Donald Trump, on his first day back in office, repealed several Biden-era executive orders, including a 2023 framework aimed at regulating artificial intelligence (AI).
Biden’s order had established safety standards for AI developers, requiring transparency in safety testing, protecting privacy, and addressing potential biases in AI systems. Trump criticized the framework as overly restrictive, arguing that it hindered technological progress and economic growth. Instead, his administration is embracing a free-market approach, prioritizing innovation over regulation.
Tech leaders such as Mark Zuckerberg, Jeff Bezos, and Sundar Pichai, who were present at Trump’s inauguration, have shown support for the shift, reflecting the tech industry’s interest in fewer regulatory constraints.
Companies like Microsoft have already been expanding globally, with significant investments such as new AI hubs in Abu Dhabi. This alignment suggests a broader push to position the U.S. as a leader in AI innovation by reducing barriers for developers.
However, the repeal has drawn criticism from advocates who warn that removing safeguards could expose the public to risks associated with unregulated AI. Alondra Nelson from the Center for American Progress argued that the lack of accountability could stifle trust and limit the potential benefits of AI. Additionally, the removal of provisions supporting skilled AI worker immigration has raised concerns about America’s ability to attract and retain top talent in the field.
The Bank of Japan (BOJ)’s upcoming monetary policy meeting, set for June 16–17, could be the next major catalyst for global risk assets, including stocks and cryptocurrencies like Bitcoin.
Mark Skousen, the economist who foresaw the 1987 market collapse, believes the current financial environment is entering a precarious phase.
Across Asia, the U.S. dollar is rapidly losing ground as countries intensify efforts to reduce reliance on the greenback.
Despite encouraging job numbers on the surface, JPMorgan Chase’s chief global strategist David Kelly says the U.S. economy is quietly losing momentum.