The Trump administration on Wednesday revealed its comprehensive artificial intelligence (AI) plan—a sweeping set of initiatives and policy recommendations aimed at securing America's dominance in a field expected to reshape the global economy as profoundly as the internet once did.

The plan, which has been warmly received by Silicon Valley, centers on reducing regulatory barriers to AI development—except for one key exception aligned with Trump’s "America First" agenda: eliminating what it calls "political bias" in AI systems.

Outlined across three core pillars, the strategy seeks to:

- Accelerate innovation,

- Expand domestic AI infrastructure,

- And make U.S. software and hardware the global standard for AI technologies.

A 28-page policy document released Wednesday recommends that any large language models procured by the federal government be “objective and free from ideological bias.”

The initiative marks the latest move by Trump to boost AI infrastructure and investment in the U.S., and reflects the administration’s strategic priority to outpace China in the AI race.

“We are now in a global race to lead in AI,” said David Sacks, the White House’s so-called “AI Czar,” during a press briefing. “This is a revolutionary technology with massive implications for both the economy and national security. America must remain the dominant force.”

The announcement preceded Trump’s keynote speech at the "Winning the AI Race" event in Washington, hosted by the All-In Podcast and the Hill & Valley Forum, co-founded by former U.S.-China Security and Economic Review Commissioner Jacob Helberg alongside prominent tech investors.

“Whether we like it or not, we are now engaged in a high-stakes race to build and shape this pioneering technology that will define much of civilization’s future,” Trump declared at the event. “America started the AI race, and as President of the United States, I am declaring that America will win it.”

He emphasized slashing red tape that could hinder AI progress, likening the sector to a “beautiful newborn baby” that must be allowed to “grow and thrive without being smothered by politics or stupid rules.” He added, however, “I don’t even like the name ‘artificial intelligence’—I don’t like anything artificial.”

Action Plan Details

The strategy calls for eliminating bureaucratic hurdles that slow AI development, based on recommendations from the private sector, academia, and civil society. It also urges fast-tracking permits for data centers, semiconductor plants, and energy infrastructure.

The administration plans to work with U.S. tech companies to offer “integrated AI export packages”—bundling models, hardware, and software—for allied nations. The goal is to make U.S. technology the global benchmark, a long-standing demand from Silicon Valley to maintain American AI leadership.

Michael Kratsios, head of the White House Office of Science and Technology Policy, said all outlined policies could be implemented within six to twelve months.

As lawmakers and tech leaders continue to debate how best to regulate AI, the struggle to balance safety with rapid innovation intensifies.

After taking office, Trump revoked a sweeping executive order by former President Joe Biden that had imposed certain restrictions on AI development and use.

On July 1, the U.S. Senate voted to remove a provision from a broader bill that would have blocked individual states from enacting their own AI-related laws for ten years.

Tech leaders opposed the provision, citing fears of fragmented regulations that could hinder innovation. Critics of its removal argue that preventing state-level action could delay efforts to ensure AI safety and accountability.

The AI plan recommends that federal funding for related programs take into account each state’s regulatory climate.

At the Washington event, Trump stated: “We need uniform federal standards—not 50 different states regulating this industry in 50 different ways. No single state should be able to set the bar so high that it stalls progress.”

AI Investment Momentum

Wednesday’s plan builds on a wave of private-sector AI investments and announcements during Trump’s second term.

On July 15, Trump announced over $90 billion in investments from firms in tech, energy, and finance aimed at transforming Pennsylvania into an AI hub.

He also launched a $500 billion national AI infrastructure initiative dubbed “Stargate”—a collaboration with OpenAI CEO Sam Altman, SoftBank Chairman Masayoshi Son, and Oracle Chairman Larry Ellison.

Additionally, Trump pledged to lift Biden-era export controls on AI chips, recently allowing Nvidia to resume H20 chip sales to China.

Broader efforts are also underway to pressure tech firms to expand operations within the U.S. as part of a reshoring push to create jobs and reduce reliance on China—though experts remain skeptical of the long-term feasibility.

Trump has cited investments from companies like Apple and TSMC as policy wins, even though some of them were planned prior to his term.

The first six months of Trump’s second term have seen heavy tech industry engagement at the White House, with a shared mission: staying ahead of China in AI.

The launch of DeepSeek’s affordable, high-performance R1 model in China earlier this year rattled Silicon Valley, prompting faster moves from the U.S. administration.

The debate over how to maintain AI dominance while ensuring safety has returned to the spotlight in Congress. In May, leaders from Microsoft, OpenAI, and AMD testified before the Senate.

Microsoft Vice Chair Brad Smith said during the hearing: “The number one factor that will determine whether the U.S. or China wins this race is: whose technology becomes more widely adopted around the world.”

Most major US stock indices rose on Thursday—except for the Dow Jones—as both the Nasdaq and S&P 500 reached new all-time highs, with investor attention firmly on corporate earnings releases.

On Wednesday, Tesla reported weak Q2 earnings, while Alphabet posted stronger-than-expected profits and revenue, also announcing plans to ramp up spending on artificial intelligence.

Meanwhile, President Donald Trump declared his intention to visit the Federal Reserve’s headquarters later today, marking an unprecedented escalation in his pressure campaign against Fed Chair Jerome Powell. This would be the first visit of its kind by a sitting US president to the central bank in nearly two decades.

As of 16:53 GMT, the Dow Jones Industrial Average declined 0.4% (160 points) to 44,850. The broader S&P 500 rose 0.3% (18 points) to 6,377, while the tech-heavy Nasdaq Composite gained 0.3% (70 points) to 21,090.

Copper futures in the United States surged to a new record high on Thursday, widening the price gap versus the global benchmark just one week ahead of the planned implementation of US import tariffs on the metal.

The most actively traded copper contract for September delivery on the COMEX rose 1.2% to $5.888 per pound, after peaking at $5.959.

In contrast, three-month copper on the London Metal Exchange (LME) slipped 0.2% to $9,910 per metric ton during official trading.

The price gap between COMEX copper and the global LME benchmark widened to 31%, up from 29% on Wednesday.

Although this gap remains below the 50% tariff announced by President Donald Trump, markets are closely watching for confirmation of the August 1 deadline and the final list of copper products subject to the duties.

“We remain cautious about the current copper rally,” said Eva Manthey, commodities strategist at ING. “Any shift in Trump’s tariff policy—whether through exemptions or reduced rates—could narrow the COMEX price premium.”

COMEX copper warehouse inventories have surged 163% over the past four months, though inflows have slowed recently.

Manthey added that this trend is likely to continue, improving copper availability outside the US and maintaining global price pressure.

Beyond the looming US copper tariffs, the metals market is also focused on upcoming trade talks between the US and China in Sweden next week, as well as Washington’s negotiations with other nations and ongoing investigations into possible tariffs on critical minerals.

Other LME Metals

- Tin held steady at $34,845 per ton in official trading, after reaching $35,100 earlier in the session—its highest since April 7.

- Aluminum dipped 0.1% to $2,648 per ton.

- Zinc fell 0.3% to $2,853 after both metals touched four-month highs earlier in the day.

- Lead and nickel declined 0.2% to $2,028 and $15,540 per ton, respectively.

The European Central Bank has just announced its interest rate decision following the July 23–24 meeting, leaving rates unchanged at 2.15% — the lowest level since October 2022, in line with most market expectations.

This decision follows a previous rate cut, marking the seventh consecutive reduction. Policymakers at the ECB opted to pause further easing to assess the impact of recent US tariffs on economic activity within the Eurozone.

This decision is considered positive for the euro.