President Trump unveiled his Artificial Intelligence Action Plan, saying the goal is to strengthen the U.S.'s technical capabilities and remove guardrails put in place by the Biden administration. CBS News contributor Javier David breaks it down.

Washington

The release of Open AI's ChatGPT has accelerated the development of artificial intelligence and warnings about its impact on society.

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President Trump has introduced an artificial intelligence action plan designed to enhance the United States' technical infrastructure and reduce regulatory barriers established by the previous administration. The plan features more than 90 federal policy actions, including support for building data centers, semiconductor plants, and improvements to the national electric grid. 

The initiative is seen as a move to maintain US leadership in AI technology, positioning it as a matter of national security and industrial policy. The plan reflects significant input from Silicon Valley technology leaders and aims to avoid cultural and political controversies that have previously affected the tech sector.

Trump reveals details about AI Action Plan

Well, turning now to President Trump's artificial intelligence action plan, the goal, he says, is to strengthen the country's technical capabilities and remove guardrails put in place by the Biden administration. The plan includes more than 90 federal policy actions, including supporting the construction of data centers, semiconductor plans and the nation's electric grid. During remarks at a summit in Washington this evening, President Trump highlighted how the plan will help put U.S. technical capabilities ahead of other countries. Take a listen. America is the country that started the A.I. race. And as president of the United States, I'm here today to declare that America is going to win it. CBS News contributor Javier David joins us now. He also is the business editor for the Dallas Morning News. Great to see you, Javier. What are the administration's goals with A.I.'s plans and how could competing countries view this? Yeah, I mean, the first thing here, this is an opportunity for the Trump administration to kind of course correct from the Biden era that drew a lot of complaints with the ex-president did from the tech sector about how restrictive some of those rules were. But here's the second and the most important. All the headlines of the day tell the story like this blueprint is very much a work product of Silicon Valley's power players. They staff the president's inner circle in terms of technology. Many of them are like A.I. maximalists of the highest order. This document reflects that. So a lot of Silicon Valley, since at least 2020, has been waging this battle against political correctness and wokeness, or so they call it. The plan is kind of a rallying cry. It's an attempt to ensure that A.I. doesn't become another wedge in the culture war. And as much as we talk about the market impact, say Vidya, Microsoft, Meta, this is very much A.I. is really viewed as a matter of national security and a totem of industrial policy. And so being in this arms race with China and others on this technology, U.S. officials are really moving to sort of make sure that America leads the way and that we don't get caught in these controversies that have bogged down the tech sector here in the United States. The U.S. and Japan have reached a trade deal recently which will impose 15 percent tariffs on Japanese goods entering the United States. Americans imported more than $148 billion worth of Japanese goods last year. So how significant is this new agreement in which the U.S. industries could see the biggest changes from it? Honestly, it's being hailed as a potential blueprint for all of these other deals that are currently being negotiated. Europe, India, South Korea, it's a respectable deal, particularly for Japanese automakers because it lowers levies on imports. Japanese markets certainly liked it because the stocks there soared. Toyota saw a big spike of 13 percent today. Honda jumped 12 percent. You know, in exchange for the softening of these tariffs, Japan is agreeing to open up their economy to trucks and rice and other agricultural imports. But to me, it really sort of spells out this thing that if we didn't know this already, the era of free trade is kind of dead. Japan is a U.S. ally and they're being slapped with 15 percent tariffs. It's not catastrophic. It's not the 25 percent that we were all thinking that they were being threatened with. But consider this. The average tariff now stands around 17 percent. Last year it was 2.5 percent. So one of the reasons why we continue to see markets rallying is because the world is gradually coalescing around this idea that they can live with tariffs at this level, even if—especially if they don't go much higher. Investors seem excited about this deal. And the two finalized yesterday with Indonesia and the Philippines. The S&P 500 hit a new all-time intraday high this afternoon. Is the rally expected to last? And which other foreign deals are investors eyeing ahead of the administration's August 1st tariff deadline? Yeah, the near term, keep watching stocks. They'll probably continue to go higher, even if they ignore certain risks. And let's see what happens with India. OK. And Canadian Prime Minister Mark Carney said today that Canada will not accept a bad deal simply to end negotiations before the August deadline. So he went on to say that officials are pursuing a deal that is in the best interest of Canadians. Canadian goods will be tariffed at 35 percent if a U.S. agreement is not reached before the deadline. How concerning is this in terms of Canada's hesitation for U.S. businesses? Yeah, we import a lot of wood, wood products, metals, agricultural products. So this is bad news if you're a home builder that imports things like lumber and steel from Canada. So not good news on that front. But let's see what happens. There's always sort of a last minute reprieve and maybe we'll something will save the day this time around. All right. Javier David, thank you for joining us. Sure.

France intends to recognise a Palestinian state in September at the UN General Assembly, President Emmanuel Macron said in hopes of bringing peace to the region, but the plan drew angry rebukes from Israel and the United States.

