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Amazon has introduced Alexa+, an advanced version of its Alexa voice assistant, aiming to revitalize its smart home ecosystem with generative AI capabilities. Unveiled at an event in New York City, Alexa+ leverages Amazon's own large language models alongside those from Anthropic, in which Amazon has invested significantly. Priced at $19 per month or free for Prime members, Alexa+ promises to perform complex tasks across multiple applications, from ordering food tailored to personal tastes to managing smart home devices with natural voice commands. Demonstrations included scenarios like retrieving video footage from a Ring camera or booking an Uber for a friend. Despite past challenges in revolutionizing smart homes, Amazon's CEO Andy Jassy highlighted the company's substantial investment in AI, aiming to lead in generative AI technology. The success of Alexa+ will hinge on its real-world performance and customer adoption, with a US launch planned in the coming weeks.
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U.S. Trade Representative Jamieson Greer informed the Senate Finance Committee that President Trump's aggressive tariff strategy has led to negotiations with approximately 50 countries aiming to lower their trade barriers. This comes amidst market fluctuations and criticism from business leaders following Trump's announcement of widespread tariffs. Despite some market recovery on hopes of tariff adjustments, there's considerable unease among lawmakers about the lack of a coherent plan behind these tariffs. Senators from both parties have voiced concerns, with some like Sen. Thom Tillis questioning the administration's strategy and others like Sen. Ron Wyden criticizing the chaotic approach to trade policy. There's a pushback against the executive's broad use of tariff powers, with legislation proposed to require Congressional approval for new tariffs, highlighting a tension between the branches of government over trade authority. However, Senate Majority Leader John Thune indicated reluctance to bring such legislation to a vote, suggesting continued executive dominance in trade policy.
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The recent market turmoil in the US has been triggered by President Trump's announcement of imposing high tariffs on numerous countries, leading to a sharp decline in the S&P 500 and affecting global markets. The S&P 500 saw a dramatic fall of over 10% in just three days, one of the most severe drops since World War II. This was followed by a brief rebound on hopes of tariff negotiations. The tariff plan includes a 10% baseline tariff with additional duties on countries deemed as "worst offenders," impacting 185 countries including major trading partners like China and the EU. The market's leading stocks, known as the "Magnificent Seven," experienced significant losses, with their collective market cap dropping over $1 trillion. Additionally, oil prices have hit a near four-year low, and global markets like Japan's Nikkei have seen substantial declines, reflecting the widespread economic uncertainty and fear of a looming recession.
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The article discusses the ongoing confusion and uncertainty in financial markets due to President Trump's trade negotiations. Trump has been clear about rejecting simple tariff reductions but has provided shifting goals for what he wants in trade deals with countries like Japan and South Korea. This inconsistency, coupled with conflicting messages from his administration, has left markets jittery, especially with looming tariff deadlines. For instance, Trump has threatened additional 50% duties on Chinese goods, set to be announced soon, alongside a full reciprocal tariffs plan. Efforts by Treasury Secretary Scott Bessent to streamline Trump's negotiation strategy have met with partial success, as evidenced by a brief market surge following Bessent's comments on potential good deals if countries come forward with solid proposals. However, Trump's own statements oscillate between focusing on trade deficits and broader issues like agriculture and automobiles, further muddying the waters. This dynamic is mirrored within his team, with aides like Peter Navarro and Stephen Miran offering starkly different views on the trade situation, contributing to market volatility as traders react to every twist in the negotiation saga.
