内容摘要：The highest debt-to-GDP ratio was during the pandemic in 2020, when the ratio hit 133 percent. The US is among the top 10 countries in the world with the highest debt-to-GDP ratio.

The highest debt-to-GDP ratio was during the pandemic in 2020, when the ratio hit 133 percent. The US is among the top 10 countries in the world with the highest debt-to-GDP ratio.

The bill is now headed to the Senate, where Republicans hold 53 seats and Democrats hold 47. It is unclear when the vote will take place, but Trump is urging Republican senators to promptly pass it.On May 22, Trump wrote on his Truth Social platform: “Thank you to every Republican who voted YES on this Historic Bill! Now, it’s time for our friends in the United States Senate to get to work, and send this Bill to my desk AS SOON AS POSSIBLE!”

How many colleges could be affected by this?An investigation by The New York Times found that at least 58 schools could potentially be affected by this.Major universities could fall under the highest tax slab.

In the 2024 fiscal year, Harvard University’s total endowment was worth approximately $53.2bn – the largest of any university. There are 24,596 students at Harvard, which means the per-student endowment is $2.16m. That means it will have to pay a 21 percent tax if the bill becomes law.Yale University’s endowment is valued at $41bn and the university has 15,490 students, bringing the per-student endowment to about $2.7m. While the institute currently pays the 1.4 percent tax, it too will have to pay a 21 percent tax if the bill becomes law.

Likewise, Stanford’s endowment is $36.5bn and it has 17,529 students, making the per-student endowment about $2.1m. While the institute currently pays the 1.4 percent tax, it will have to pay a 21 percent tax if the bill becomes law.

By contrast, University of Pennsylvania’s total endowment was $22.3bn as of June 2024 and the institute has 24,219 full-time students, making the per-student endowment $920,764. While the institute currently pays the 1.4 percent tax, it will have to pay a 7 percent tax if the bill becomes law.Huawei is seen as a competitor to Nvidia, the US semiconductor giant which produces its own-brand of “Ascend” AI chips. In April, Washington restricted the export of Nvidia’s AI chips to China.

But Nvidia’s chief executive, Jensen Huang, recently warned that attempts to hamstring China’s AI technology through export controls had largely failed.How could China be affected by US measures?

The suspension of semiconductor sales will limit supplies for aerospace equipment needed for China’s commercial aircraft, the C919, a signature project in China’s push towards economic and transport self-reliance.Christopher Johnson, a former CIA China analyst, told The Financial Times that this week’s new export controls underscored the “innate fragility of the tariff truce reached in Geneva”.