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Capital Journal
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Good morning from the WSJ Washington Bureau.
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Trump's Day: The president is at Trump National Golf Club Bedminster in New Jersey.
Hong Kong: Will China intervene? Protests, which turned violent again on Tuesday, have embroiled the city, sparked by a proposed law that would have allowed the Chinese government to extradite Hong Kong citizens.
Epstein Jail Probe: Two staffers who were guarding Jeffrey Epstein’s unit were placed on leave and the warden was reassigned while the Justice Department probes the circumstances of the disgraced financier's death.
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The U.S. will delay some tariffs against China until Dec. 15. The move softens the blow of levies on items such as cellphone and laptop computers that were scheduled to take effect Sept. 1 on $300 billion of imports, Josh Zumbrun reports, and buys a reprieve for negotiators.
While a senior U.S. official says the tariff reprieve isn’t meant as an olive branch, the move was likely received in China as a conciliatory gesture, writes Yoko Kubota.
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The stock market soared on the news, with Apple Inc. closing up 4.23% and the Dow Jones Industrial Average up 1.44%.
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Do you view the delay as a reprieve? Join the conversation.
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The trade war is taking an economic toll in Germany and China.
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Americans increasingly see Beijing as an adversary, a Pew poll shows.
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President Trump on Tuesday called the Hong Kong protests a "very tough situation." Without citing specific evidence, he said China was moving troops to the city's border. U.S. defense officials declined to confirm the assertion. A senior administration official said the U.S. believed Chinese military intervention in Hong Kong would depend on whether Beijing determined that local authorities had lost control of the crisis.
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How Delayed Tariffs Could Improve Trump's Position
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Here are three groups who will be pleased the president is delaying tariffs:
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The U.S.-China trade war has been especially hard on the Farm Belt, but farmers at the Iowa State Fair almost universally expressed support for President Trump, report John McCormick and Jesse Naranjo. “He’s doing a good job and trying to make sure we’re treated fairly,” said Kevin Prevo, a fifth-generation farmer.
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Republicans are worrying about a Kris Kobach candidacy for the open U.S. Senate seat in Kansas, as Secretary of State Mike Pompeo keeps them wondering whether he might run, reports Lindsay Wise. They believe the race is Mr. Pompeo's for the asking, and fret a free-for-all primary could hand the nomination to Mr. Kobach, who has won previous primaries for Congress and governor and lost both general elections.
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People attend a candlelight vigil at a makeshift memorial honoring victims of the El Paso killings. PHOTO: MARIO TAMA/GETTY IMAGES
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White House officials have met this week with congressional staff in a bid to find areas of compromise on gun-control measures. President Trump is interested in exploring legislation with new gun restrictions, but his aides are divided on the right approach, report Rebecca Ballhaus, Andrew Restuccia and Natalie Andrews.
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Some Trump advisers have urged the president not to throw his support behind any of the gun-control measures being discussed in Congress.
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Donald Trump Jr., who discusses gun laws with his father, has raised concerns about red-flag legislation and tightened background checks.
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Punting the bulk of the action to Congress could allow the president to appear engaged without necessarily taking the blame if legislation fails.
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Most Democrats Who Back Impeachment Inquiry Represent Safe Districts, Don't Face Competitive Re-Election Fights
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By Jesse Naranjo
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More than half of House Democrats publicly back opening an impeachment inquiry into President Trump, but few in the caucus who support one do so at obvious political risk.
More than 120 Democrats in the House have said they support the opening of an inquiry, according to The Wall Street Journal’s count of impeachment backers. But among those, only five represent districts considered competitive in next year’s election. Another six represent seats currently considered to be likely Democratic next year by the Cook Political Report. The others are seen as safe.
While support for an impeachment inquiry is growing among House Democrats and a number have added their names to the list since former Special Counsel Robert Mueller’s testimony last month, support for impeachment has been limited among the general public. A Wall Street Journal-NBC poll of 800 registered voters taken July 7-9 showed 50% opposed holding any impeachment hearings.
Democratic strategist Isaac Wright said that members must balance their constituents’ concerns with the constitutional oversight responsibilities.
“They’re doing what they think is right for the country and right for their constituents, and sometimes that involves making tough choices,” Mr. Wright said. “But I don't think anybody can hold that against them.”
All but one of the five Democratic representatives in competitive races next year who publicly support an impeachment inquiry flipped Republican districts in the 2018 midterm elections.
“An impeachment inquiry is not the same thing as supporting impeachment,” Rep. Harley Rouda, a California Democrat who defeated a 15-term Republican incumbent in November, said last month in announcing his support.
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More than 20 Democratic-led states are suing the Trump administration over its rollback of regulations for power plants, in what could be a landmark case deciding what the federal government’s responsibility is for fighting global warming, Timothy Puko reports.
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The municipal-bond regulator is searching for a new chief for one of the most lucrative jobs in Washington, report Andrew Ackerman and Heather Gillers. The job currently pays more than $1 million, roughly six times the salary of the chairman of the SEC.
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Inflation may be finding its footing after a weak start this year. Consumer prices rose at a robust pace in July on the back of higher prices for energy and most other goods and services, report Paul Kiernan and Sarah Chaney. Higher prices eroded workers' wage gains.
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Investors and business are coping with a new normal of resurgent nationalism and retreating globalization, Greg Ip writes. Investors are rearranging portfolios, businesses are rethinking investments and policy makers are struggling to respond—all of which are pushing the global economy closer to recession.
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U.S. mortgage debt reached a record in the second quarter, exceeding its 2008 peak as the financial crisis unfolded. Still, the household debt picture is much different than it was 11 years ago, since less debt is delinquent today, reports Harriet Torry.
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Joe Biden is leading among the kinds of voters--African-Americans and blue-collar workers--who typically determine the winner in Democratic primaries. (National Journal)
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The "maximum pressure" campaigns of economic sanctions the Trump administration is using against Iran and Venezuela tend to sap the strength of regime opponents and leave the regime in a relatively stronger position. (American Conservative)
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Jordan has suspended filming of a fictional movie that portrays a Jewish connection to the ancient city of Petra. (Associated Press)
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This newsletter is a production of the WSJ Washington bureau. Our newsletter editors are Tim Hanrahan, Kate Milani, Troy McCullough and Daniel Nasaw. Send feedback to capitaljournal@wsj.com. You can follow politics coverage on our Politics page and at @wsjpolitics on Twitter.
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