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Financial Times

Financial Times

Newspaper | United Kingdom | Centre

International daily newspaper with emphasis on business, economic and financial news and analysis.

Engagement Insights

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Discussions from Financial Times

Politics

How should leaders balance welcoming foreign leaders with the concerns of their own supporters?

Hours before President Xi Jinping’s aircraft lands at Joint Base Andrews, Washington is preparing for a scene that seemed unthinkable in recent years: his American counterpart waiting on the tarmac for the leader of a country that much of the US national security establishment regards as its foremost strategic adversary. While the Donald Trump administration is betting on warmth, deals and stability with Beijing, recent public surveys show that American anxiety over China has eased from its 2024

United States
Economy

What are the possible effects of a diesel export ban on the economy and the environment?

President Trump said during a Tuesday press interview alongside Ukrainian President Volodymyr Zelensky that he has also called for a ban on U.S. diesel exports, joining other conservative voices who back the policy. Why it matters: Trump's endorsement marks a shift for an administration that has resisted calls to restrict fuel exports, as record diesel prices squeeze farmers and truckers and fuel Republican concerns ahead of the midterms. Economists and energy analysts the move could lower diesel prices for Americans in the short term but would likely raise prices globally including eventually in the U.S. Thought bubble, via Axios' Ben Geman: The politics of $6.50 diesel are quickly overwhelming a broad consensus among oil market analysts that an export ban could ultimately backfire. Zoom in: When asked if he supported a diesel ban endorsed by other Republicans, Trump said that he had called for that too. "I've said let's not send out the diesel. We make a lot of diesel, and it could have a little bit of an effect on regular automobile gasoline because when you do that, you know it's a sort of a flow, it's a balance. But no, I've called for it. I've called for it within my people."Representatives for the White House did not immediately respond to Axios' request for comment on how the administration would implement such a ban. Catch up quick: Sen. Chuck Grassley (R-Iowa) recently proposed blocking diesel exports, hoping to lower prices domestically, and other farm-state Republicans quickly signed on too. Rep. Ashley Hinson (R-Iowa), who faces a competitive re-election race, called for a diesel ban Monday while slamming the war in Iran.Senate Majority Leader John Thune (R-S.D.) said last week that he was "open" to an export ban. Zoom in: A ban would keep diesel that otherwise would be exported in the U.S., potentially increasing domestic supplies and lowering prices in the short term. But analysts warn it could drive up global diesel prices and eventually feed higher

United States
Technology

How should countries work together to manage the risks of AI and ensure it benefits everyone?

OpenAI on Monday released international AI safety standards as world leaders, namely the U.S. and China, weigh how to mitigate risk. Why it matters: The U.S. approach to coordinating on AI risk with China will be heavily informed by industry recommendations. Driving the news: U.S. Treasury Secretary Scott Bessent and Chinese Vice Premier He Lifeng over the weekend discussed a U.S.-China AI dialogue to notify the other country when AI incidents reached national security risk levels. The devil is in the details and OpenAI is proposing solutions that CEO Sam Altman will cover in his address at the United Nations Security Council in New York on Wednesday. What they're saying: OpenAI recommends leveraging AI safety institutes around the world to facilitate standard-setting through the U.S. Center for AI Security and Innovation, which is part of the Commerce Department. The company also recommends shared global measurements for classifying incidents and how to track, report and respond to alignment issues.The goal is to have international standards for incidents that happen before deployment in test settings and those that occur in the real world, an OpenAI official told Axios. What we're watching: Expect AI labs to continue chiming in as all eyes are on President Trump and Chinese President Xi Jinping's meetings and a state dinner featuring industry heavy hitters later this week

Global