Analysts say the partial U.S.-China trade deal doesn't touch on thorny issues plaguing both sides, and warn talks could break down again.World Economyread more
"The Champagne should probably be kept on ice, at least until the two presidents put pen to paper," said state-owned media China Daily.Traderead more
Economists polled by Reuters had expected Chinese exports denominated in the U.S. dollar to fall by 3% and imports to decline by 5.2% in September, compared to a year ago.China Economyread more
The U.K. and EU are gearing up for what could be the busiest week in British politics since June 2016.Europe Politicsread more
The U.S. had plans to hike duties on at least $250 billion in Chinese goods to 30% from 25% on Tuesday. Despite the partial trade deal, some banks on Sunday wrote that tariff...Marketsread more
The industry has pulled in $322 billion over the past six months, the fastest pace since the second half of 2008.Marketsread more
A technical recession occurs when there are two consecutive quarters of economic contraction.Asia Economyread more
"Deepfakes" are being used to depict people in fake videos they did not actually appear in, and can potentially affect elections, diplomacy and how markets move, experts say.Technologyread more
Chinese President Xi Jinping warned on Sunday that any attempt to divide China will be crushed.China Politicsread more
Syria's Kurds said Syrian government forces agreed Sunday to help them fend off Turkey's invasion.World Newsread more
U.S. President Donald Trump said that both sides reached a "very substantial phase one deal" that will address intellectual property and financial services concerns and...Asia Marketsread more
President Donald Trump wants to make sure China doesn't start manipulating its currency again, Treasury Secretary Steven Mnuchin said Tuesday.
In a tweet Monday, the president accused Russia and China of "playing the currency devaluation game," even though a Treasury report said the countries were not manipulating.
"It was a warning shot at China and Russia about devaluation. China has devalued their currency in the past," Mnuchin said in an interview on CNBC's "Squawk Box." "They've used a lot of their reserves to actually support the currency. The president wants to make sure they don't change their plans, and he's watching it."
Mnuchin also addressed global issues including pending tariffs the White House has announced against China and other trading partners.
Mnuchin declined to speculate whether Trump would opt to join the Trans Pacific Partnership trading agreement, saying only that the president wants to keep negotiating in hopes of getting terms more favorable to the U.S.
"I'm cautiously optimistic," and you'll know when we have a deal," he said.
On a separate issue, Mnuchin said rising economic growth will help pay for a temporary shortfall in tax receipts.
"We're now at a point where we're comfortably within our 3 percent or higher sustained economic growth," he said. "The difference between 2.2 and 3 percent will pay for the tax cuts."
Congress passed a White House-backed bill in December 2017 that slashed the corporate rate from 35 percent to 21 percent and rolled back rates for millions of Americans.
Critics say it will blow a hole in the federal budget, and the Congressional Budget Office last week said the deficit will reach $1 trillion by 2020.
However, Mnuchin and other administration officials maintain that while tax receipts may be slow at first, the accelerated pace of growth will more than make up for the difference.
"We're seeing very strong economic growth," he said. "We literally have met with hundreds of executives, small companies, big companies, and thousands of workers. We're beginning to see the impact of the tax cuts, specifically people investing large amounts of money back into the United States."