AI's capabilities are growing at tremendous speeds, and while that apparently warrants a ton of the United States' money for development, it doesn't seem to translate to a very obvious action: regulation. A bipartisan group of four senators, led by majority leader Chuck Schumer, have announced a legislative plan for AI that includes putting $32 billion towards research and development. But, it passes off the responsibility of devising regulatory measures around areas such as job eliminations, discrimination and copyright infringement to Senate committees. 

“It’s very hard to do regulations because AI is changing too quickly,” Schumer said in an interview published by The New York Times. Yet, in March, the European Parliament approved wide-ranging legislation for regulating AI that manages the obligations of AI applications based on what risks and effects they could bring. The European Union said it hopes to "protect fundamental rights, democracy, the rule of law and environmental sustainability from high-risk AI, while boosting innovation and establishing Europe as a leader in the field." 

Schumer seems to disagree with finding that balance, instead stating in the interview that investment into AI research and development "is sort of the American way — we are more entrepreneurial." 

For absolutely no reason at all and clearly not to hypothesize on reasons he avoided regulations, if you didn't know, one of Schumer's daughters works as a senior policy manager for Amazon, and the other one has worked for Meta (it's unclear if she still does). Furthermore, in May 2022, the New York Post reported that over 80 of Schumer's former employees held jobs in Big Tech at places such as Google and Apple.

The United States is taking additional measures to quash China’s influence on its economy. The White House has announced a tremendous increase in tariffs on $18 billion worth of Chinese imports, including semiconductors, steel, aluminum and EVs. The latter’s tariff is set to increase fourfold, from 25 percent to 100 percent—a move that the White House claims “will protect American manufacturers.” The announcement further reported that China’s EV exports grew 70 percent between 2022 and 2023.

Other tariff increases, such as the jumps from 25 percent to 50 percent for semiconductors and solar cells, are also significant. Then there are batteries, which are getting a tariff raise from 7.5 percent to 25 percent. Medical products are also a part of this hike, with tariffs on needles and syringes increasing from zero percent to 50 percent.

The Biden administration stresses that American companies need a real shot at competing against Chinese imports. “China’s unfair trade practices concerning technology transfer, intellectual property, and innovation are threatening American businesses and workers. China is also flooding global markets with artificially low-priced exports,” the White House stated in a release. Biden’s decision builds on tariffs implemented by his predecessor and current election opponent, Donald Trump.