Microsoft is working with Walmart on its efforts to buy TikTok's U.S. business from China's ByteDance, Axios has learned from multiple sources close to the process.
The state of play: The idea would be to helpturn TikTok U.S. into more of an e-commerce app for creators and users, much like what TikTok parent company ByteDance does with a similar app in China.
New Zealand's High Court sentenced the Australian white supremacist who admitted killing 51 people in two Christchurch mosques to life in prison with no parole.
Why it matters: Brenton Tarrant, 29, is the first person in New Zealand to receive the sentence. The 2019 attack is considered the worst in the country's history and one of the world's worst shootings by a single gunman. Prime Minister Jacinda Ardern said she'd been moved by the dozens of survivors who faced him in court to give victim impact statements this week.
The Department of Commerce on Wednesday blacklisted 24 Chinese firms for "helping the Chinese military construct and militarize the internationally condemned artificial islands in the South China Sea."
Why it matters: The move comes as the Trump administration continues to ramp up pressure on Beijing amid escalating tensions in the disputed region.
Secretary of State Mike Pompeo pressed Israeli Prime Minister Benjamin Netanyahu during their meeting in Jerusalem on Monday to further cool relations with China and limit Chinese investments in Israel over the new strategic partnership agreement China signed with Iran, Israeli and U.S. officials said.
Why it matters: The Trump administration has been lobbying Israel for two years to scale back its relations with China. Until now, those efforts have had very little success.
Total U.S. imports have risen in August after 10 straight months of declines, data from S&P Global shows, with U.S. imports by sea growing by 7% year over year in the first 15 days of the month.
Details: Imports from China surged 14.3% higher year over year in the first half of August after increasing by 4.3% in July, per Panjiva, the supply chain research unit of S&P Global Market Intelligence. Exports from the EU rose by 7.5% after falling 13.9% in July. Growth was not universal with shipments from Asia, excluding China, down by 4.6% due to a continued decline in imports from Japan.
To satisfy the conditions of the phase one U.S.-China trade deal, China is expected to purchase at least $200 billion more in U.S. exports combined in 2020 and 2021. Data shows that as of July they are more than 50% behind the pace of expected purchases.
By the numbers: So far, China's purchase of covered products was $39.3 billion, compared with a year-to-date target of $83.2 billion, Chad Bown, a fellow at the Peterson Institute for International Economics, notes.
