Daily News Digest: 3 CEOs Preparing To Raise Prices if Trump Enacts Trade Restrictions

November 13, 2024 -- Today’s top stories highlight critical global developments. U.S. companies are bracing for potential price hikes as President-elect Donald Trump's proposed tariffs on Chinese imports, Nvidia and SoftBank have unveiled the world’s first AI and 5G telecom network. In Taiwan, Trump’s defense spending demands raise economic and geopolitical concerns. Additionally, China is fast-tracking intelligent vehicle trials.

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By CommonWealth Magazine
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2024-11-13

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3 CEOs preparing to raise prices if Trump enacts trade restrictions

Incoming President-elect Donald Trump has proposed a 60% tariff on goods imported from China, coupled with a 10% to 20% tariff on goods imported from other countries.

While the President-elect could choose not to enact tariffs at that scale once he assumes office, economists and the market have predicted that his proposals would spike inflation and force the Federal Reserve to raise interest rates. a number of companies have already begun responding to Trump's election victory and the implications his tariff proposals will have on the costs of their goods.

While U.S. investors are gearing up for another strong four years as Trump cuts taxes and EASES regulations, their Asian counterparts, particularly in China, are keeping a wary eye on developments amid fears of another debilitating trade war.

Reference Sources

Nvidia and SoftBank pilot world's first AI and 5G telecom network

輝達-台積電-半導體-晶片-訂價能力 (Source: Shutterstock)

Nvidia and Softbank Corp, the telecommunications arm of Softbank group, have piloted the world's first artificial intelligence and 5G TELECOMS network.

The network can run ai and 5G workloads concurrently, a process known as an artificial intelligence radio access network (Ai-Ran). applications for the network include autonomous vehicle remote support and robotics control.

Nvidia founder and Ceo Jensen Huang also said Softbank was the first to receive its new Blackwell chip designs, which it is incorporating into the ai supercomputer it is developing to create its own Generative ai model.

Reference Sources

cna - Nvidia and SoftBank pilot world's first AI and 5G telecom network

Why Donald Trump’s win could mean a defence budget nightmare for Taiwan

川普-賀錦麗-美國大選-進出口 (Source: Shutterstock)

U.S. President-elect Donald Trump has made Taiwan a focal point of his 2024 campaign, advocating increased defence spending by the island and casting a critical eye on its semiconductor dominance.

While some Taiwanese officials have dismissed these statements as campaign rhetoric, Trump’s repeated calls for Taiwan to pay “ protection fees ” and increase its defense spending to 10% of GDP now signal real pressure.

This has ignited urgent questions about Taiwan’s ability to meet these demands and secure critical U.S. military support as the island faces a growing threat from the people’s liberation Army (PLA).

Reference Sources

scmp - Why Donald Trump’s win could mean a defence budget nightmare for Taiwan

China to accelerate trials of intelligent connected vehicle on roads

經濟-歐洲聯盟-德國-法國-汽車工業-貿易 (Source: Shutterstock)

China's Ministry of transport and the national development and reform Commission have released an action plan aimed at speeding up market access for intelligent connected vehicles and allowing them to run on the roads.

The plan aims to promote the demonstration and application of autonomous driving and Driverless vehicles in key areas, including the Yangtze River Delta region and the Guangdong-Hong Kong-Macao greater Bay area.

The plan outlines measures to improve transport efficiency and lower logistics costs, including the acceleration of the construction of smart highways, waterways, ports and hubs, and the Digital transformation and upgrading of transport infrastructure. By 2027, the ratio of social logistics costs to GDP is expected to be reduced to around 13.5%.

Reference Sources