China’s Auto Takeover: BYD Vs. Tesla And The Battle For EV Supremacy | CNBC Marathon

Drone pilots are in high demand — but what is the job really like?

Amazon is using generative AI to drive more same-day shipping using smarter robots and better routes

Could AI produce the next hit film or song?

Amazon’s cashierless tech to get rid of checkout lines at stores

AI engineers are in high demand – but what is the job really like?

Why It’s So Hard To Be A Worker Right Now | CNBC Marathon

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="410" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/11/106677114-15983545702020-08-25t100023z_1719720997_rc2yki97n9wc_rtrmadp_0_usa-china-tech-1-820x410.jpeg" alt="" class="wp-image-558826" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/11/106677114-15983545702020-08-25t100023z_1719720997_rc2yki97n9wc_rtrmadp_0_usa-china-tech-1-820x410.jpeg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/11/106677114-15983545702020-08-25t100023z_1719720997_rc2yki97n9wc_rtrmadp_0_usa-china-tech-1-300x150.jpeg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/11/106677114-15983545702020-08-25t100023z_1719720997_rc2yki97n9wc_rtrmadp_0_usa-china-tech-1-160x80.jpeg 160w, https://cms.cnbcafrica.com/wp-content/uploads/2024/11/106677114-15983545702020-08-25t100023z_1719720997_rc2yki97n9wc_rtrmadp_0_usa-china-tech-1-768x384.jpeg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/11/106677114-15983545702020-08-25t100023z_1719720997_rc2yki97n9wc_rtrmadp_0_usa-china-tech-1.jpeg 884w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">Chinese and U.S. flags flutter near The Bund, before U.S. trade delegation meet their Chinese counterparts for talks in Shanghai, China July 30, 2019. Aly Song | Reuters</figcaption></figure>



BEIJING — President-elect Donald Trump plans to raise tariffs by an additional 10% on all Chinese goods coming into the U.S., according to a post on his social media platform Truth Social.



The post immediately followed one in which Trump said his first of “many” executive orders on Jan. 20 would impose tariffs of 25% on all products from Mexico and Canada. Such a move would end a regional free trade agreement.



Trump is set to be inaugurated as the next U.S. president on Jan. 20. He cited illegal immigration and illicit drug trade as reasons for the tariffs.



“I have had many talks with China about the massive amounts of drugs, in particular Fentanyl, being sent into the United States – But to no avail,” Trump said.&nbsp;He claimed that contrary to promises, Beijing did not impose the death penalty on such drug dealers.



Fentanyl, a synthetic opioid, is an addictive drug that’s led to tens of thousands of overdose deaths each year in the U.S.



Reducing illicit supplies of the drug, precursors of which are mostly produced in China and Mexico, has been an area in which Washington and Beijing have agreed to cooperate.



“No one will win a trade war or a tariff war,” Liu Pengyu, a spokesperson for China’s embassy in the U.S., said on X. He described bilateral economic and trade cooperation as “mutually beneficial in nature.”



Liu pushed back on Trump’s claim that China has done little to stem the flow of fentanyl to the U.S. He said that both countries’ counternarcotics teams have regularly communicated since Chinese President Xi Jinping met with U.S. President Joe Biden in November 2023.



“Drugs are pouring into our Country, mostly through Mexico, at levels never seen before,” Trump said. “Until such time as they stop, we will be charging China an additional 10% Tariff, above any additional Tariffs, on all of their many products coming into the United States of America.”



Trump had threatened tariffs of 60% on Chinese goods while campaigning for president.



A 10% tariff on China is lower than the 20% to 30% that markets expected, Kinger Lau, chief China equity strategist at Goldman Sachs, said Tuesday on CNBC’s “Squawk Box Asia.” He expects China will cut rates, increase fiscal stimulus and moderately depreciate its currency in order to counter the economic impact of increased duties.



Mexico is the largest trading partner of the U.S., followed by Canada and China, according to U.S. data as of September.



The U.S. is China’s largest trading partner on a single country basis, according to China customs data. The Asian country’s largest regional trading partners are the Association of Southeast Asian Nations and the European Union.



China and the U.S. still have a “really important commercial and economic relationship,” Andy Rothman, investment strategist at Matthews Asia, told CNBC’s “Street Signs Asia” on Tuesday. He said that China is unlikely to take reciprocal action for now, and noted that Beijing has not typically responded aggressively.



The U.S. dollar traded about 1% stronger versus the Mexican peso, and 1.4% higher against the Canadian dollar as of Tuesday morning. The greenback climbed around 0.2% against the Hong Kong-traded Chinese yuan.



