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Tuesday, January 21, 2025

'Germany's Scholz responds to Musk, saying freedom of speech must not back extreme-right'

 German Chancellor Olaf Scholz offered only an indirect answer when asked about tech billionaire Elon Musk during an appearance at the World Economic Forum in Davos on Tuesday.

Musk, who had previously weighed in on German politics to endorse and promote the far-right Alternative for Germany (AfD), appeared to make a Nazi salute during US President Donald Trump's inauguration festivities in Washington on Monday.

Scholz, asked about Musk on Tuesday, said he would "just ... repeat what I already said" about the billionaire boss of companies including Tesla, SpaceX and the social media platform X.

"We have the freedom of speech in Europe and in Germany, everyone can say what he wants, even if he is a billionaire," Scholz said. "And what we do not accept is if this is supporting extreme right positions. And this is what I would like to repeat again."

Musk, who spent hundreds of millions of dollars in support of Trump's election campaign, gave a speech on stage before the president's arrival at Washington's Capital One Arena on Monday.

He thanked the new president's supporters, then held his right hand to his heart - and then emphatically extended it upwards in one swift movement. He then repeated the gesture in a different direction.

In a post on X on Tuesday, Musk dismissed those accusing him of having given the Nazi salute.

"Frankly, they need better dirty tricks," Musk wrote. "The 'everyone is Hitler' attack is sooo tired."

https://www.yahoo.com/news/scholz-cites-freedom-speech-davos-144129576.html

TikTok app unavailable on Apple, Google stores in US despite Trump delaying ban

 TikTok remained unavailable on Apple and Google app stores in the U.S. on Tuesday, a day after President Donald Trump signed an executive order delaying the enforcement of a ban on the popular Chinese-owned short-video app by 75 days.

The order came amid growing doubts on the future of the app that went dark on Saturday, shortly before a law that cited national security to say the Chinese owner ByteDance should sell it or face a ban in the U.S. came into effect on Sunday.

Although TikTok resumed service after Trump's assurances that the company and its partners would not face hefty fines to keep the app running, it was yet to return to the app stores.

The delay, analysts doubted, could be because Google and Apple are awaiting additional protections before bypassing the ban that punishes the companies for hosting or distributing the app.

Apple's App Store said, "TikTok and other ByteDance apps are not available in the country or region you're in", while Google Play said, "Downloads for this app are paused due to current US legal requirements".

Google, Apple and TikTok did not respond to requests for comment.

Bill Ford, CEO of TikTok investor General Atlantic, told CNBC on Tuesday there are ways to change TikTok U.S. ownership, that do not necessarily involve its sale.

"I don't think that necessarily has to mean a divestiture," he said, referring to the law that bans TikTok, adding that 60% of TikTok's parent company, ByteDance, was controlled by non- Chinese shareholders.

ByteDance is nearly 60% owned by institutional investors such as BlackRock and General Atlantic, while its founders and employees own 20% each.

https://www.marketscreener.com/quote/stock/APPLE-INC-4849/news/TikTok-app-unavailable-on-Apple-Google-stores-in-US-despite-Trump-delaying-ban-48826105/

Johnson & Johnson Gets FDA OK For Spravato as Monotherapy

 Johnson & Johnson has won Food and Drug Administration expanded approval of its Spravato nasal spray as a lone therapy for adults with treatment-resistant depression.

J&J on Tuesday said the green light makes Spravato the first and only monotherapy for adults with major depressive disorder who have had an inadequate response to at least two oral antidepressants.

The FDA in 2019 approved Spravato, a close chemical relation to ketamine, in combination with an oral antidepressant for adults with treatment-resistant depression.

Spravato generated sales of $780 million for the first nine months of 2024, up more than 60% from a year earlier.

New Brunswick, N.J., healthcare giant said Spravato has been administered to more than 140,000 patients worldwide.

https://www.morningstar.com/news/dow-jones/202501214770/johnson-johnson-gets-fda-ok-for-spravato-as-monotherapy

'Senate Democrats boil over Laken Riley missteps'

 The Laken Riley Act is roiling the Senate Democratic Conference, as senators believe their party bungled immigration and border security in 2024 but aren’t happy about the swift passage of a bill they view as terrible policy. Democratic critics of the bill believe the rush to pass it is a political overreaction from Democratic colleagues scrambling to protect themselves on those issues.

Some Democratic senators are venting frustration about Senate Minority Leader Chuck Schumer (D-N.Y.) giving a green light to politically vulnerable colleagues to vote to advance the bill without getting an ironclad guarantee that Democrats would have more opportunity to amend the legislation.

