Morgan Stanley analysts said the reduction was driven by concerns around Chinese demand for Tesla products.Autosread more
Alphabet Inc's Google said Tuesday that keeping phones up to date and secure was in "everyone's best interests," shortly after the U.S. temporarily eased some trade...Technologyread more
Home Depot on Tuesday reported fiscal first-quarter earnings that beat analysts expectations, despite a damp start to the spring in much of the U.S.Retailread more
Indian billionaire investor Rakesh Jhunjhunwala says he's very upbeat about his country's growth potential after the country underwent a massive banking crisis and the rollout...Asia Economyread more
There's more pain ahead for the U.S. and China amid their bilateral trade dispute, according to one expert.China Politicsread more
You know there's an underlying problem when investment firms start to cut exposure to a particular asset class.Commentaryread more
While Trump's lawyers had argued that the committee's subpoena did not have a legitimate legislative purpose — and was therefore invalid — Mehta took a broader view.Politicsread more
The issue of corporate debt has surfaced as companies continue to use the low rates the Fed has provided to lever up their balance sheets.The Fedread more
A record 257.4 million travelers are expected to opt for U.S. airlines for travel this summer, the 10th consecutive annual increase, a trade group forecast on Tuesday.Airlinesread more
The announcement comes amid a wave of store closures across the country this year.Retailread more
The U.S. can institute tariffs on foreign goods without sparking a global trade war, a senior White House economic official said Thursday.
In slapping tariffs on steel and aluminum, the Trump administration is acting in the nation's economic and national security interests and not looking to provoke, Peter Navarro, director of the White House National Trade Council, said in a CNBC interview.
"Our allies have got to understand that we're simply defending ourselves against what's been an unfair relationship for many, many years," Navarro said on "Squawk on the Street. " "This is going to work out fine. The world's going to be a better place."
Navarro spoke after President Donald Trump earlier this month announced 25 percent duties on steel and 10 percent on aluminum. Along with the tough trade talk, though, came an assurance that other nations will be able to take advantage of carve-outs so long as they negotiate deals that are more friendly to the U.S.
Markets, though, have been on edge about the possibility of retaliation from other trade partners.
"He's firm but flexible," Navarro said of the president. "This administration has cut taxes, has done tremendous deregulation, we've unleashed our energy sector. We're working hard to restructure the trading environment that works not just for Americans but for the rest of the world."
The administration has railed against the trade deficit with the rest of the world, which now stands at about $57 billion as Americans consume more than they produce.
That thinking, though, has been challenged by economists who see the tariffs as protecting some jobs in the near term while threatening a greater number in the longer term.
"It's courageous what [Trump's] doing, because he's taking such heat from the swamp and all the usual suspects. Right now, it's not fair," Navarro said.
In addition to addressing the tariff controversy, Navarro spoke about the appointment this week of Larry Kudlow, a CNBC senior contributor and longtime economist, as head of the National Economic Council.
"I find him to be a smart, warm individual. He's going to come here and be a team player and it's going to be great," Navarro said of his new colleague. Trump "needs diverse opinions. I think it's a great choice. Everybody here is going to welcome him with open arms and we're looking forwards not backwards."