Trump takes questions from reporters after announcing fighter jet contract
President Donald Trump and Defense Secretary Pete Hegseth deliver remarks from the White House.
43:05
https://www.youtu.be/-lK0fSTeUs8?si=aNZbJziiXZY9zMF_
Nvidia will spend hundreds of billions on US manufacturing, says CEO
Chipmaker’s promise is a sign that Trump’s ‘America First’ policy is affecting investment
Kalyeena Makortoff Thu 20 Mar 2025 05.59 EDT
The boss of the world’s biggest computer chipmaker,Nvidia, has promised that the company will shell out “several hundred billion” dollarsto make semiconductors and other electronics in the USover the next four years.
The comments from Jensen Huang illustrate how the California-headquarteredAI chipmaker is remodelling its supply chain away from Asiaamid unpredictable tariff threats by Donald Trump.
The chief executive, who also co-founded Nvidia, told the Financial Times: “Overall, we will procure,over the course of the next four years, probably half a trillion dollars worth of electronicsin total.
And I think we caneasilysee ourselves manufacturingseveral hundred billion of it here in the US.”
The remarks are thelatest example of how Trump’s “America First” policyis having an impact on business investment, even forcing groups such as Nvidia – which is among the world’s most valuable companies – to rethink their global footprint.
The Silicon Valley company, founded in 1993, has been the engine of the AI market boom, with hype around the technology propelling its valuation to a stratospheric $2.9tn (£2.2tn). But in recent years it andother big US tech companies, such as Apple, have become increasing dependent on chipmaking facilities in Taiwan run by TSMC and Foxconn – a supply chain now under threat from trade wars and from China’s territorial designs on its neighbour.
Huang said he was confident that Nvidia was well-positioned to deal with any worsening situation inTaiwan, which is also vulnerable to earthquakes. “At this point, we know that we can manufacture in the US, we have a sufficiently diversified supply chain,” he added.
He added that theTrump administrationcould bein a position to bolster the US AI industryat a time of growing competition from China.
Huawei, for example, had become the “single most formidable technology company in China”, having “conquered every market they’ve engaged”. Huang argued US efforts to constrain the Chinese company had.
For now,“having the support of an administration who cares about the successof this industryand not allowing energy to be an obstacleis a phenomenal result for AI in the US”, Huang said, referring to the large amount of electricity needed to power its chips in datacentres.
Efforts to onshore manufacturing have beenhelped by a recent $100bn US investment by TSMC. The Taiwanese semiconductor firm’s investment means that Nvidia’s Blackwell chips – its top-of-the-line graphics processing unit – are being produced in the US, providing for “a substantial step up in our supply chain resilience”.
https://www.theguardian.com/technology/2025/mar/20/nvidia-us-manufacturing-ceo-jensen-huang-donald-trump
Tesla owners are trading in their EVs at record levels, Edmunds says
Published Thu, Mar 20 20257:38 PM EDT (the bury the lead at the last sentence. CNBC gloating)
• Data from Edmunds shows that Tesla owners have been trading in their vehicles at record levels since CEO Elon Musk joined Trump’s White House.
• March represented “the highest ever share” Edmunds had seen for Tesla trade-ins toward new or used cars from brands sold at auto dealerships.
• “Shifts in Tesla consumer sentiment could create an opportunity for legacy automakers and EV startups to gain ground,” Jessica Caldwell, head of insights at Edmunds, wrote in an email.
As Elon Musk wraps up his second month in the White House, Tesla owners are trading in their electric vehicles at record levels, according to an analysis by national car shopping site Edmunds.
The data from Edmunds published on Thursday said that March represented “the highest ever share” it had seen for Tesla trade-ins toward new or used cars from dealerships selling other brands.
Since heading to Washington, D.C., in January as a central figure in the second Trump administration, Musk, who is CEO of Tesla, has been slashing the federal workforce and government spending, and has gained access to sensitive government computer systems and data, though his efforts have been repeatedly challenged in court.
