Trump's export deal with Nvidia and AMD: The Constitution says it's illegal
10 days ago
- #US-China Trade
- #Global Markets
- #AI Investment
- U.S. government's 15% revenue-sharing deal with Nvidia and AMD on Chinese chip sales may expand to other industries.
- Constitutional concerns arise over the 'export clause' which prohibits taxes on exported goods.
- Supreme Court historically ruled in favor of businesses in export tax cases, but current court may differ.
- Trump and Putin to meet with low expectations; Trump warns of 'severe consequences' without a ceasefire.
- Putin may seek to expand talks with trade deals and sanctions relief, complicating ceasefire negotiations.
- Bullish IPO soars 84% on debut, exceeding expectations with a $10 billion market cap.
- Banks face shrinking loan assets as stablecoins divert deposits to bond purchases.
- Perplexity launches Comet AI search engine, competing with Google.
- AI investments reach $62 billion, but 80% of companies report no significant impact; 42% dropped AI efforts.
- Goldman Sachs research suggests American consumers will bear two-thirds of tariff costs.