Chips, Juice and Airplanes - Exemptions Confuse as Tariffs Kick In

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• 00:03

  Tech stocks gain after President Trump exempts firms including Apple from 100% levies on chips.

• 00:10

  But confusion reigns as reciprocal tariffs kick in for US trading partners around the world.

• 00:17

  And we look at just how many billions of dollars the trade war is costing everything from automakers to the poorest countries.

• 00:26

  The U.S. is the number two trading partner after China.

• 00:29

  China doesn't really need Indonesian shoes.

• 00:31

  They do buy some, but they make a ton of their own shoes, right?

• 00:34

  It's Thursday, August the 7th.

• 00:36

  I'm Azhar Sukri for The Wall Street Journal.

• 00:39

  Here is the AM edition of What's News,

• 00:41

  the top headlines and business stories moving your world today.

• 00:48

  Tech stocks are gaining after President Trump last night announced 100% tariffs on chips and,

• 00:55

  to the relief of companies like Apple, exemptions for tech firms that invest in the US.

• 01:00

  Apple CEO Tim Cook yesterday promised to invest an additional $100 billion in the country.

• 01:07

  That's on top of the $500 billion pledge Apple made in February.

• 01:12

  Here's the president.

• 01:14

  As you know, Apple's been an investor in other countries a little bit.

• 01:17

  I won't say which ones, but a couple.

• 01:19

  And they're coming home.

• 01:23

  $600 billion.

• 01:24

  It's the biggest there is.

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