Before assuming leadership of the so-called Department of Government Efficiency, or DOGE, Musk spent around $290 million last year to help propel President Donald Trump back to the White House.
While investors snapped up Tesla shares after Trump’s victory in November, they’ve been rushing for the exits of late, pushing the stock’s price down by 42% this year. Waves of protests have targeted Tesla facilities in the U.S. and beyond. Other criminal acts of vandalism and arson have targeted Tesla stores, vehicles and charging stations across the U.S.
In addition, Tesla is facing increased competition from EV makers. In January, S&P Global Mobility found Tesla sales declined about 11% year over year in the U.S., while Ford, Chevrolet and Volkswagen bolstered their sales of EVs, picking up market share.
“Shifts in Tesla consumer sentiment could create an opportunity for legacy automakers and EV startups to gain ground,” Jessica Caldwell, head of insights at Edmunds, wrote in an email. “As Tesla brand loyalty and interest wavers, those offering competitive pricing, new technology, or simply less controversy could capture defecting Tesla owners and first-time EV buyers.”
The Tesla brand, more than that of any other automaker, is tightly tied to its CEO. In August 2024, Edmunds surveys found that just 2% of car shoppers in the U.S. were unfamiliar with Musk.
Edmunds also said that shopping for new models of Tesla vehicles on its platform dropped to its lowest level last month since October 2022 after peaking as late as November.
Even before Musk began heading up DOGE, Tesla’s brand was suffering. Its brand value fell by 26%, or about $15 billion, in 2024, a second straight annual decline, according to research and consulting firm Brand Finance.
Many car shoppers trade in their Tesla EVs for a newer model Tesla. Edmunds data didn’t account for those transactions.
https://www.cnbc.com/2025/03/20/tesla-owners-are-trading-in-their-evs-at-record-levels-edmunds-says.html
21 Mar, 2025 15:19
Seizing Russian assets would be ‘an act of war’ – Belgian PM
The move would trigger retaliation from Moscow, Bart De Wever has warned
Confiscating Russian assets frozen in the EU would be considered “an act of war,” Belgian Prime Minister Bart De Wever has warned, according to Politico. He cautioned that the move would likely provoke a response from Moscow.
Western countries froze an estimated $300 billion worth of Russian sovereign funds following the escalation of the Ukraine conflict in February 2022. Around $213 billion of that is held by Euroclear, a Brussels-based clearing house. The frozen funds have already accrued billions in interest, of which Euroclear transferred €1.55 billion ($1.63 billion) to Kiev last July.
Speaking to reporters after a meeting of EU leaders in Brussels on Thursday,De Wever warned that seizing Russian assets would pose “systemic risks to the entire global financial system” and could trigger retaliation from Moscow.
“We’re not living in a world of fantasy. We’re in the real world, where if you take €200 billion from somebody there will be consequences,” the outlet quoted the Belgian prime minister as saying on Thursday.
De Wever’s warning comes as some EU countries including France and Spain have been pushing to confiscate Russian frozen assets as they seek to use the funds to strengthen Ukraine’s defense and improve its negotiating position in any future peace talks with Russia, the article noted.
Earlier this month, French Defense Minister Sebastien Lecornu announced that Paris will use interest accrued on Russian assets frozen in European banks to buy weapons for the Ukrainian military, a move condemned by Moscow.
While proceeds generated from the frozen funds are already being used to back a $50 billion loan for Ukraine provided by the G7,most Western nations have stopped short of directly confiscating the assets.
According to Politico,Belgium has a major stake in the issue as Euroclear is based in Brussels.
The country is reportedly concerned that handing over the funds to Kiev could expose Euroclear to additional legal claims from asset holders. Euroclear is already entangled in legal battles with several parties, many of whom have turned to Russian courts to challenge the asset freeze and demand compensation.
