Authored by Jack Phillips via The Epoch Times,

The IRS on Monday said that all residents and businesses in Arkansas now have until Nov. 3 to file their income taxes due to severe storms, tornadoes, and floods that hit the state earlier this month.

Starting on April 2, severe storms that spawned tornadoes and flash flooding hit the state, with Arkansas Gov. Sarah Huckabee Sanders signing an executive order over the past weekend to provide relief to parts of the state impacted by the weather.

The IRS extension postpones deadlines for tax filings and payments between April 2 and Nov. 3 of this year, according to a statement.

“As a result, affected individuals and businesses will have until Nov. 3, 2025, to file returns and pay any taxes that were originally due during this period,” the IRS statement said.

Specifically, the extension applies to individual income tax returns and payments that are due on April 15, contributions to health savings accounts and individual retirement accounts in 2024, quarterly estimated taxes between the aforementioned dates, quarterly payroll taxes due in that time period, calendar-year corporation and fiduciary returns and payments due on April 15, and calendar-year tax-exempt organization returns due on May 15.

“In addition, penalties for failing to make payroll and excise tax deposits due on or after April 2, 2025, and before April 17, 2025, will be abated if the deposits are made by April 17, 2025,” the IRS said.

Also on Monday, the IRS announced an extension for the entire state of Tennessee due to the storms, tornadoes, and flooding for businesses and individual taxpayers.

The IRS this year already announced filing extensions for Americans in multiple states due to weather-related incidents. Some individuals’ and businesses’ taxes are due by May 1, and people in three states have deadlines in the fall to submit their taxes.

The May 1 deadline applies to taxpayers impacted by disaster declarations issued by the Federal Emergency Management Agency (FEMA) last year, including taxpayers in the entire states of Alabama, Florida, Georgia, North Carolina, and South Carolina, and in Juneau, Alaska; Chaves County, New Mexico; and dozens of counties in Virginia.

The IRS also said that taxpayers in Los Angeles County, California, who were impacted by devastating wildfires in the Pacific Palisades area in January can file their taxes by Oct. 15.

Aside from those locations, taxpayers in all of Kentucky and taxpayers in the West Virginia counties of Boone, Greenbrier, Lincoln, Logan, McDowell, Mercer, Mingo, Monroe, Raleigh, Summers, Wayne, and Wyoming can submit their taxes by Nov. 3, the IRS also said.

For everyone else, the deadline to file their individual income taxes is April 15, or Tax Day.

People filing their taxes electronically will typically see their refund deposited within three weeks, or 21 days, after the return has been accepted, the IRS says.

The agency has warned that taxpayers should not rely on getting their refund back by a certain date, namely when paying bills or making significant purchases.

“Some returns may require additional review and may take longer. Also, remember to take into consideration the time it takes for a financial institution to post the refund to an account or to receive it by mail,” the IRS said.

China’s largest trade show kicked off on Tuesday in Guangzhou, located in South China’s Guangdong Province. According to state-run media, the event features 31,000 exhibitors and so far attracted 200,000 overseas buyers—including mega US retailer Walmart—despite ongoing trade tensions with the U.S. 

Amid global trade frictions, the 137th Canton Fair has opened in Guangzhou with a mood of resilience. Businesses worldwide are showcasing cutting-edge innovations, adapting to shifting market dynamics. CGTN’s Li Shuang explores how exhibitors find opportunities. #CantonFair2025 pic.twitter.com/LBKL5M85Hu

— China Takeaway (@China24Official) April 15, 2025

Global Times said 255 top global retailers, including Walmart, Carrefour, Tesco, and Metro, are attending the 137th China Import and Export Fair (Canton Fair) to search for the latest and greatest products.

The 137th Canton Fair unveiled its Service Robots Zone in Area D to meet buyers’ expectation. At Booth 21.2B61-64, Hangzhou Yushu Technology Co., Ltd. showcased its humanoid robot, the G1. pic.twitter.com/543TrKD47Z

— Canton Fair (@cantonfair) April 15, 2025

One US supplier told the state-run media outlet that American buyers remain dependent on Chinese products. 

