President Donald Trump has ordered to revoke a Biden-era Executive Order that he says "hinders AI innovation and imposes onerous and unnecessary government control over the development of AI."
An Executive Order issued by former President Joe Biden established unnecessarily burdensome requirements for companies developing and deploying Artificial Intelligence that would stifle private sector innovation, according to Trump.
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Business News
June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.