The US Chamber of Commerce has urged the Trump administration to exempt small businesses from tariffs, CNBC reported.
According to the media, the Chamber of Commerce wants to eliminate import tariffs for small businesses, as well as for those goods "that cannot be made in the US". The chamber believes that even if the US manages to reach trade agreements with other countries within a few months, "small businesses will suffer irreparable damage" during this time.
The administration of US President Donald Trump is considering easing export restrictions on the supply of high-tech Nvidia chips to the United Arab Emirates, Bloomberg reported, citing its sources.
The initiative could be announced during Trump's upcoming visit to the UAE from May 13 to 16. The US president called the Emirates a “natural ally”, citing its plans to invest $1.4 trillion in American technology, including semiconductors and AI infrastructure.
According to the agency, the current restrictions imposed by the previous Joe Biden administration are preventing the UAE from implementing ambitious projects in the field of artificial intelligence. The sources noted that no final decision has yet been made, but talks at the White House and the Commerce Department have intensified since a visit by UAE National Security Advisor Sheikh Tahnoun bin Zayed Al Nahyan in March.