In response to US President Donald Trump’s decision to cancel the tariff exemption on low-cost shipments from China, an amendment has temporarily paused the measure to allow time for an efficient collection system to be established. The de minimis provision, which exempts shipments under $800 from tariffs, will remain in place until adequate systems are in place. This move has caused turmoil for exporters and freight carriers, as well as concerns about the impact on Chinese economic growth.
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Why AMD Stock Plummeted Today
Advanced Micro Devices (AMD -7.42%) experienced a significant stock price decline of 7.4% amid broader market downturns, hitting a low of 10.5% during the session. The drop was influenced by AMD's announcement of an effective ban on sales of its MI308X processor to China, leading to an anticipated $800 million write-down, alongside rising costs due to TSMC's planned 30% price increase on 4nm chips. Additionally, escalating U.S.-China trade tensions and cautious remarks from Federal Reserve...
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