there has also been a desire to develop the AI ecosystem with American companies such as chipmaker Nvidia.
Nvidia said in a statement that it applauded Trump’s decision, saying the choice would support domestic manufacturing and that by allowing the Commerce Department to vet commercial customers it would “strike a thoughtful balance” on economic and national security priorities.
But a group of Democratic senators objected to the chip sales.
Here’s the latest:
Trump wants Thomas and Alito to stick around on the Supreme Court
The president says he hopes the two eldest members of the Supreme Court, who were nominated by Republican presidents, don’t leave the bench.
He was asked during a Politico interview whether he would want Justices Clarence Thomas, 77, and Sam Alito, 75, to retire so Trump could tap their younger successors.
Trump dismissed the idea.
“I hope they stay ’cause I think they’re fantastic, OK?” Trump said in the interview published Tuesday morning. “Both of those men are fantastic.”
Trump says he’s fixing affordability problems. He’ll test out that message at a rally
Trump will road-test his claims that he’s tackling Americans’ affordability woes at a Tuesday rally in Mount Pocono, Pennsylvania — shifting an argument made in Oval Office appearances and social media posts to a campaign-style event.
The trip comes as polling consistently shows that public trust in Trump’s economic leadership has faltered. Following dismal results for Republicans in last month’s off-cycle elections, the White House has sought to convince voters that the economy will emerge stronger next year and that any anxieties over inflation have nothing to do with Trump.
The president’s reception in the county hosting his Tuesday rally could give a signal of just how much voters trust his claims. Monroe County flipped to Trump in the 2024 election after having backed Biden in 2020, helping the Republican to win the swing state of Pennsylvania and return to the White House after a four-year hiatus.
▶ Read more about Trump’s upcoming rally
Federal Reserve set to cut rate but may signal a pause to come
The Federal Reserve faces an unusually contentious meeting this week that will test Chair Jerome Powell’s ability to corral the necessary support from fellow policymakers for a third straight interest rate cut.
The Fed’s 19-member rate-setting committee is sharply divided over whether to lower borrowing costs again. The divisions have been exacerbated by the convoluted nature of the economy: Inflation remains elevated, which would typically lead the Fed to keep its key rate unchanged, while hiring is weak and the unemployment rate has risen, which often leads to rate cuts.
Some economists expect three Fed officials could vote against the quarter-point cut that Powell is likely to support at the Dec. 9-10 meeting, which would be the most dissenting votes in six years. Just 12 of the 19 members vote on rate decisions. Several of the non-voting officials have also said they oppose another rate cut.
▶ Read more about the potential rate cut
Supreme Court weighs Republican appeal to end limits on party spending in federal elections
The Supreme Court is considering a Republican-led drive, backed by Trump’s administration, to overturn a quarter-century-old decision and erase limits on how much political parties can spend in coordination with candidates for Congress and president.
A day after the justices indicated they would overturn a 90-year-old decision limiting the president’s power to fire independent agency heads, the court is revisiting a 2001 decision that upheld a provision of federal election law that is more than 50 years old.
Democrats are calling on the court to uphold the law.
The limits stem from a desire to prevent large donors from skirting caps on individual contributions to a candidate by directing unlimited sums to the party, with the understanding that the money will be spent on behalf of the candidate.
The Federal Election Commission and the GOP argue that the court should cast a skeptical eye on the limits, in line with recent high court decisions. Led by Chief Justice John Roberts, a conservative majority has upended a variety of congressionally enacted limits on raising and spending money to influence elections.
▶ Read more about the decision
Trump approves sale of more advanced Nvidia computer chips used in AI to China
Trump said Monday that he would allow Nvidia to sell an advanced type of computer chip used in the development of artificial intelligence to “approved customers” in China.
There have been concerns about allowing advanced computer chips to be sold to China as it could help the country better compete against the U.S. in building out AI capabilities, but there has also been a desire to develop the AI ecosystem with American companies such as chipmaker Nvidia.
Nvidia said in a statement that it applauded Trump’s decision, saying the choice would support domestic manufacturing and that by allowing the Commerce Department to vet commercial customers it would “strike a thoughtful balance” on economic and national security priorities.
But a group of Democratic senators objected to the chip sales.
▶ Read more about the sales
