Trump Widens Tariff Front With Security Probes on Pharma, Chips
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Good morning. US probes pharma companies and chipmakers in a prelude to tariffs. Nvidia makes a $500 billion bet on AI. And a robot may help you solve the never-ending missing-sock mystery. Listen to the day’s top stories.
Just when things were starting to look calm, the US took the next step in Donald Trump’s trade war by initiating national-security probes on semiconductor and pharmaceutical imports—opening the door to more tariffs and possible supply-chain disruptions. Word came at the end of a day in which stocks climbed alongside Treasuries, with carmakers climbing as the president floated exceptions for auto parts facing 25% US tariffs. Treasury Secretary Scott Bessent sought to comfort investors on the levies, demand for US bonds and the independence of the Federal Reserve.