Your Evening Briefing

(Bloomberg) --

Good evening. President Donald Trump is losing confidence in both the upcoming summit with North Korea and ongoing trade talks with China. The power of American sanctions may be fading. And please don't buy pizza with bitcoin.

Here are today's top stories

Trump said there's "a very substantial chance" the planned summit with North Korea leader Kim Jong Un "won't work out." 

The president also said he's "not really" pleased with the progress of trade talks with China, as warring factions within his economic team argue about negotiating tactics.

China said it would slash tariffs on car imports. The White House decided to hold off on its own tariffs on Chinese goods, at least for the moment.

The power of U.S. sanctions may be nearing its limit. The world's reaction to Trump's Iran decision shows other nations increasingly dismissive of U.S. pressure.

Yes, the unemployment rate is the lowest its been in years, but a new Federal Reserve survey shows many Americans are just hanging on financially. 

Ten years after Fannie Mae and Freddie Mac were put under federal control, the government is no closer to figuring out what to do with them.

What's Joe Weisenthal thinking? The Bloomberg news director is interested in the idea of "mini-BOTs," which are basically an IOU being floated by Italy's new presumptive government. Analysts are overwhelmingly negative about the idea.

What you'll need to know tomorrow

What you'll want to read tonight

Chinese fentanyl is creating a new era of drug kingpins. The drug kills more people than any opioid, including prescription pills and heroin. It's also one of the world’s most profitable narcotics; so much so that it's changed global trafficking and policing.

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