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
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
Futures fell after Trump said the U.S. will raise tariffs on more than $500 billion worth of Chinese imports, increasing trade tensions.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
Education Minister Ong Ye Kung says the Singapore government has been preparing for the challenge of an aging workforce "for the past 20 years."Employmentread more
Tax reform will be difficult, but Republicans have no choice but to get it done, a former senior aide to President George W. Bush told CNBC on Thursday.
The Republican tax proposal, unveiled Wednesday, calls for a reduction in the corporate tax rate to 20 percent from 35 percent, collapses the current seven personal income tax brackets to three and doubles the standard deduction for individual taxpayers.
"It has to get done. Republicans cannot present themselves on a ballot next November and not have any major legislative accomplishment," Sara Fagen said in an interview with "Power Lunch. "
"If they don't get this done, it's going to be a very ugly November 2018 and every Republican member of Congress knows that."
After Republicans swept into office this year, they made their first priority the repeal and replacement of Obamacare. However, they failed to get enough votes to secure passage on any of their bills.
However, GOP leaders are confident they will overhaul the tax system. House Speaker Paul Ryan told CNBC on Thursday Congress "really can" get it done this year.
Fagen, a partner at DDC Advocacy and a CNBC contributor, says the chances are high that tax reform will be accomplished but it will likely stretch into next year.