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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

Wall Street braces for more turbulence ahead of Election Day

Illustration: Eniola Odetunde/Axios

Wall Street is digging in for a potentially rocky period as Election Day gets closer.

Why it matters: Investors are facing a "three-headed monster," Brian Belski, chief investment strategist at BMO Capital Markets, tells Axios — a worsening pandemic, an economic stimulus package in limbo, and an imminent election.

Dave Lawler, author of World
3 hours ago - World

How Biden might tackle the Iran deal

Photo illustration: Aïda Amer/Axios. Photo: Drew Angerer/Getty Images

Four more years of President Trump would almost certainly kill the Iran nuclear deal — but the election of Joe Biden wouldn’t necessarily save it.

The big picture: Rescuing the 2015 Joint Comprehensive Plan of Action (JCPOA) is near the top of Biden's foreign policy priority list. He says he'd re-enter the deal once Iran returns to compliance, and use it as the basis on which to negotiate a broader and longer-lasting deal with Iran.

Kamala Harris, the new left's insider

Photo illustration: Eniola Odetunde/Axios. Photo: Joe Buglewicz/Getty Images     

Progressive leaders see Sen. Kamala Harris, if she's elected vice president, as their conduit to a post-Biden Democratic Party where the power will be in younger, more diverse and more liberal hands.

  • Why it matters: The party's rising left sees Harris as the best hope for penetrating Joe Biden's older, largely white inner circle.

If Biden wins, Harris will become the first woman, first Black American and first Indian American to serve as a U.S. vice president — and would instantly be seen as the first in line for the presidency should Biden decide against seeking a second term.