Colombian Tariffs

Hi ZipLawyer! Trump threatened tariffs on Colombia whilst a new Chinese AI start-up rocketed through App Store charts.

Colombian Tariffs: A Whiplash Episode

Donald Trump pulled off a plot twist worthy of a telenovela, announcing 25% tariffs on Colombian imports only to backtrack hours later after striking a deal with Bogotá. Colombian President Gustavo Petro agreed to accept deportees on U.S. military flights, having initially balked at the use of shackles. The White House claimed victory, but the dramatic U-turn rattled markets and cast doubts on Trump’s fondness for economic ultimatums. While trade ties remain intact, this diplomatic tango has strained the once-solid U.S.-Colombia relationship.

Goodbye High Street: WHSmith’s New Chapter

After two centuries on the UK high street, WHSmith might be ready to pack up its pens and notebooks. The retailer, known for its books and stationery, is eyeing a sale of its 500 shops to focus on its jet-setting travel business, now raking in 75% of revenue. Private equity firms Alteri and Hilco are interested buyers, and a deal could land soon. For now, the future of WHSmith’s high street presence—and its 5,000 staff—remains an open book (what a great pun).

Rise of DeepSeek

Chinese startup DeepSeek has stormed the iPhone download charts with its AI assistant, sending shockwaves through Silicon Valley. Rivalling OpenAI and Meta, DeepSeek’s model boasts transparency, efficiency, and a development cost reportedly far lower than its US counterparts. The app’s meteoric rise has lifted Asian tech stocks and raised questions about Nvidia’s future demand as US dominance in AI faces a serious challenge. While concerns about censorship in Chinese AI persist, DeepSeek’s success highlights China’s growing clout in software innovation despite US chip sanctions.

Freshfields, Linklaters lead on security deal