“Even when sourcing from other countries, the goods are often still manufactured in China. Whether the tariff is included or the goods are imported from elsewhere, American importers and consumers will ultimately bear the costs.

“In appliances like air conditioners, Chinese products’ price-to-performance ratio has no global rival. While imports may be paused for a month to monitor tariff policies, we’ll return to Chinese manufacturers.” 

Global Times cited other global suppliers that boasted about China “possessing the world’s most comprehensive supply chain” to build low-cost electronics, home goods, and all other items. 

Another buyer—this time from Germany—told the media outlet that “Chinese goods are hard to replace,” adding that the trade war has unleashed uncertainty across global markets. 

Global Times made it clear:

The main reason for global buyers to stick to Chinese products is the favorable price-to-performance ratio.

One key challenge in restructuring global supply chains—whether through friend-shoring or reshoring—is that such transitions take time. In the interim, top suppliers will continue relying on China (or other Southeast Asian countries) for specific goods.

Walmart’s attendance at China’s largest trade show highlights just how unlikely a complete decoupling between the world’s two largest economies truly is. Instead, the U.S. is expected to prioritize reshoring critical supply chains—such as semiconductors, rare earths, drones, and robotics—that are essential to national defense.

Meanwhile, China can continue dominating soft-line manufacturing, such as footwear and luxury handbags. If America intends to dominate the 2030s, it must focus on expanding the capacity of advanced production lines at home, including ones for drones, robotics, and chips.

Update (1442ET):

Goldman analysts Noah Poponak and others reacted to Bloomberg’s report earlier this morning regarding China’s suspension of Boeing jet deliveries amid the deepening trade war between the U.S. and China.

“We think the impact to Boeing is very small because China had already stopped taking Boeing deliveries and stopped ordering Boeing aircraft during the last Trump administration, such that there is no real reduction to implement,” Poponak wrote in a note to clients in the late afternoon hours of the cash session. 

The analyst continued:

Per company data, customers from China have only ordered 28 aircraft since 1/1/2018 (ex. unidentified customers), and China is 2% of Boeing’s large backlog that is sold out through 2030 with other customers. China was in the built but not delivered inventory balance, but the majority of that has now been delivered with around only 25 737-8 MAX aircraft (produced prior to 2023) left designated to the country. Boeing has previously stated that it can build a multi-year delivery skyline assuming China is not taking airplanes over at least a medium-term window, while it operates in a long-term secular growth market where all other regions have substantial growth and replacement needs.

“We are buy-rated on the stock,” he added.

He explained that China was once a “meaningful portion of Boeing’s total order and delivery activity,” but not since President Trump’s first term, which resulted in the first trade war round with Beijing.

The activity chart data shows Boeing’s order activity with China plummeted after 2016.

Boeing deliveries to China, 2010 to present day.

Trump will likely need to sprinkle some Max jets and 777s in any trade deal when he renegotiates with Beijing. 

*     *     * 

Days after Juneyao Airlines postponed the delivery of a widebody jet from Boeing, Beijing has escalated its trade war response—quietly ordering all Chinese carriers to suspend further Boeing deliveries, according to Bloomberg, citing people familiar with the situation. The move marks a broadening of non-tariff retaliation amid a deepening tit-for-tar trade war between the U.S. and China. 

Here’s more color from the report:

China has ordered its airlines not to take any further deliveries of Boeing Co., according to people familiar with the matter.

. . . 

Beijing has also asked that Chinese carriers halt any purchases of aircraft-related equipment and parts from U.S. companies, the people said, asking not to be identified discussing matters that are private.

The order came after China unveiled retaliatory tariffs of 125% on American goods this past weekend, the people said.

. . .

The Chinese government is also considering ways to provide assistance to airlines that lease Boeing jets and are facing higher costs, the people said.

. . .

Delivery paperwork and payment on some of these jets may have been completed before the reciprocal tariffs announced by China on April 11 took effect on April 12, and those planes may be allowed to enter China on a case-by-case basis, some of the people said.

