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President Donald Trump is moving toward imposing a new tariff on China to penalize Beijing for flooding the global market with underpriced goods. Two people familiar with the matter say he's considering a 7.5% tariff.
They spoke on condition of anonymity to discuss the yet-to-be finalized deliberations. Administration officials believe the tariff won't disrupt the trade truce with China or a planned visit to Washington by Chinese President Xi Jinping.
Taiwan charges 9 over illegal AI server exports
Taiwanese prosecutors have charged nine people, including one from Nvidia and two from Super Micro, for illegally exporting high-end AI servers to China.
Nvidia spokesperson Patrick Rutherford says Monday that the company is cooperating with Taiwanese authorities to resolve the allegations. Super Micro also states it is working to enhance its export compliance program.
Zillow, Redfin resolve litigation over deal
The U.S. Federal Trade Commission says it has settled a claim against Zillow and Redfin accusing the real estate listings companies of striking a deal to suppress competition in online rental advertising.
The FTC claimed Redfin agreed to exit the apartment advertising business for up to nine years in exchange for $100 million and other compensation from rival Zillow. The commission says part of the settlement orders Redfin to relaunch its rental housing listings business so that competition can be restored in the rental property listings market.
Wall Street drifts at start of week that could swing
U.S. stocks drifted to a mixed finish as the countdown ticks toward potentially market-moving events coming later in the week.
The S&P 500 slipped 0.3% Monday and pulled further from its record set earlier this month. The Dow Jones Industrial Average added 0.3%, and the Nasdaq composite fell 0.8%. Yields eased in the bond market after oil prices dropped.
UK to help Ukraine make long-range missiles
British Prime Minister Andy Burnham announces the U.K. will help Ukraine make its own long-range missiles. On Monday, Burnham said the U.K. will share classified technical information for British components to aid Ukraine in assembling SCALP missiles.
This announcement came during Burnham's visit to Kyiv for Ukraine's Independence Day. The SCALP missile, similar to the U.K.'s Storm Shadow, is a high-precision weapon used by several countries. Ukraine is also in talks with France to set up missile assembly lines. While this move won't help Ukraine immediately, it marks a significant step in its defense capabilities.
Washington Post to reinstate opinion writer
An arbitrator has ordered The Washington Post to reinstate a Black opinion writer fired over social media posts about violent white men following last year's killing of conservative activist Charlie Kirk.
In a ruling, Sarah Miller Espinosa wrote that the newspaper did not have sufficient cause to terminate Karen Attiah. Espinosa's ruling calls for The Post to award Attiah full back pay and lost benefits.
TikTok ordered to remove dangerous driving videos
The British government has urged TikTok and other social media platforms to remove videos celebrating dangerous driving.
That follows a fatal crash on Saturday in northeastern England, where two police officers and five young men died after a car was driven the wrong way. Concerns are rising over social media videos showing reckless driving.