After teasing a potential veto of the colossal $1.3 trillion omnibus, President Donald Trump signed the spending bill into law Friday, touting it as a "matter of national security." "We had no choice but to fund our military because we have to have by far the strongest military in the world," Trump said during an impromptu White House press event. "You see the players out there, and you see what we are dealing with."
The new measures are designed to penalize China for trade practices that the Trump administration says involve stealing American companies' intellectual property. They will primarily target certain products in the technology sector where China holds an advantage over the U.S.
First daughter and presidential adviser Ivanka Trump was “really impressed” by what she saw Monday at a school innovation center where students get hands-on experience in engineering, biosciences, insurance and business technology and communications, Gov. Kim Reynolds said.
Qualcomm, the Trump administration argues, is needed to boost America's lead in 5G research and development. Should the San Diego chipmaker fall behind, Chinese manufacturers could fill the void in U.S. and global markets. That would be a blow for U.S. innovation, as the mass market could be beholden to foreign hardware. Worse, Beijing could have an advantage in discovering vulnerabilities in the technology that it could turn into so-called backdoors used for spying.
President Donald Trump blocked Singapore chipmaker Broadcom from pursuing a hostile takeover of U.S. rival Qualcomm, ruling the proposed combination would imperil national security. The decision, announced late Monday, abruptly ends Broadcom's four-month, $117 billion bid to buy Qualcomm -- a deal that would have been the largest ever completed in the technology industry.
"It is not just China, it is not just chips. It is broad technology. It is U.S. military power and economic power going forward and he's got a very consistent point of view," said Ron Napier, head of Napier Investment Advisors. "Trump has been saying all year long since he was inaugurated that security is very important to him, technology is very important to him, trade is very important to him and getting jobs back to the United States is very important to him. He's making this all into one fabric," he added.
MSNBC host Chris Matthews said President Donald Trump is using tariffs to look out for “people that nobody else is looking out for” and argued that tariffs are also very much a “cultural issue” in the Rust Belt.
The Chinese patent system has come a long way since the first intellectual property laws were passed in China in 1985. Many would argue that China’s budding patent system has actually surpassed America’s older and more established patent system (which has been around since 1790 when then-President George Washington signed the first U.S. patent) in speed and efficiency and in providing strong patent protection to innovative companies and emerging startups as well as to individual inventors.
As the United States and China look to protect their national security needs and economic interests, the fight between the two financial superpowers is increasingly focused on a single area: technology. The clash erupted in public on Tuesday after the United States government, citing national security concerns, called for a full investigation into a hostile bid to buy the American chip stalwart Qualcomm -- a review that is often a death knell for a corporate deal.
In January, Facebook introduced a major change to its newsfeed algorithm. In a post, CEO Mark Zuckerberg claimed that the change aimed to give greater emphasis to posts from “friends, family and groups” and less to “businesses, brands and media.” The change was followed by a promise to promote what Facebook calls “broadly trusted” news sources on the platform.