Last week, Beijing hiked its effective tariff rate on US goods to 125%, countering President Trump’s 145% tariff rate. 

Beijing also shifted to non-tariff retaliation, limiting Hollywood film imports, slowing rare earth export shipments, and weakening the yuan. 

The Bloomberg report sent Boeing shares down roughly 3.5% in New York trading. The stock is down 10% year-to-date (as of Monday’s close) and hovering near Covid-era lows, still showing no signs of a meaningful recovery.

Let’s not forget that China’s non-tariff countermeasures may also include:

• Export Controls and Quotas

• Currency Devaluation

• Boycotts (State-Inspired)

• Licensing & Certification Hurdles

• Restricting Market Access

• Pressure Big Tech With Cybersecurity & Data Laws

• Limiting Cultural Imports

• Selling U.S. Treasuries

The trade war might be far from over…

By Michael Every of Rabobank

The US has opened two new Section 232 trade actions likely to lead to 25% tariffs on semiconductors and pharma, as already flagged. Obviously, both industries will reel, and Ireland is likely to take a particularly large hit.

President Trump also suggested he may temporarily pause auto parts tariffs for firms shifting production to the US. Expect other industries to ask for the same, and to get the same response: only for a while, and only if you are moving production Stateside.

US Treasury Secretary Bessent has a shortlist of countries for trade deals: Japan, South Korea, Australia, the UK, and India – plus Canada and Mexico. Vietnam and ASEAN are loitering outside the door, being deeply entwined with China’s economy, but mostly running huge trade deficits with it and equally huge surpluses with the US. President Trump is unhappy with Vietnam’s recent state visit from China’s Xi –with calls for a joint stance against “bullying” and 45 deals signed– but Hanoi boosting its defence budget 30% could mean it buys US F-16s, and more, to narrow the bilateral trade deficit. However, that’s almost certainly not going to be all the US demands. From a statecraft perspective, it will want countries to mirror what it is doing vis-à-vis China, creating a new closed trade/finance/energy/defence loop.

As the US snaffles up those trade partners, plus the Middle East (more on which shortly), who would that leave for Europe to deal with if it didn’t join that gang? Micronesia and those penguins who are facing a 10% US tariff? Naturally, there are reports the EU and US are to start trade negotiations too, even if visiting EU officials now take burner phones for secrecy. Here, Europe again thinks just buying more US LNG will be a solution; but those China terms and conditions are not going to go away. That’s as Chinese social media is showing its consumers how luxury European brands are actually made in China, encouraging them to opt for local alternatives.

$28000 Birkins bag can be bought from China by the same factory at $1000 (sans logo)

Chinese suppliers have flooded American TikTok with cost breakdown of luxury products from Gucci, LV, Hermes & the 3000-5000% markups of brands pic.twitter.com/f8gIPEjeJQ

— Ayoosh (@ayooshveda) April 14, 2025

In the UK, ‘Senior Labour figures call for review of Chinese investment in UK infrastructure’, and the “Government’s rapprochement with Beijing may risk national security in wake of British Steel crisis, party members say”. Also, household and business refuse may start piling up in the streets outside just Birmingham as unions reject a pay deal ahead of May 1 local elections. So, lots of things that came in nice boxes last week now risk being publicly dumped.  

Former Treasury Secretary Yellen says the Trump admin is undermining the status of the US dollar: the same former Fed Chair who borrowed vast sums at the short end of the yield curve and didn’t refinance US debt cheaply at the long end when she had the chance. Yellen also says onshoring manufacturing jobs is “a pipe dream” and not desirable after presiding over tariffs on China and the CHIPS Act and IRA subsidies aimed at bringing industry and jobs back to the US.

speaking of self-inflicted wounds, US debt increase while Janet Yellen was in charge of Fed or US Treasury : $15 trillion https://t.co/2j3kHOdwIB pic.twitter.com/Uf1SA9RCRU

— zerohedge (@zerohedge) April 14, 2025

A Financial Times editorial argues Trump has no cards and will lose the trade war, because the pro-globalisation Peterson Institute for International Economics (PIIE) says so. For them, despite being wrong for years, this is still an auto-(pharma & chips)-da-fe, an act of faith requiring public penance and the burning of heretics by the Inquisition. This religious view on trade is the latest in a series of with-us-or-against-us bifurcations – and it’s not helpful to those trying to look at the matrix of potential outcomes and the risks involved either way. After all, what ‘cards’ are the PIIE looking at? Yes, China makes stuff and the US doesn’t. But a larger trading bloc without China can, after a period of adjustment, leave China with vast excess production to absorb.

