China Deeply Disappointed by U.S. Tariff Plan (China Daily)

China Crisis – Set your clocks to midnight: Trump Says China ‘Broke the Deal’ in Trade Talks With U.S. (Bloomberg)
“It’s difficult to make a high-confidence call. We think it’s likely the latest developments reflect an unusually messy and public final stage to negotiations. We can’t rule out the possibility something more serious has gone awry.” — Tom Orlik, Bloomberg’s chief economist

–Here Are the Numbers on What Trump’s Tariff Threat Will Affect (Bloomberg)

Anyone surprised Trump has created a constitutional crisis?
Balance of Power: Gloves Are Off in Democrats’ Battle With Trump (Bloomberg)
Donald Trump’s showdown with congressional Democrats looks increasingly like it’s careening toward a constitutional crisis.

Senate Intel Subpoenas Trump Jr. Over Russia Matters (Axios)
It’s the first known congressional subpoena of one of President Trump’s children, and sets up an unprecedented fight in the Trump era: A Republican committee chair pit against the Republican president’s eldest son.
–Tim O’Brien tweets: “This is going to freak out Papa Bear. Countdown to Trump lashing out/fuming/hitting back begins in 3,2,1…..”

Trump Faces Pressure From New York State Lawmakers Over His Tax Returns and Pardons (The New York Times)

Finance Today:
Weakest U.S. Bond Auction in Decade Validates Jamie Dimon’s Warning (Bloomberg)

IBM Brings Blockbuster Bond Deal as Market Defies Trade Drag (Bloomberg)

Bank Workers Who Survive Robot Uprising Stand to Make More Money (Bloomberg)

BlackRock Reversal on Banca Carige Rescue Hands a New Problem to Italy’s Coalition (Bloomberg)

Brexit Update: May Wins Reprieve From Tories After ‘Difficult’ Talks With Labour (Bloomberg)

What Mike Bloomberg is Tweeting about Climate Change (tweet): Poll: Climate Change is Top Issue for Registered Democrats (The Hill)

NRA Today: Is the NRA finally losing its power over America? (Independent, UK)

Tech Today: Op-Ed: It’s Time to Break Up Facebook (The New York Times)
Facebook co-founder Chris Hughes calls for the tech giant’s breakup: “I’m disappointed in myself and the early Facebook team for not thinking more about how the News Feed algorithm could change our culture, influence elections and empower nationalist leaders.”

Uber’s Long Road to an IPO Is Ending at a Less-Than-Ideal Moment (Bloomberg)

Best of late night.

Late-night hosts zeroed in on President Trump’s massive business losses between the years 1985 and 1994.

“He lost more than $100 million a year for a decade. He’s like a one-man Fyre Festival, this guy.” — Jimmy Kimmel

“Everything we thought we knew about Trump back then is a lie. Remember his cameo as the fancy rich guy in ‘Home Alone 2’? Now we know when he recorded that, he was so broke, he had to borrow money from the pigeon lady.” — Stephen Colbert

“The stock market suffered its worst day in four months yesterday due to increased economic tension with China and threats of a trade war. ‘Don’t worry, I know what I’m doing,’ said the guy who lost $1.2 billion.” — Seth Meyers

“Of course, Trump was never a successful businessman — he just played one on TV. Expecting Donald Trump to exhibit business acumen is like expecting George Clooney to do an arterial bypass.” — Seth Meyers

Watch Seth Meyers’ “A Closer Look” segment to Trump’s big L

Prince Harry and Meghan Markle revealed the new royal baby’s name on Wednesday: Archie Harrison Mountbatten-Windsor.

“I guess they’re hoping he will one day grow up to be a preppy in an ’80s movie.” — Seth Meyers

For more Best of Late Night from The New York Times, click here.