Apple Inc. has a backup plan if the U.S. trade war with China keeps escalating: say goodbye to Beijing. Taiwan-based Foxconn, the company’s primary manufacturing partner, said it has enough capacity to make all iPhones bound for America outside of China. —David E. Rovella

Here are today’s top stories

U.S. President Donald Trump makes lots of threats when it comes to China, but his latest is a real problem for President Xi Jinping. Trump pledged higher tariffs if Xi doesn’t meet him at the G-20. If Xi agrees, he looks weak at home. If he calls Trump’s bluff, it could mean a longer war.

Meanwhile, America is sending its coast guard to waters near China at a time when confrontations between China’s coast guard and foreign fishing fleets is increasingly common.

Hong Kong braced for strikes and more protests amid an escalating standoff over a law that would allow extraditions to mainland China.

Almost 30 years ago, China decided to make rare earths a strategic material, banning foreigners from mining them. It paved the way for the nation to pass the U.S. as the world’s leading producer.

India may have been painting a far rosier picture of its economic growth than the more modest reality of the past decade.

The U.S. is more vulnerable to economic damage from natural disasters than any other nation. While this hurricane season is supposed to be average, in America, average can still be catastrophic.

What’s Tracy Alloway thinking about? The Bloomberg executive editor says there’s a school of thought that, as the U.S. and China ratchet up trade tensions, supply chains will shift. Vietnam is thought to be a huge beneficiary of Trump’s trade war, with exports to the U.S. jumping in recent months. Though it’s unclear how much of that is actually Chinese goods being re-routed through Vietnam, a move by Hanoi to crack down may be a response to fears that it will be punished by Trump if it doesn’t.

What you’ll need to know tomorrow

Sponsored Content by PlanetM.

The next big thing in mobility is happening at PlanetM.Talented engineers, technicians and scientists are creating the latest mobility solutions right now. Find out where it’s taking shape.

What you’ll want to listen to tonight

The Shrink Next Door: ‘What Did I Do to You?’

Part 6: Phyllis Shapiro was visiting her daughter when her mobile phone rang. She had been bracing for this call for decades. Her brother, Marty Markowitz, hadn’t talked to her since the early 1980s, when he started seeing a Manhattan psychiatrist and severed ties with his family. Struggling to hear him, she wondered: Does Marty need a kidney? Is he dead? Soon it became clear. He wanted back into her life.

Like Bloomberg’s Evening Briefing? Subscribe to Bloomberg.com. You’ll get our unmatched global news coverage and two premium daily newsletters, The Bloomberg Open and The Bloomberg Close, and much, much more. See our limited-time introductory offer.

Bloomberg’s The Future of ETFs series returns this month across six European cities. Whether you’re employing active or passive strategies, knowledge of the exchange-traded funds market is vital in today’s uncertain environment. Request an invitation to join us in London, Paris, Zurich, Milan, Frankfurt, and Amsterdam.

Download the Bloomberg app: It’s available for iOS and Android.