President Trump’s new tariffs on China have thrown a wrench in efforts to negotiate a deal over TikTok’s divestment from its parent company ByteDance, as Washington and Beijing sink deeper into a trade war.
How policy will be impacting the tech sector now and in the future:
Microsoft said on Wednesday it is “slowing or pausing” some of its data center projects, describing the move as a show of flexibility as the artificial intelligence (AI) industry evolves. “In recent years, demand for our cloud and AI services grew more than we could have ever anticipated and to meet this opportunity, we began executing the largest and most ambitious infrastructure scaling project in our history,” …
Hawley calls on Zuckerberg to appear before Congress following whistleblower testimony
Full StoryAmazon CEO Andy Jassy predicted that the retailer’s web of third-party sellers will try to pass the extra costs incurred by the Trump administration’s wide-ranging tariffs on to buyers. “I understand why, I mean, depending on which country you’re in, you don’t have 50 percent extra margin that you can play with,” Jassy said during a Thursday interview with CNBC. “I think they’ll try and pass the cost on.” Jassy noted …
The Refresh
Crypto Corner
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While the cryptocurrency industry has pushed to move past scandals and be seen as a legitimate financial path, some Democrats remain cautious over what a scaling back of enforcement could bring.
Earlier this week, the Justice Department disbanded its crypto enforcement unit, stoking alarm among some political leaders.
The Trump administration dismantled the National Crypto Enforcement Team (NCET), with Deputy Attorney General Todd Blanche instructing prosecutors to instead focus on immigration and procurement fraud.
Days later, New York Attorney General Letitia James (D) sent a letter to congressional leaders calling for federal legislation to “strengthen regulations” on cryptocurrencies and digital assets.
“Countless New Yorkers invest in cryptocurrency and digital assets, and more must be done to protect them and their money,” James wrote in the letter. “Thousands of investors in New York and across the country have lost millions of dollars to cryptocurrency scams and fraud that could be prevented with stronger federal regulations.”
And during a hearing with the Senate Armed Services Committee on Thursday, Sen. Mazie Hirono (D-Hawaii) expressed concerns in the wake of the $1.5 billion hack of crypto funds, allegedly conducted by North Korean-linked actors last year.
“With all the crimes that are going on in the crypto space, I think that we should not be disbanding any efforts that we have in that space,” she said.
While the Trump administration has welcomed the industry, the lingering criticism and skepticism from some Democrats show the complexities that come with enforcement or regulatory changes.
Branch out with other reads on The Hill:
Dozens of House Democrats are demanding President Trump confirm that Elon Musk will leave his role in the administration by May 30. A group of 77 lawmakers, led by Rep. Greg Casar (D-Texas), sent a letter to Trump on Wednesday, emphasizing the tech billionaire can only serve in his role as a special government employee for 130 days. “Considering the repeated violations of the law by Musk and your administration, …
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