Senators Say NVIDIA's China Expansion a Security Threat; Appeals Court Restores Trump’s Tariffs

Chip maker NVIDIA is under the microscope as it plans to open up shop in Shanghai, China. Two U.S. senators, one Republican and one Democrat, are questioning the company’s decision over the national security risks involved. They wrote to CEO Jensen Huang, citing the concerns they have over American firms helping China build cutting-edge semiconductor technology. The senators gave Huang until June 20th to respond to their concerns.

A federal appeals court paused a lower court ruling on Thursday evening, reinstating the Trump administration's tariff policies. White House press secretary Karoline Leavitt said the reason for the tariffs was to reset trade deficits and regrow U.S. supply chains while also cracking down on fentanyl. President Donald Trump will also be holding a rally at the U.S. Steel plant just outside of Pittsburgh on Friday evening, where he's expected to announce the partnership between Japan’s Nippon Steel and U.S. Steel.

Trump will appear with Elon Musk on Friday as Musk steps down from his government role. The White House says Musk’s cost-cutting mission will live on, even as Musk voices frustration over GOP spending. Vice President JD Vance says Musk's relationship with the administration is not ending and that his cost-cutting mission will continue. Meanwhile, trade talks are pressing forward despite legal fights over Trump's tariffs.