Middle East Conflict

Macron says France will recognize Palestine as a state

Ukrainian President Volodymyr Zelensky has approved a draft bill to restore the independence of anti-corruption agencies, following nationwide protests and EU concerns over recent reforms that threatened their autonomy.

Ukraine Invasion

Zelensky approves anti-corruption bill after protests

Chinese and European Union leaders have met in Beijing for their first in-person summit since 2023, addressing a range of contentious issues amidst growing trade tensions. The talks, led by Chinese President Xi Jinping and EU officials Ursula von der Leyen and Antonio Costa, highlighted the complex nature of China-EU relations.

Beijing

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The United Kingdom and India have signed a trade agreement that will reduce tariffs on goods from textiles to whisky, cars and spices and allow more market access for businesses. British PM Keir Starmer hailed the agreement as a “landmark moment” for both countries.

London

Global Tariffs

UK, India sign free trade agreement during Modi visit

President Trump and Federal Reserve Chair Jerome Powell had a disagreement almost immediately as the two men set foot in the Fed's headquarters in Washington to survey an extensive renovation project on two of the reserve's buildings. Nancy Cordes has more.

Trump, Powell clash during tour of Federal Reserve renovations

Hulk Hogan, the legendary professional wrestler whose real name was Terry Bollea, died on Thursday at the age of 71, according to World Wrestling Entertainment.

Clearwater

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Tynda

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Columbia University will pay $200 million to resolve federal claims it failed to stop harassment of Jewish students during campus protests. The Trump administration had suspended the school's access to $400 million in funding.

New York

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Israel issued a statement indicating that Prime Minister Benjamin Netanyahu has asked the Gaza negotiating team to return to Israel for ceasefire talks. CBS News' Ramy Inocencio reports.

Jerusalem

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Nashville

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Dr. Salvador Plasencia admitted to distributing ketamine to actor Matthew Perry before his 2023 overdose. He is the fourth person to plead guilty in the case and faces up to 40 years in prison.

Los Angeles

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Istanbul

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A passenger plane has crashed in southeastern Russia with up to 49 people onboard. Emergency services say the An-24 aircraft took off from the city of Khabarovsk and was heading to the town of Tynda. Wreckage was found on a mountainside around 15 kilometres from the flight's intended destination.

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Ukraine's President Volodymyr Zelenskiy vowed to retain the independence of anti-corruption agencies, bowing to pressure from the first wartime street protests and rare rebukes from European allies.

Kyiv

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U.S. President Donald Trump's name is among the many appearing in the Epstein files, according to the Wall Street Journal, and he was told as much earlier this year by the U.S. Justice Department.

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Dr. Salvador Plasencia, the doctor accused of supplying Matthew Perry with ketamine in the month leading up to his death, has pleaded guilty to four counts  of distribution of ketamine. Plasencia is the fourth of the five people charged in connection with Perry's death to plead guilty.

California

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Russia and Ukraine have exchanged prisoners following the latest round of talks in Istanbul. The swap, involving dozens of soldiers — some severely wounded and held since the war’s start in 2022 — took place on Wednesday night. While the prisoner exchange marks a rare point of agreement, both delegations remain divided on ceasefire terms.

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After reviewing the Epstein files, Attorney General Pam Bondi told President Trump his name appears alongside many others, according to a new report in the Wall Street Journal. CNN’s Paula Reid details what we know.

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Ukrainian President Volodymyr Zelensky signed a bill reducing the autonomy of two Ukrainian anti-corruption bureaus. Ukrainians protested in Lviv and Kyiv, concerned that the bill could lead to more corruption and threaten Ukraine’s chances of entering the European Union.

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A federal judge on Wednesday ordered Kilmar Abrego Garcia's release as a second judge barred ICE from taking him into custody. CBS News legal reporter Katrina Kaufman has more.

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A judge on Wednesday (July 23) sentenced Bryan Kohberger to four life sentences without the possibility of parole after he pleaded guilty to the murders of four University of Idaho students in 2022.

Boise

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House Speaker Mike Johnson is sending lawmakers home early for their August recess amid a continued push to release all files related to Jeffrey Epstein. CBS News' Taurean Small has the latest.

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Venezuela Attorney General Tarek Saab's office will investigate El Salvador's President Nayib Bukele and two other officials for the alleged abuse of Venezuelans who were detained in the Central American country.

Caracas

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U.S. President Donald Trump touted new trade agreements with Japan, Indonesia and the Philippines ahead of his looming August 1 global tariff deadline. CBS News' Natalie Brand has the latest from the White House.

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As Bryan Kohberger faces sentencing for the University of Idaho murders, families and investigators are breaking their silence. The gag order has been lifted, prompting emotional impact statements and new revelations from officials involved in the case.

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U.S. President Donald Trump accused former President Barack Obama of "treason" on Tuesday, accusing him, without providing evidence, of leading an effort to falsely tie him to Russia and undermine his 2016 presidential campaign.

Trump reveals details about AI Action Plan

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