President Donald Trump will impose 10 percent tariffs on $200 billion worth of Chinese imports, and those duties will rise to 25 percent at the end of the year. The action heightens the conflict between the world's two largest economies. (CNBC)
In response, China's commerce ministry said today it has no choice but to retaliate against the latest round of U.S. tariffs in order to safeguard its rights and interest in a free trade world. China also said the U.S. has not been "sincere." (CNBC)
The Apple (AAPL) Watch and various other consumer gadgets are being exempted from the newest round of tariffs on goods imported from China. Some Apple products, including the MacMini, will still be affected. (CNBC)
* iPhone Xs and iPhone Xs Max review (CNBC)
Macy's (M) CEO Jeffrey Gennette told Recode's Code Commerce event that tariffs will start to effect Macy's and other department stores more significantly than other businesses because of their impact on apparel.
The Senate Judiciary Committee will hold a public hearing next Monday, at which Supreme Court nominee Brett Kavanaugh and a woman who alleges that he sexually assaulted her will have the opportunity to testify under oath. (CNBC)
* Trump on Kavanaugh: 'If it takes a little delay,' that's OK (CNBC)
Rising flood waters threatened communities across the Carolinas today and forecasters warned heavy rains could cause flashing flooding. Florence menaced the U.S. Northeast with heavy rains and tornadoes after killing at least 32 people. (Reuters)
White House economic advisor Larry Kudlow doubts Republicans can push another round of tax cuts through Congress before November's midterm elections. Even if the House GOP passes a tax bill, it is unlikely to get through the Senate. (CNBC)
Gary Cohn, the White House's former top economic advisor, told Reuters that Jamie Dimon would make a "phenomenal president" days after the J.P. Morgan Chase (JPM) chief executive said he could beat Trump in an election.
Amazon (AMZN) plans to release at least eight new Alexa-related products before the end of the year, according to sources who spoke to CNBC. The devices include microwave ovens and an in-car gadget, with full details to be released later this month.
Japanese billionaire Yusaku Maezawa put down a significant deposit with SpaceX to become the first ever private tourist to fly around the moon on the company's Big Falcon Rocket. The mission is expected to launch in 2023. (CNBC)
* Space junk is a big problem and it's going to get worse (CNBC)
Kimbal Musk, brother of Elon Musk and Tesla board member, said the CEO is working hard for shareholders and the company's focus remains on delivering the Model 3. Tesla has struggled with nearly chronic production and delivery delays. (CNBC)