Friday Scoop: Trade War! What is it Good for?
Welcome to the Morning Scoop for July 6, 2018. This morning, we’re discussing the US-China trade war, Scott Pruitt’s resignation, and the importance of the SAT.
Yesterday, our amazing team covered a black valedictorian denied the chance to give a commencement speech, whether or not your smartphone is spying on you, and just how much student loan debt is messing with your financial security.
US, China Officially in a Trade War
As promised, President Trump put into effect tariffs on $34 billion of annual imports from China at midnight. China immediately hit back with levy tariffs on US imports, according to China’s foreign ministry. They did not provide details on the size or scale of the tariffs.
According to CNBC, China’s Ministry of Commerce said Friday that while the Asian giant had refused to ‘fire the first shot,’ it was being forced to respond after the U.S. had ‘launched the largest trade war in economic history.’
Without going into the economic weeds on this one, stock markets in both the US and China could register an immediate impact, and the war will likely be felt sooner rather than later by US soybean farmers. Consumers in both countries could also see serious price increases in the coming months.
Scott Pruitt is Gone
After months of controversy regarding his spending, ethical lapses and management decisions, Scott Pruitt, former Oklahoma attorney general, resigned yesterday from his position as Administrator of the U.S. Environmental Protection Agency (EPA).
Priutt’s deputy, Andrew Wheeler, will take over in the interim. He is a former energy industry lobbyist.
Danielle Germain covered the news yesterday for CMN.
Princeton, Stanford Drop Requirements for SAT or ACT Essay Scores
Two iconic American universities have become the latest to drop requirements for applicants to submit scores from SAT or ACT tests.
The Washington Post reported that both schools will still encourage some sort of writing sample be submitted, with Princeton asking that applicants submit a graded sample from high school, ideally from english or history.
Many colleges have moved to drop standardized testing requirements, and in the Ivy League, only Brown still requires an SAT or ACT essay score.
Today in a Tweet
In trouble again…
Last But Not Least: Amazon Hits Toys-R-Us Fans With a Holiday Toy Catalog
One of the biggest heartbreaks for many Toys-R-Us fans was accepting the fact there would be no iconic holiday toy catalog, with their beloved friend Geoffrey The Giraffe.
Have no fear fans, because ironically enough, the people who tore down Toys-R-Us and what’s left of the brick-and-mortar competitors everywhere, is creating there own holiday toy catalog. Only 171 days until Christmas Amazon!
CMN Senior Correspondent Erin Whitten has more details in her report.
Wednesday’s Morning Scoop was made possible by Ginny Dang, id you just say it’s National Kissing Day? Yup!