Likewise, Bloomberg commentary says the US dollar will soften as its reserve currency appeal fades; then provides zero commentary on what the follow-on consequences of not having a global reserve currency are for everyone who still has dollar debt to repay:

The total collapse of the dollar? The total collapse of the dollar-based financial system as everyone defaults on trillions in debts they can’t get the bucks to service through trade? The inflationary debasement of said debts? Global bifurcation into different currency (or commodity), trade, clearing, energy, and defense blocs – within which the dollar may remain primus inter pares at gunpoint despite a narrower trade deficit?

After all, the US can use its legacy financialized weakness as a strength if it opts to. Bessent just stated the White House is thinking about who replaces Powell at the Fed next year – and in an age of economic statecraft it’ll surely be someone who understands the power of dollar swap lines (see “The “Nuclear” Button For The Dollar: The Fed’s Swap Lines“.)

That’s as the Japanese 30-year yield is just shy of its highest level since early 2004 and not far from its highest ever going back to 2000. How will deeply indebted Japan do: more rate hikes? Equally, how will the Eurozone cope with the flip side of EUR being the new ‘global reserve shmurrency’: trade deficits, deindustrialisation, and polarisation, not unity and remilitarisation? So much is unclear on so many fronts: market volatility reflects this rather than masking it.

The RBNZ just attacked the mainstream media for its op-eds on how it operates(!), while separately announcing a new set of coincident forecasting inputs similar to the Atlanta Fed’s GDPNow, neither of which have any idea about what is going to happen next as tariffs hit.  

In the hit-hard power sphere, Trump refused a Ukrainian offer to buy $50bn of US arms, saying of President Zelenskyy: “He’s always looking to purchase missiles. Listen, when you start a war, you gotta know you can win a war. You don’t start a war against somebody that’s 20 times your size and then hope that people give you some missiles.” Clearly, hopes for a ‘peace’ deal and an inverse Nixon —Noxin— linger there.

US nuclear talks with Iran are also set to continue in Oman, not Rome, with threats of attack if no deal is struck; as a parallel US nuclear fuel processing agreement with the Saudis looms – “They are allowed to process uranium just like you. So, you both better behave!” That’s a very high risk, high reward statecraft gamble. Moreover, Arab press reports have it that, with Saudi help, 80,000 troops are massing in Yemen in preparation for a move on Houthi-held territory. As noted, this can all be taken as a sign that the Saudis and the UAE are in the US camp having seen neither China nor Russia can project serious power into the region.

Meanwhile, Australia’s federal election shows how little some Western democracies grasp about our shifting tectonic plates. Aussie media says both major parties’ policies will push up house prices by another 15%: clearly, making something more affordable can never mean its price going down, and Aussie GDP is ‘for’ even higher asset prices. Which is what the PIIE would be happy with the US going back to.

But it won’t. The US is now into an auto-da-fe of another kind and globalisation is on the pyre, and perhaps Wall Street with it until it reflects what’s happening on Main Street.

So, volatility now: but there is another world to come. Are your deeds preparing you for it?

Authored by Jonathan Turley,

The intense struggle between the Trump Administration and federal judges continued this week with another court ordering a halt to a nationwide program. In Massachusetts, District Judge Indira Talwani is preventing President Donald Trump from canceling a Biden program granting parole and the right to work to immigrants from Cuba, Haiti, Nicaragua, and Venezuela (CHNV). Judge Talwani’s order would require individual hearings for the half of a million individuals allowed into the country under this program by President Joe Biden.

