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Trump Says U.S. Will Hit China With More Tariffs President Trump, frustrated by increasingly fruitless negotiations with China, said Thursday that the United States would impose a 10 percent tariff on an additional $300 billion worth of Chinese imports next month, a significant escalation in a trade war that has dragged on for more than a year -Politico

Trump's pick for top envoy to the U.N. gets Senate approval The U.S. Senate on Wednesday confirmed Ambassador to Canada Kelly Craft to become the top American envoy to the United Nations, despite criticism from some Democrats that she lacks the experience needed for the key diplomatic position and was routinely absent from her post in Ottawa. -Politico

Trump says working on free trade deal with Brazil -AFP

The Republican Exodus From Congress Eight Republican House members have announced their retirement this year, with more predicted to follow. What’s going on? -NYT

GLOBAL BUSINESS

The U.S. Might Sanction a Russian Pipeline to Germany. That’s a Terrible Idea. -Politico

Against the Republican Daddy State On Tuesday, Senator Josh Hawley introduced his second proposed regulation of social media in as many months. In June, he introduced a bill to regulate political speech on large social-media platforms. In July, he followed it up with the “SMART Act,” a bill designed to curb allegedly addictive features contained in popular applications such as Twitter, Snapchat, and YouTube. -The National Review

Apple Suspends Listening to Siri Queries Amid Privacy Outcry -Bloomberg

U.S.-China Trade War May Finally Be Coming for Apple The iPhone maker has said little publicly about its potential hit or what steps it might take to mitigate the impact. -Bloomberg

Trump Administration Weighs Allowing Drug Imports for Cheaper Prescriptions The proposal was announced between two Democratic debates, seemingly timed to show that President Trump was also trying to tackle the highly populist issue of soaring drug prices -NYT

Pentagon puts $10 billion JEDI contract on hold after Trump suggests it favored Amazon The Pentagon has decided to put on hold its decision to award a $10 billion cloud computing contract after President Donald Trump said his administration was examining Amazon.com Inc’s (AMZN.O) bid following complaints from other tech companies. -Reuters

Cuba Expands Internet Access to Private Homes and Businesses -NYT

GLOBAL MACRO

Global stocks pummeled by Trump's tariffs, safe-havens surge Global stocks are set to take another beating on Friday after U.S. President Donald Trump said he would slap a 10% tariff on the remaining $300 billion of Chinese imports from next month. -Reuters

A $600 Billion Bill: Counting the Global Cost of the U.S.-China Trade War Bloomberg economists Dan Hanson and Tom Orlik have mapped out the main scenarios. Their headline conclusion: If tariffs expand to cover all U.S.-China trade, and markets slump in response, global GDP will take a $600 billion hit in 2021, the year of peak impact. -Bloomberg

5 Smart Reasons to Tax Foreign Capital A bipartisan bill that would create a trade-balancing exchange rate for the dollar also aims to reduce foreign purchases of certain U.S. assets. -Bloomberg

Mexico's dependence on U.S. demand spells trouble for weak economy -Reuters

Will Bolsonaro's Free-Market Revolution Succeed? The first seven months of Brazilian President Bolsonaro have been driven by the idea that only free-market reforms and innovation can bring Brazil back on track after more of a decade of corrupted socialist governments led by Brazilian Workers' Party. -Forbes