What do you think? Leave a respectful comment.

News Wrap: Trump, Beijing exchange more threats on trade

In our news wrap Friday, China and the U.S. exchanged jabs over trade, with Beijing warning it will retaliate if President Trump imposes 10 percent tariffs on all of China’s remaining trade with the U.S. -- about $300 billion in goods. Also, Trump offered fresh praise for North Korean leader Kim Jong Un, despite a string of short-range missile tests launched by the country in the past week.

Read the Full Transcript

  • Judy Woodruff:

    In the day's other news: The U.S. economy turned in another solid month of job creation, despite rising trade tensions. The Labor Department reported today that employers added a net 164,000 jobs in July. The unemployment rate remained at 3.7 percent, unchanged from June and near a 50-year low. And average hourly wages rose 3.2 percent from one year earlier.

    China and the U.S. traded hard-line jabs today over tariffs. Beijing warned that it will retaliate if President Trump imposes 10 percent levies on all of China's remaining trade with the U.S. That comes to about $300 billion worth of goods. But Mr. Trump said that China holds the key to whether the tariffs take effect on September 1, as planned.

  • President Donald Trump:

    China has to do a lot of things to turn it around, but you will be seeing. They have got to do a lot of things. It goes on, on September 1. And, frankly, if they don't do them, I can always increase it very substantially.

  • Judy Woodruff:

    White House economic adviser Larry Kudlow argued today that the new tariffs will have only minimal effects on American consumers.

    President Trump is offering fresh praise of North Korea's leader, Kim Jong-un, despite a string of short-range missile tests. In a series of tweets today, the president said — quote — "Chairman Kim doesn't want to disappoint me with a violation of trust."

    North Korea's latest launch came early today. But Mr. Trump said That short-range weapons were not part of Kim's commitment to him at their Singapore summit last year.

    The United States and Russia formally quit a landmark Cold War deal today, the Intermediate-Range Nuclear Forces Treaty. It was signed by President Reagan and Soviet leader Mikhail Gorbachev in 1987, and it banned mid-range land-based missiles, both nuclear and conventional.

    Washington blamed Moscow for violating the agreement, and, in Brussels today, the NATO secretary-general backed up that claim.

  • Jens Stoltenberg:

    The new Russian missiles are nuclear-capable, mobile and hard to detect. They can reach European cities with only minutes of warning time. This decision is supported by all NATO allies, because no international agreement is effective if it's only respected by one side.

  • Judy Woodruff:

    Russia denied any violations, and warned That the demise of the treaty is dismantling the existing arms control system.

    In Syria, the government agreed to a cease-fire in Idlib province, after three months of intensive bombardment. Idlib is the last rebel stronghold in Syria, and the government offensive there had killed than 400 civilians. One al-Qaida-linked group said the regime called the truce because its military drive had stalled.

    Saudi Arabia loosened a range of restrictions on women today. The reforms will allow women for the first time to apply to travel freely, without a male guardian's permission. The royal decrees also grant women the right to register a childbirth, marriage or divorce, among other things. The changes take effect at the end of August.

    Back in this country, a New York City police judge recommended firing the officer who was accused of fatally choking Eric Garner in 2014. Daniel Pantaleo denied using a banned choke hold, but Garner's pleas of "I can't breathe" became a rallying cry at protests around the country.

    His daughter spoke today after hearing the judge's recommendation.

  • Emerald Garner:

    I think I'm feeling the same way my entire family is feeling, which is, it's been too long. We have been waiting for five years for someone to say that he did something wrong. And they finally made that decision today.

  • Judy Woodruff:

    A state grand jury declined to indict Pantaleo in December 2014. And just last month, federal prosecutors chose not to bring civil rights charges.

    Police Commissioner James O'Neill has the final say on whether he is terminated.

    R&B singer R. Kelly pleaded not guilty today to sexual abuse charges in New York. The 52-year-old was denied bail at a federal court hearing. He is accused of luring young women and girls into illegal sexual activity. Kelly also faces child pornography charges in a separate case in Chicago.

    More than half the Democrats in the U.S. House of Representatives now favor starting the process of impeaching President Trump. The Associated Press and others reported today that the count has reached 118 out of 235 Democrats overall. House Speaker Nancy Pelosi has said any decision about pursuing impeachment must wait until various investigations are finished.

    The only black Republican in the House, Will Hurd of Texas, will not seek reelection next year. He is the sixth GOP congressman to call it quits in just over a week and the ninth overall. Last month, Hurd was just — one of just four Republicans who voted to condemn some of President Trump's recent remarks as racist.

    And on Wall Street, stocks finished their worst week of the year, amid worries about the trade war with China. The Dow Jones industrial average lost 98 points to close at 26485. The Nasdaq fell 107 points, and the S&P 500 slipped 21. For the week, the Dow lost 2.5 percent, the S&P 500 dropped 3 percent, and the Nasdaq fell nearly 4 percent.

Listen to this Segment