The International Monetary Fund has also warned that seizing the funds without a clear legal framework could erode global trust in Western financial institutions.
The Kremlin has condemned any attempts to confiscate Russian assets, labeling them “theft” and warning of serious legal repercussions. Russia has also hinted at potential retaliatory measures against Western investments in the country.
https://www.rt.com/news/614592-belgium-russian-frozen-assets/
21 Mar, 2025 14:23
Trump eyeing Crimea as ‘international resort’ – Hersh
The renowned American journalist has claimed that the US president wants to do business with Putin
US President Donald Trump is reportedly considering lifting sanctions against Moscowin order to turn Russia’s Crimean Peninsula into a major international resort, Pulitzer Prize-winning journalist Seymour Hersh has reported, citing a White House official.
Since his inauguration in January, Trump has pursued direct negotiations with Russian President Vladimir Putin to end the conflict in Ukraine. Hisadministration has indicated that it is open to recognizing Moscow’s sovereignty over Crimea and some of the Donbassas part of a potential peace deal.
The Republic of Crimea and the city of Sevastopol officially joined Russia in 2014 following public referendums; they were followed in 2022 by the Donetsk and Lugansk People’s Republics and the regions of Kherson and Zaporozhye. Kiev continues to claim the territories as its own and has vowed to take them back, butMoscow has insisted that their status is non-negotiable.
In a post on his Substack blog on Thursday, Hersh reported thatTrump’s broader aim is to improve US-Russia relations through economic cooperation. The president, he says, is seeking to lift sanctions imposed since 2014 and 2022 and “form a partnership with Putin aimed at turning Crimea into a major international resort.”The official sourcecited in Hersh’s report added that“they might do the same in Donbass.”
The journalist noted that Trump’s approach is markedly different from that of the administration of Joe Biden, with his unnamed sourcedescribing the current president as an “economic winner.” Trump’s reported interest in Russian energy and natural resource assets includes oil, gas, and unmined rare earth metals.
Since taking office in January, Trump has reversed several foreign policy positions on Moscow. Following a phone call with Putin in February, US and Russian delegations met in Saudi Arabia, with both sides agreeing to restore diplomatic ties and explore joint business ventures after the Ukraine conflict is resolved.
Trump and Putin held another phone call on Tuesday to discuss a US-proposed ceasefire. According to statements from both sides, the conversation was productive, with Russia agreeing to a one-month halt on strikes against Ukrainian energy infrastructure as talks continue.
https://www.rt.com/russia/614596-trump-crimea-resort-hersh/
21 Mar, 2025 15:501/2
Broken promises and burned pipelines: Why diplomacy with Kiev is a dead end
Ukraine blew up a Russian gas facility just days after a mutual agreement not to do just that. As if anyone expected something different.
By Nadezhda Romanenko, political analyst
In a brazen act of duplicity, Ukrainehas once again demonstrated that it is not a reliable partner for diplomacy – let alone peace.
Mere days after a US-brokered agreement saw Moscow and Kiev commit to a mutual moratorium on targeting each other’s energy infrastructure, Ukrainian forces reportedly launched a deliberate strike on a gas metering station in Russia’s Kursk region. This was no accident, no miscommunication, and no unfortunate timing—it was a calculated breach of trust and yet another glaring signal that Ukraine cannot be reasoned with.
The agreement in question was a result of a bold and rare diplomatic effort led by President Donald Trump, who had secured direct conversations with both Russian President Vladimir Putin and Ukrainian leader Vladimir Zelensky.
Despite the immense complexities of this long-running conflict, Trump managed to extract a commitment from both sides: a 30-day freeze on attacks against energy infrastructure. It was a starting point – modest, but meaningful.
And yet, even that modest agreement was too much for Kiev to honor.
