Sep 6, 2018

China vows to retaliate as U.S. prepares $200 billion in tariffs

Workers unloading bags of chemicals at a port in Zhangjiagang in China's eastern Jiangsu province. Photo: Johannes Eisele/AFP/Getty Images

China's Ministry of Commerce has promised it will take "necessary countermeasures" if the Trump administration goes ahead with its latest round of tariffs, which would slap 25% duties on $200 billion of Chinese goods as soon as Friday, reports Reuters.

The big picture: The public comment period, which expires at 12:00 a.m. Friday, has seen hundreds of businesses and organizations speak out against the effects these tariffs would have on Americans, as they impact a greater cross-section of consumer goods than the $50 billion of China tariffs already in place. The tariffs could threaten 11 million U.S. jobs — most of which are concentrated in rural, deep-red parts of the country.

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Coronavirus kills 2 Diamond Princess passengers and South Korea sees first death

Data: The Center for Systems Science and Engineering at Johns Hopkins, the CDC, and China's Health Ministry. U.S. numbers include Americans extracted from Princess Cruise ship.

Two elderly Diamond Princess passengers have been killed by the novel coronavirus — the first deaths confirmed among the more than 600 infected aboard the cruise ship. South Korea also announced its first death Thursday.

The big picture: COVID-19 has now killed more than 2,200 people and infected over 75,465 others, mostly in mainland China, where the National Health Commission announced 118 new deaths since Thursday.

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SoftBank to cut its stake to get T-Mobile's Sprint deal done

Illustration: Rebecca Zisser/Axios

T-Mobile and Sprint announced a revised merger agreement that will see SoftBank getting a smaller share of the combined company, while most shareholders will receive the previously agreed upon exchange rate. The companies said they hope to get the deal as early as April 1.

Why it matters: The amended deal reflects the decline in Sprint's business, while leaving most shareholders' stake intact and removing another hurdle to the deal's closure.