Diamonds are mined in various countries but are often cut and polished in India. President Trump used emergency powers to impose a 50 percent tariff on Indian exports in August.
The president’s trade truce with China has lowered U.S. tariffs to a level that could pause a longer-term effort to reduce America’s dependence on Beijing.
Some analysts say Beijing won a major victory in its trade talks: Getting the U.S. to withdraw a national security measure that previously was not under discussion.
The president signaled he would discuss the sale of Nvidia’s Blackwell chips in a summit on Thursday, a move U.S. officials warned would be a “massive” national security mistake.
The Trump administration is hailing a potential deal that may return the U.S.-China relationship to where it was before the president began a trade war against Beijing.
The president made the threat after Beijing imposed new global restrictions on the use of rare earth minerals, which are vital supplies for U.S. makers of chips and batteries.
An executive of a Singaporean firm called Megaspeed socialized with Nvidia’s Jensen Huang. Now the company is being scrutinized by U.S. officials for its ties to China.
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