2. The U.S. economy added 164,000 jobs in July, as hiring continued at a steady clip despite a trade war with China and a global slowdown.

But there are signs that headwinds may be taking a toll: There is a major slowdown underway in jobs that actually make things, like manufacturing, mining and construction. The trade war is probably part of it, both directly and indirectly, our Upshot correspondent writes. Above, a drilling crew member on an oil rig near Wink, Tex.

As China considers how to hit back at President Trump, who announced more tariffs this week, it has increasingly acknowledged that it must first address a significant obstacle — its own slumping economy.