Just a few months ago, Xi Jinping seemed unstoppable. China's leader abolished presidential term limits, announced a sweeping government overhaul, and even managed to stop (or so it seemed at the time) a trade war. Now, some cracks are starting to appear. —David E. Rovella

Here are today's top stories

That trade war did end up starting, and it's escalating. China said it will retaliate against the U.S. by imposing 25 percent tariffs on an additional $16 billion worth of imports.

There's trouble brewing for Republicans in November if this Ohio special election is any measure of what's coming.

Democrats saw victory in a Missouri referendum that could signal a turning point for laws targeting organized labor's ability to raise money.

The U.S. announced new sanctions on Russia, saying it's determined that Vladimir Putin’s government used a nerve-agent to attack a former double agent and his daughter in the U.K.

Paul Manafort’s ex-accountant was fired from a Virginia firm after she testified at his criminal trial that she was aware his tax returns contained false information.

Tesla held talks last year about SoftBank potentially taking the electric carmaker private, a concept Elon Musk revealed Tuesday in dramatic fashion.

What's Lorcan Roche Kelly thinking? The Bloomberg markets reporter says there's a lot to be said for trading in markets with deep liquidity, but building a benchmark is no easy task.

What you'll need to know tomorrow

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What you'll want to read tonight

The Days of the Celebrity Chef May Be Coming to an End

The opening of Bouchon in Beverly Hills nine years ago was a star-studded affair, with Pierce Brosnan, Don Johnson and Jay Leno in attendance. Eater LA, the foodie website, gushed about chef Thomas Keller’s charcuterie and tartine—and the difficulty of getting a reservation. But those days may finally be over.

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