Hundreds of American businesses have testified in hearings hosted by the Office of the U.S. Trade Representative, hoping to shed light on the damaging effect tariffs on Chinese goods will have on the average American consumer.
The big picture: From "cradles to coffins," the 25% tariffs proposed by the Trump administration on $200 billion worth of Chinese goods will raise prices on a wide range of everyday items. And, many industry representatives argued, they will do little to curb China's unfair trade practices.
Taylor Swift's contract with Big Machine Records is set to expire in November, likely thrusting the world's biggest artist into an industry bidding war with hundreds of millions of dollars at stake.
The big picture: Major recording labels are hungry for a win — and Swift is one of music's only sure things. But a deal won't just involve her future earnings, it'll have to consider the eye-watering value of her past recordings, too. Given that she's at the top of her game, she's in position to pull off "the biggest artist deal of the century," per Variety.
The NFL will be pushing its audience to a different viewing experience this year as it ups its presence on mobile devices using Yahoo's Tumblr and Amazon's Twitch to broadcast games, reports NBC News.
The big picture: The NFL's plan to go digital started weeks ago when the league launched a revamped version of NFL.com equipped with both streaming and social updates. Routing its audience to other mobile platforms is the league's next step.
President Trump told reporters he was not offering Canada any concessions in NAFTA negotiations but couldn't say so publicly because it would kill the deal, he confirmed in a tweet which featured an accusation that Bloomberg had "BLATANTLY VIOLATED" an agreement that the remark was off-the-record.
The backstory: The Toronto Star's Daniel Dale first reported on the comment, and the fact that Canadian negotiators had confronted their U.S. counterparts over it. It's unclear how he found out about it. Bloomberg said in a statement: "When we agree that something is off the record, we respect that."
Ford will not ship its Focus model from China to the U.S. because it would be too expensive given the tariffs imposed in July, the Wall Street Journal reports — the company's stock fell more than 2% following the announcement.
Why it matters: Ford, which has been criticized by President Trump for shifting production to plants outside of the United States, is one of the first in the auto industry to link a substantial business decision directly to effects of the trade war. The automaker initially planned to ship a newer version of the compact car from its production site in China starting next year.
Canadian officials have confronted President Trump's NAFTA negotiating team over an off the record remark in which Trump reportedly said he was not making any concessions to Canada, but couldn't say so publicly because it would kill the deal, the Toronto Star's Daniel Dale reports.
Behind the scenes: Trump reportedly told Bloomberg that making such a statement publicly would be "so insulting" that "they’re not going to be able to make a deal... I can’t kill these people." The purported statement was made off the record, but Dale was not party to that agreement.
A senior official from the State Council's Development Research Center is arguing that President Trump's trade war is part of a broader plan to contain China.
Driving the news: The U.S. is expected to impose tariffs on another $200 billion of Chinese imports as soon as next week, Bloomberg reported yesterday, with no denial from Trump.
SEC chairman Jay Clayton wants to make it easier for retail investors to put money into private companies.
Be smart: Investing is hard, and people without millions of dollars are never going to be good at it. They should invest in broad indices, rather than individual private or even public companies.
Steve Hilton, host of Fox News' "The Next Revolution" (Sundays @ 9 p.m.), will be out Tuesday with "Positive Populism: Revolutionary Ideas to Rebuild Economic Security, Family, and Community in America."
The book is a must-read for the Trump era, as Hilton works to make sense of the growing tide of populism in America — through a positive lens: "[T]here is a dark shadow overhanging the populist awakening. ... So let’s not appeal to people’s worst impulses rather than their best. Let’s not unite people in fear and anger. Let’s bring them together for greater purpose."
