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Adapted from Deutsche Bank; Chart: Axios Visuals 

As a major exporter of soybeans, one of the U.S. exports long targeted by China, Louisiana will be especially hard hit by the trade war.

Details: Chinese tariffs also targeted petrochemical-heavy industries like plastics products in the second and third rounds of retaliation as the U.S. chemical industry began the first wave of more than $200 billion in new and planned infrastructure, S&P Global Platts notes.

What they're saying: "The potential of a 25% tariff from tonight would have a major impact on our production, on our investment and pricing," said Alex Camara, CEO of Audio Control in Seattle, on a call Thursday with reporters organized by the National Retail Federation.

  • "It frustrates me a little when I see headlines that tariffs are a tax on the Chinese economy. No, they are not. They are a direct impact on the cost and cash I have to spend on employment and investment. This is a direct tax."

Go deeper: Grading the impact of Trump's China tariffs

Go deeper

Updated 37 mins ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 3 p.m. ET: 18,149,860 — Total deaths: 690,624 — Total recoveries — 10,753,318Map.
  2. U.S.: Total confirmed cases as of 3 p.m. ET: 4,690,404 — Total deaths: 155,124 — Total recoveries: 1,468,689 — Total tests: 56,812,162Map.
  3. Politics: White House will require staff to undergo randomized coronavirus testing — Pelosi says Birx "enabled" Trump on misinformation.
  4. Business: Virtual school is another setback for retail — The pandemic hasn't hampered health care.
  5. Public health: Former FDA chief says MLB outbreaks should be warning sign for schools.
38 mins ago - Podcasts

White House adviser Peter Navarro talks TikTok

President Trump has relaxed his threat to immediately ban the popular social media app TikTok, giving Microsoft room to negotiate an acquisition from Chinese tech giant ByteDance.

Axios Re:Cap digs into the situation with Peter Navarro, the White House's top trade adviser and a noted China hawk, who suggests Microsoft should be forced to make unrelated concessions related to its China operations.

Trump says TikTok will be banned if not sold by Sept. 15, demands cut of sale fee

President Trump said Monday that TikTok will be shut down in the U.S. if it hasn't been bought by Microsoft or another company by Sept. 15, and argued — without elaborating — that the U.S. Treasury should get "a very substantial portion" of the sale fee.

Why it matters: Trump appears to have backed off his threat to immediately ban TikTok after speaking with Microsoft CEO Satya Nadella, who said Sunday that the company will pursue discussions with TikTok’s Chinese parent company ByteDance to purchase the app in the U.S.