Organizers claimed that nearly 2 million Hong Kong protesters took to the streets Sunday in a rally to demand the city's top official resign a day after she suspended — but...China Politicsread more
African swine fever, which has already ravaged pig herds in China and pushed up food prices there, could also drive up inflation in the other emerging markets, according to...Asia Economyread more
Consumer goods giant Unilever has taken the unusual step of having some of its marketing staff read their own DNA profiles to see whether finding out about their heritage has...Marketing.Media.Moneyread more
Stocks in Asia traded mixed on Monday as investors await a U.S. Federal Reserve meeting set to happen later in the week stateside.Asia Marketsread more
In the survey, 66% of Democratic primary voters say they'd be enthusiastic or comfortable about Biden as their nominee to take on President Trump in the 2020 election. Just...Politicsread more
Heavy rains caused unprecedented delays in planting this year and contributed to record floods across the central United States.Agricultureread more
Target's registers were down on Saturday for several hours preventing customers from checking out.Retailread more
Although Cook did not mention companies by name, his commencement speech in Silicon Valley's backyard mentioned data breaches, privacy violations, and even made reference to...Technologyread more
U.S. ambassador to Israel David Friedman called the gesture a "birthday present" to Trump, who turned 73 on Friday.Politicsread more
The outlook for Germany's economy and political stability are more uncertain than ever, writes Michael Ivanovitch.World Economyread more
The agreement, which is on the framework for the plan of adjustment, provide for more than a 60% average haircut for all $35 billion, a 36% haircut on pre-2012 general...Bondsread more
The Trump administration's tariffs against China are hurting American consumers instead of resolving trade issues with country, National Retail Federation president and CEO Matthew Shay told CNBC on Wednesday.
"This is like a trillion dollars worth of economic activity potentially subject to tariffs," Shay said on "Squawk Box." "Tariffs don't work, they never worked, and they're not going to work this time either."
Shay was responding to the latest round of tariffs released Tuesday the Trump administration. The 10 percent tariffs, which could take effect in September, targets furniture, handbags, appliances, electronics and beauty products, among other goods.
U.S. retailers have already been hit hard by the administration's import taxes and retaliatory tariffs from Canada, Mexico, China and the European Union. As the catalog of goods facing tariffs expands with each round, retailers have to adapt — sometimes by increasing prices for consumers — without an end to the conflict in sight, Shay said.
Shay compared these troubles to the tax reform policy that President Donald Trump signed into law a few months ago.
"Tax reform made us more competitive," he said. "It encouraged consumption and investment. It was good for American families. Tariffs are exactly the opposite."
Shay said that he hopes the administration will sit down with Chinese leaders to discuss the tariffs and China's intellectual property violations.