Export Rule

Prime minister says the middle of a global fuel crisis is ‘the worst possible time to jeopardise’ Australia’s partnerships with Asian trading partnersThe prime minister, Anthony Albanese, has confirmed next month’s federal budget will not include a new tax on existing gas export contracts as he criticised the “populist” campaign calling for a levy on producers.As reported last week, Albanese was poised to reject pressure to introduce a 25% tax on gas exports amid concerns the intervention could alienate the same Asian trading partners Australia is relying on for supplies of diesel and petrol. Continue reading...

The US Commerce Department withdrew a planned rule on artificial-intelligence chip exports on Friday, marking the latest policy reversal by the Trump administration regarding technology trade controls. The withdrawal represents a significant shift in the administration's approach to regulating AI semiconductor exports, which had been a contentious issue affecting companies like Nvidia and other chipmakers. This decision follows earlier statements from administration officials indicating a more flexible stance on AI chip distribution policies compared to previous regulatory frameworks. The reversal signals potential changes in how the US will manage competition with foreign nations in advanced semiconductor and AI technology sectors.

The US Commerce Department withdrew a planned rule on Friday that would have required permits for exports of advanced AI chips from companies like Nvidia and AMD to global customers. The abandoned Trump administration proposal aimed to involve case-by-case reviews by the Commerce Department's licensing office, contingent on factors such as government agreements and end-user computing power needs. Commerce officials rejected returning to the prior administration's 'burdensome, overreaching and disastrous' AI diffusion framework. This decision eases restrictions on the semiconductor industry amid ongoing trade tensions.