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‘India has that drive’: US Commerce Secretary Howard Lutnick lauds India’s economic momentum, potential - BusinessToday
Business Today
·
3m ago
Medial
US Commerce Secretary Howard Lutnick praises India's economic momentum, attributing it to the determination and drive of its people. He acknowledges India's ambition, innovation, and execution as unique strengths but expresses concerns about India's defence ties with Russia, specifically its military purchases and involvement in BRICS initiatives. Although optimistic about US-India relations, he views India's high tariff structure as a barrier to trade and suggests rationalization for improved trade relations.
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US removes ‘safety’ from AI Safety Institute
The Verge
·
3m ago
Medial
The US Department of Commerce has rebranded its AI Safety Institute to the Center for AI Standards and Innovation (CAISI), shifting focus from general safety to addressing national security risks and opposing excessive international regulation. Announced by Secretary of Commerce Howard Lutnick, the change aims to boost US innovation and establish AI standards dominance. This move aligns with the Trump administration's broader strategy to accelerate the growth of American AI firms and technologies.
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US commerce secretary says Trump really likes TikTok, but app has to move to US ownership - The Economic Times
Economic Times
·
1m ago
Medial
U.S. President Donald Trump appreciates TikTok's role in connecting with young Americans but insists on transitioning the app to U.S. ownership due to concerns over Chinese control. Secretary of Commerce Howard Lutnick emphasizes that having a Chinese app on millions of American phones is unacceptable. The President supports TikTok if it becomes an American entity, focusing on ownership, technology, and algorithms to align with U.S. interests.
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Donald Trump will try to deal with TikTok in current time frame, US Commerce chief says
Economic Times
·
6m ago
Medial
US President Donald Trump is working to address the TikTok situation within a given timeframe, according to U.S. Commerce Secretary Howard Lutnick. The administration is engaging with four groups regarding the sale of the Chinese-owned platform. In January, Trump signed an executive order postponing enforcement of a U.S. law by 75 days, requiring ByteDance, TikTok's owner, to sell the platform due to national security concerns or face a ban.
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US puts GDP data on the blockchain in Trump's crypto push
Economic Times
·
13d ago
Medial
The Trump administration has started distributing US gross domestic product (GDP) data on public blockchains, showcasing an endorsement of the crypto industry. This move utilizes blockchain technology to increase government transparency and data distribution efficiency, involving major blockchains like Bitcoin and Ethereum. Commerce Department officials explain that the initiative is meant to complement existing data release methods. This is part of a larger strategy to incorporate blockchain technology into government functions, supported by Commerce Secretary Howard Lutnick.
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'You can’t walk in there': Trump calls full access to India 'unthinkable' amid trade talks
Economic Times
·
2m ago
Medial
U.S. President Donald Trump expressed uncertainty about achieving full trade access to India amid ongoing trade discussions. While hinting at a potential agreement, Trump noted that existing market access restrictions make it challenging to envision unrestricted trade. U.S. Commerce Secretary Howard Lutnick expressed optimism about a deal in the near future, and India's Commerce Minister Piyush Goyal confirmed ongoing negotiations to create a balanced trade agreement. The discussions aim to address tariff and market access issues.
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US examines equity stake in chip makers for CHIPS Act cash grants - The Economic Times
Economic Times
·
22d ago
Medial
The U.S. government, under Commerce Secretary Howard Lutnick, is considering taking equity stakes in chip companies like Intel in exchange for grants from the CHIPS Act, aimed at boosting domestic manufacturing. The plan seeks a return on investment rather than giving grants outright. While the initiative was initially for Intel, it may expand to other companies. This approach has raised concerns about corporate risks and taxpayer exposure. Various companies and officials, including Taiwan's TSMC, are involved in discussions.
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A backlog at the Commerce Department is reportedly stalling Nvidia's H20 chip licenses | TechCrunch
TechCrunch
·
1m ago
Medial
The U.S. Department of Commerce is reportedly delaying licenses for Nvidia's H20 AI chip sales to China, despite earlier approval from Secretary Howard Lutnick. Due to internal turmoil, staff shortages, and poor communication, a backlog of applications is stalling the process. This delay coincides with national security experts advising the Trump administration to limit Nvidia's sales to China, citing security concerns.
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Trump pick Lutnick's firm in talks with Tether for $2 billion bitcoin lending project: reports
Economic Times
·
9m ago
Medial
Howard Lutnick, the pick for Commerce secretary by US President-elect Donald Trump, is reportedly in talks to launch a $2 billion project with Tether, the largest stablecoin operator. The project aims to lend dollars to clients against bitcoin, potentially reaching tens of billions of dollars. Lutnick's firm, Cantor Fitzgerald, is discussing receiving support from Tether for this initiative. Tether Investments mentioned it is exploring opportunities using profits from previous years. Stablecoins maintain a constant value and are backed by traditional currencies. Lutnick's appointment would give him additional responsibility for the US Trade Representative's office alongside leading the Commerce Department.
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US copper tariff may impact Indian electronics, chip plans - The Economic Times
Economic Times
·
1m ago
Medial
The recent 50% tariff on copper imports into the US, announced by Donald Trump, poses concerns for India’s electronics and semiconductor industries, which heavily rely on imported high-purity copper. This tariff could disrupt India's chip manufacturing efforts. Industry leaders are urging the Indian government to enhance domestic copper production and streamline import procedures. The measure is feared to increase manufacturing costs and impede India’s semiconductor momentum by affecting global supply chains.
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Diplomatic and commercial discussions underway to secure rare earth elements from China - BusinessToday
Business Today
·
2m ago
Medial
Diplomatic and commercial negotiations are underway to secure rare earth elements (REE) from China, which imposed strict export controls affecting Indian auto OEMs potentially by July 2025. This may impact the production of electric, ICE, and hybrid vehicles relying on REE-based technologies. China dominates 70% of REE production and 90% of processing. Efforts are being made by India’s Department of Commerce and Ministry of External Affairs to facilitate essential imports amid a potential global impact.
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