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Photo: Daniel Fung/SOPA Images/LightRocket via Getty Images

President Trump is likely to further raise tariffs to 25% on Chinese imports by Friday, and prices of consumer products could soon spike.

The big picture: Trump has exhausted his options on taxing items that won't affect American consumers. Electronics, toys and shoes have so far been exempt, leaving the manufacturing industry and farmers to bear the brunt of the trade war. This weekend's expansion could change that.

Expand chart
Adapted from a Peterson Institute for International Economics analysis; Chart: Axios Visuals

Estimates show this potential third wave of tariffs will include nearly 3,000 more products that were left off prior lists and an estimated $267 billion of imports, according to a Peterson Institute for International Economics analysis.

Top consumer products affected:

  • Tariffs on toys and sports equipment.
  • Electronics and electrical machinery including smartphones, computers, TVs, fitness trackers, Bluetooth wireless headsets and drones, CNN reports.
  • Footwear like Nike and Adidas.
  • Textiles and clothing. Fast fashion clothing stores and retail stores like Gap and Levis that have several factories along the coast.

What to watch: Trump told reporters on Thursday that China President Xi Jinping sent him a letter and they plan to speak by phone to continue trade talks. Though a deal is still pending, Trump said tariffs are an "excellent" alternative.

Go deeper:

Go deeper

9 mins ago - Technology

3D printing's next act: big metal objects

Chief Scientist Andy Bayramian makes modifications to the laser system on Seurat's 3D metal printer. Photo courtesy of Seurat Technologies.

A new metal 3D printing technology could revolutionize the way large industrial products like planes and cars are made, reducing the cost and carbon footprint of mass manufacturing.

Why it matters: 3D printing — also called additive manufacturing — has been used since the 1980s to make small plastic parts and prototypes. Metal printing is newer, and the challenge has been figuring out how to make things like large car parts faster and cheaper than traditional methods.

Rising rates may hammer the stock market

Illustration: Sarah Grillo / Axios

Stocks are much more vulnerable to interest rate swings than they used to be.

Why it matters: A sharp rise in rates in early 2022 is the key reason the stock market is off to an ugly start. And with the Federal Reserve making noise about trying to keep inflation in check, rates could go higher.

Ina Fried, author of Login
55 mins ago - Technology

Microsoft's Activision Blizzard deal complicates Big Tech regulation

Illustration: Megan Robinson/Axios

Microsoft's surprise $68 billion deal to buy Activision Blizzard is adding a fresh twist to the heated debate over which tech companies have monopolies that need to be reined in.

The big picture: The deal could force a question the company has happily ducked for a decade: whether its size and power make it just as deserving of regulatory scrutiny as its Big Tech rivals.