Greetings, TicToc readers! Monday's almost over. Here's what's happening: But first...  U.S. slaps back China, and so on...The U.S. prepared to hit China with more new tariffs after China retaliated with June 1 duties of its own, following earlier U.S. tariffs imposed by President Trump last week. The U.S. Trade Representative's office released a list of about $300 billion worth of Chinese goods, for which the administration intends to levy tariffs of up to 25%. Trump said he'll meet Chinese President Xi Jinping at next month's G-20 summit, More: - "We had a deal with China. It was 95% there, and then my representatives, Secretary Mnuchin and Bob Lighthizer went to China, and they were told the things that were fully agreed to were not agreed to. I said, 'Fine. Put on the tariffs,'" Trump said Monday.
U.S. stocks fell: The S&P 500 dropped the most in four months, the Dow closed down 617 points, a 2.38% slide, and the Nasdaq dipped 3.41% by the close.
More of today's headlinesSweden reopened a 2010 rape investigation and extradition request for WikiLeaks founder Julian Assange, complicating a U.S. extradition bid. Joe Biden won a South Carolina poll of 2020 Democrats with 46% of the vote, a key race given the state's large proportion of black voters. Felicity Huffman pleaded guilty in the college admissions scandal, admitting she paid $15,000 to have someone correct her daughter's SAT. President Trump met with Hungarian PM Viktor Orban, the far-right leader's first White House meeting with a U.S. president since 1998. Doris Day, the golden-voiced, sunny blonde film star of the 1950s and '60s died at age 97, after "contracting a serious case of pneumonia." Data of the dayRich is relative. How much money do you need to be wealthy in America? The exact amount can depend on how old you are.  Lean back and watchFeds are cracking down on student loans. So far this year, the U.S. collected $3.3 billion in delinquent debt, up from $2.9 billion in all of 2018. More colleges say glitter is litter. As commencement season heats up, grads are being told to skip the sparkle to save the environment. And balloons may not be safe either. Party City is closing 45 stores amid an ongoing global helium shortage. Listen to our podcastPaying the price for trade. Trump's own advisers have conceded that American consumers will pay for his global trade war. Still, there's bipartisan agreement in Washington that it's good politics to get tough on China. So what happens when those two things collide? Listen to today's TicToc podcast with Andrew Mach and Bloomberg News senior economics writer Shawn Donnan.  Don't miss thisCoral to the rescue. Scientists are breeding "super coral" that can survive climate change to help regenerate Australia's Great Barrier Reef. Engulfed in flames. Wildfires in Siberia have ravaged 45,000 hectares of a forest in the Trans-Baikal region near the world's oldest lake. A fish called Gollum. A new species of subterranean fish found in India was named for the Tolkien character after floods washed it to the surface.  Before you goHome of the future. As the weather gets wilder and weirder, there's more of a demand for homes that can survive climate change-driven extreme conditions. This is how conventional housing models are changing.  Thanks for reading! Watch your inbox for our next newsletter tomorrow. Until then, share TicToc Tonight with your friends.
-Andrew Mach | 
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