Those Democratic lawmakers have likened the handling of the bill to a disorganized retreat and warn it has sparked deep frustration in a caucus still stung from the loss of their majority in November.

“There is huge frustration that the bill didn’t go to committee on something so consequential,” fumed one Democratic senator who requested anonymity to discuss the intense debate that rocked the caucus.

“There is huge concern because we’re talking about the mandatory imprisonment based on an accusation without a person even being charged, let alone being convicted, and this applies to kids,” the senator said. “It’s a sweeping assault on core principles, and it doesn’t even have a judicial review component.”

The senator voiced frustration that Senate Democratic leadership​ didn’t press colleagues to block the motion to proceed to the bill unless Republicans promised more votes on amendments to change the bill on the Senate floor.

“There is enormous frustration,” the lawmaker added. “They put up the white flag from the very beginning and said, ‘For too many people [in the caucus], immigration is too toxic, and we have to just get through this,’ without really understanding the gravity of this bill and what it represents in terms of violating the norms — indefinite detention, no judicial review, based on an allegation.”

Schumer downplayed the clash within his caucus, describing a lengthy debate at last Tuesday’s lunch as a discussion “of all the great issues.”

Democrats facing competitive reelections in 2026 and who represent swing states, however, were eager to vote to advance the bill after President Trump and Republicans bashed their party all year over the murder of Laken Riley, a 22-year-old nursing student who was killed by a Venezuelan migrant who entered the country without legal status and was previously arrested in New York and Georgia.

Ten Democrats voted Friday to advance the bill to a final up-or-down vote, including Sens. Jon Ossoff (D-Ga.), Gary Peters (D-Mich.) and Jeanne Shaheen (D-N.H.), who face potentially competitive races next year.

The bill passed the Senate on Monday evening. 

Sen. Michael Bennet (D-Colo.), who blasted the bill as bad policy, said the lack of opportunity to modify the legislation on the floor — aside from three amendments — represents a broader failure of the entire Senate to meaningfully debate immigration policy.

“I think that this bill reflects the way the Senate has broken down, in some respects, in the fact that we’re not able to have votes on amendments that would have improved the legislation. It’s really problematic,” he said.

Bennet said he initially voted to proceed to the bill “so we could have debate and so we could have amendments, and I feel quite strongly that it would be better to leave decisions about whether [to] incarcerate [individuals] to law enforcement when it comes to nonviolent criminals.”

He was referring to the bill’s language that requires the mandatory detention of migrants without legal status who have been accused of theft but not convicted.

Eighty-two senators voted to proceed to the bill on Jan. 13, including 24 members of the Democratic caucus.

Bennet warned the bill would require Immigration and Customs Enforcement to spend billions of dollars incarcerating nonviolent criminals instead of violent criminals. And he argued it would put state attorneys general in charge of immigration policy, something he said is a federal responsibility.

Bennet, a member of the Senate’s “Gang of Eight,” which put together the comprehensive immigration reform bill that passed the upper chamber with 68 votes in 2013, lamented that Democrats have ceded what they called their “position of strength” on the issue.

“We once had a position of strength that was defined by the work we had done on the ‘Gang of Eight’ bill that was a comprehensive approach. It reflected a comprehensive set of principles that included securing our border,” he said.

“Over the years, we have not transmitted effectively to the American people that we believe in border security and having an immigration system that better serves America’s economy,” he said. “I think it’s important for us to enter the debates like the one we just had [on the Laken Riley Act] with a clearer expression of where we stand together.”

Bennet said the Democrats’ strategy of trying to insulate themselves during the campaign from attacks related to the border by negotiating a border security deal with Sen. James Lankford (R-Okla.) wasn’t effective.

“I think it was unconvincing to voters,” he said.

Even though the National Border Patrol Council, The Wall Street Journal and the U.S. Chamber of Commerce endorsed the bill, it garnered only four Republican votes to advance it on the Senate floor.

Trump and Republicans continued to pummel Democratic candidates over the huge influx of migrants during former President Biden’s four years in office, which totaled roughly 10 million people.

Donald Trump turned our party into a punching bag when it came to immigration and the border, and there was no need for that to happen,” Bennet said.

Other Democrats vented over the swift passage of the Laken Riley Act, which is likely to pass the House and make it to President Trump’s desk.

