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
The move is part of a broader package of measures proposed by the U.K. government in a green paper aimed at making the internet safer.
While the green paper acknowledges that social media companies are taking action to combat bad behavior online, Downing Street believes a levy could help the situation further.
"We believe that more needs to be done and that it is right that all companies should be involved and encouraged to play their part. This is the reason we will introduce a levy, to help us combat online harms," the paper said.
"As we develop plans for the levy's delivery, we will seek to ensure that it is proportionate and does not stifle growth or innovation, particularly for smaller companies and startups. And we will make sure it does not disincentivize tech companies investing in the U.K."
The paper says that the levy will not be a tax on social media and will be voluntary. But it does not rule out underpinning the levy with legislation if needed.
Facebook did not comment directly on the levy proposal but said it is happy working with the U.K. government.
"Our priority is to make Facebook a safe place for people of all ages which is why we have spent a long time working with safety experts like the U.K. Safer Internet Centre, developing powerful tools to help people have a positive experience on Facebook. We welcome close collaboration between industry, experts and government to address this important issue," a spokesperson for the social network told CNBC by email Wednesday.
Twitter did not give a comment when contacted by CNBC but instead pointed to its current efforts to combat online abuse. The company is taking down 10 times more abusive accounts everyday compared with last year, for example.
Britain's government also proposed a new social media "code of practice" aimed at a joint approach to addressing bullying and humiliating online content. Alongside this, an annual report detailing the progress made could also be possible.
"Behavior that is unacceptable in real life is unacceptable on a computer screen. We need an approach to the internet that protects everyone without restricting growth and innovation in the digital economy," Karen Bradley, the U.K.'s digital, culture, and media minister, said in a press release.