US President Donald Trump said he will announce the first trade deal with a country after tariffs were imposed on Thursday.
“There will be a big press conference in the Oval Office tomorrow morning at 10:00 (16:00 Bulgarian time) dedicated to a major trade deal with representatives of a major, highly respected country. The first of many!“ - the head of state wrote on his page on the social network Truth Social. He did not specify which country exactly.
The Trump administration plans to abandon the rule adopted under former US President Joe Biden for the export of domestically produced chips for artificial intelligence (AI) technologies, Bloomberg reported, citing its sources.
It is noted that the revision of export control regulations coincides with preparations for Trump's visit to the Middle East. Some countries in the region, including Saudi Arabia and the United Arab Emirates, previously expressed dissatisfaction with restrictions on the purchase of AI chips from American companies. Now they will have the opportunity to negotiate with Washington new, more favorable terms of supply, the agency writes.
According to him, the decision taken under Biden to divide countries importing American chips into three categories based on the level of restrictions will probably not come into force on May 15, as previously expected. Russia, Iran, China and a number of other countries were included by Biden in the third category of countries subject to maximum restrictions. According to Bloomberg, the Trump administration is actively working on a new rule that would eliminate the categories and impose specific export restrictions on countries that supply American chips to China, such as Malaysia and Thailand.
“Biden's rule on chip supplies is too complicated, too bureaucratic and will hinder American innovation. We will replace it with a much simpler rule that will ensure that the United States has an advantage in AI“, a spokesperson for the Commerce Department's Bureau of Industry and Security told the media.
The exported chips are microprocessors designed to speed up the work of AI systems. They are used to process large amounts of data and perform complex calculations. AI accelerators are made by technology giants such as Nvidia, AMD and Intel. Nvidia has repeatedly criticized Washington's restrictions on the supply of its products abroad, saying such measures threaten US economic growth.
Trump will travel to the Middle East from May 13 to 16, visiting Saudi Arabia, Qatar and the UAE.