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
"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 final week of August could be highly volatile as markets fret over the economy and the latest developments in trade wars.Market Insiderread more
Tesla solar energy systems reportedly ignited at an Amazon warehouse in Redlands, California last June, and the Seattle e-commerce titan confirmed that it has no further plans...Technologyread 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
"I'm relatively sanguine about it. I don't think it will get too much out of hand," Hang Lung Chairman Ronnie Chan told CNBC's "Managing Asia. "
"Twenty years ago, figuratively speaking, China was my height: 5"3. Today, China is 7"1. The U.S. is still 7 "3. But would a 7"3 pick on a 7"1? The answer is probably no," Chan said, noting that he believed China was "very rational" in its relations with the U.S.
As for whether the U.S. President Donald Trump would reciprocate the same level of rationality, Chan said that the "good people" working in the Trump administration were likely to bring about a positive effect.
Trump has softened his China rhetoric of late, reversing his earlier campaign pledge to label China a currency manipulator last month.
"At the end of the day, I don't see U.S. and China relations go out of whack. There are some sore spots ... but I think it's manageable," Chan added.
Hang Lung is one of Hong Kong's biggest real estate developers, with commercial and residential properties in Hong Kong and the mainland. Chan, whose father founded Hang Lung in 1960, is known for being one of the more outspoken businessmen in Hong Kong.
While Chan acknowledged the credit crisis in China, he also said that China had been in a similar situation before and had managed to recover from it. He added that this was due to the Chinese government having ability to "administratively adjust" its economy.
"There will be ups and downs like everybody else, but that's just the nature of the beast," Chan said.
Going forward, Chan said he believed private consumption would pave the way forward for China. "If anything, ... private consumption is going to be an increasingly important driver of the economy," he said.
"You cannot rely on government investment forever and forever. At the end of the day, neither can you rely on exports too much because it's not up to you when the rest of the world slows down."