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Trump CNBC Interview Recap: Tariffs on Drugs, Chips to be Announced Next Week; May Not Run for President Again

Outgoing Novo Nordisk CEO: Responding positively to Trump administration’s push to cut Wegovy costs for U.S. patients.

UKRAINE'S DEFENCE MINISTER THANKS U.S. FOR APPROVING $200 MILLION IN FOREIGN MILITARY SALES FOR UKRAINE AFTER TRUMP-ZELENSKIY AGREEMENTS DEFENCE MINISTER SAYS PARTNER-FUNDED PACKAGES WILL PROVIDE TECHNICAL SUPPORT FOR HOWITZERS, LOGISTICAL SERVICES

A look at the data driving the market sell-off today: 📊 ▪️ July ISM Services: 50.1 (vs. 51.5 forecast) - a major miss. ▪️ New Tariff Threat: President Trump announced plans for new tariffs on chips. ▪️ Pharma Tariffs: To be phased in, rising from a low initial rate up to 150%, and eventually 250%. A clear "risk-off" signal for investors. #Data #Economics #Tariffs #USEconomy #Investing

The Science Advisor to the President, Michael Kratsios, said the U.S. wants to include advanced location-tracking capabilities in AI chips. The decision comes as the U.S. has been trying to prevent the flow of semiconductors from tech companies like Nvidia going to China. Kratsios told Bloomberg that the U.S. is looking to monitor the movements of its AI hardware. He revealed that it’s part of a broader plan to mitigate illegal exports of the AI hardware and ensure American technology remains dominant. Kratsios acknowledged that the U.S. is in discussions about installing better location trackers on AI chips. He added that it was something U.S. officials explicitly added in the U.S. AI action plan last month. The White House spoke at the APEC Digital and AI Ministerial Meeting in South Korea and urged the region to adopt U.S. technology. He mentioned that the U.S. was preparing federal financing tools to support AI tech exports to approved countries. China has always rallied against alleged U.S. surveillance and the administration’s efforts to limit its tech industry. The country’s cyberspace administration summoned Nvidia representatives last week to discuss U.S. efforts towards incorporating location-tracking to its H20 chips. Beijing is also worried about semiconductor sanctions designed to counter the country’s AI companies, such as Huawei Technologies and DeepSeek. The Trump administration plans to remove export restrictions on Nvidia’s chips to China as part of a trade agreement to secure sales of rare-earth minerals to the U.S. Nvidia mentioned on Tuesday that it distances itself from any backdoors or kill switches in its chips, noting that they undermine trust in U.S. technology. The company argued that using backdoors, kill switches, or spyware doesn’t mirror the company’s systems, which are built on trust. Kratsios also championed China’s AI action plan, saying that each country should set its own standards for regulating artificial intelligence. The country’s AI action plan includes forming a global organization to devise governance and technology standards. The White House official also believes the U.S. model will be the most attractive since it puts innovation first. $BTC $ETH $TRX $XRP