— CNBC’s Hui Jie Lim and Anniek Bao contributed to this report.

106677114-15983545702020-08-25t100023z_1719720997_rc2yki97n9wc_rtrmadp_0_usa-china-tech (1)

Trump vows an additional 10% tariff on China, 25% tariffs on Canada and Mexico

Robotics engineers are in high demand — so what is the job like?

South Fork Wind offers a glimpse at what’s possible for offshore wind power projects

Tradition meets tech: Inside London’s evolving art scene

How Elon Musk’s Plan To Slash Government Agencies And Regulation May Benefit His Empire

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="625" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/11/108066045-1732144350860-Bluesky_CEO_Jay_Graber_2-820x625.jpg" alt="" class="wp-image-557334" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/11/108066045-1732144350860-Bluesky_CEO_Jay_Graber_2-820x625.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/11/108066045-1732144350860-Bluesky_CEO_Jay_Graber_2-300x229.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/11/108066045-1732144350860-Bluesky_CEO_Jay_Graber_2-118x90.jpg 118w, https://cms.cnbcafrica.com/wp-content/uploads/2024/11/108066045-1732144350860-Bluesky_CEO_Jay_Graber_2-768x585.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/11/108066045-1732144350860-Bluesky_CEO_Jay_Graber_2-1536x1170.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2024/11/108066045-1732144350860-Bluesky_CEO_Jay_Graber_2-scaled.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">Photo: via CNBC</figcaption></figure>



Bluesky has surged in popularity since the presidential election earlier this month, suddenly becoming a competitor to Elon Musk’s X and Meta’s Threads. But CEO Jay Graber has some cautionary words for potential acquirers: Bluesky is “billionaire proof.”



In an interview on Thursday with CNBC’s “Money Movers,” Graber said Bluesky’s open design is intended to give users the option of leaving the service with all of their followers, which could thwart potential acquisition efforts.



“The billionaire proof is in the way everything is designed, and so if someone bought or if the Bluesky company went down, everything is open source,” Graber said. “What happened to Twitter couldn’t happen to us in the same ways, because you would always have the option to immediately move without having to start over.”



Graber was referring to the way millions of users left Twitter, now X, after Musk purchased the company in 2022. Bluesky now has over 21 million users, still dwarfed by X and Threads, which Facebook’s parent debuted in July 2023.



X and Meta didn’t immediately respond to requests for comment.



Threads has roughly 275 million monthly users, Meta CEO Mark Zuckerberg said in October. Although Musk said in May that X has 600 million monthly users, market intelligence firm Sensor Tower estimates 318 million monthly users as of October.



Bluesky was created in 2019 as an internal Twitter project during Jack Dorsey’s second stint as CEO, and became an independent public benefit corporation in 2022. In May of this year, Dorsey said he is no longer a member of Bluesky’s board.



“In 2019, Jack had a vision for something better for social media, and so that’s why he chose me to build this, and we’re really thankful for him for setting this up, and we’ve continued to carry this out,” said Graber, who previously founded Happening, a social network focused on events. “We’re building an open-source social network that anyone can take into their own hands and build on, and it’s something that is radically different from anything that’s been done in social media before. Nobody’s been this open, this transparent and put this much control in the users hands.”



Part of Bluesky’s business plan involves offering subscriptions that would let users access special features, Graber noted. She also said that Bluesky will add more services for third-party coders as part of the startup’s “developer ecosystem.”



Graber said Bluesky has ruled out the possibility of letting advertisers send algorithmically recommended ads to users.



“There’s a lot on the road map, and I’ll tell you what we’re not going to do for monetization,” Graber said. “We’re not going to build an algorithm that just shoves ads at you, locking users in. That’s not our model.” Bluesky has previously experienced major growth spurts. In September, it added 2 million users following X’s suspension in Brazil over content moderation policy violations in the country and related legal matters.



In October, Bluesky announced that it raised $15 million in a funding round led by Blockchain Capital. The company has raised a total of $36 million, according to Pitchbook.

