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
Older Americans are being unfairly targeted in the Republicans' health-care bill, AARP told CNBC on Monday.
Under the new legislation, insurers would be allowed to charge older adults up to five times more than younger people. Under Obamacare, rates were capped at three times more.
"Right now, health care is barely affordable for those people who are over age 50. Raising it any more is just what we call an 'age tax' and would just make it unaffordable for them," David Certner, legislative counsel and legislative policy director for government affairs at AARP, said in an interview with "Power Lunch. "
And while there are currently tax credits in place to help offset costs, the current bill reduces those tax credits, he noted. "There's a double whammy here."
Senate Republicans released their bill, called the "Better Care Reconciliation Act of 2017 " last week. On Monday, they released changes to the legislation, including a six-month waiting period for people who have let their insurance coverage lapse for more than 63 days.
Among other things, the bill calls for younger people to pay less of a share of their income toward their individual health plans compared with what they pay now under Obamacare. Older adults would end up paying a larger share of their income.
Jeff Miron, director of economic studies at the Cato Institute and legislative policy director for government affairs at Harvard, believes it's the right policy to make the system work efficiently.
"Letting the insurance premiums reflect the riskiness of the people who are being insured across different ages or possibly other groups is entirely rational," he told "Power Lunch."
While he acknowledged the policy would be bad for those who are already elderly, he pointed out that over a long period it wouldn't necessarily harm anyone.
"When you're young you'll pay the relatively low rates. When your middle age you'll pay somewhat higher rates and when you are old you'll pay the very high rates. But on average that should be the same for everyone," Miron said.
"It is only current near elderly who are going get particularly penalized by this transitional effect," he added.
The bigger issue, said Certner, is what can be done to control the cost of health care.
"Everybody wins, no matter what the age is if we help hold down health-care costs in this country," he said. "The bills that have been put forward by both the House and the Senate do absolutely nothing to address the underlying issues of high health-care costs and high prescription drug costs."
— CNBC's Bertha Coombs, Dan Mangan and Reuters contributed to this report.