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Worldwide economic news this morning included a pair of major stories: an advancement for the UK's AI sector and a significant increase in international trade tensions.

Google DeepMind's Robotic Research Lab

Google DeepMind has announced intentions to build its first “robotic research facility” in the UK. This decision is considered a boost to the country's AI ambitions.

The lab will be primarily focused on advanced materials discovery. It will leverage “advanced robotics” to synthesize and analyze hundreds of materials per day. The key objective is to dramatically shorten the timeline for identifying groundbreaking new materials.

The organization stated that the lab, set to be built in the year 2026, will “accelerate research breakthroughs”. They elaborated:

Finding new materials is a crucial pursuits in scientific research, which could lead to lower expenses and unlock entirely new technologies.

For example, materials that conduct electricity without resistance that operate at room temperature and pressure could enable low cost diagnostic scans and reduce power loss in electrical grids. Other novel materials could assist in addressing critical energy issues by unlocking advanced batteries, more efficient solar cells and higher-performance computer chips.

This initiative is one element in a deeper collaboration with the British government. Under the agreement, British researchers will get special access to a suite of cutting-edge artificial intelligence models for research purposes.

Mexico's Trade Decision

In another story, international trade tensions intensified further after the Mexican legislature approved increased import duties of up to 50% starting in 2026 on goods from China and several other Asian nations.

The new levies are meant to strengthen local industry. They will raise or impose new tariffs of up to 50% from next year on certain products such as autos, vehicle components, fabrics, clothing, plastic goods and steel.

These tariffs will affect goods from countries that lack trade deals with the country, such as China, India, South Korea, Thailand and Indonesia. Most of affected goods will see tariffs of up to 35%.

The Chinese Ministry of Commerce has criticised the move, calling on Mexico to rectify “unilateral, protectionist practices” promptly.

Additional Business Updates

Russia's oil and fuel export earnings have hit their lowest point since the start of the conflict in Ukraine in 2022. A global energy watchdog stated that exports fell again in the last month due to reduced shipments and lower market prices.

Meanwhile, in Switzerland, the central bank kept its key policy rate unchanged at zero percent. The bank cited price increases that was slightly lower than anticipated, but noted that longer-term price pressures remained virtually unchanged.

The AI sector faced selling pressure following weaker-than-expected financial results from Oracle. The company's shares fell sharply in extended dealing after it fell short of revenue and earnings expectations and raised its spending forecast for AI data centers. The news raised concerns about the profitability of heavy AI investments.