108066045-1732144350860-Bluesky_CEO_Jay_Graber_2

Bluesky CEO Jay Graber says X rival is ‘billionaire proof’

Quantum computers pose great risks but their potential could change the world

How Honda Is Trying To Be Cool Again

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="461" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/11/107357418-1704989066827-gettyimages-1921756255-0g1a0325_zwlec8kb-820x461.jpeg" alt="" class="wp-image-556953" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/11/107357418-1704989066827-gettyimages-1921756255-0g1a0325_zwlec8kb-820x461.jpeg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/11/107357418-1704989066827-gettyimages-1921756255-0g1a0325_zwlec8kb-300x169.jpeg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/11/107357418-1704989066827-gettyimages-1921756255-0g1a0325_zwlec8kb-160x90.jpeg 160w, https://cms.cnbcafrica.com/wp-content/uploads/2024/11/107357418-1704989066827-gettyimages-1921756255-0g1a0325_zwlec8kb-768x432.jpeg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/11/107357418-1704989066827-gettyimages-1921756255-0g1a0325_zwlec8kb-1536x864.jpeg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2024/11/107357418-1704989066827-gettyimages-1921756255-0g1a0325_zwlec8kb.jpeg 1858w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">Getty Images</figcaption></figure>



Bitcoin breached the $95,000 level for the first time Wednesday evening as investors continued pricing in a second Donald Trump presidency.



The price of the flagship cryptocurrency was last higher by more than 3% at $97,646.68, according to Coin Metrics. Earlier, it rose as high as $97,788.00.



Shares of MicroStrategy, a bitcoin proxy, gained 3% in extended trading. Mining stocks rose as well, with Mara Holdings up 4%.



Bitcoin has been regularly hitting fresh records this month on hopes that Trump will usher in a golden age of crypto, which would include more supportive regulation for the industry and a potential national strategic bitcoin reserve or stockpile.



It is widely expected to reach $100,000 this year and double by the end of 2025.



“Bitcoin’s price continues to be driven by a number of factors including improved liquidity conditions, increased institutional adoption, and a regulatory environment that has flipped from a headwind to a tailwind,” said Sam Callahan, an analyst at Swan Bitcoin.



Another Trump term also implies larger budget deficits, potentially more inflation and changes to the international role of the dollar – all things that would have a positive impact on the&nbsp;price of bitcoin.



Bitcoin has gained more than 127% in 2024.

107357418-1704989066827-gettyimages-1921756255-0g1a0325_zwlec8kb

Bitcoin climbs, reaching a new all-time high above $97,000

CNBC

China’s Auto Takeover: BYD Vs. Tesla And The Battle For EV Supremacy | CNBC Marathon

Drone pilots are in high demand — but what is the job really like?

Amazon is using generative AI to drive more same-day shipping using smarter robots and better routes

Could AI produce the next hit film or song?

Amazon’s cashierless tech to get rid of checkout lines at stores

AI engineers are in high demand – but what is the job really like?

Why It’s So Hard To Be A Worker Right Now | CNBC Marathon

Trump vows an additional 10% tariff on China, 25% tariffs on Canada and Mexico

Robotics engineers are in high demand — so what is the job like?

South Fork Wind offers a glimpse at what’s possible for offshore wind power projects

Tradition meets tech: Inside London’s evolving art scene

How Elon Musk’s Plan To Slash Government Agencies And Regulation May Benefit His Empire

Bluesky CEO Jay Graber says X rival is ‘billionaire proof’

Quantum computers pose great risks but their potential could change the world

How Honda Is Trying To Be Cool Again

Bitcoin climbs, reaching a new all-time high above $97,000

The tech startup disrupting traditional pregnancy care

News Tips

Advertise With Us

CNBC

China’s Auto Takeover: BYD Vs. Tesla And The Battle For EV Supremacy | CNBC Marathon

Drone pilots are in high demand — but what is the job really like?

Amazon is using generative AI to drive more same-day shipping using smarter robots and better routes

Could AI produce the next hit film or song?

Amazon’s cashierless tech to get rid of checkout lines at stores

AI engineers are in high demand – but what is the job really like?

Why It’s So Hard To Be A Worker Right Now | CNBC Marathon

Trump vows an additional 10% tariff on China, 25% tariffs on Canada and Mexico

Robotics engineers are in high demand — so what is the job like?

South Fork Wind offers a glimpse at what’s possible for offshore wind power projects

Tradition meets tech: Inside London’s evolving art scene

How Elon Musk’s Plan To Slash Government Agencies And Regulation May Benefit His Empire

Bluesky CEO Jay Graber says X rival is ‘billionaire proof’

Quantum computers pose great risks but their potential could change the world

How Honda Is Trying To Be Cool Again

Bitcoin climbs, reaching a new all-time high above $97,000

The tech startup disrupting traditional pregnancy care

News Tips

Advertise With Us

Newsletters