Aug 17, 2019

China tariffs will hit fall shoppers despite Trump's postponement

Screenshot: MSNBC

Despite President Trump's reprieve until Dec. 15 for some China tariffs, $33 billion in apparel, shoes and hats are among items subject to a 10% tariff on Chinese imports beginning Sept. 1, the Wall Street Journal reports.

Why it matters: Previous rounds of tariffs have mostly gone unnoticed by American consumers, since they mainly affected telecommunications equipment, metal alloys and mechanical devices, says the WSJ.

Yes, but: Trump's postponement of the tariffs shouldn't be labeled as a "de-escalation" according to Chris Krueger, managing director of the Cowen Washington Research Group. It's like telling someone, "I was going to break both of your arms on Sept. 1 — now I am only going to break your elbow," Kruger noted.

Self-inflicted wound: Steve Rattner writes for the N.Y. Times ("How World Leaders Ruined the Global Economy") that the U.S., U.K., Europe, China and India "took the best growth picture in a decade and put us in danger of recession."

By the numbers: 69% of consumer goods from China will be affected by the new tariffs starting Sept. 1. Previously, only 29% of goods were affected, the WSJ reports.

Go deeper: How the U.S. decided which China tariffs will be delayed

Go deeper

Murkowski calls Mattis' Trump criticism "true and honest and necessary and overdue"

Sen. Lisa Murkowski (R-Alaska). Photo: Bill Clark/CQ-Roll Call, Inc via Getty Images

Sen. Lisa Murkowski (R-Alaska) said Thursday that she agreed with former Defense Secretary James Mattis' criticism of President Trump, calling it "true and honest and necessary and overdue."

Why it matters: Murkowski, who has signaled her discomfort with the president in the past, also said that she's "struggling" with her support for him in November — a rare full-on rebuke of Trump from a Senate Republican.

Facebook to block ads from state-controlled media entities in the U.S.

Illustration: Rebecca Zisser/Axios

Facebook said Thursday it will begin blocking state-controlled media outlets from buying advertising in the U.S. this summer. It's also rolling out a new set of labels to provide users with transparency around ads and posts from state-controlled outlets. Outlets that feel wrongly labeled can appeal the process.

Why it matters: Nathaniel Gleicher, Facebook's head of security policy, says the company hasn't seen many examples yet of foreign governments using advertising to promote manipulative content to U.S. users, but that the platform is taking this action out of an abundance of caution ahead of the 2020 election.

Virginia governor announces removal of Richmond's Robert E. Lee statue

Photo: Andrew Lichtenstein/Corbis via Getty Images

Virginia Gov. Ralph Northam announced on Thursday that the state will remove the statue of Confederate Gen. Robert E. Lee from Richmond's historic Monument Avenue.

Why it matters: It's a watershed moment for Virginia, which has been at the center of a years-long national debate about whether Confederate monuments should be displayed publicly. That discussion reached a boiling point when protests about a statue of Lee in Charlottesville turned violent in 2017.