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Jerry Castillo prepares a steel pipe at the Borusan Mannesmann Pipe manufacturing facility Tuesday, June 5, 2018, in Baytown, Texas. The company is seeking a waiver from the steel tariff to import tubing and casing. David J. Phillip/AP hide caption

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David J. Phillip/AP

Tariff Waivers Let U.S. Government Pick Winners And Losers

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New cars sit in a lot at the Auto Warehousing Co. near the Port of Richmond in Caliornia last year. President Trump has threatened to impose heavy tariffs on auto imports, but the White House has not announced a decision. Justin Sullivan/Getty Images hide caption

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Justin Sullivan/Getty Images

President Bill Clinton stands with Alice Rivlin, director of the U.S. Office of Management and Budget, at the White House on March 19, 1996. Rivlin was the first woman to hold that post. Richard Ellis/AFP/Getty Images hide caption

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Richard Ellis/AFP/Getty Images

The new U.S. tariffs list includes staples such as rice, along with clocks, watches and other items that weren't previously under threat of new duties. Here, farmers plant rice seeds at a seedlings pool in China's Jiangsu province. Xu Jingbai/VCG via Getty Images hide caption

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Xu Jingbai/VCG via Getty Images

U.S. Prepares Tariffs On Additional $300B Of Imported Chinese Goods

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U.S. stocks fell sharply Monday after China retaliated for President Trump's latest round of tariffs. Here, a trader works on the floor at the New York Stock Exchange as a TV shows the state of the market. Brendan McDermid/Reuters hide caption

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Brendan McDermid/Reuters

A cargo ship prepares to berth at a port in Qingdao in China's eastern Shandong province on Wednesday. New tariffs went into effect Friday. AFP/Getty Images hide caption

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AFP/Getty Images

New Round Of Tariffs Takes A Bigger Bite Of Consumers' Budget

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A shopper browses digital products at a market in Beijing. Trade tensions between China and the United States have grown significantly this week, after the Trump administration accused Beijing of backing down from commitments it had made in trade negotiations. Andy Wong/AP hide caption

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Andy Wong/AP

With its initial public offering on Friday, Uber hopes to raise billions of dollars, but analysts wonder when the ride-hailing company will turn a profit. Justin Sullivan/Getty Images hide caption

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Justin Sullivan/Getty Images

Uber's Eye-Popping IPO Approaches. Is It Really Worth $90 Billion?

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A worker dumps a bucket of tomatoes into a trailer at DiMare Farms in Florida City, Fla., in 2013. The Trump administration is preparing to level a new tariff on fresh tomatoes imported from Mexico in response to complaints from Florida growers. Joe Raedle/Getty Images hide caption

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Joe Raedle/Getty Images

Food Fight: Trump Administration Levels Tariffs On Mexican Tomatoes

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Traders work on the floor at the New York Stock Exchange on Tuesday, when major stock indexes plunged after U.S. officials accused China of reneging on commitments in trade negotiations. Brendan McDermid/Reuters hide caption

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Brendan McDermid/Reuters

Traders and financial professionals work on the floor of the New York Stock Exchange on Monday. U.S. stock markets fell sharply at the open but crept higher as the day wore on after President Trump threatened to raise tariffs on imports from China. Drew Angerer/Getty Images hide caption

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Drew Angerer/Getty Images

China 'Reneging' On Trade Commitments, U.S. Officials Say

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Betty Fernandez of Macy's department store speaks with a potential applicant about job openings during a job fair in Miami on April 5. Employers added far more jobs than expected in April — another sign the U.S. economy is chugging along as the expansion nears the 10-year mark. Joe Raedle/Getty Images hide caption

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Joe Raedle/Getty Images

Unemployment Drops To 3.6%, 263,000 Jobs Added, Showing Economy Remains Strong

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Stephen Moore speaks during a Bloomberg Television interview in Washington, D.C., on Thursday. He withdrew from consideration for a seat on the Federal Reserve Board, President Trump said. Andrew Harrer/Bloomberg via Getty Images hide caption

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Andrew Harrer/Bloomberg via Getty Images