Hot on the Bloomberg:
-China Defies Trump with Plans to Raise Tariffs on U.S. Products (Bloomberg)
-Stocks Tumble, Treasuries Rally on China Tariffs (Bloomberg)
Trade War Headlines:
-China Armed With Powerful Market Weapons in Duel With Trump (Bloomberg)
Currencies, Treasuries and soybeans seen as tools in China’s arsenal.
-Chinese State Media Blames U.S. for Setback in Trade Talks (Bloomberg)
-Goldman Sachs: Cost of Trump’s Tariffs has Fallen ‘Entirely’ on US Businesses and Households (Bloomberg)
Trump’s national economic director Larry Kudlow acknowledged this in a Sunday TV interview.
Gulf Tensions: Saudi Arabia Says Oil Tankers Attacked near UAE as Iran Tensions Rise (Bloomberg)
2016 Redux? Russia Is Targeting Europe’s Elections. So Are Far-Right Copycats. (New York Times)
Climate Today: American Swing Voters Want More Done on Climate Change (Axios)
Exchange News: Silicon Valley Startup Gets Approval to Form New Stock Exchange (Bloomberg)
Companies listing on the Long-Term Stock Exchange would give more voting power to long-term shareholders and wouldn’t be allowed to link executive pay to quarterly earnings.
NRA in Crisis: Leaked Letters Reveal Details of NRA Chief’s Alleged Spending (Wall Street Journal – subscription)
Wayne LaPierre expensed $39,000 in clothes in one day and $18,300 for a car and driver, the group’s ad agency says.
Architecture Today: Apple’s Tim Cook joins DC Mayor Muriel Bowser Green at Opening of Apple Carnegie Library in Washington (9to5 Mac)
Best of late night.
The best lines from Saturday Night Live’s Weekend Update:
On reports that Donald Trump lost more than $1B dollars over a decade:
“It turns out that Donald Trump may not be the financial genius that no one ever really thought he was.”
-Colin Jost, Weekend Update, SNL
“President Trump’s tax documents also show that his airline that he launched in 1989 lost $7 million a month until it shut down in 1992. And just to give you an idea of how bad his airline was, it lasted 33 years less than Spirit.”
— Michael Che, Weekend Update, SNL
On the subpoena of Donald Trump, Jr.:
“The Republican-led Senate Intelligence Committee has subpoenaed Donald Trump, Jr. to testify about his meeting with Russian officials. Because he didn’t want to get left out, Eric Trump got a subpoena from Detective Pikachu.”
— Colin Jost, Weekend Update, SNL
Mother’s Day Special: As host of Saturday Night Live, Emma Thompson portrayed a mother assuring her daughter of her ‘perfect’ skills as a mom. Watch: The Perfect Mother (SNL)