After Elon Musk touts Tesla solar on Twitter, Walmart sues the electric vehicle and clean energy company over store rooftop panels that ignited.Technologyread more
The bond market has entered a financial twilight zone, and at this point, there doesn't seem to be a smooth way out.Market Insiderread more
Trump said he has "been thinking about payroll taxes for a long time" — and he cautioned that "whether or not we do something now, it's not being done because of recession."Politicsread more
Secretary of State Mike Pompeo privately told business executives and free traders that the trade war could end by the 2020 election and that hurdles to an immediate agreement...2020 Electionsread more
Market bull Jeff Saut told CNBC on Tuesday that the lows are in and the market is headed "much higher."Marketsread more
The company's stock seesawed after the markets closed Tuesday, initially swinging up by 4% before falling by about 2%.Retailread more
President Donald Trump believes he has quite the bargaining chip with the European Union.Marketsread more
The United States does not have a defense against hypersonic weapons, which can travel at least five times the speed of sound, or a little more than a mile per second....Defenseread more
See which stocks are posting big moves after the bell.Market Insiderread more
The Federal Reserve has lost control of interest rates as evidenced by the federal funds rate trading higher than any part of the U.S. Treasury yield curve, Jeffrey Gundlach,...Marketsread more
Some Apple employees have become disillusioned with the group's culture, where some have thrived while others feel sidelined.Technologyread more
Commerce Secretary Wilbur Ross told CNBC on Thursday that his department's investigation of imported cars will determine whether "abuse of trade tactics" could harm the U.S.
"National security is broadly defined to include the economy, to include the impact on employment, to include a very big variety of things," Ross said in a "Squawk Box " interview. "Economic security is military security. And without economic security, you can't have military security."
The Commerce Department said late Wednesday it started an investigation into whether the surge in automobile imports over 20 years threatens to "impair" national security by "weakening" the U.S. economy.
President Donald Trump asked Ross to carry out the probe, which will be executed under Section 232 of the Trade Expansion Act of 1962. Trading partners expressed alarm about the possible tariffs that could result in a disruption in the auto industry around the world.
Ross told CNBC that market share of imported cars has gone from 30 percent to 48 percent.
"There are over 8 million cars imported each year into the country," he said. "Part of the reason for the big imports coming in as opposed to our exports going out is we only have a 2.5 percent tariff on autos and auto parts."
Ross said he doesn't blame foreign countries, adding "they're doing what is best for them."
"The stupidity is that we let ourselves get into this box of extremely low rates," he said.
The Commerce Department under Ross recommended imposing heavy tariffs or quotas on foreign producers of steel and aluminum in February in the interest of national security. Ross said at the time that steel is important to U.S. national security and that current import flows are adversely affecting the steel industry.
Following the steel and aluminum tariffs, 20 plants in the U.S. have opened or reopened, Ross said, adding the tariffs are having the desired effect.
Before joining the White House, Ross made a fortune in the investment world, running W.L. Ross & Co., and buying stakes in distressed assets.