P.M. Edition for Sept. 19. Since the U.S. government spends about $1 trillion annually on interest for its debt, a lower interest rate should reduce those costs… right? WSJ tax policy reporter Richard Rubin discusses why the answer is more complex than it may initially seem. Plus, President Trump announced today that he and Chinese leader Xi Jinping have reached a deal over TikTok’s U.S. operations. We hear from the Journal’s tech policy reporter Amrith Ramkumar about what we know about the deal, including which American investors are getting involved. And in the midst of an artificial intelligence boom, the lowly hard drive is making a comeback. Investors are starting to take notice, but as WSJ Heard on the Street writer Asa Fitch explains, hard drive companies’ future prospects could be even greater. Alex Ossola hosts. Sign up for the WSJ's free What's News newsletter. Learn more about your ad choices. Visit megaphone.fm/adchoices

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“What did the council decide on item 42?” — answered with the speaker and the moment.