Cargo containers stacked aboard a ship at the Jakarta International Container Terminal in Tanjung Priok Port on Aug. 7, 2025.
Str | Afp | Getty Images
Tariff-related ruction appears to be settling down, but U.S. President Donald Trump is still reshaping global trade and industry — and everyday life.
After the Trump administration hinted it could be open to Nvidia exporting more powerful chips to China after their revenue-sharing agreement, the semiconductor darling was reported to be developing a new chip for Beijing.
And Intel’s bounty from the CHIPS Act, formalized by the previous administration under Joe Biden, might come with a price tag of giving the current U.S. government a stake in the company. Other companies that have received funding from the same act — such as Micron and Samsung — may be subject to the same exchange, Reuters reported.
Meanwhile, the effects of tariffs continue to creep into the home.
The costs incurred by fires in the U.S. — think of the tragic Los Angeles wildfires in January or the one near the Grand Canyon just last month — are already growing, not just in terms of the physical damage but also the price of insurance premiums.
And now that Trump has added fire extinguishers to a list of steel products that will face a 50% import tariff, even the price of relatively more benign and contained fires, such as those you start to burn photographs of your ex-partner, will be more expensive to put out. That’s a truly protest-worthy tariff.
What you need to know today
And finally…
The Millennium Bridge backdropped by St. Paul’s Cathedral in central London on Nov. 15, 2024.
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The price is REIT: UK-quoted property sector is consolidating rapidly
Episodes in which the mighty KKR receives a bloody nose are collector’s items — but we had one in the U.K. last week. The private equity giant was thwarted in an attempt to buy Assura, a property company that owns more than 600 doctor’s surgeries and medical centers.
That speaks to a bigger story — which is that U.K. stock market investors have concluded valuations in the country’s REIT (real estate investment trust) sector had become ridiculously low.
— Ian King
