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The rail-mounted crane transports goods at the cargo yard of the Qianwan United Container Terminal of Qingdao Port in Qingdao City, Shandong Province, China.Nurphoto | Getty ImagesBusinesses are finding a workaround to minimize the most significant hit from tariffs, using a decades-old piece of legislation known as the “first sale rule.”Within U.S. customs law, the first sale rule allows U.S. importers to use the price of the first sale in a number of transactions to calculate customs duties.For instance, a Chinese manufacturer sells a t-shirt to a Hong Kong vendor for $5. That Hong Kong vendor then sells the t-shirt…

Niphon | Istock | Getty ImagesTencent and Baidu, two of China’s largest technology companies, revealed how they’re keeping in the global artificial intelligence race even as the U.S. tightens some curbs on key semiconductors.The business’ methods include stockpiling chips, making AI models more efficient and even using homegrown semiconductors.While the administration of U.S. President Donald Trump scrapped one controversial Biden-era chip rule, it still tightened exports of some semiconductors from companies including Nvidia and AMD in April.Big names in the sector addressed the issue during their latest earnings conference calls.Martin Lau, president of Tencent — the operator of China’s biggest…

CNN  —  The theme of the Eastern Conference Finals so far has been comebacks and that continued on Sunday night in Indiana. After the Indiana Pacers’ miraculous Game 1 comeback, Game 3 of the best-of-seven series saw the New York Knicks produce their own dramatic ending on the road at a raucous Gainbridge Fieldhouse. The Knicks trailed by as many as 20 points during the second quarter but, largely thanks to an inspired fourth-quarter performance from Karl-Anthony Towns, New York was able to rally for a 106-100 victory and cut the series deficit to 2-1. “It’s a true test when…

The UK, Japan and Italy are turbocharging their sixth-generation Global Combat Air Program (GCAP) stealth fighter ambitions in a race to outpace China’s fast-rising and now battle-proven airpower.The South China Morning Post (SCMP) recently reported that GCAP’s acceleration reflects growing concern over China’s growing edge in military technology. That was on display in the recent India-Pakistan skirmishes, where Pakistan’s Chinese-made fighters reportedly downed at least one of India’s French-made Rafales. Brigadier General Edoardo de Santo of Italy’s Leonardo SpA, the lead Italian partner in the tri-national venture, defended the decade-long project at the Defence and Security Equipment International conference held…

Seoul, South Korea CNN  —  North Korea has arrested four people it claims bear responsibility for a launch accident last week that left leader Kim Jong Un’s newest warship lying on its side and partially submerged in a shipyard, state-run media has reported. The four people detained included Ri Hyong Son, vice department director of the Munitions Industry Department of the Party Central Committee, “who was greatly responsible for the occurrence of the serious accident,” a report from the Korean Central News Agency (KCNA) on Monday said. On Sunday, KCNA said three others had been detained: Kang Jong Chol, chief…

CNN  —  The head of a new aid distribution program for Gaza, backed by the US and Israel, has resigned after weeks of controversy, citing concerns over impartiality and urging Israel to allow more aid into the blockaded enclave. The Gaza Humanitarian Foundation (GHF) is meant to run a new, tightly controlled, mechanism for aid deliveries into Gaza, but it has been criticized by the United Nations and others, who warn it risks further displacing Palestinians and endangering civilians. US military veteran Jake Wood has quit as GHF’s executive director after just a matter of weeks at the organization, publicly…

U.S. President Donald Trump gives a speech, during the commencement ceremony at West Point Military Academy in West Point, New York, U.S., May 24, 2025. Nathan Howard | Reuters If U.S. President Donald Trump follows up on his threat of 50% tariffs on the European Union, he’d be imposing higher duties on America’s ally compared with the 30% on China currently.But on Sunday, Trump said he would delay tariffs on EU to July 9 from June 1 following a call with European Commission President Ursula von der Leyen.Indeed, when news of the tariffs first broke, analysts weren’t convinced Trump’s statement…

GAZA CITY, Gaza Strip (AP) — The Abu Jarad family is homeless once again. For the 10th time during Israel’s 19-month campaign in Gaza, they have been forced to flee, and the latest uprooting was the most painful of all.In January, during a ceasefire, Ne’man Abu Jarad, his wife and six daughters had a joyous return to their home in northern Gaza. They hoped it might be the end of their ordeal after more than a year of escaping Israeli offensives by traversing the length of the Gaza Strip and back.Weeks later, bombs started falling again. They tried to hold…

MIAMI (AP) — Flamingos, pelicans, herons and parrots are just a few of the wild birds that call Miami home, but it’s the roosters, hens and baby chicks that have come to rule the roost in recent years. Not only found in residential neighborhoods like Little Havana, Little Haiti and Wynwood, the fowl families are also making their home among the high-rises and government buildings downtown. And while some people find the crowing to be a nuisance, many have adopted the rooster as an unofficial mascot for the city. A piece of homePaul George, the resident historian at HistoryMiami Museum,…

CHIMNEY ROCK VILLAGE, N.C. (AP) — The brightly colored sign along the S-curve mountain road beckons visitors to the Gemstone Mine, the “#1 ATTRACTION IN CHIMNEY ROCK VILLAGE!” But another sign, on the shop’s mud-splattered front door, tells a different story.“We will be closed Thursday 9-26-2024 due to impending weather,” it reads. It promised to reopen the next day at noon, weather permitting.That impending weather was the remnants of Hurricane Helene. And that reopening still hasn’t arrived. Morning mist burns off the geological formations in Chimney Rock Sate Park in Chimney Rock Village, N.C., on Wednesday, May 14, 2025. (AP…