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Jensen Huang, CEO of Nvidia, speaks during the Viva Technology conference dedicated to innovation and startups at Porte de Versailles exhibition center in Paris, France, June 11, 2025.

REUTERS

US will end restrictions of AI chips exports to China, says Nvidia

The US-based chipmaker Nvidia is on a hot streak. After becoming the first ever company to be valued at $4 trillion, the firm said that the Trump administration ended its export limits on US-made H20 artificial-intelligence chips to China. The initial White House decision to curtail these exports, made in April, came after the Chinese firm DeepSeek released a powerful AI model that required far less computer power than its American cousins. Nvidia CEO Jensen Huang argued that these restrictions were counterproductive, because they spurred Chinese firms to develop their own chip industry. His argument appears to have resonated, and shares in Nvidia shot up 4% on Tuesday morning.

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Malibu, California, USA: A pickup truck with a President Donald Trump decal and decorated in U.S. Flags drives on Pacific Coast Highway on July 4th in Malibu, California.

(Credit Image: © Jonathan Alcorn/ZUMA Press Wire)
Nearly six months into President Donald Trump’s second term, the most notable export from the United States in 2025 has been political risk. As was evident from the earliest executive orders on foreign policy and trade policy, the administration has set for itself an ambitious, aspirational agenda. From Greenland to Iran, Ukraine and Brazil, the Trump 2.0 wish list is expansive and numerous. The world has been put on notice that nowhere will go unconsidered.
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French Prime Minister Francois Bayrou speaks during a news conference to present a major public finance recovery plan in Paris, France, July 15, 2025.

REUTERS

€40 billion: French Prime Minister François Bayrou is set to present a 2026 budget Tuesday that aims to cut the size of the country’s 2026 annual deficit by €40 billion ($46.7 billion). However, all opposition parties are expected to reject the proposal – and that could spell the end for Bayrou’s minority government.

12: Hong Kong’s pro-democracy dissidents aren’t going to go gentle into that good night. Twelve of them have appealed their recent subversion convictions in a move that shines a fresh light on Beijing’s anti-democracy crackdown in the city. The case, which challenges China’s draconian 2021 national security law, is drawing international attention: foreign diplomats from over six countries were present at the trial. The appeals are expected to take 10 days.

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Myanmar's military chief Senior General Min Aung Hlaing leaves after a military parade on Victory Day, marking the 80th anniversary of the victory over Nazi Germany in World War Two, in Red Square in central Moscow, Russia, May 9, 2025.

REUTERS

23: At least 23 people were killed on Friday in an airstrike on a Buddhist monastery in northern Myanmar. The attack is believed to have been carried out by the country’s ruling military junta. Since seizing power in a 2021 coup, the junta has been locked in brutal civil war with several powerful rebel groups.

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An armed PKK fighter places a weapon to be burnt during a disarming ceremony in Sulaimaniya, Iraq, July 11, 2025, in this screengrab obtained from a handout video.

Kurdistan Workers Party Media Office via REUTERS

Kurdish militants burn their own guns

In a symbolic ending to more than 40 years of rebellion against the Turkish government, fighters from the PKK — a Kurdish militia — melted a cache of weapons in a gigantic cauldron on Friday. Earlier this year jailed PKK leader Abdullah Ocalan called for disarming as part of a process expected to deliver more cultural autonomy for Kurds, who make up 20% of Turkey’s population. The move shifts attention onto the future of affiliated Kurdish militias in Syria, as well as to Turkey’s parliament, where President Recep Tayyip Erdoğan is courting support from Kurdish parties as he seeks to soften term limits.

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Plumes of smoke rise from what is said to be a Greek-operated bulk carrier, in a handout video released on July 8, 2025

HOUTHI MEDIA CENTER/Handout via REUTERS

3: The Iran-backed Houthi rebel group is once again attacking cargo ships passing through the Red Sea, killing three people while snatching a Liberian-flagged, Greek-owned cargo vessel on Monday night. This was the Houthis’ second such attack over the last few days. Until this past weekend, the group hadn’t targeted cargo ships since late 2024.

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Paige Fusco

The US Supreme Court on Tuesday allowed President Donald Trump to proceed with widespread cuts to the federal workforce, pending a full trial, overruling a San Francisco judge’s order in May that temporarily blocked layoffs at 22 agencies. Prior to the Supreme Court’s ruling, thousands of government employees had been preparing for mass layoffs, with many notified of their pending terminations but awaiting official confirmation.

Here’s a look at the changing size of the federal workforce, which includes the US military, since Trump first took power in 2017.

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