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
The U.S. economy's manufacturing sector contracted further in December, according to an industry report released on Monday. The Institute for Supply Management (ISM) said its index of national factory activity fell to 48.2 from 48.6 the month before. The reading was just below expectations of 49 from a Reuters poll of 80 economists.
A reading above 50 indicates expansion in the manufacturing sector and a reading below 50 indicates contraction.
The employment index fell to 48.1 from 51.3 a month earlier. Expectations called for a reading of 50.
New orders climbed to 49.2 from 48.9. The prices paid index fell to 33.5 from 35.5, compared to expectations of 35.0.
Meanwhile, construction spending fell for the first time in nearly 1-1/2 years in November as a drop in nonresidential investment offset an increase in housing outlays, pointing to moderate economic growth in the fourth quarter.
Construction spending slipped 0.4 percent, the first and also biggest drop since June 2014, after a downwardly revised 0.3 percent gain in October, the Commerce Department said on Monday.
The government revised construction data from January 2005 through October 2015 because of a "processing error in the tabulation of data." The revisions, which showed construction spending was not as strong as previously reported for much of 2015, could prompt economists to lower their fourth-quarter gross domestic product estimates.
Growth estimates are currently hovering below a 2 percent annual pace. The economy expanded at a 2 percent rate in the third quarter. Economists polled by Reuters had forecast construction spending rising 0.6 percent in November after a previously reported 1.0 percent increase in October.
Construction outlays were up 10.5 percent compared to November of last year. Construction spending in November was held down by a 0.8 percent drop in nonresidential construction. Outlays on residential construction rose 0.2 percent.
Private construction spending slipped 0.2 percent, but spending on private residential construction rose 0.3 percent.
Public construction outlays declined 1.0 percent. Spending on state and local government construction projects, which is the largest portion of the public sector segment, slipped 0.4 percent. Federal government outlays tumbled 7.2 percent.