The highest median salary in the U.S. if you're a millennial is San Jose, Calif., and the area around it at about $50,000 a year, according to a new study by the Brookings Institution's Hamilton Project.
But once you figure in the cost of living and taxes, Silicon Valley doesn't look as great. You'd be better off — at least from a financial standpoint — moving to Bismarck, N.D., or Midland, Texas, where you'd only earn about $33,000, but would have more in your pocket at the end, the study's authors say.
In terms of dollar value, the U.S. imports nearly four times as many goods from China as China does from the U.S., but Beijing has an arsenal of trade war weapons beyond tariffs that it could implement if the fight escalates, reports Bloomberg.
Why it matters: President Trump's latest threat of an additional $200 billion in tariffs could prompt China to unleash its non-tariff weapons.
President Trump reassured his farm voters in a pair of Wednesdaytweets from Brussels, saying he is "fighting for a level playing field for our farmers, and will win!"
"I am in Brussels, but always thinking about our farmers. Soy beans fell 50% from 2012 to my election. Farmers have done poorly for 15 years. Other countries’ trade barriers and tariffs have been destroying their businesses. I will open ... things up, better than ever before, but it can’t go too quickly. I am fighting for a level playing field for our farmers, and will win!"
— President Trump
Why it matters: Economists predict that soybean farmers are going to be among those hit hardest by China's retaliatory tariffs in Trump's trade war.
The state of play: Hong Kong's Hang Seng index dropped by nearly 500 points after the news despite market gains over the last two sessions. Japan's Nikkei fell by 1.7%, per CNN Money.
Why it matters: This is the latest move in the U.S.-Chinese trade war and could bring the amount of tariffs the U.S. has slapped on China up to $234 billion.
Univision Communications Inc., which owns the largest Spanish broadcasting network in America, announced Tuesday that it has initiated a formal process to explore the sale of some of its largest digital assets, including the Gizmodo Media Group and The Onion.
Why it matters: Univisionpurchased the group of millennial websites within Gizmodo Media Group just a little over a year ago, but rumors of a sale have been circulating for months. Univision has also scrapped its IPO plans, citing "prevailing market conditions."
BMW, the largest auto exporter from the U.S., says it will be raising its prices on SUVs built in the U.S. and imported to China because of President Trump's tariffs, according to Kenn Sparks, the head of U.S. Corporate Communications for BMW of North America, LLC. BMW says “all announced expansions for the BMW Spartanburg plant are continuing.”
The big picture: Many foreign auto companies choose to produce cars in the U.S. to keep their manufacturing costs in dollars to avoid currency fluctuations. But Trump’s battle on tariffs with China is starting to eclipse that benefit, and American employment could take a hit.
Tesla is upping the price of its cars in China after Beijing hit American auto imports in its retaliatory tariffs on $34 billion worth of U.S. goods.
The big picture: Tesla is the latest company to take a hit in President Trump's trade war, which economists say could hurt American farmers and other automakers around the world.
For the second year in a row, former New York Mayor Michael Bloomberg will convene world leaders and CEOs for a Bloomberg Global Business Forum in New York on September 26 during the United Nations General Assembly.
“The Forum comes at a critical time as tensions around tariffs create economic uncertainty in many industries."
