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
U.S. small business confidence increased to a five-month high in May with owners expecting a solid improvement in profits, which bodes well for the economy's prospects in the months ahead.
The National Federation of Independent Business said on Tuesday its Small Business Optimism Index rose 1.4 points to 98.3, the highest reading since December. About 616 businesses took part in the survey.
The upbeat confidence survey added to robust May employment and automobile sales reports that have suggested the economy was gaining momentum after a slow start to the second quarter. Gross domestic product contracted in the first quarter.
"It appears that the small business sector has finally attained a normal level of activity which will hopefully keep the economy moving forward," the NFIB said in a statement.
Eight of the index's 10 components rose last month. Sales expectations, which fell in April, declined again. Owners' views about spending on capital weakened slightly, while their attitudes toward increasing inventories were unchanged.
Despite the gloom about sales, business owners were quite bullish about earnings. A gauge of profits surged nine points in May, accounting for more than half of the gain in the index.
There was a solid increase in the number of owners who said now was a good time to expand and a marginal rise in those saying inventories were too low. More owners said they were experiencing difficulties finding workers for open positions.
Over 80 percent of those hiring or trying to hire in May reported few or no qualified applicants, a sign that the labor market is tightening rapidly.
The survey showed that while inflation pressures are mild, they have potential to pick up. The share of owners raising prices rose four points to 6 percent in May. About 17 percent of owners plan price hikes over the next few months.
On the other hand, businesses are raising wages for workers. Twenty-five percent of owners said they had increased compensation. About 14 percent plan to raise compensation in the coming months.
"The reported gains in compensation are still in the range typical of an economy with reasonable growth, and labor market conditions are tightening, which will put further upward pressure on compensation," the NFIB said.