American small and medium-size companies that rely on China are scrambling to adjust their business plans in response to the escalating trade war.Traderead more
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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
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
As demand for lab monkeys continues to rise, U.S. scientists are reporting delays in research projects because they can't obtain enough animals, according to the National...Politicsread more
Carl Medlock used to work at Tesla. Now he's one of the few people in the U.S. that can fix the company's original Roadster electric vehicles.Technologyread 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
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
President Donald Trump took to Twitter Saturday in triumph over falling health insurance stocks which, he notes, "which went through the roof during the Obamacare years."
Trump tweeted that the stocks "plunged" on Friday "after I ended their Dems windfall."
The White House announced on Thursday evening that the administration would immediately halt payments to insurance companies that sell Obamacare plans. As CNBC reported, the move is predicted to sharply increase premiums and may cause affected insurers to exit the marketplace.
The payments are worth approximately $7 billion to insurers this year and as much as $10 billion, or more, in 2018. They reimburse insurers for discounts in out-of-pocket costs granted to low-income Obamacare customers, and are required by law.
In August, the Congressional Budget Office estimated that premiums for individual plans would rise by about 20 percent if payments if payments stopped. CBO projections also indicate that such a move would push premiums 25 percent higher by 2020 than they would otherwise be and that the federal deficit could increase by nearly $200 billion.
Trump also tweeted pride on Saturday over an executive order he signed Thursday morning, which he says "will allow greatly expanded access and far lower costs for HealthCare."
The executive order eases the rules that govern health care plans offered by small businesses, as well the rules surrounding enrollment in short-term health insurance plans, which are less costly and comprehensive than plans offered under Obamacare.
"With these actions," Trump said, during the signing ceremony at the White House, "we are moving toward lower costs and more options in the health-care market, and taking crucial steps toward saving the American people from the nightmare of Obamacare."
It's unclear whether the order will have any serious impact on the U.S. health insurance system before Obamacare's open enrollment season begins in November.