Meta and FTC face off

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Tech Across the Globe

China's tariff riposte: China retaliated against President Trump by announcing it would impose an 84% tariff on all imports from the US starting April 10. Trump responded by raising duties on China to 125%. PC shipments tick up: Shipments of PCs grew at their fastest pace since the pandemic ahead of tariffs kicking in. Still, market tracker Canalys cautioned that end-user demand is stable and these hastened shipments will lead to an eventual dropoff. Nintendo's reprieve: The Switch 2 is one of the major beneficiaries from Trump's pause on tariffs for nations not named China. That allows Nintendo to ship millions of units to the US from Vietnam, which will be subject to a much more conventional 10% levy at the border.

Revalued

Self-driving tech startup Nuro has raised $106 million in its latest funding round. Its valuation is now $6 billion, a markdown from an $8.6 billion value following a 2021 raise. In the intervening years, the company has pivoted its business strategy and weathered a broader downturn in capital financing by slashing its staff and finding other ways to cut costs.

Must read

Meta Platforms Inc. and the FTC are heading to court next week over the extent of the social media titan's power. Kurt Wagner previews the clash, which will include testimony from senior executives and may yield previously undisclosed documents, in today's Tech In Depth essay.

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