A.M. Edition for Aug 1. As the deadline for many countries to clinch trade agreements expires, President Trump moves to hike levies on scores of countries, while delaying their implementation until Aug 7. WSJ finance editor Alex Frangos unpacks the ins and outs of this new trade order. Plus, WSJ data reporter Inti Pacheco takes a stroll down main street to explain how tariffs are affecting American businesses and consumers. And, Ray Dalio sells his remaining stake in Bridgewater, the hedge fund that made him a billionaire. Azhar Sukri 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.