The Dow Jones Industrial Average plunged more than 500 points by noon Thursday ahead of President Trump's announcement of new China-specific tariffs. Trump said the tariffs "could be about $60 billion" and come in response to complaints that Chinese companies "force U.S. companies operating in the country to transfer technology and intellectual property rights to local business partners," CNBC writes.

Supporters of the tariffs, like White House adviser Peter Navarro, argue they combat China's "forced transfer of intellectual property." China has responded by threatening Trump-friendly Farm Belt states with retaliatory tariffs that would target American soybean, sorghum, and live hog exports.

"This is the first of many," Trump vowed as he signed the memorandum. Watch some of the president's comments below. Jeva Lange

Fox News' Tucker Carlson really doesn't like Sen. Elizabeth Warren's (D-Mass.) child-care plan, but for a fairly unexpected reason.

The Democratic candidate for president in 2020 on Tuesday had unveiled a new child-care proposal, explaining that the federal government would "partner with local providers ... to create a network of child-care options that would be available to every family." Access would be free for families who make less than 200 percent of the income determined as the federal poverty line, while families who make more would pay no more than 7 percent of their income for child-care.

Carlson, let's just say, was no fan of this idea, going after it Wednesday night by dismissing it as a "daycare scheme" and claiming that Warren is arguing that "the American dream is not raising your own children. The American dream is outsourcing their upbringing to government caretakers while their parents scurry back to work as good little servants of globalized market capitalism."

Carlson concluded that "the need for government daycare specialists will no doubt be used to justify more immigration" and that Democrats have decided to "outsource parenting." Watch the clip below, via Media Matters. Brendan Morrow

Apple is looking for another route into your wallet.

After facing pretty slow adoption of its Apple Pay system, Apple has teamed up with Goldman Sachs to create an iPhone-linked credit card, The Wall Street Journal reports. Employees will test the cards within the next few weeks, and it'll be available to the public later this year, the Journal says.

iPhone sales have slowed recently, possibly as customers start to realize Apple is charging more and more for a barely changed product. So along with its forays into Hollywood, news curation, and music streaming, Apple is "turning to fee-generating services" to hopefully make an additional $50 billion by 2020, the Journal says.

Meanwhile, mega-bank Goldman Sachs is trying to recoup losses in securities trading with its new online consumer bank Marcus, the Journal says. Still, it hasn't exactly caught on with average consumers — something the bank is seemingly trying to correct with this reported Apple collaboration. Goldman Sachs has never issued a credit card before, so it's reportedly designated $200 million to build its own payment system. It's also building "customer-support call centers around the country," sources tell the Journal.

The so-called Apple Pay card will be on MasterCard's payment network, and customers will reportedly earn about 2 percent cash back, per the Journal. That percentage could be higher on Apple product purchases, some sources said. It'll all reportedly be integrated with the iPhone's Wallet app, allowing users to "set spending goals, track their rewards, and manage their balances," the Journal continues. Read more at The Wall Street Journal. Kathryn Krawczyk

Secretary of State Mike Pompeo is running ... away from the possibility of a 2020 Senate bid.

In an interview with Today on Thursday, Pompeo was asked about speculation that he'll run for Senate in Kansas next year. Sen. Pat Roberts (R-Kan.) has announced he will not seek another term in 2020, and Politico reported last month that Pompeo was meeting with a Republican strategist to discuss possibly running for the open seat. The Washington Post had previously reported that Senate Majority Leader Mitch McConnell (R-Ky.) has "personally courted" Pompeo to run.

When asked about this speculation Thursday, Pompeo at first simply said that he loves Kansas and that he would serve as secretary of state as long as "President Trump gives me the opportunity." When asked if that means he has no interest in being a senator, Pompeo said, "I love doing what I'm doing."

None of this seemed to be a definitive no, so when Today's Craig Melvin observed, "Sounds like you're not ruling it out," Pompeo finally said, "It's ruled out. I'm here. I'm loving it." Watch the clip below. Brendan Morrow

Two polls Wednesday found that a plurality of Virginia voters don't think Gov. Ralph Northam (D) should resign over his revelation that he dressed in blackface once in 1984, after a photo of a man in blackface standing next to a man in a KKK robe was found on his 1984 medical school yearbook page. In Quinnipiac's poll, 56 percent of black voters opposed Northam's resignation. There are several possible explanations for Northam's apparent political survival, but one of them is that blatantly racist yearbook photos were shockingly common in the 1970s and 1980s, USA Today found.

In a review of 900 yearbooks from 120 universities and colleges in 25 states in the '70s and '80s, USA Today found "students saluting in Nazi uniforms on Halloween or wearing orange paint and a headdress to depict a stereotype of a Native American on game day," a swastika banner, and photos of "'slave sale' fundraisers that auctioned off young women, 'plantation parties,' and a 'sharecroppers ball,'" the newspaper said. "But the vast majority of the offensive material show racist imagery, such as students in blackface or KKK robes," sometimes including nooses and mock lynchings.

"The volume of shocking imagery found in the examination, which was not comprehensive, suggests that there are likely more yearbooks that recorded racism on campuses nationwide — and countless more acts never captured on camera or submitted for publication," USA Today notes. Experts called this a systemwide failure at universities, and Andre M. Perry at the Brookings Institute had a theory. "The way to fit in, sadly, is to make fun of black people," he told USA Today. "It's a unifying act. It's sad but racism pulls people, particularly white people, together." You can read more at USA Today. Peter Weber

Fox News host Tucker Carlson is apologizing for a recently leaked expletive-laden rant, but not for the sentiment behind it.

Carlson on his show Wednesday responded to a viral video showing an unaired interview he conducted with historian Rutger Bregman, which went south when Bregman suggested Carlson's opinions were being influenced by Fox News executive chairman Rupert Murdoch and that he is a "millionaire funded by billionaires." This prompted Carlson to call him a "tiny brain" and a "moron" and telling him to "go f--k yourself."

Carlson said Wednesday that it was "too much" when Bregman suggested his "corporate masters tell me what to say." So, Carlson said, he "did what I try never to do on this show: I was rude." At the same time, Carlson argued what he said was "entirely accurate" and that the only reason the interview didn't air was that he cursed during it. He even encouraged viewers to go watch the clip.

"There is some profanity, and I apologize for that," he said. "On the other hand, it was genuinely heartfelt. I meant it with total sincerity." Watch Carlson's response below. Brendan Morrow

Director Jason Reitman says some recent comments of his, which set off a firestorm Wednesday, simply came out the wrong way.

Reitman said in a podcast interview that his upcoming reboot of Ghostbusters will "hand the movie back to the fans." This drew instant derision on Twitter, as his statement made it sound like the 2016 all-female reboot had taken the series away from devotees, or that the misogynistic trolls who were so violently opposed to it were the true fans.

The director has now taken to Twitter to clarify that he has "nothing but admiration" for the 2016 reboot.

Reitman's "back to the fans" comment came as he was discussing ways of recreating the style of the original film, such as using the 1984 movie's score and logo for the recent teaser. He said the 2020 version will be a "love letter" to the original.

This upcoming Ghostbusterswill ignore the 2016 version, as it takes place in the universe of the first two films. Reitman previously expressed his admiration for the 2016 reboot and explained that it won't be factored into his movie simply because he wants it to be a sequel to the originals. But the decision has sparked criticism, including from actress Leslie Jones, who has called the movie "so insulting" and "like something Trump would do."

Reitman's Ghostbusters hits theaters on July 10, 2020. Brendan Morrow