News Posts matching "President Trump"

Return to Keyword Browsing

U.S. Hikes Tariffs on Electronics Imports from China by 2.5 Times

President Donald Trump Sunday announced a fresh round of import tariffs affecting $200 billion worth electronics goods from China, starting next Friday. President Trump in a Tweet said that his administration would raise import tariffs to a staggering 25 percent from the existing 10 percent, a 2.5 times change, a move that could increase prices of consumer-electronics and computer hardware by at least 14 percent unless retailers are willing to take a hit on their margins. Tech stocks took a beating to this news as Dow Jones Industrial index fell 1.5 percent, and Nikkei shrunk 0.2 percent.

In the short term, as we mentioned, the new tariffs can increase end-user prices by at least 14 percent. In the medium-term, electronics companies could move their manufacturing out of China, transferring the costs of doing so to the consumer. In the long term, prices could remain high as the countries companies are relocating to may not have the labor or logistics cost advantages of China.

Broadcom Gives Up on Acquiring Qualcomm

After being blocked via an executive order by President Trump, Broadcom has given up on their quest to acquire Qualcomm. The chipmaker will also be withdrawing the slate of independent director candidates that they were planning to nominate at Qualcomm's 2018 Annual Meeting of Stockholders. Although highly disappointed with the outcome, Broadcom respects President Trump's decision. The company also wants to thank the stockholders for their unconditional support during the entire process. With this whole Qualcomm takeover business out of the way, Broadcom will concentrate on their redomiciliation process.

President Trump Blocks Broadcom-Qualcomm Deal Through an Executive Order

US President Donald Trump blocked the potentially-$117 billion Broadcom-Qualcomm merger through an executive order. The White House considered damning observations by the Committee on Foreign Investment in the United States (CFIUS), which had been studying potential national security implications of this merger. "There is credible evidence that leads me to believe that Broadcom Ltd. [by acquiring Qualcomm] might take action that threatens to impair the national security of the United States," wrote President Trump in the order.

Broadcom expressed shock and disbelief over the order. The company, in a statement, said that it "strongly disagrees that its proposed acquisition of Qualcomm raises any national security concerns." Qualcomm, meanwhile, battened down the hatches for any press comments. The American chipmaker had been wrestling an increasingly Broadcom-slanted board that was all but ready to sell the company to Broadcom at an undervalued price. According to data compiled by Bloomberg, the Trump administration has shot down ten similar deals since it came to power, in which foreign companies - overwhelmingly Chinese in national origin - had attempted buy out American high-technology firms. Californian Intel is still in the foray to swallow Broadcom, as CFIUS doesn't concern itself with American companies buying out foreign firms.

US House of Representatives Confirms Senate's Privacy Stance on ISPs

Only yesterday, the United States' House of Representatives carried the US Senate's joint resolution to eliminate broadband privacy rules. These rules, which are now seemingly on their way to political oblivion, would have required ISPs to get consumers' explicit consent before selling or sharing Web browsing data and other private information with advertisers and other companies. Much like last week's Senate joint resolution, the House's voting fell mainly along partisan lines (215 for, 205 against, with 15 Republican and 190 Democratic representatives voting against the repeal) to scrap the proposed FCC rules.

President Trump's desk (and the President himself) are now all that stand before the ISP's ability to collect geo-location data, financial and health information, children's information, Social Security numbers, Web browsing history, app usage history, and the content of communications - information that gives the most unthinkable leeway in understanding your daily habits. However, President Trump's administration have issued a statement whereas they "strongly support House passage of S.J.Res. 34, which would nullify the Federal Communications Commission's final rule titled "Protecting the Privacy of Customers of Broadband and Other Telecommunication Services".

On Intel and Their $7B White House Affair

By now, we've all seen, or at least heard, about Intel CEO's Brian Kraznich Fab 42 announcement (done from the Oval Office, no less). It was to be a joint press conference to announce a highly impactful investment on U.S. soil, which also turned into some welcome PR for Intel, and got the CEO some face time with the President.

It has to be said though, that hailing this as a Trump administration win is simply politics doing its best: spinning the truth for its own benefit. I say this because the original announcement for the construction of this Arizona fab was done way back in 2011, with then Intel CEO Paul Otellini breaking the news that they would spend $5 billion on the plant during the Obama Administration. Construction started that year, with overall expectation for its completion being somewhere around 2013. Cue the usual delays, and enter 2013's 10% decline of the PC market, and Intel did what any sensible company would do in the wake of lower expected volume of shipments (and respectively lower production needs) - they postponed the opening of the factory, indefinitely, instead choosing to improve manufacturing capability of its then already-operational fabs. So, the factory wasn't announced because of President Trump's policies and overall government acumen, nor is it probably going to be finished by the time his first term ends.
Return to Keyword Browsing