More to come: China watchers are predicting U.S. proposals to slap tariffs on $50 billion of Chinese imports might be the start. The Trump administration’s refined list of Chinese products to be hit with tariffs – set for release today – will focus on technologies where China wants to establish itself as a leader. (Bloomberg Politics)
Breaking News: Trump’s China Tariffs Met With Retaliation Threats From Beijing (Bloomberg)
Most Read on the Bloomberg Terminal (Last 8 Hours): Trump Said to Approve $50 Billion Tariffs as China Plans Payback
Losses in the domestic stock market: Shanghai Stocks Hit Lowest Since 2016 as Trump Tariff List Looms (Bloomberg)
Trade war could wipe out gains of GOP tax law, says Gary Cohn, former top Trump economic adviser (Washington Post)
China Daily Editorial: US should not shun global trade system Trump’s Tariff Threats Are Paralyzing American Business (Bloomberg)
Since Trump’s election, a coal plant has retired every 15 days, a win for former New York City Mayor Michael Bloomberg, who has injected $110 million into the ‘Beyond Coal’ campaign since 2011. (New Republic)
Bloomberg Had it First: Comey was ‘Insubordinate’ in Clinton Probe, but Free of Bias, Inspector General Finds
Crime Blotter: New York Attorney General Sues Trump Foundation After 2-Year Investigation (The New York Times)
Brussels to the fore: The EU Is Emerging as the New Sheriff for Global Financial Markets (Bloomberg Businessweek)
Pardon Me: Trump Insiders Seek Pardon for ‘Junk Bond King’ Michael Milken (Bloomberg)
Tweets of the day.
Politico’s @kyledcheney: IG found that on numerous occasions, COMEY used a personal GMail account to conduct official FBI business, according to source briefed on the report.
@HillaryClinton: But my emails.
This summer, in the heart of London, the Serpentine Galleries presents a major exhibition on the work of Christo and his wife Jeanne-Claude, which draws upon their use of barrels to create artworks. Simultaneously, Christo will present The Mastaba, a temporary floating sculpture on The Serpentine lake in Hyde Park (pictured above), which opens on June 18. Michael Bloomberg, Chairman of the Serpentine and a big supporter of the UK economy, will be there Monday with Christo to open the exhibit.
Opening this weekend at London’s V&A, a Bloomberg-supported museum: “Frida Kahlo: Making Her Self Up.” The Guardian previews it.
Headlines from around the world.
Best of late night.
On President Trump’s 72nd birthday yesterday:
“I’m told Trump had some cake, ate some ice cream, played some golf — then he remembered it was his birthday.”
“The State of Vermont is trying to get people to move into their state, and to sweeten the deal they’re now offering each new resident up to $10,000. This is great, because until now the most popular way to become a Vermont resident was through the witness protection program.”
“Microsoft is working on technology that removes the need for cashiers and checkout lines. This cutting-edge technology is known as shoplifting.”
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Reminder: Father’s Day takes place this Sunday, June 17th in many countries. Happy Father’s Day.