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
China said on Saturday it strongly opposes Washington's decision to levy additional tariffs on $550 billion worth of Chinese goods and warned the United States of consequences...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
Stocks dropped after Donald Trump ordered that U.S. manufacturers find alternatives to their operations in China.US Marketsread 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
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
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
Oil slumped to a two-week low on Wednesday, after U.S. data showed a smaller-than-expected drop in overall crude stocks and a surprising build in gasoline inventories, which raised worries about excessively high global supply.
U.S. crude futures settled down $1.97 to $50.44 a barrel, a 3.8 percent drop, the worst-one day decline since March 8, as investors bailed out of long positions in response to the bearish inventory figures.
U.S. crude stocks fell 1 million barrels in the latest week, according to the U.S. Energy Information Administration, less than anticipated. Gasoline stocks posted a counter-seasonal build of 1.5 million barrels, despite heavier refining activity.
The surprise build in gasoline, along with an increase in U.S. production and imports from OPEC nations, pressured prices.
A global crude glut has persisted even as the Organization of the Petroleum Exporting Countries and other producing countries have worked to reduce output under an agreement to cut supplies almost 1.8 million barrels per day in the first half of 2017.
U.S. stockpiles and production have cast doubt on whether the OPEC cuts were enough. U.S. production rose to 9.252 million barrels a day in the most recent week, the highest since August 2015.
"They drop production, we add production, and so at end of the day it's ugly," said Robert Yawger, energy futures strategist at Mizuho Americas.