Daily Summary
Trump’s new tariffs have severely impacted Asian manufacturing—particularly in Vietnam—triggering a major Wall Street sell-off and straining international trade relations, including with China. At the same time, the EU is easing tech regulations and cutting reporting burdens for AI investment to boost competitiveness, despite pushback from the US and large tech firms. Together, these developments highlight escalating global economic and regulatory conflicts.
EU Cuts Tech Regulations to Spur AI Investment, Digital Chief Says
The EU is reducing tech regulations to boost AI investments and competitiveness by scaling back reporting requirements, according to digital chief Henna Virkkunen. This move comes despite US political pressures and criticisms from big tech companies.
Trump Tariff Blitz Harms 'Factory Asia'
U.S. President Donald Trump's aggressive new tariffs, including over 60% on Chinese imports and steep tariffs on Southeast Asian economies, have triggered severe market sell-offs and are severely impacting Asian manufacturing, particularly in Vietnam.