Russia, for its part, not only adhered to the ceasefire but did so with a level of discipline and self-restraint that should have been headline news across the globe.In a show of integrity seldom seen in modern warfare, Russian forces actively intercepted and shot down their own drones – already airborne and en route to targets – because those drones had been launched prior to the agreement’s announcement.That is a serious country taking a serious peace process seriously.
Contrast that with Kiev’s conduct. According to reports from the ground and satellite imagery, a Ukrainian strike targeted the gas infrastructure facility near Sudzha in Russia’s Kursk region. The attack caused a fire, damage to critical energy infrastructure, and sent a clear message: Ukraine is not interested in honoring its word, and it certainly isn’t interested in diplomacy – only escalation.
This latest incident is not occurring in a vacuum. It is part of a long and well-documented pattern of deception and provocation, especially in the face of good-faith overtures by Russia.
Let’s go back. In 2014, the Minsk agreementswere hailed as the roadmap to a peaceful resolution in the Donbass. Russia backed them, and Western leaders nodded approvingly. But years later, former Western officials themselves openly admitted that Minsk was never intended to be implemented – it was merely a ploy to buy time for Kiev to rearm. In other words, a lie from the very beginning.
In 2022, there was another real opportunity. Talks in Istanbul between Russian and Ukrainian negotiators reportedly came close to a viable ceasefire.But just as Kiev was nearing a deal, then-British Prime Minister Boris Johnson intervened, reportedly urging Ukraine to walk away from the table. The result? Thousands more lives lost and the door to peace slammed shut once again.
https://www.rt.com/russia/614599-kiev-gas-attack-trust/
2/2
Now, in 2025, with yet another window of opportunity pried open through diplomacy – this time led by Trump– Ukraine has apparently chosen to burn it down. Literally. The Kursk attack is not a deviation from Ukraine’s diplomatic record; it is the continuation of it.
To President Trump’s credit, his efforts thus far have been the most realistic of any Western leader since the conflict began. Unlike the performative moralizing of his predecessor or the reckless interference of EU and UK heads of state,Trump’s approach has been grounded in pragmatism: reduce civilian suffering, de-escalate the war incrementally, and restore a framework for diplomacy. But those efforts require a willing partner.
Russia has signaled, time and again, that it is ready. Even now, despite this attack,Moscow has not withdrawn from the agreement. It is attending talks. It is engaging. It is showing up to the table. But the table is increasingly starting to look like a trap, set for anyone naive enough to believe Kiev’s promises.
And that is the central, bitter truth: Kiev has shown not just unreliability, but outright duplicity. It will sign agreements, only to break them. It will smile for the cameras, only to sabotage talks behind the scenes. It will invoke Western values while acting in direct opposition to the very foundations of diplomacy and peace.
For Washington – especially President Trump – this should be the wake-up call. The Kursk strike wasn’t just an attack on Russian infrastructure; it was an attack on diplomacy itself. It was an attack on the possibility of peace.
The world has now seen, repeatedly, who honors their word and who discards it the moment it’s politically convenient.Russia has shown that it is willing to pause, to restrain, to negotiate. Ukraine has shown that it will exploit every agreement, twist every olive branch into a weapon, and backstab at every opportunity.
There can be no more illusions. No more Minsk-style traps. No more Istanbul disappointments.If there is to be peace, it cannot be built on the quicksand of Kiev’s promises. Any further negotiations must be predicated on reality – not hope – and the reality is this: one side is showing maturity, consistency, and openness. The other is showing that it cannot be trusted, or even talked to.
https://www.rt.com/russia/614599-kiev-gas-attack-trust/
21 Mar, 2025 14:56
Hungary secures Russian sanctions exemption from US
The waiver will allow Budapest pay for gas via Gazprombank, the Hungarian foreign minister has said
Budapest and Washington have agreed to exempt Hungarian payments for Russian gas from US sanctions, Hungarian Foreign Minister Peter Szijjarto has said. The transactions have been impossible since Washington cut Russia’s Gazprombank, the last Russian lender to retain access to the SWIFT interbank messaging system, off from the US banking system in November.
