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Technology stocks declined Wednesday, led by a 7% drop in Nvidia, as the chipmaking sector signaled that President Donald Trump’s sweeping tariff plans could hamper demand and growth. Nvidia revealed in a filing Tuesday that it will take a $5.5 billion charge tied to exporting its H20 graphics processing units to China and other countries and said the government will require a license to ship the chips there and other destinations. Technology stocks have whipsawed in the wake of Trump’s tariff announcements, which sparked global trade war fears and recession concerns. The market slumped in the initial aftermath of the...

National Economic Council Director Kevin Hassett made clear on Thursday that President Donald Trump’s 10 percent baseline tariff on imports is not going anywhere, despite ongoing negotiations with foreign nations to roll back the steeper tariffs Trump put in place last week.

SACRAMENTO, Calif. -- California Gov. Gavin Newsom said Wednesday that his state will file a lawsuit challenging President Donald Trump's authority to impose sweeping tariffs that have set off a global trade war. The suit will argue that Trump's use of the International Emergency Economic Powers Act to impose tariffs on Mexico, Canada and China or a 10% tariff on all imports is unlawful. The act enables a president to freeze and block transactions in response to foreign threats.

California Gov. Gavin Newsom (D) announced Wednesday that the state is suing President Donald Trump over his recent tariffs, claiming that they are hurting the state and that he lacks the authority to enact them. Bay Area public radio station KQED reported: Gov. Gavin Newsom and Attorney General Rob Bonta are asking a federal court to pause the tariffs being levied against Mexico, China and Canada, as well as the across-the-board 10 percent tariff enacted by Trump. The suit argues that the law the president is relying on — the International Economic Emergency Powers Act — has never been used...

"Trump is a crazy man," says Lionel Xu, who is surrounded by his company's mosquito repellent kits – many were once best sellers in Walmart stores in the United States. Now those products are sitting in boxes in a warehouse in China and will remain there unless President Donald Trump lifts his 145% tariffs on all Chinese goods bound for the US. "This is so hard for us," he adds. Around half of all products made by his company Sorbo Technology are sold to the US. It is a small company by Chinese standards and has around 400 workers in...

Takeshi Niinami, who is also chairman and CEO of Japanese drinks manufacturer Suntory Holdings, pointed out Japan was the biggest foreign investor in the U.S. and the largest holder of U.S. Treasury bonds. Japan should therefore talk about more opportunities to invest in the United States, and will keep its massive stock of U.S. Treasurys, Niinami said, adding “We know that the President is [very concerned] over the bond market,” Japan has “many cards” to play in tariff negotiations with the United States, according to Takeshi Niinami, senior economic advisor to Japan’s prime minister. His comments comes ahead of a...

After attracting some dubious criticism regarding its US-based production, BMW fired back with some cold, rational stats that solidified its reputation as an exporter and manufacturer. But apparently, the automaker wasn’t content to stop there. Perhaps fueled by indignation—but more likely demand and forecasting—BMW is mulling over the addition of shifts at its Spartanburg plant. Apparently, the boosted productivity could result in up to 80,000 additional units entering production. Anticipating the Year Ahead Reportedly, BMW’s US inventory is sitting around a month’s days supply. A primary benefit of the production increase is price protection. A ramp up ensures models that...

• makes it clear the US cannot tolerate Hong Kong's prosperity and stability

The European Union on Friday threatened to target US steel and textile exports in retaliation for Washington's restrictions on steel imports, unless the Bush administration agree to its demands for compensation. In an aggressive riposte to last week's White House decision to levy duties of up to 30 per cent on steel imports, the European Commission confirmed it was drawing up a list of US goods worth about $2bn which could face increased EU tariffs. The $2bn relates to the value of EU steel exports affected by the US tariffs. "The overall amount we'll be looking for is close to...

Enhanced 3D printing techniques now allow for the production of 17-4 PH stainless steel, optimizing its strength and corrosion resistance. This achievement marks a significant step forward in the additive manufacturing of complex alloys. Credit: SciTechDaily.com =============================================================================== Using advanced X-ray techniques, scientists have achieved a significant milestone in 3D printing by producing 17-4 PH stainless steel with superior strength and durability. This development promises to lower costs and increase production flexibility, offering profound implications for manufacturing complex materials. Breakthrough in 3D Printing of Stainless Steel Researchers have developed a reliable method to produce a specific type of stainless steel, 17-4...

As the Line gigaproject continues to grow in the Saudi desert, some new construction details have been announced that highlight the mind-boggling challenge of turning a huge tract of rugged landscape into a futuristic megacity, including its reported use of one fifth of the entire world's currently available steel.To recap, the Line is the key part of Saudi Arabia's Neom project, which is itself part of a larger push to transform the country's predominantly oil-based economy into a tourism-focused one as fossil fuel use is inevitably reduced in the coming years.The plan is for the Line to eventually have a...

