Tariff tracker: Licence-Permit Raj makes its way to the US

News Snapshot:

It was yet another bruising day for the markets as they reeled under the effects of US President Donald Trump’s tariff regime. Leading the negative news was Nvidia — an American firm that manufactures cutting edge semi-conductors used in Artificial Intelligence (AI) and high-end computing. The company announced it will suffer losses after the US government restricted the export of Nvidia’s H20 chip to China. To be sure, Nvidia has to seek a licence from the US government now if it wants to sell its semiconductor to China. Presumably because Nvidia does not expect to get the licence, it expects...