Commerce
Are We Sure Trump Wants Republicans to Win the Midterms?
Politics Trump's Trade War Is the Latest Middle Finger to Senate Republicans It was about to be a good week to be a GOP candidate. Then Trump did what Trump does. Become a member to share 10 free articles a month. Welcome to this week's edition of the Surge, which was off last Saturday so will now catch you up on the previous week's news: . August "silly season" continues with the usual slapstick stories about international trade wars and a possible Russian attack against NATO.
Carney matches Trump tariffs with 50% tax on U.S. dairy, steel
Carney matches Trump tariffs with 50% tax on U.S. dairy, steel Canadian Finance Minister Francois-Philippe Champagne (C) speaks during a news conference in Ottawa, Ontario, Canada, on Tuesday. Prime Minister Mark Carney matched dollar-for-dollar the new tariffs imposed by President Donald Trump over the weekend and announced support programs for Canadian businesses hurt by the escalating trade war. Prime Minister Mark Carney matched the new tariffs imposed by President Donald Trump and announced new support programs for Canadian businesses hurt by the escalating trade war with the country's largest trading partner. Canada will double its existing counter-tariffs on U.S. steel and aluminum products to 50%. American-made milk, furniture, clothing and apparel will also have new 50% duties applied, as will video-game consoles, smartphones and other electronics. Overall, the retaliatory levies will affect $20 billion worth of annual U.S. exports to Canada, roughly matching the dollar-value impact of the tariffs the White House put on Canadian products on Saturday.
Nvidia, Supermicro employees charged over export of AI servers to China
Taiwanese authorities have indicted nine people, including employees of Nvidia and Super Micro Computer, over their alleged involvement in the illegal export of artificial intelligence servers to China. Eight of those indicted, including one employee of Nvidia's Taiwan unit and two employees of Supermicro's Taiwan unit, were charged with breach of trust and document forgery in connection with the illegal export of high-end AI servers, prosecutors in the port city of Keelung said in a statement on Monday. An additional 56 servers were seized at Taiwan's border, the statement said. Three of the defendants have been charged with embezzlement. Semiconductor powerhouse Taiwan is the world's largest producer of advanced chips used in AI applications.