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Facebook is changing its video ads to go after YouTube

Facebook will start showing ads after 20-seconds in videos and share the money with publishers, according to Recode. For now, Facebook will sell the ads and share 55% of revenues with the people who supply the videos — the same policy as YouTube.

Why this matters: In 2016, users were watching 100 million hours of Facebook videos per day, but most video publishers saw little ad revenue from their clips on Facebook thanks to Facebook's ban on "pre-roll" ads. His stance discouraged some publishers from sharing valuable content on Facebook.

Winners: Facebook users because publishers will put their most valuable content on Facebook. Publishers will make more money off Facebook videos if they can hold viewer attention.

Loser: YouTube.

Ina Fried 59 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.