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China's red meat trade offering to Trump

Alex Brandon / AP

President Trump's Mar-a-Lago hosting with Chinese President Xi Jinping appears to be bearing some fruit, per the FT, which says China has offered the following concessions on trade:

  1. A drop on China's ban on U.S. beef, which has been in place since a Mad Cow Disease scare in 2003.
  2. Foreign investors will be allowed to hold majority stakes in Chinese investment and securities companies. This concept was discussed during the Obama administration, and a Chinese official told the FT it would have gone through had Obama had a few more months in office.

Why it matters: Trump needs concrete wins on trade, particularly for his heartland voters, and China wants to lock in a bilateral trade deal with the U.S., which it isn't eager to fight in a Trumpian trade war.

Ina Fried 46 mins ago
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Craigslist pulls personal ads after passage of sex-trafficking bill

Online classified site Craigslist has pulled its entire personal ad section after Congress passed a new sex-trafficking bill that puts more liability on Web sites.

Why it matters: Smaller tech companies and advocates for sex workers had feared a chilling effect if the bill becomes law.

Khorri Atkinson 3 hours ago
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China slaps reciprocal tariffs on U.S. imports

China's President Xi Jinping speaks next to President Trump. Photo: Nicolas Asfouri// AFP / Getty Images

China announced plans to impose reciprocal tariffs on $3 billion of imports from the U.S., hours after President Trump ordered levies on a range of Chinese goods.

The details: China's plan includes a 25% tariff on U.S. pork imports as well as 15% tariffs on American steel pipes, fruit and wine, according to Bloomberg.