Axios

Now that I'm writing a weekly newsletter, I'm increasingly interested in how weekly news is valued.

The big picture: As media companies decline in profitability, they're increasingly being traded more as trophies than as businesses. Many billionaires expect a financial return on their media investments. But others, including Benioff, Jeff Bezos, Pierre Omidyar and Laurene Powell Jobs, do not.

We are now, officially, in a full-fledged trade war. Effective Monday morning, President Trump will be taxing half of China’s imports into the US, with aggressions set to intensify further in January when the tariff rises from 10% to 25%.

Trump's bigger-picture view is well-known: "TRADE IS BAD." That's all trade, not just trade with China. So be wary of rushing to the conclusion that Vietnam and other southeast Asian countries could end up being the winners in this trade war, as companies move their operations out of China. More realistically, as in most trade wars, there will be no winners at all.

China Daily, an English-language publication owned by the Chinese government, took out four pages of sponsored content in Sunday's Des Moines Register highlighting the negative effects of President Trump's trade war.

The big picture: This isn't the first time the state-owned China Daily has bought ad space in a U.S. publication. It has frequently done so in the New York Times and Washington Post, among others, but its shrewd targeting of the Des Moines Register appeals directly to America's heartland, which data suggests has the most to lose from from an extended trade war.

Wireless companies say one of the biggest hurdles to deploying super-fast 5G networks is negotiating with city officials to for permission to install antennas on city property like buildings, street lights, lamp posts and bus shelters.

The big picture: It took 30 years to erect 150,000 cell towers for 4G. 5G transmitters are smaller, but the networks will need five times that many in the next few years to achieve the speeds providers are promising.

The first businesses to invest in and take advantage of 5G will be heavy industries, not consumer brands.

The bottom line: 5G will boost a range of technologies, from transportation to virtual reality, but the initial impact will be on industrial and other business uses rather than consumer applications.

China officially canceled plans for upcoming trade negotiations with the U.S., the Wall Street Journal reports.

Why it matters: There were previous reports that Beijing would skip out on negotiations, but the most recent round of tariffs escalated tensions between the world’s two biggest economies.