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Prepare to pay more for sushi

May 11, 2019
TicToc Tonight
Bloomberg

Greetings, TicToc readers! Friday's almost over. Here's what's happening:

But first...

U.S.-China trade war rages on

At 12:01 a.m., many of the items in American homes got more expensive—again. The U.S. boosted tariffs on $200 billion of Chinese imports to 25% from 10%, as the tit-for-tat trade war raged on. More than 90% of everyday U.S. consumer items are Chinese-made, and studies show American shoppers, especially sushi lovers and avid skiers, are footing the bill for the pricier goods.

More:

  • China's Commerce Ministry said it "deeply regrets" Trump's decision and Beijing "will have to take necessary countermeasures."
  • Trump tweeted Friday afternoon that talks with China, led by Vice Premier Liu He, have been "constructive" and will continue. Earlier, he said there's "no need to rush" a deal.
  • Economists say the U.S.'s tariffs and retaliatory ones from China hurt both countries and contributed to a global economic slowdown. 

Headlines from around the world

Uber shares opened at $42, under its IPO price of $45, giving the ride-hailing company a market valuation of $74 billion.

Robert Mueller won't testify before the House Judiciary Committee May 15, Chair Jerrold Nadler said, adding DOJ negotiations are ongoing.

South Africa's African National Congress won 57.3% of the votes cast in May 8 national elections, extending its quarter-century of political power.

Anna Sorokin, the fake German heiress who swindled New York's elite, was sentenced to 4-12 years in prison and thousands of dollars in fines.

Delta is facing a lot of criticism for a poster suggesting that workers should save up for video games instead of joining a union. 

Data of the day

America's "mammoni." While U.S. men have a ways to go to match the Italian lifestyle that refers to adults who still live with their parents, the latest data show 24% of young males, ages 23-27, live with their mothers. That overall number has grown over the past two decades amid housing-affordability challenges.

Lean back and watch

Had a bad experience at Newark airport? You're not alone. It's 2019's worst U.S. airport, this study says. Qatar and Japan airports ranked best.

The NBA wants in on gambling. As the playoffs heat up, casinos must sign deals to compensate the league directly for wagers placed on games.

Nike wants your shoes to fit, really. In light of 500,000 yearly size complaints, its new feet-scanning app lets buyers find a more accurate fit.

Listen to our podcast

The next Austin? Nashville, Tennessee, wants to be more affordable but no less hip than Austin, Denver and Portland, Oregon. It's one of many blue cities that have flourished in deeply conservative states, but a slew of anti-LGBTQ bills from Tennessee legislators may get in the way of its booming economic scene.

Listen to today's TicToc podcast with Jennifer Zabasajja and Bloomberg News Legal Reporter Erik Larson.

Don't miss this

Blue Moon. Jeff Bezos unveiled his rocket company Blue Origin's new lunar lander, saying it'll help get astronauts back to the moon by 2024.

Bummer. Cancel your trip back to the beach made famous in the movie "The Beach," because Thailand's keeping it closed for another two years.

Blink and you'll miss it. Japan began tests of the world's fastest bullet train, the Alfa-X, that's capable of speeds as fast as 249 mph.

Before you go

Rosé's perfect companion. File this under all the things you didn't know you needed. Meet the beach blazer. It's a half-tuxedo, half-towel concoction that solves the eternal summer conundrum: How do I dress formally, but also not wear pants. Every summer has its vice.

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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