The Trump Administration Begins Hearings On Its China Tariffs.

The Trump administration begins hearings on its China tariffs. Up to 370 representatives of US companies are expected to testify on the toll that an additional $200 billion worth of tariffs on Chinese goods would take on business. Levies on $34 billion of imports from China went into effect in early July.

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Venezuwla Knocks Zeroes Off Its Banknotes.

Venezuela knocks zeroes off its banknotes. The new currency, known as the sovereign bolivar, will be anchored to Venezuela’s cryptocurrency, the petro. That implies a devaluation of more than 90%, and comes amid desperate moves to shore up the country’s shattered economy, including a 3,000% minimum-wage hike.

Reported By Zabs