The trade war with China escalates
After what seemed like a break in the United States’ trade war with China, negotiations between the two countries unraveled last week. President Trump called for new tariffs on $300 billion worth of Chinese goods, effectively taxing American consumers for buying Chinese products. The U.S. stock market tumbled, and the Chinese currency slipped to an 11-year low, prompting the United States to call China a “currency manipulator.”
“Lo and behold, we’ve got a full-blown trade war and currency war happening simultaneously,” economic policy reporter Damian Paletta says. Although both economies are feeling the pain of the trade war, China might be more willing than the United States to play the long game, he says.
- Trump is increasingly relying on himself – not his aides – in trade war with China
- Treasury Dept. designates China a ‘currency manipulator,’ a major escalation of the trade war
- Trump’s new tariffs take aim at heart of the U.S. economy: Consumers
Another Republican calls it quits
Republican Rep. Kenny Marchant joins Reps. Will Hurd, Michael K. Conaway and Pete Olson as the fourth lawmaker from Texas not seeking reelection in 2020.
Marchant’s announcement leaves open three U.S. House seats that were previously won by five percentage points or fewer — and brings to 12 the number of House Republicans retiring. That gives Republicans a good reason to be worried, says congressional reporter Mike DeBonis.
- Rep. Kenny Marchant calls it quits, becomes 12th House Republican to retire
- ‘Take Texas seriously’: GOP anxiety spikes after retirements, Democratic gains
Toni Morrison dies at 88
Nobel Prize-winning author Toni Morrison has died. Writer Bilal Qureshi says that Morrison, whose best-known works include “Beloved,” “The Bluest Eye” and “Tar Baby,” transformed American literature.
Mark Berman tracks the mass shootings that happened over the weekend in El Paso and Dayton, Ohio. Plus, Philip Rucker on President Trump’s response to the tragedies. And Andrew Freedman on last month’s record-breaking heat.
Monday, August 5, 2019
Annie Gowen explains how the trade war is impacting American farmers. Joy Sharon Yi on one woman’s unseen losses after the Charleston, S.C., shooting. And Drew Harwell on the shutdown of a site that’s become a refuge for racists and extremists.
Wednesday, August 7, 2019