A low-temperature electrochemical method for producing iron could reshape the steel industry. A blazing snapshot of traditional ironmaking, one of the world’s most polluting industries. sdlgzps/iStock ************************************************************************* Steel is the backbone of modern civilization—used in everything from buildings and bridges to cars and appliances. On the other hand, steelmaking is one of the world’s largest sources of carbon emissions, primarily due to the traditional process of extracting iron from ore using coal-fired blast furnaces. As the global demand for steel continues to grow, finding cleaner, more sustainable methods of production is critical—not just for climate goals, but for the future...

Scientists at the University of Oregon are working on a greener way to make iron metal—a big step toward cleaning up the steel industry, which is one of the largest sources of carbon pollution worldwide. Their latest research, published in ACS Energy Letters, shows how this new method could be more efficient and environmentally friendly than the traditional way of making steel. Right now, making iron from iron ore usually happens in blast furnaces that burn fossil fuels and release a lot of carbon dioxide into the air. But chemist Paul Kempler and his team have developed a new method...

British Steel, the U.K.’s last bastion of primary steelmaking, announced plans to shutter its two blast furnaces at Scunthorpe, effectively ending 150 years of virgin steel production in Britain. Media outlets have rushed to pin the blame on U.S. President Donald Trump’s recent 25% tariffs on steel imports. But this narrative is a convenient distraction from a far more insidious culprit: the U.K. government’s relentless pursuit of self-destructive green policies that have crippled British manufacturing for nearly a decade. During the Industrial Revolution, Britain’s steel industry forged the island’s ascent as a global superpower. Steel was the sinew of progress,...

London says it acted to prevent the plant’s Chinese owners from closing the plant, threatening jobs and national security.The British government moved swiftly on Saturday to take control of operations at the country’s last large crude steel producing facility, in what appeared to be a major step toward nationalizing the plant. In an unusual and dramatic move, the government had summoned lawmakers back from vacation on Saturday to approve the government’s emergency legislation. The government said it was acting to prevent the owners of the British Steel complex in Scunthorpe, a Chinese company called Jingye, from taking steps unilaterally to...

Parliament has been recalled for a rare Saturday sitting to pass an emergency law aimed at saving British Steel's Scunthorpe plant from imminent closure. Sir Keir Starmer said the legislation would allow ministers to "take control" of the Lincolnshire site and stop its Chinese owner from closing its blast furnaces. The move opens the door to a full nationalisation of the company at a later stage, with the prime minister saying "all options" remained on the table. Talks have been taking place this week to keep production going at the firm, after owners Jingye said its blast furnaces were "no...

PM Keir Starmer will aim to pass an emergency law on Saturday to "take control" of British Steel's plant in Scunthorpe, which is running out of raw materials to make steel The potential closure of Scunthorpe's British Steel plant would be devastating for workers and their families, the GMB union says If passed, the new law will give power to Business Secretary Jonathan Reynolds to direct and control British Steel - and could allow nationalisation later down the line The PM and Reynolds expressed disappointment in British Steel's Chinese owner Jingye, which says it has been losing around £700,000 a...

Keir Starmer and Rachel Reeves are actively considering nationalising British Steel in an escalation of plans first revealed in the Guardian last year. The prime minister said all options were on the table to secure the future of the Scunthorpe plant, which is owned by the Chinese firm Jingye and employs about 3,500 people. The possibility of nationalisation was first revealed in December but discussions have taken on fresh urgency with US tariffs and talks about a financial support package to move to less polluting technology having faltered. The government has now been forced to consider more drastic options, ranging...

President Donald Trump on Monday ordered the proposed acquisition of U.S. Steel by Japan's Nippon Steel to undergo a new review after the deal was blocked by President Joe Biden. Trump directed the Committee on Foreign Investment in the United States to review the acquisition again to assist "in determining whether further action in this matter may be appropriate," according to a presidential action issued by the White House on Monday. U.S. Steel shares spiked 11% in reaction to the decision. Trump gave the committee 45 days to submit a recommendation on whether measures suggested by U.S. Steel and Nippon...

President Trump on Monday directed a powerful US national security panel to take a fresh look at Nippon Steel’s bid for US Steel to help determine if “further action” is appropriate, raising hopes for an elusive greenlight for the deal. “I direct the Committee on Foreign Investment in the United States…to conduct a review of the acquisition of U.S. Steel by (Nippon Steel) to assist me in determining whether further action in this matter may be appropriate,” the memo reads. US Steel did not respond to requests for comment. Nippon Steel said it was “pleased” by the news. “We have...