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

WSJ What’s News

The Wall Street Journal

News, Daily News

4 • 4K Ratings

🗓️ 7 August 2025

⏱️ 14 minutes

🔗️ Recording | iTunes | RSS

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Summary

A.M. Edition for Aug 7. President Trump’s sweeping levies kicked in on dozens of countries just after midnight. But behind the scenes, negotiators are still racing to secure exemptions for key exports. Among them, chips, which are now subject to a 100% tariff - unless the importer invests in the U.S. And, the WSJ’s Stephen Wilmot and Jon Emont look at the outsize impact the trade war has had on the auto industry and the world’s poorest countries. Azhar Sukri 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	Race the rudder, raise the sails, raise the sales!
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0:26.6	That's LinkedIn.com slash lead. Terms and conditions apply.
0:33.6	Tech stocks gain after President Trump exempts firms including including Apple, from 100% levies on chips.
0:41.1	But confusion reigns as reciprocal tariffs kick in for U.S. trading partners around the world.
0:47.9	And we look at just how many billions of dollars the trade war is costing everything from automakers to the poorest countries.
0:56.5	The U.S. is the number two trading partner after China. China doesn't really need Indonesian shoes.
1:02.2	They do buy some, but they make a ton of their own shoes, right?
1:04.8	It's Thursday, August the 7th. I'm Azhar Sukri for the Wall Street Journal.
1:09.0	Here is the AM edition of What's News, the top headlines and business stories moving your world today.
1:18.2	Tech stocks are gaining after President Trump last night announced 100% tariffs on chips and to the relief of companies like Apple,
1:27.4	exemptions for tech firms that
1:29.2	invest in the U.S. Apple CEO Tim Cook yesterday promised to invest an additional $100 billion
1:36.5	in the country. That's on top of the $500 billion pledge Apple made in February.
1:42.9	Here's the president. As you know, Apple's been an investor
1:45.9	in other countries a little bit. I won't say which ones, but a couple. And they're coming,
1:52.0	they're coming home. $600 billion. It's the biggest, there is. The company is also unveiling its
1:59.4	ambitious new American manufacturing program which
	...

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