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
John Bolton, a noted foreign policy hawk, will replace H.R. McMaster as President Donald Trump's national security advisor, the latest move in an ongoing shakeup of the president's top advisors.
In a tweet Thursday, Trump said Bolton, a former U.S. ambassador to the U.N., will take over the post on April 9. McMaster, an Army lieutenant general, "has done an outstanding job & will always remain my friend," the president wrote.
In Bolton, who served as U.N. ambassador for parts of 2005 and 2006, Trump will get an advisor whom experts consider more in favor of military intervention around the globe than McMaster is. For instance, in February, he made the legal case in The Wall Street Journal for a pre-emptive strike on North Korea. In 2015 he wrote an op-ed for The New York Times titled "To Stop Iran's Bomb, Bomb Iran."
In a separate statement, McMaster said he is requesting retirement from the Army this summer, after which he will "leave public service." As recently as last week, the White House denied a string of reports saying McMaster could soon leave.
McMaster's exit is just the latest departure of a top Trump administration official announced in the last two weeks. Larry Kudlow recently replaced Gary Cohn as director of the National Economic Council, while Mike Pompeo is set to replace Rex Tillerson as secretary of State, pending Senate confirmation.
Along with Cohn and Tillerson, McMaster was considered a more moderate voice in the White House who restrained the president's impulses. Bolton, 69, has not only taken a hawkish stance on North Korea but also advocated for scrapping the Iran nuclear deal. He served more than one stint in the State Department and was a fellow at the American Enterprise Institute.
In an interview with Fox News on Thursday night, Bolton said the personal views he has expressed in the past are "behind me now."
McMaster will become the second national security advisor to leave the job since Trump took office last year. He had the task of advising a president who often tweets unfiltered thoughts about delicate national security situations such as North Korea's weapons program and the Iran nuclear deal.
Since taking the position, McMaster has faced criticism from some Trump supporters who have attacked him as a "globalist." McMaster drew Trump's ire last month by saying the evidence that Russia meddled in the 2016 U.S. election is "incontrovertible," following more than a dozen indictments from special counsel Robert Mueller's office. Trump lashed out at McMaster in a late-night Twitter post last month.
"General McMaster forgot to say that the results of the 2016 election were not impacted or changed by the Russians and that the only Collusion was between Russia and Crooked H, the DNC and the Dems. Remember the Dirty Dossier, Uranium, Speeches, Emails and the Podesta Company!" Trump wrote.
Foreign policy observers said Bolton taking over for McMaster will have immediate implications for policy toward both Iran and North Korea. The move is "bad news for those who were hoping the Iran deal would somehow survive," said Harry Kazianis, director of defense studies at the Center for the National Interest.
Ian Bremmer, president of political risk consultancy firm Eurasia Group, tweeted that Bolton's hire makes the proposed meeting between Trump and North Korean dictator Kim Jong Un "far riskier."
Bolton's hiring, combined with Trump's tariffs against China that rattled financial markets Thursday, marks "probably the worst/biggest single day for geopolitical risk" since Eurasia Group's founding in 1998, Bremmer wrote.
CNBC's Amanda Macias contributed to this article.