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
Stocks dropped after Donald Trump ordered that U.S. manufacturers find alternatives to their operations in China.US Marketsread more
Federal Reserve Vice Chair Richard Clarida said Friday that the global economy has deteriorated in the past month.Marketsread more
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
"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
The final week of August could be highly volatile as markets fret over the economy and the latest developments in trade wars.Market Insiderread more
The death comes as federal and state health officials investigate a slew of lung illnesses in connection to e-cigarette use.Health and Scienceread more
Bank of England Governor Mark Carney says trade war has a confidence effect on business around the worldMarketsread more
Supreme Court Justice Ruth Bader Ginsburg has completed a three-week course of radiation therapy for cancer, the top court said in a statement Friday.Politicsread more
The U.S. has been demoted from a full democracy to a flawed democracy for the first time, according to the Economist Intelligence Unit (EIU).
Every year, the firm's Democracy Index provides a snapshot of global democracy by scoring countries on five categories: electoral process and pluralism; civil liberties; the functioning of government; political participation; and political culture. Nations are then classified under four types of governments: full democracy, flawed democracy, hybrid regime and authoritarian regime.
America's score fell to 7.98 last year from 8.05 in 2015, below the 8.00 threshold for a full democracy, the EIU announced in a report on Wednesday. That put the world's largest economy on the same footing as Italy, a country known for its fractious politics.
A flawed democracy is a country with free elections but weighed down by weak governance, an underdeveloped political culture and low levels of political participation, according to the EIU. Other flawed democracies in 2016 included Japan, France, Singapore, South Korea and India, the report said.
However, Washington can't point fingers at President Donald Trump for the nation's downgrade.
"The U.S. has been teetering on the brink of becoming a flawed democracy for several years, and even if there had been no presidential election in 2016, its score would have slipped below 8.00," the report explained. Instead, dwindling trust in government, elected representatives and political parties is to blame.
"Trust in political institutions is an essential component of well-functioning democracies. Yet surveys by Pew, Gallup and other polling agencies have confirmed that public confidence in government has slumped to historic lows in the U.S. This has had a corrosive effect on the quality of democracy," the report found.
As other developed countries experience a similar trust deficit, contemporary democracy is undergoing a crisis, the EIU said.
The increasing role played by non-elected technocrats, increased voter abstention and curbs on civil liberties are among the main symptoms of this global malaise, the EIU said, noting that almost half of the 167 countries covered by its index registered a decline in overall scores between 2006 and 2016.
Countries that scored between 4 to 5.9 on the index were classified as hybrid regimes, i.e. nations whose elections possess several irregularities. Examples on the EIU's list included Turkey, Thailand, Myanmar and Morocco.
Norway topped the EIU's list of full democracies last year, followed by Iceland, Sweden, New Zealand and Denmark; Canada and Ireland tied for sixth place. The U.K., which also experienced a volatile 2016 with its Brexit referendum, was ranked 16th amid a rise in popular engagement and membership of political parties.
Meanwhile, North Korea, Syria, Chad and the Central African Republic were among the EIU's authoritarian regimes.
—Follow CNBC International on and Facebook.