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U.S. and China reach deal to expand U.S. natural gas exports

Alex Brandon / AP

The U.S. and China have agreed to "broad terms" on a plan which would expand U.S. natural gas exports to China, per the WSJ. It includes joint investment in infrastructure China needs to process the natural gas and also involves easier access to Chinese markets for U.S. agriculture and other products.

Why it matters: The agreement would give U.S. natural gas exporters easier access to a massive market at a time when China has been trying to stop burning so much coal and been turning to liquid gas imports.

On the agriculture side: U.S. exports of agricultural products to China totaled $21 billion in 2016 and China was America's second largest agricultural export market last year, per the U.S. Trade Rep, but imports of U.S. beef are currently banned.

What to watch for: A communiqué with more details is expected some time this month.

Ina Fried 4 hours ago
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Craigslist pulls personal ads after passage of sex-trafficking bill

Craigslist site
Craigslist site, with personals still listed as an option. Screenshot: Axios

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 6 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.