Axios

Billionaire Charles Koch told reporters at his political network's conference on Sunday that President Trump's trade policies could prove to be "disastrous," per TIME.

"Any protectionism at any level, certainly at a national level, is very detrimental. There are scientific and historical reasons. I mean, every nation that has prospered is one that didn’t engage in trade wars."

Why it matters: The Koch network has signaled a stark move away from the Trump administration's priorities this weekend — just ahead of this fall's midterms. And Koch himself signaled that he could be open to supporting Democrats who support free-market ideals over Trump's protectionism, saying, "“I don’t care what initials are in front or after somebody’s names."

President Trump unleashed a series of tweets Sunday lambasting the news media's coverage of his administration, saying that he won't "allow our great country to be sold out by anti-Trump haters in the dying newspaper industry."

"When the media - driven insane by their Trump Derangement Syndrome - reveals internal deliberations of our government, it truly puts the lives of many, not just journalists, at risk! Very unpatriotic!"

The backdrop: His Twitter tirade comes hours after he announced that he had met earlier this month with A.G. Sulzberger, the publisher of The New York Times, which Trump claimed involved a discussion "about the vast amounts of Fake News being put out by the media. But Sulzberger issued a statement afterward that he accepted the meeting "to raise concerns about the president’s deeply troubling anti-press rhetoric."

Vice President Mike Pence defended on Sunday the White House’s decision last week to ban CNN reporter Kaitlan Collins from attending an event in the Rose Garden with President Trump during an interview with Fox News' Maria Bartiromo.

"This administration believes in the freedom of the press, and President Trump and I and our entire administration have provided extraordinary access to the media. The president answers to many questions in so many different settings, and I can assure you that we’ll continue to do that. But maintaining the decorum that is due at the White House I think is an issue that we’re continuing to work for."

Our thought bubble: Collins said she was chastised by administration officials who objected to her questioning of the president when she was the TV pool reporter, but Axios' Jonathan Swan tweets: "I watched the video of Kaitlan asking questions. There was zero wrong with her decorum and in fact we rely on pool reporters to do exactly what she did every day."

Stores that once dedicated whole sections to compact discs are now throwing them in bargain bins as demand for music on CDs shrinks.

The big picture: As streaming services replace previous modes of music consumption, CDs are too young to be considered vintage and too old to keep their value. Stores like Best Buy and Target that were once powerhouses for CD sales are inching toward a CD-less model, according to the Star Tribune.

President Trump tweeted Sunday morning that he had met with A.G. Sulzberger, the publisher of The New York Times — which the White House confirmed occurred on July 20, per The Washington Post.

"Had a very good and interesting meeting at the White House with A.G. Sulzberger, Publisher of the New York Times. Spent much time talking about the vast amounts of Fake News being put out by the media & how that Fake News has morphed into phrase, 'Enemy of the People.' Sad!"

The response: Sulzberger issued a statement that he accepted the meeting "to raise concerns about the president’s deeply troubling anti-press rhetoric," adding that he "told the president directly that I thought that his language was not just divisive but increasingly dangerous."

BMW has said it will increase prices 4% to 7% in China on two SUV models manufactured at its South Carolina factory — the X5 and the X6 — in order to partially offset costs from new tariffs on automobiles, reports Reuters.

The big picture: Beijing hit American auto imports with a 25% hike in retaliatory tariffs on July 6, bringing the total import duty to 40%. Like Ford, BMW's price rise indicates the German automaker will absorb the bulk of the higher import costs stemming from the trade dispute — while Tesla has hiked its Chinese prices by about 20%.

1. Reed Hastings - Netflix: Actual pay: $178,823,897 | Listed pay: $42,377,499

2. Neal Patterson* - Cerner: Actual pay: $148,608,815 | Listed pay: $4,611,510

3. Jamie Dimon - JP Morgan Chase: Actual pay: $141,406,941 | Listed pay: $28,320,175

4. Safra Catz - Oracle: Actual pay: $135,833,313 | Listed pay: $40,729,965

5. Robert Kotick - Activision Blizzard: Actual pay: $133,776,869 | Listed pay: $28,698,375

6. Sundar Pichai - Alphabet: Actual pay: $132,333,845 | Listed pay: $1,333,557

7. Marc Benioff -Salesforce: Actual pay: $116,268,714 | Listed pay: $4,653,362

8. Les Moonves - CBS: Actual pay: $114,909,266 | Listed pay: $69,351,540

9. Tim Cook - Apple: Actual pay: $102,016,266 | Listed pay: $12,825,066

10. Leonard Schleifer - Regeneron: Actual pay: $95,330,848 | Listed pay: $26,508,058

Despite President Trump's assertion this week that the European Union is "going to start, almost immediately, to buy a lot of soybeans," questions remain about exactly how much soy Europe will be purchasing, Reuters reports.

Why it matters: Soybeans have been a primary area of concern over Trump's escalating trade war, which seemed to calm this week when he struck a deal with European Commission president Jean-Claude Juncker to continue negotiations. German Agriculture Minister Julia Kloeckner said, per Reuters, that the quantity of soy imports to Europe hasn't yet been decided.

Market analysts are still skeptical about Under Armour's growth despite it exceeding revenue expectations for the quarter, and shares being up on the year by 40%, reports Market Watch.

The state of play: Despite its revenue success, the sports apparel company is still in the woods with operating costs after it took a hit in its investments from direct-to consumer costs and expansion outside of North America in the company's plan to restructure. The company's net losses reached 21 cents per share and they are expected to incur more costs in moving excess inventory.