President Donald Trump said on Monday that China is ready to come back to the negotiating table and the two countries will start talking very seriously.Politicsread more
The escalating trade war between Washington and Beijing dominated discussions at the G-7 gathering in France.Politicsread more
China's state media is putting up a brave front as the country's trade war with the U.S. escalated sharply over the weekend.China Economyread more
The latest round of tariff announcements in the last few days means that by the end of the year, essentially all Chinese goods exported to the U.S. will be subject to duties.China Economyread more
U.S. stock futures surged Monday morning after President Trump said China is ready to come back to the negotiating table following a phone call Sunday and the two countries...Marketsread more
As Washington and Beijing continue to up the ante in their protracted trade fight, the potential of a recession in the U.S. is now "the biggest concern," according to Standard...US Economyread more
Tensions stemming from the U.S.-China trade war escalated sharply over the last few days, with much happening as Asian markets were shut down for the weekend.China Economyread more
Clouding the G-7 gathering, which represents the world's major industrial economies, are the tit-for-tat tariffs between Washington and Beijing.Politicsread more
Neither the U.S. nor China wants to be seen as the party that derailed trade talks, says William Reinsch of Center for Strategic and International Studies.World Economyread more
China said Friday it will be resuming 25% duties on U.S. autos, and a further 5% on auto parts and components.Asia Marketsread more
World leaders, environmental groups and celebrities have publicly decried the vast swaths of forest being destroyed by the fires.World Newsread more
Former Treasury Secretary Lawrence Summers told CNBC on Wednesday that Obamacare has already yielded benefits to the economy. He also said the Federal Reserve should concentrate on pushing the economy to expand.
"If you look at the medium run and the long run, the important thing that's happened for growth is, that in the last three years since Obamacare was passed, we have bent the [cost] curve on health-care costs," he said in a "Squawk Box " interview.
(Read more: Obamacare buyers: Young, female, with pricey taste)
The problems with the federal health insurance website HealthCare.gov have been "exciting theater" for the media, the former Obama advisor said. "Getting it right is obviously going to be important to fully getting the benefits of Obamacare."
But he said that health-care reform has cut costs as a percentage of GDP. "That offers huge promise with respect to the future of the federal deficit, which looks much less serious than it did even a couple of years ago."
(Read more: What to expect in the Yellen hearing: El-Erian)
Summers had been a leading candidate to take succeed Ben Bernanke as chairman of the Fed, until President Barack Obama chose Fed Vice Chair Janet Yellen for the top post. Her confirmation hearing is scheduled for Thursday. "I think Janet Yellen will do a great job at the Fed," he predicted.
When the subject of the Fed's $85 billion monthly bond purchases came up, Summers wouldn't comment on whether the central bank should taper or not, but he did say that the central bank's "primary policy emphasis needs to be on spurring growth going forward."
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He argued that there have been some profoundly positive things going on in the economy, but "we haven't caught up the economy's potential."
He also said the energy boom in the U.S. has also been greatly beneficial to economic growth. "We're going to be a net exporter of energy five years from now. That would have been inconceivable at the beginning of the president's term."