Trump said he will raise tariffs on $250 billion in Chinese goods to 30% and hike duties on another $300 billion in products to 15%.Politicsread more
The European Union will respond in kind if the U.S. imposes tariffs on France over digital tax plan, EU chief Donald Tusk told G-7.Technologyread more
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The latest escalation in the trade war ups the odds the economy will fall into recession and that the Fed will aggressively cut rates.Market Insiderread more
Here are the products that stand to be the most affected by China's new tariffs on $75 billion worth of U.S. goods.Marketsread more
"We don't need China and, frankly, would be far better off without them," Trump tweeted.Politicsread more
Recent trade friction between the two Asian powerhouses has morphed into a dispute with political implications that go far beyond the region.Asia Politicsread more
"My only question is, who is our bigger enemy, Jay Powell or Chairman Xi?" Trump wrote amid a series of tweets that rattled markets Friday.Politicsread more
"I would love this to be clarified. We come to a deal on trade, boy, this market is up 10 to 15%, but without it's going to be worrisome," Jeremy Siegel says.Marketsread more
The Treasury Department could exhaust its cash by late fall if a new federal debt ceiling plan isn't put in place, according to a Congressional Budget Office report.
The government can no longer borrow normally after March 15 under a measure enacted last year to suspend the debt limit. It could borrow temporarily after the deadline through so-called extraordinary measures but would run out of money in October or November, the CBO said.
The agency stressed that the timeline is far from certain. However, it sets up a congressional vote on raising the debt ceiling before U.S. cash is exhausted and the government defaults on its obligations.
Debt limit deadlines have often proved contentious in the past. Congressional Republicans have used debt deadlines as leverage for spending cuts during President Barack Obama's tenure.
The most recent debt ceiling was $17.2 trillion and debt accumulated since last year's suspension brings the total to $18.1 trillion, the CBO said.
The Treasury Department did not immediately respond to CNBC's request for comment on the report.