Tag: stocks

  • JD Vance says Trump administration eyeing China crackdowns, with stocks in crosshairs

    JD Vance says Trump administration eyeing China crackdowns, with stocks in crosshairs

    The Trump administration is weighing tough crackdowns on China, including pulling Chinese stocks from U.S. exchanges, Vice President JD Vance told FOX Business’ Maria Bartiromo.

    “I think we need to look at everything,” he said in an interview segment that aired during “Mornings with Maria” on Monday. 

    “We need to look at tariffs. We need to look certainly at some restrictive activities when it comes to their stock exchanges. We need to look at ways of pushing back against intellectual property theft. We need to look at ways maybe of expelling certain Chinese nationals who are using our openness as a society to take advantage of the United States of America.”

    CANADA, MEXICO ANNOUNCE RETALIATORY TARIFFS ON US IMPORTS IN RESPONSE TO TRUMP’S TARIFFS ON AMERICAN NEIGHBORS

    Vice President J.D. Vance speaks to Fox Business’ Maria Bartiromo in an interview that appeared on “Sunday Morning Futures” and “Mornings with Maria.” (FOXBusiness)

    Vance sat down with Bartiromo for an exclusive “Sunday Morning Futures” interview when tensions with China – especially in light of President Trump’s tariffs – came into focus.

    While he declined to “make any commitments” on Trump’s behalf, he disclosed that Trump is considering everything as a possibility while his administration “fight[s] back against the threat to our country.”

    The White House announced on Saturday that the Trump administration is implementing a 25% additional tariff on imports from Canada and Mexico and a 10% additional tariff on imports from China, in a move intended to hold the three countries “accountable to their promises of halting illegal immigration and stopping poisonous fentanyl and other drugs from flowing into our country.” 

    HOW TRUMP’S TARIFF THREATS COULD IMPACT FOREIGN POLICY

    Trump Oval Office

    U.S. President Donald Trump talks to reporters after signing an executive order, “Unleashing prosperity through deregulation,” in the Oval Office on January 31, 2025 in Washington, DC. Trump spoke to reporters about tariffs against China, Canada and (Chip Somodevilla/Getty Images / Getty Images)

    Neighboring countries Mexico and Canada responded with retaliatory tariffs.

    A spokesperson for the Chinese Foreign Ministry, meanwhile, argued that unilateral tariff hikes “severely violate” World Trade Organization rules and “cannot solve the U.S.’s problems at home and more importantly, does not benefit either side, still less the world.” 

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    Fox News Digital’s Danielle Wallace contributed to this report.

  • Chinese app DeepSeek hammers US tech stocks with cheaper open-source AI model

    Chinese app DeepSeek hammers US tech stocks with cheaper open-source AI model

    Chinese AI startup DeepSeek is gaining attention in Silicon Valley as the company appears to be nearly matching the capability of chatbots like OpenAI’s ChatGPT, but at a fraction of the development cost.

    DeepSeek has surged in popularity in global app stores since the app was released earlier this month, having been downloaded1.6 million times by Jan. 25 in the U.S. and ranking No. 1 in iPhone app stores in Australia, Canada, China, Singapore, the U.S. and the U.K. Unlike ChatGPT and other major AI competitors, DeepSeek is open-source, allowing developers to offer their own improvements on the software.

    The company unveiled R1, a specialized model designed for complex problem-solving, on Jan. 20, which “zoomed to the global top 10 in performance,” and was built far more rapidly, with fewer, less powerful AI chips, at a much lower cost than other U.S. models, according to the Wall Street Journal.

    Meta’s Chief AI scientist, Yann LeCun, took to social media to speak about the app and its rapid success.

    AI WILL BE THE MAJOR FOCUS AT LAS VEGAS CONSUMER ELECTRONICS SHOW

    A chatbot app developed by the Chinese AI company DeepSeek (Getty Images / Getty Images)

    He pointed out in a post on Threads, that what stuck out to him most about DeepSeek’s success was not the heightened threat created by Chinese competition, but the value of keeping AI models open source, so anyone could benefit. 

    “It’s not that China’s AI is ‘surpassing the US,’ but rather that ‘open source models are surpassing proprietary ones,’” LeCun explained.

    OPENAI CEO SAM ALTMAN RINGS IN 2025 WITH CRYPTIC, CONCERNING TWEET ABOUT AI’S FUTURE

    The new potential of open source AI development caused waves in the stock market, causing some traders to sell off shares in companies like Nvidia, which develops the computer chips typically necessary for brute-force AI training.

    OpenAI ChatGPT

    In this photo illustration, the OpenAI logo is seen displayed on a mobile phone screen with ChatGPT logo in the background.  (Photo Illustration by Idrees Abbas/SOPA Images/LightRocket via Getty Images / Getty Images)

    Experts told the Journal that DeepSeek’s technology is still behind OpenAI and Google. However, it is a close rival despite using fewer and less-advanced chips, and in some cases skipping steps that U.S. developers consider essential.

    As of Saturday, the Journal reported that the two models of DeepSeek were ranked in the top 10 on Chatbot Arena, a platform hosted by University of California, Berkeley researchers that rates chatbot performance.

    Meta headquarters

    Signage outside Meta headquarters in Menlo Park, California, on Thursday, Feb. 1, 2024.  (Photographer: David Paul Morris/Bloomberg via Getty Images / Getty Images)

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    While DeepSeek’s flagship model is free, the Journal reported that the company charges users who connect their own applications to DeepSeek’s model and computing infrastructure.

    Fox Business’ Stepheny Price contributed to this report