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

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…