CNBC

China insists no tariff talks underway with Trump and Xi or top aides, despite U.S. claims

• “Let me make it clear one more time that China and the U.S. are not engaged in any consultation or negotiation on tariffs,” Chinese Foreign Ministry spokesman Guo Jiakun said at a press conference.

Treasury Secretary Bessent says it’s up to China to de-escalate trade tensions

• “I believe that it’s up to China to de-escalate, because they sell five times more to us than we sell to them, and so these 120%, 145% tariffs are unsustainable,” Bessent said during an interview on CNBC’s “Squawk Box.”

Temu adds ‘import charges’ of about 145% after Trump tariffs, more than doubling price of many items

• For example, a summer dress sold on Temu for $18.47 will cost $44.68 after $26.21 in import charges are added to the bill, a 142% surcharge

Donald Trump Jr. co-founds new private members club, Executive Branch, with a $500,000 fee

DOGE cuts could help Elon Musk companies avoid $2 billion in liabilities: Senate report

• The memo finds that as of Inauguration Day, Musk and his companies were facing at least 65 “actual or potential” actions from 11 federal agencies. Many of those threats are now neutralized.

International students are rethinking U.S. study plans amid visa policy shifts, experts say

Investing.com

Dow, S&P 500 gain on tariff deal hopes and into mega cap earnings

Reuters

DeepSeek available to download again in South Korea after suspension

IBM to invest $150 billion in US over next five years to aid quantum push

WSJ

Wall Street Banks Sell Final Slug of Elon Musk’s X Debt

• In the end, banks found a graceful exit from the $13 billion in financing that weighed on them for some two-and-a-half years.

U.S. Jet Fighter Is Lost Overboard in Latest Mishap Involving Aircraft Carrier

• A jet fighter fell off the aircraft carrier USS Harry S. Truman and sank Monday when the ship made a sharp turn

Spain, Portugal Hit by Sweeping Blackout

• Big power swings caused Spain’s system to disconnect from the European grid
• Europe’s highly connected power grid, designed to pool power between countries and increase resilience, can be a double-edged sword, he added. “This interconnectivity also means that disruptions can spread quickly across national borders,” Becerra said.