Under the announcement published in the Federal Register, the Department of Homeland Security officially moved to terminate the CHNV Program.

The announcement followed an Executive Order, signed on Trump’s first day in office, entitled “Securing Our Borders,” directing the DHS to end the CHNV program.

Under the notice, DHS said that the parole status would expire in 30 days “unless the Secretary makes an individual determination to the contrary.” It further mandated that parolees who had not obtained a legal basis to be in the United States, such as a green card or other visa, must depart the United States before their parole expires.

In the prior hearing, Judge Talwani indicated that she would not allow that to happen, stating that the Administration’s interpretation of the law was “incorrect” and that “[t]he nub of the problem here is that [Homeland Security Secretary Krisit Noem], in cutting short the parole period afforded to these individuals, has to have a reasoned decision.”

In her opinion, Judge Talwani wrote:

“If their parole status is allowed to lapse, plaintiffs will be faced with two unfavorable options: continue following the law and leave the country on their own, or await removal proceedings. If plaintiffs leave the country on their own, they will face dangers in their native countries, as set forth in their affidavits.”

The court also noted that leaving would cause family separation and jeopardize their ability to seek a remedy based on the Administrative Procedure Act.

The Administration argued that it did have a “reasoned decision” to end the CHNV program and weighed the cost to the parolees. It noted that the parolees were always going to face family separation and costs since this was just a temporary, two-year program. It asserted that it did weigh alternative periods for winding down the program. While the court may disagree with its conclusions, it asserts that it has the same discretion used by President Biden in creating the program.

There was another pressing reason for the change. If the parolees were allowed to run the course of the full period, those who did not obtain legal status could force formal removal proceedings rather than the expedited removal under the program.

The Justice Department maintained:

“DHS’s decision to terminate the CHNV program and existing grants of parole under that program is within this statutory authority and comports with the notice requirements of the statute and regulations,” they wrote. “Additionally, given the temporary nature of CHNV parole and CHNV parolees’ pre-existing inability to seek re-parole under the program, their harms are outweighed by the harms to the public if the Secretary is not permitted to discontinue a program she has determined does not serve the public interest.”

All of this presents another novel legal question. Parole is not a legal status under immigration laws. It is a status created by executive action and is now being curtailed under that same authority. However, these individuals came to the country under the promise of a two-year period. The question is whether a temporary program created by executive fiat can be treated as creating a type of vested right.

If Judge Talwani prevails, individual determinations of half a million cases would be an overwhelming burden on the Administration and easily run out the time granted under the program for these individuals. 

Indeed, for many of the individuals, the appellate process could exceed that period.

The court is not weighing the harshness of the decision but the president’s discretion in making such a decision. 

Judge Talwani suggests that, once created by President Biden, the program cannot be curtailed or shortened by President Trump.

That question could very well find itself on the Supreme Court’s ever-lengthening docket.

The (establishment) world and his pet rabbit has been screaming at you for weeks that the American consumer is about to suffer the worst hyperinflationary hell ever (according to UMich survey respondents) as President Trump attempts to even up the score among its ‘allies’ over trade policies.

The last 24 hours have thrown a couple of curve balls at the established view – supporting the Trump administration’s presumption that ultimately other countries will eat the tariffs… and that companies selling into the US will not want to piss off their biggest customer with demand-sucking price-hikes.

First we saw Sony decide NOT To hike prices on US consumers (while piling price hikes on select markets in Europe, Middle East and Africa (EMEA), Australia and New Zealand). 

A “tough decision” apparently for management but its the first anecdotal evidence that Trump’s view may be right – firms wont scupper their market share or biggest customer demand unless they really have to (forcing margins lower or offsetting US price stability for non-US customer pain).

Second, and more systemic, we saw US import prices DROP 0.1% MoM in March – the first decline in import prices since September 2024…

This decline comes a month after US imposed 10% tariffs on China (at the start of February)

Goldman summarizes the details:

Import prices declined 0.1% in March, against consensus expectations for a flat reading. 

Import prices ex-petroleum were flat, also below expectations.

