BitGou: Thursday Morning Briefing: Trump pledges to keep tariffs on Chinese goods

U.S. Top News

President Trump said that China “broke the deal” it had reached in trade talks with the United States, and vowed not to back down on imposing new tariffs on Chinese imports unless Beijing “stops cheating our workers.” The U.S. Trade Representative’s office announced that tariffs on $200 billion worth of Chinese goods would increase to 25 percent from 10 percent on Friday. China's commerce ministry said it is fully prepared to defend its interests in its trade war with the United States, but hopes the U.S. can resolve problems through dialogue instead of unilateral steps. Here is a timeline detailing key moments in the souring trade relationship between the world’s two largest economies.

Senate intelligence panel subpoenas Trump's son. The Senate Intelligence Committee has subpoenaed one of the president’s sons, Donald Trump Jr., to answer questions about his contacts with Russia, two congressional sources said. The panel, which along with the Senate is controlled by Trump’s fellow Republicans, wants to question Trump Jr. about testimony he gave to the Senate Judiciary Committee in September 2017 which was subsequently contradicted in public testimony by former Trump attorney Michael Cohen.

Two students arrested in Colorado school shooting make first appearance. Two teenage students accused of fatally shooting one classmate and wounding eight in a suburban Denver school made separate court appearances on Wednesday, a day after their arrest on suspicion of murder and attempted murder. In two school shootings within eight days, students have attempted to tackle the shooters, sometimes at the cost of their own lives. At the University of North Carolina at Charlotte last week, Riley Howell, 21, was killed as he challenged a gunman in his classroom after school officials sent out an emergency alert with a mantra disseminated by U.S. law enforcement: “Run, Hide, Fight.”

House panel accuses Barr of contempt as Trump invokes executive privilege. A Democratic-led House panel approved a measure to hold Attorney General William Barr in contempt for refusing to hand over an unredacted copy of the Mueller report on Russian election interference even as President Donald Trump invoked the legal principle of executive privilege to block its disclosure.

“If you’re running against Bernie Sanders and Elizabeth Warren, you have to be anti-bank,” said Steven Maviglio, a California Democratic strategist who has advised two assembly speakers and a governor. In her presidential pitch to voters, U.S. Senator Kamala Harris touts as a signature accomplishment the $20 billion relief settlement she secured as California attorney general for homeowners hit hard by the foreclosure crisis. Consumer advocates praise Harris for demanding more money from the banks and for backing stronger protections for homeowners. But thousands of people still lost their homes after not getting the help they needed, advocates say.

Democratic presidential front-runner Joe Biden held the first of two high-dollar fundraisers in Los Angeles, which he opened to the press in a bid to counter criticism he is relying too heavily on the often closed-door events. Responding to potential concerns by voters in Democratic nominating primaries about big-money donations to his campaign, and who exactly is donating, Biden will provide limited media access to all of his fundraising events.

World

Venezuelan intelligence agents detained opposition leader Juan Guaido’s congressional deputy, using a tow truck to drag his vehicle away with him inside, prompting the U.S. government to warn of “consequences” if he was not released. The SEBIN intelligence agency seized Edgar Zambrano, vice president of the opposition-controlled National Assembly, which Guaido heads, in the first arrest of a lawmaker since Guaido tried to spark a military uprising last week to bring down President Nicolas Maduro’s government.

Early results suggest ruling ANC to retain power in South Africa. Early vote tallies suggest South Africa’s ANC party will retain power after an election on Wednesday, but analysts said its share of the vote could fall below 60 percent for the first time since the end of white minority rule. South Africans voting for a new parliament and nine provincial legislatures had expressed frustration at rampant corruption, high unemployment and racial inequalities that persist 25 years after Nelson Mandela’s former liberation party swept to power in the first all-race poll in 1994.

European countries said they wanted to preserve Iran’s nuclear deal and rejected “ultimatums” from Tehran, after Iran scaled back curbs on its nuclear program and threatened moves that might breach the pact. Iran announced steps on Wednesday to ease curbs on its nuclear program, in response to new U.S. sanctions imposed after Washington abandoned the deal a year ago.

Pope Francis issues sweeping decree holding bishops accountable for sex abuse or cover ups. A papal decree, which covers abuse of both children and adults, obliges every Catholic diocese in the world to set up simple and accessible reporting systems and encourages local churches to involve lay experts in investigations. The decree makes reporting obligatory for clerics, allowing anyone to complain directly to the Vatican if needed. It also sets time limits for local investigations and the Vatican’s response to them and allows for retroactive reporting.

Business

Huawei CFO to seek extradition stay citing Trump comments

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SoftBank Group unveils stock split, rakes in $3.8 billion gain on Uber stake

Japan’s SoftBank Group announced a stock split while keeping the per-share dividend unchanged for the year, effectively doubling its shareholder payout, as it also reported a $3.8 billion valuation gain on its stake in Uber.

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