Sen. Tim Kaine (D-Va.) joined fellow Democrats in venting frustration over not getting an opportunity to vote on more amendments.

“It is bad policy,” he said of the bill that passed the Senate on Monday. “We had an amendment broadly supported by a big cross section of our caucus that would have fixed the bill.”

He said it would have changed the standard for detainment and deportation from arrest to conviction, “but [would have] allowed arrest to be sufficient if somebody had a history of failing to appear at immigration court proceedings.”

Kaine said, “There is frustration about it.”

“What’s frustrating is so many people signaled, ‘I’m going to vote for it, whether there are any amendments or not.’ And once the Republicans have enough Democrats who are on the record saying they’re going to vote [for a bill] regardless, what motive do they have to really have a robust amendment process … or to try to fix the bill?” he said.

“I hope my colleagues won’t just signal in advance, ‘Well, we don’t need to consider any amendments at all because I’m voting yes regardless.’ I think that was a strategic error,” Kaine added. “Leadership might have been able to give everyone a little bit of a woodshed talk before.”

Sen. Bernie Sanders (I-Vt.), who caucuses with Democrats, said he had concerns “about the bill, the process and the product.”

“This is a bill that has many, many deficiencies,” he said. “The concern is what kind of precedent it sets in terms of criminal justice and the degree we believe in due process.”

Sen. Peter Welch (D-Vt.) said he was concerned with how the bill was handled.

“We should use the committee process where there’s an opportunity to deliberate and discuss,” he said.

“My preference would be that deportation occur upon a conviction, not a charge,” he added.

https://thehill.com/homenews/senate/5096575-senate-democrats-frustrated-laken-riley-act/

Trump: Putin ‘destroying Russia’ with war in Ukraine

 President Trump said Russian President Vladimir Putin is “destroying Russia” with its nearly three-year war in Ukraine, adding he hopes the Kremlin leader is open to making a deal to end the conflict.

“He should make a deal. I think he’s destroying Russia by not making a deal,” Trump said to reporters Monday night after his return to the White House.

He went on to say Russia is “going to be in big trouble” and that “most people thought that war would have been over in one week.”

“He can’t be thrilled, he’s not doing so well,” the president said about Putin. “Russia is bigger, they have more soldiers to lose, but that’s no way to run a country.”

Trump has consistently touted on the campaign trail in 2024 that he would end the war in Eastern Europe in one day after taking office. 

“I have another half of the day left,” Trump joked Monday when asked by a reporter, adding that he wants it to end soon. 

Russia’s military is operating on Ukraine’s eastern side, looking to make gains on the front. More than 1,000 Russian soldiers die and are injured daily, The New York Times reported, citing Western officials. 

Trump’s critical comments about Putin and Russia’s handling of the conflict came shortly after the Russian president congratulated him ahead of his Monday inauguration and signaled the country is open to communicating with the new administration. 

“We also hear his [Trump’s] statement about the need to do everything to prevent a third world war. Of course, we welcome this attitude and congratulate the elected president of the United States of America on his inauguration,” Putin said. 

Putin’s office also said Moscow is open to discussing the “Ukrainian conflict” with Washington and called for “eliminating the root causes of the crisis.” Kremlin frames the invasion of Ukraine, which kicked off in February 2022, as a defensive operation against Western nations and alliances, particularly NATO. 

The Russian president’s stance on potential dialogue was reiterated by his foreign policy adviser, Yuri Ushakov, who said the Kremlin is “taking into account” Trump’s remarks from Monday but is waiting for Trump’s team to initiate the potential talks. 

“We are ready and open for dialogue with the new U.S. administration on the Ukraine conflict,” Ushakov told reporters Tuesday, according to the Times. “If the relevant signals come in from Washington, then we’ll pick them up and will be ready to hold negotiations.”

Former President Biden did not conduct talks with Putin after Russia invaded Ukraine, but some communication channels have been open, particularly between the Russian Defense Ministry and the Pentagon to de-escalate tensions.

https://thehill.com/policy/international/5098017-trump-putin-ukraine-russia-war/

Vuzix Signs Distribution Agreement with Evantek; Initial Smart Glasses Order

 Vuzix® Corporation (NASDAQ: VUZI), ("Vuzix" or, the "Company"), a leading supplier of smart glasses, waveguides, and Augmented Reality (AR) technology, today announced that it has entered into a distribution agreement with Evantek Pte Ltd ("Evantek"), a diversified system integrator providing state-of-the-art solutions and technology. Vuzix has received and shipped against an initial stocking order for its Vuzix M400® smart glasses from Evantek, who will distribute Vuzix products to its customers across the Asia Pacific region.

https://www.prnewswire.com/news-releases/vuzix-signs-distribution-agreement-with-evantek-and-receives-initial-smart-glasses-stocking-order-302356221.html

Trump raises prospects for a negotiated reset on US-China ties

 Donald Trump unexpectedly held off tariffs on China on his first day back at the White House and did not single it out as a threat, raising the prospect of a rapprochement as both sides look to gain from each other rather than rain harm on an adversary.

