Jul 12, 2018

Trade talks between China and U.S. halted as tariff battle escalates

Chinese President Xi Jinping delivering a speech. Photo: Sheng Jiapeng/Visual China Group via Getty Images

Trade talks between China and the United States have come to a halt following the Trump administration's announcement to move forward in the process of instating tariffs on $200 billion worth of Chinese goods, reports Bloomberg.

The big picture: An impasse makes it unlikely that the implementation of additional tariffs and retaliation between two of the world's largest economies will cease anytime soon.

The backdrop: The Trump administration could end up imposing $250 billion in tariffs to date against China if the most recent tariffs are approved next month. China's Commerce Ministry has said the tariffs are "totally unacceptable" and the country previously said it would respond dollar-for-dollar against the United States.

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The race to catch Nike's Vaporfly shoe before the 2020 Olympics

Illustration: Aïda Amer/Axios

Four months ago, on the very same weekend, Eliud Kipchoge became the first human to run a marathon in under two hours, and fellow Kenyan Brigid Kosgei shattered the women's marathon record.

Why it matters: Kipchoge and Kosgei were both wearing Nike's controversial Vaporfly sneakers, which many believed would be banned because of the performance boost provided by a carbon-fiber plate in the midsole that acted as a spring and saved the runner energy.

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Reassessing the global impact of the coronavirus

Illustration: Aïda Amer/Axios

Economists are rethinking projections about the broader economic consequences of the coronavirus outbreak after a surge of diagnoses and deaths outside Asia and an announcement from a top CDC official that Americans should be prepared for the virus to spread here.

What's happening: The coronavirus quickly went from an also-ran concern to the most talked-about issue at the National Association for Business Economics policy conference in Washington, D.C.

Tech can't remember what to do in a down market

Illustration: Rebecca Zisser/Axios

Wall Street's two-day-old coronavirus crash is a wakeup alarm for Silicon Valley.

The big picture: Tech has been booming for so long the industry barely remembers what a down market feels like — and most companies are ill-prepared for one.