Tariffs on Chinese goods are lower than initially feared, for now
The big picture: President Trump's long-discussed tariffs have taken effect. While the initial duties are not as severe as anticipated, they remain far-reaching. China has already responded in kind, and the resulting trade war is expected to impact a wide range of electronics and other products, pushing prices into uncharted territory.
What just happened? Donald Trump has announced that tech titans OpenAI, Oracle, and SoftBank are joining forces on a colossal $500 billion initiative dubbed "Project Stargate." According to the US president, the goal is to secure AI compute in the country and gain an edge against China, which has been rapidly advancing its own AI ambitions.