Prices declined for industrial supplies (-0.6%), consumer goods ex autos (-0.2%), and autos (-0.1%), and rose for food and beverages (+0.1%) and capital goods (+0.3%). 

The airfares component, which serves as source data for core PCE, edged down 0.2% (SA by GS).

That’s not supposed to happen – prices are supposed to soar for American consumers, right?

Based on the details in the import prices report, Goldman estimates that the core PCE price index rose just 0.08% in March (vs. our expectation of 0.08% prior to today’s import prices report), corresponding to a year-over-year rate of +2.67%. 

Additionally, they expect that the headline PCE price index were unchanged in March, or increased 2.32% from a year earlier. We estimate that market-based core PCE rose 0.02% in March.

Ultimately this supports (for now) what Trump has been saying:

Yes, tariffs will raise actual input purchase prices BUT to avoid losing market share, the underlying prices – which are captured by import prices – will have to drop to offset the surcharge.

So you have two dynamics: import price (pre-tariff) dropping as tariffs are layered on top of that ‘lower’ price.

In Trump’s ideal world, its a wash with US pocketing the upside and Chinese exporters getting hit on margins.

Finally, as we explained previously, a 50% tariff doesn’t mean a 50% rise in prices for American consumers. 

Will Sony’s decision be copied by Nike, others? Who knows. But for now China (and/or its companies) is eating the initial tariff charge by Trump… not the American consumer.

Via American Greatness,

The Federal Election Commission (FEC) has opened an investigation into Rep. Jasmine Crockett (D-TX) over donations made to her 2024 campaign by the Democratic fundraising organization Act Blue.

The FEC began its probe after receiving a complaint from the conservative Coolidge-Reagan Foundation in late March.

The complaint alleges that Crockett received 53 separate donations of $595 from a 73 year old supporter named Randy Best through the Act Blue portal.

However, when one of Crockett’s opponents for 2026 spoke to Best’s wife, she denied that the couple knew anything about donations, raising concerns that the Act Blue donations may have been made by others with donations being given under false names.

Crockett’s campaign received more than $870,000 in donations through Act Blue.

The FEC Complaints states:

Rep. Crockett, through her principal campaign committee Respondent Jasmine for US, has received thousands of other donations through ActBlue totaling over $870,000.

It is unclear how many of these are similarly fraudulent transactions, made in the name of unsuspecting innocent people who did not actually provide the funds.

Act Blue has previously faced questions over its fundraising from Republican members of Congress and GOP state attorneys general after other elderly Democrats said that donations made in their names were not genuine.

As the 2024 election cycle drew to close, a U.S. House panel called upon the FBI, the Treasury Department and the Director of National Intelligence to provide classified briefings on whether foreign actors from China, Iran, Russia and Venezuela were using Act Blue to launder illicit funds into U.S. political campaigns.

Act Blue maintains that it is following the law and dismisses the allegations as partisan attacks.

As the respondent, Crockett will have 15 days to respond to the allegations, although the FEC may choose to grant an additional extension of 30 to 60 days for a response.

* * *

We’ve sold a TON of these lighter / flashlight combos…

Satisfaction guaranteed or your money back

The standoff between woke elites at Harvard University and the Trump administration is growing more tense by the day. 

On Tuesday morning, President Trump wrote on Truth Social:

Perhaps Harvard should lose its Tax Exempt Status and be Taxed as a Political Entity if it keeps pushing political, ideological, and terrorist inspired/supporting “Sickness?”

Remember, Tax Exempt Status is totally contingent on acting in the PUBLIC INTEREST!

Trump’s comments come a day after the U.S. General Services Administration and Department of Education froze $2.2 billion in grants to the woke Ivy League school, hours after it rejected the administration’s demands to eliminate toxic DEI programs and screen international students for ideological concerns. 

Latest reporting:

• “Will Not Surrender” – Harvard Snubs Trump Admin’s Demands Tied To $9 Billion funding

• Harvard To Borrow $750 Million Amid Federal Funding Uncertainty

Harvard President Alan Garber responded to the administration with a letter explaining why the university wouldn’t comply with the demands: 

“No government — regardless of which party is in power — should dictate what private universities can teach, whom they can admit and hire, and which areas of study and inquiry they can pursue.” 

