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Global trade is experiencing a tectonic shift, says UNCTAD's Rebeca Grynspan
The Trump administration’s tariffs have added uncertainty and complexity to global trade, particularly burdening emerging and developing economies.
UNCTAD Secretary-General Rebeca Grynspan calls this a “tectonic shift in the trade regime,” noting that negotiations have replaced a potential tariff war.
She warns that vulnerable countries are being hit hardest often facing higher tariffs than major US trading partners despite posing little threat. Grynspan urges the US government to reconsider these trade measures to avoid devastating impacts.
Watch more Global Stage coverage from the 80th Session of the United Nations General Assembly here: gzeromedia.com/globalstage
In a first-of-its-kind deal, Nvidia and AMD will hand 15% of revenues from AI chip sales to China over to the US government in exchange for export licenses.
Graphic Truth: US government to get 15% of chip sales to China
In a first-of-its-kind deal, Nvidia and AMD will hand 15% of revenues from AI chip sales to China over to the US government in exchange for export licenses. The arrangement, greenlit after Nvidia CEO Jensen Huang met with Donald Trump, reverses an earlier ban and has national security hawks on edge, warning the chips could boost China’s military AI capabilities. The move comes amid ongoing US-China trade talks and pressure from Beijing to relax tech controls. Here’s a look at what the US’s coffers stand to gain through the deal, based on Nvidia’s estimated sales in China this year if export controls had been lifted.
The rise of Elon Musk's DOGE under Trump
If you ask the individuals working for DOGE, if you ask Elon Musk, they're doing the right thing. They are undertaking a revolution to save the United States,” Drummond says, “If you ask any of the civil servants or the federal workers who've lost their jobs, there is a deep sense of concern, of dread that this revolutionary effort will destroy so much of what powers this country.”
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Will the Trump-Musk relationship last?
How long will President Donald Trump’s relationship with Elon Musk last? The alliance has so far defied predictions from the left (and parts of the right) that a relationship between two famously impulsive and mercurial billionaires would eventually lead to conflict. Instead, Musk is everywhere in the Trump administration—attending cabinet meetings, shaking hands with world leaders, smiling in the Oval Office. Musk’s Department of Government Efficiency, or DOGE, has embedded itself across nearly every federal agency. In many ways, the relationship is mutually beneficial: Musk has an almost limitless checkbook to bankroll Trump’s political operations, and DOGE is helping him deliver on a campaign pledge to “shatter” the deep state. Meanwhile, Musk has become the most powerful person in Washington, not named Trump. But the president also has a history of discarding allies when they are no longer valuable and many of his close advisors have become his harshest critics. So, can the Trump-Musk alliance survive for the long haul, or is it destined to go up in flames?
Watch the upcoming episode of GZERO World with Ian Bremmer on US public television this weekend (check local listings) and at gzeromedia.com/gzeroworld.
The Kremlin
Are Russia and China trying to recruit disgruntled US federal employees?
A Naval Criminal Investigative Service document said US intelligence had determined that foreign officers had been instructed to look for possible targets on LinkedIn, TikTok, RedNote, and Reddit, focusing on employees who indicate that they are “open to work.”
Shooting the messenger. Some in the US intelligence community have reportedly raised these concerns internally, but Director of National Intelligence Tulsi Gabbard said the ones flagging the issue are the problem. She said internal discussions at the CIA about this are a “threat” and questioned the loyalty of those involved.
“They’re exposing themselves essentially by making this indirect threat — using their propaganda arm through CNN that they've used over and over and over again — to reveal their hand, that their loyalty is not at all to America. ... not to the American people or the Constitution. It is to themselves,” Gabbard said.
The ChatGPT logo, a keyboard, and robot hands are seen in this illustration.
OpenAI launches ChatGPT Gov
This product launch serves a dual purpose: OpenAI is both advancing its business strategy of becoming a government contractor, and it’s advancing its political strategy of becoming more enmeshed with Washington. In December, OpenAI reversed course on its longstanding prohibition of its tools being used for military purposes and partnered with the drone maker Anduril on defensive systems for the US military.
Announcing the government version of ChatGPT, OpenAI framed its mission as a global one. “We believe the US government’s adoption of artificial intelligence can boost efficiency and productivity and is crucial for maintaining and enhancing America’s global leadership in this technology,” the company wrote. Part of the sales strategy: convincing the government that it needs to use the latest large language models to stay ahead of its rivals, namely China.
Graphic Truth: Where the US government gets its revenue
The US government currently raises about $5 trillion a year in revenue. That plus another $2 trillion in debt are what make up the nearly $7 trillion that Uncle Sam spends annually.
But where does that revenue actually come from? Here’s a look at the breakdown.
Bear in mind, as you look at this, that incoming US president Donald Trump has suggested he wants to replace the income tax with his new tariffs. Would that be possible?
It’s true that until the income tax was implemented in the early 20th century, tariffs provided the lion’s share of US government revenue. But that was a time before social security, medicare, or a modern military when the government spent barely $500,000 a year.
With Trump’s tariffs expected to raise, at best, about $300 billion per year, using them to replace income taxes would entail an unfathomably radical shrinking of the US federal government.
A general view of the U.S. Federal Trade Commission (FTC) building, in Washington, D.C., on Wednesday, October 20, 2021
Antitrust is coming for AI
The US government's two antitrust regulators struck a deal to divvy up major investigations into anti-competitive behavior in the AI industry. The Justice Department will look into Nvidia’s dominance over the chip market, while the Federal Trade Commission will investigate OpenAI and its lead investor, Microsoft.
In December, the FTC opened a preliminary inquiry into Microsoft's $13 billion stake in OpenAI, which makes ChatGPT. It’s an non-traditional deal, in which Microsoft receives half of OpenAI’s revenue until the investment is repaid, rather than traditional equity. But Microsoft also flexed its muscles after the sudden ouster of OpenAI CEO Sam Altman last year, offering to hire him and any defecting OpenAI employees, effectively pressuring the company to rehire him — which it did soon after. The UK’s Competition and Markets Authority also began probing the relationship between the two firms in December.
Meanwhile, Nvidia has become the undisputed leader of the AI chip industry with their powerful graphics processors powering the training and operation of generative AI models. The company recently disclosed in a filing with the US Securities and Exchange Commission that its pole position and market dominance has attracted regulatory scrutiny from the United Kingdom, though it didn’t specify the nature of the inquiry.
Noah Daponte-Smith, a United States analyst for Eurasia Group, sees this announcement “largely as a messaging exercise intended to show that DOJ [and] FTC will be just as dogged on antitrust issues in the AI space as in the rest of the Big Tech arena.” He sees the decision as more of a continuation of Biden’s aggressive antitrust regime than a policy position on the regulation of AI.
“My sense is that AI regulation will have to occur more through Congress and through executive actions not focused on competition,” he added.