In a speech after his inauguration, the U.S. president refrained from mentioning China, its erstwhile opponent in a previous trade war, even as he said tariffs would make the United States "rich as hell", leaving the door open for fresh negotiations with the world's second-largest economy.

Trump also delayed the ban on China-owned short-video app TikTok, but in an unprecedented move, suggested that the U.S. should be a half owner of TikTok's U.S. business in return for keeping the app alive, saying the company could be worth hundreds of billions of dollars.

As Trump begins his second term, Beijing and Washington find themselves needing a new roadmap to advance their goals and guard their interests, analysts say, although previously unresolved issues such as the 2020 trade deal could jar the currently cordial undertones.

During his first term, Trump quickly struck up a relationship with Chinese President Xi Jinping. Both men lavishly hosted each other in Florida and Beijing. But that did not stop ties deteriorating into a trade war that unleashed a series of tit-for-tat tariffs and uprooted global supply chains.

Neither side appears interested in picking up where they left off, however, with signs pointing to the negotiation table instead.

"Trump wants a deal. Otherwise, he would have shot up China on day one," said Alicia Garcia Herrero, chief economist for the Asia Pacific at Natixis.

"He ran a campaign which was very aggressive towards China, and then on day one shied away from it."

"China wins because their tariffs are going to be limited. Because they are going to offer Trump whatever he needs to do a deal. Financial services? The renminbi? You want a stronger renminbi? Sure, perhaps on a temporary basis," she added.

Another trade war would find China much more vulnerable than when Trump first raised tariffs in 2018, as it grapples with a deep property crisis, weak domestic demand and 16% youth unemployment, among other challenges.

Chinese stocks were volatile on Tuesday as investors struggled to make sense of Trump's plans for China.

Last week, Xi and Trump agreed on a phone call to create a strategic communication channel on "major issues".

The 47th U.S. president also said he could travel to China as soon as this year.

CHINA HAWKS

Hurdles could come from elsewhere, including Trump's inner circle.

Marco Rubio, a known China hawk, was confirmed as Secretary of State shortly after the president was sworn in for a second White House term.

But other members of Trump's administration may have divergent views on China.

Elon Musk, appointed by Trump to lead an advisory body aimed at creating a more efficient U.S. government, has extensive business interests in China and spent years cultivating close ties with the Chinese leadership as Tesla's CEO and might also want to weigh in on China policy.

Analysts say Trump will see himself as America's top diplomat and will not look to rely on Rubio, who is still under sanctions that China imposed in 2020, or his picks for commerce secretary or trade representative.

"The concentration of power by Trump is unprecedented in recent U.S. history. He may be the only one China can speak to from a practical perspective," said Bo Zhengyuan, a Shanghai-based partner at consultancy Plenum.

"But it depends how much Trump can move inside the U.S. system, because the consensus has already formed that China is the U.S.' No.1 adversary."

If pragmatism holds, there is an opportunity for China to talk Trump into unwinding export controls that the Biden administration had introduced to curb China's capability in key technologies such as semiconductors, analysts say.

"Trump is a businessman at heart, his considerations are more pragmatic, he is not interested in ideology," said Wang Dong, an international relations professor at Peking University.

"Other problems, like geopolitical issues, the Taiwan question, are all secondary to Trump," he added, noting the self-governing island, which Beijing claims as its own, did not come up in his inauguration speech.

"We will see whether the U.S. will return to a more pragmatic and rational state, so that both sides can further enhance China-U.S. relations and return to the track of healthy, stable and sustainable development," Wang said.

"If this can be done, we can even compare it to a 'Nixon 2.0."

Former U.S. President Richard Nixon visited Beijing in February 1972 at the height of the Cold War, paving the way for the establishment of formal diplomatic ties and China's return to the international arena.

https://www.marketscreener.com/quote/stock/TESLA-INC-6344549/news/Trump-raises-prospects-for-a-negotiated-reset-on-US-China-ties-48820435/