What about the ones that receive billions of dollars of taxpayer funds per year??

Meanwhile, Harvard elites have a $53 billion endowment, which is tens of billions of dollars higher than Yale University’s endowment ($10 billion). 

Universities like Harvard shouldn’t be allowed to hide behind a tax-exempt status while promoting toxic wokeism.

Maybe it’s time to reconsider taxpayer funding for the nation’s oldest and wealthiest college… 

… which some continue to produce graduates indoctrinated with the woke mind virus.

*  *  *

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President Trump’s ‘America First’ agenda—specifically, the revival of domestic critical supply chains to reinforce hemispheric defense—scored yet another win this week.

Reuters reported that Advanced Micro Devices‘ most advanced processor chips would soon enter series production at Taiwan Semiconductor Manufacturing Company’s (TSMC) factory in Arizona. 

“Our new fifth-generation EPYC is doing very well, so we’re ready to start production,” AMD Chief Executive Lisa Su told reporters in Taipei earlier, referring to the company’s server-grade processor line, designed for data centers, cloud computing, high-performance computing, and enterprise workloads. 

Shifting AMD’s server-grade processor line to TSMC’s Arizona facility marks the first time the U.S. company will produce these chips domestically, eliminating the supply chain risks associated with manufacturing at TSMC’s Taiwan-based fabs. 

“We want to have a very resilient supply chain, so Taiwan continues to be a very important part of that supply chain, but the United States is also going to be important and we’re expanding our work there, including our work with TSMC and other key supply chain partners,” Su said. 

News that AMD’s fifth-generation EPYC will be produced in America comes one day after Nvidia unveiled new initiatives aimed at strengthening America’s chip manufacturing sector:

• Nvidia is localizing AI chip and supercomputer manufacturing in the U.S. for the first time, partnering with TSMC, Foxconn, Wistron, Amkor, and SPIL.

• Over 1 million square feet of manufacturing space has been commissioned for Blackwell chips and AI supercomputers in Arizona and Texas.

• Mass production of these chips is expected within 12–15 months.

• Total AI infrastructure by Nvidia could total $500 billion over the next four years.

Restoring U.S. chipmaking capacity is critical for several reasons, but national security stands above all. China can easily disrupt chip supply chains in Taiwan—something that could send shockwaves around the world, impacting U.S. defense production of missiles, tanks, and other critical systems, many of which rely on chips fabricated overseas. 

If the U.S. intends to compete—and win—in the 2030s, the ongoing expansion of domestic chip manufacturing is not just welcome news; it’s essential for survival.

Tariff headline roulette is back…

Just when you thought it was ok to BTFD, Bloomberg reports that things are not proceeding gleefully in EU-US trade talks.

The European Union and US made scant progress bridging trade differences this week as officials from President Donald Trump’s administration indicated that the bulk of the US tariffs imposed on the bloc will not be removed.

The EU’s trade chief, Maros Sefcovic, left the meeting with little clarity on the US stance, struggling to determine the American side’s aims, according to people familiar with the discussions. He met for about two hours with US Commerce Secretary Howard Lutnick and Trade Representative Jamieson Greer in Washington Monday.

The US officials indicated that the 20% “reciprocal” tariffs — which have been reduced to 10% for 90 days — as well as other tariffs targeting sectors including cars and metals would not be removed outright, said the people, who spoke on the condition of anonymity.

And it is that last bit that upset markets, sending stocks back into the red after a solid short squeeze at the open…

The EU has offered that both sides remove all tariffs on industrial goods, including cars. The US has so far rejected that proposal.

Finally, we have to say that this note from BBG is barely even news…

For those who actually read the article and not just the flashing red headline which oddly enough came at the peak of this morning’s rally, this is all it said
“The European Union and US made scant progress bridging trade differences this week” https://t.co/V7fmP8DKnI

— zerohedge (@zerohedge) April 15, 2025

It’s almost as if someone wants to keep equity vol high and equity prices down?