Today’s top news:

• President Donald Trump said he has no plans to reduce tariffs on Chinese goods in order to bring about negotiations.
• In the same interview, the president shut down speculation about serving a third term and named two best contenders to replace him in 2028.
• Experts say China’s economy is in a recession and that the U.S. tariffs could trigger a depression.
• Warren Buffett urged long-term investors not to be shaken by short-term swings and focus on fundamentals amid recent market volatility.

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