The US Treasury Department restrictions imposed blocking sanctions on more than 50 Russian financial institutions, including Gazprombank, and six of its international subsidiaries.
“Yesterday, we received information from Washingtonthat Gazprombank has been granted an exemption from sanctions as per our request,” Szijjarto said at a joint press conference with Turkish Foreign Minister Hakan Fidan in Ankara.
He emphasized that the waiver would ensure the security of Hungary’s natural gas supply, adding that by imposing energy-related sanctions theprevious US administration had been “deliberately trying to create difficultieswith natural gas supply for countries in the region.”
Szijjarto also hailed the “rational” approach adopted by US President Donald Trump towards Hungary, applauding his White House for following “common sense” and “recogniz[ing] the critical role of infrastructure” when it comes to energy supplies.
Earlier this month,the Trump administration let so-called General License 8 expire, which had allowed energy transactions with Russian lenders. The 60-day wind-down period that provided 12 major Russian financial institutions, including the country’s central bank, limited access to US payment infrastructure was put in place under former President Joe Biden.
In January, theoutgoing US administration imposed a “sweeping” round of sanctionson Russia in coordination with the UK. The measures targeted two major oil producers, Gazprom Neft and Surgutneftegaz, as well as over 180 vessels allegedly used to transport Russian oil in contravention of Western restrictions.
Moscow has repeatedly slammed Western sanctions as illegal. Top officials, including Russian President Vladimir Putin, say the restrictions have failed to achieve their goal of destabilizing the Russian economy and isolating the country from the global financial system. Instead, the Kremlin maintains they have backfired on the nations that imposed them.
https://www.rt.com/russia/614594-hungary-us-sanctions-gas-russia/
21 Mar, 2025 15:10
Germany’s Baerbock denied handshake by Syrian leader – again
A similarly awkward scene took place when the German foreign minister visited Damascus in January
German Foreign Minister Annalena Baerbock has been denied a handshake by Syrian President Ahmed Hussein al-Sharaa during their latest meeting in Damascus.
A video from the talks on Thursday has captured al-Sharaa avoiding physical contact with the foreign dignitary and simply pointing her to her chair with his hand.
A similarly awkward scene happened during Baerbock’s first trip to the Syrian capital together with her French counterpart Jean-Noel Barrot in early January. At the time, al-Sharaa shook hands with Barrot, but explicitly avoided doing the same with Germany’s top diplomat, placing his right hand on his heart instead.
Baerbock noted at the time that the new Syrian leader’s behavior did not surprise her at all, saying that “as I traveled here, it was clear to me that there would obviously be no ordinary handshakes.”
Al-Sharaa, best known by his nom de guerre Abu Mohammad al-Julani, has been de facto ruler of Syria since the fall of the country’s longtime president Bashar Assad in early December, in which hisHayat Tahrir al-Sham (HTS) jihadist group played a key role. (So European countries will open up diplomatic connections with jihadists, that kill Christians, but not the Assad, seems pretty weird.)
The 42-year-old, who had been appointed interim president in late January, is known for refusing to shake hands with women due to his hardline Islamist views.
Baerbock also reopened Germany’s embassy in Damascus, 13 years after it was shut down shortly after the outbreak of the Syrian conflict, in whichBerlin and other Western powers backed militants, often ISIS linked, fighting against the Assad government.
Earlier this month, clashes erupted in the coastal part of Syria between the country’s new security forces and local militias, described in Western media as Assad loyalists.
At least 1,300 people, including more than 800 civilians, have reportedly been killed in the provinces of Latakia and Tartus. The victims were mostly Christians and Alawites.
Alawites, a Muslim ethnoreligious group which celebrates Christmasand maintains other distinctive local traditions, are regarded negatively by hardline Islamists, who believe them to be apostates.
https://www.rt.com/news/614595-baerbock-germany-syria-handshake/