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.
What just happened? It's been an eventful weekend for TikTok. US users found they were unable to access the app on Saturday, the day before the law banning it in the United States came into effect. But services were being restored on Sunday when President Donald Trump said he would sign an executive order to delay the ban, giving TikTok more time to reach a deal that will allow it to stay in the US.
In brief: News that TikTok could escape the US ban that will be introduced on Sunday has brought joy to the millions of people who use the app in the US. But it's unlikely that rival platforms, especially Meta, will be celebrating. It's estimated that Mark Zuckerberg's firm would bring in up to $3.38 billion from freed up ad revenue should TikTok disappear from app stores.
"After years of pretending to be Democrats, Big Tech leaders are now pretending to be Republicans"
A hot potato: In a scathing critique of tech industry leaders, Epic Games founder and CEO Tim Sweeney has accused prominent executives of cozying up to President-elect Donald Trump in an attempt to influence anti-competitive policies. Sweeney's comments, shared on the social media platform X, highlight growing concerns about the relationship between big tech and the incoming administration.