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 panels ignited at an Amazon warehouse in Redlands, California in June 2018, Bloomberg reports. The news comes days after Walmart sued Tesla for at least 7 fires...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 top House tax writer said Tuesday that House and Senate Republicans will likely scrap Obamacare's individual mandate in their final tax bill.
"Yeah, I believe we will," House Ways and Means Committee Chairman Rep. Kevin Brady, R-Texas, said when asked if the joint plan would get rid of the provision requiring most Americans to have health insurance or pay a penalty.
Brady's statement appears to resolve one of the key differences between the separate tax legislation passed by the House and Senate. The Senate bill would effectively repeal the mandate, while the House proposal would not.
Brady is set to lead an expected conference committee, during which lawmakers from both chambers will try to strike a joint agreement. Brady discussed other potential sticking points in the plan during an interview on CNBC's "Squawk Box. "
The House has previously voted on its own to strike down the individual mandate.
Dropping it was initially considered politically perilous. Doing so would lead to 13 million more Americans uninsured over a decade and raise average health insurance premium prices by about 10 percent, according to estimates from the nonpartisan Congressional Budget Office.
Repealing the provision did not sink the Senate bill or alienate the three GOP senators who voted against Obamacare repeal earlier this year. Scrapping it helps Republicans to save money on a bill which, in earlier forms, would increase budget deficits by $1 trillion or more over a decade, according to the congressional scorekeeper Joint Committee on Taxation.
On Monday, House Majority Leader Kevin McCarthy also outlined where he stood on multiple possible sticking points for the bill.