How China plans to fight back Trump’s Tariff Plan

Us President-elect Donald Trump has threatened to impose tariffs of up to 20% on all imported goods and of 60% or more on goods from China.

Wall Street analysts say that Asian countries constituting many of the top suppliers of foreign goods to the US, and China, which accounted for 16.5% of all US-Imported goods by value in 2022, will be the most affected, with the effects lasting through 2026.

China’s recent moves to ban critical minerals exports to the US and an anti-trust probe on Nvidia is seen as a counterstrike at the US’ expansion of AI chip export restriction and adding 140 Chinese companies under the Entity List sanction.

Reference Sources

1. nikkei - Trump tariffs define Wall Street's 2025 Asia growth forecasts
2. cnnen - The case for tariffs as a $3 trillion bargaining chip
3. cnbc - If Trump adds tariffs, ‘either way, there is a cost to consumers,’ economist says
4. independent - Trump says he’s ‘can’t guarantee’ tariffs won’t hurt Americans
5. latimes - Trump is threatening to raise tariffs again. Here’s how China plans to fight back

Alphabet stock adds $136 billion in market value after it unveils quantum computing breakthrough

Alphabet, the parent company of Google, saw its shares surge by almost 5% during Tuesday morning trading after unveiling its latest quantum chip, Willow.

The chip can perform a benchmark computation test in under five minutes, compared to the 10 septillion years that it would take for the current fastest supercomputers to complete.

The stock jumped as much as 6%, adding about $136 billion to its market valuation and representing its best Intra-Day gain since April 26.

Reference Sources

1. quartz - Alphabet stock climbs over 4% after Google's quantum chip breakthrough
2. businessinsider - Alphabet stock adds $136 billion in market value after it unveils quantum computing breakthrough

KPMG Survey Shows US workers are warming up to AI

According to a KPMG US survey, half of respondents said that automation, including AI, has boosted their professional abilities, while just shy of half said that automation would bring new career opportunities. By comparison, 28% of workers said they might lose their jobs to automation, which has been widely touted as a concern.

The latest findings indicate that workers are becoming more conversant with Tech like AI, and not just ignoring it or fearing that it will replace them. About seven in 10 surveyed said they use "automation tools" at least weekly, and one in three said they use them daily.

The survey surveyed more than 1,800 us workers at companies with more than 5,000 employees. About six in 10 of the respondents were managers.

Reference Sources

1. businessinsider - Some workers are warming up to AI and think it will help their career

The CommonWealth English daily news digest is a service curated by CommonWealth English team with the help of AI tools.

Have you read?

• Daily News Digest: China Investigates Nvidia Over Suspected Violation of Anti-Monopoly Law
• Daily News Digest: Google CEO Sees AI Development Slowing Down
• Daily News Digest: GM Expects More Than $5 Billion Impact From China Restructuring
• Daily News Digest: Chinese Automakers Race Past Delivery Targets

Uploaded by Ian Huang