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The president’s tariff policies aren’t helping increase real incomes or reduce inflation, The Wall Street Journal’s editorial board warned.
The figures are a blow to the president, who came to office promising to reduce cost of living pressures.
Nvidia announced it would now be allowed to sell its H20 computer chips to China.
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The warning was one of many threats Trump issued this week.
The president was quick to undermine his new threat, which came after he had already delayed the original deadline.
The president threatened four countries with 25 percent tariffs, a fifth with 30 percent tariffs and two more with 40 percent tariffs starting August 1.
The ever-changing tariff deadline appeared to confuse the president himself.
A source close to the MAGA administration suggested the president’s “deals” are all theatrics.
The secretary of commerce’s July 4 weekend began early.
The president will instead send out letters hoping countries fall into line with his tariff demands.