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WSJ What’s News

China Says Nvidia Broke Antitrust Law

WSJ What’s News

The Wall Street Journal

News, Daily News

44K Ratings

🗓️ 15 September 2025

⏱️ 11 minutes

🧾️ Download transcript

Summary

A.M. Edition for Sept. 15. China escalated its regulatory campaign against U.S. chip giant Nvidia, heightening pressure on Washington as senior officials from both countries meet in the latest round of trade negotiations. Central to those talks is whether social-media app TikTok can continue to operate in the U.S. Plus, WSJ’s Paul Kiernan explains how falling response rates to economic surveys are undermining key government data, including the monthly jobs report. And, why we’re in the midst of a modern-day gold rush. Caitlin McCabe hosts. Sign up for the WSJ’s free What’s News newsletter. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

Protecting your nest egg, no matter what the market does, most people call that the smart money.

0:06.1

At American National Insurance Company, we call it a multi-year guarantee annuity.

0:11.3

Fund your annuity online at annuities.americanational.com.

0:18.0

All eyes are on Madrid this week as the U.S. and China square off on trade talks once again.

0:23.9

Plus, a deep dive into why Americans aren't responding to economic surveys and what that means for crucial government data.

0:30.2

The precision of things like the unemployment rate is diminished when you have a decline in response rates from more than 90%, which is what it was for

0:39.1

decades, to less than 70s percent, which is what it is now.

0:42.9

And could we be in the midst of a modern-day gold rush?

0:46.0

It's Monday, September 15th.

0:48.0

I'm Caitlin McCabe for the Wall Street Journal, and here's the AM edition of What's News,

0:52.3

the top headlines and business stories moving your world today.

0:59.4

Shares and Nvidia have slipped in off hours trading this morning after China's markets regulator said the AI chip giant violated the country's anti-competition law,

1:07.8

according to a preliminary probe, adding that Beijing would continue its

1:11.3

investigation into the company. China approved an acquisition by NVIDIA of Melanox technologies in 2020

1:17.4

after the chip juggernaut agreed to conditions, including guaranteeing supplies of chips to the country.

1:23.2

But since 2022, the U.S. government has blocked NVIDIA and other American chip vendors from selling many of their best AI chips to China.

1:31.0

The news could potentially complicate U.S. and China trade talks taking place in Madrid today.

1:36.3

Chinese-owned social media app TikTok is central to the discussions with its U.S. operations facing a Wednesday deadline for parent company BightDance to sell its controlling stake. If it doesn't, TikTok could face a U.S. operations facing a Wednesday deadline for parent company bite dance to sell its

1:44.4

controlling stake. If it doesn't, TikTok could face a U.S. ban, though the White House could extend

1:49.6

the Wednesday deadline, officials have said. Even so, Trump's team sees TikTok as a litmus test of sorts,

1:55.8

one that will indicate if China is willing to make concessions and trade talks. So far, China hasn't acted on Trump's demand for more soybean purchases or a crackdown on the flow of chemicals used to make fentanyl. We've previously reported that Beijing won't take action on the drug until Trump drops the 20% tariffs that were imposed as punishment for China's role in the fentanyl trade. We've hit them very hard in so many other ways. I don't know if you know.

2:18.7

If you know what they're paying right now, what are they paying right now?

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