Trump said he doesn't see a recession after the bond market spooked investors and the Dow suffered its worst day of the year last week.Marketsread more
Ahead of the deadline, U.S. President Donald Trump told reporters that Huawei was a national security threat.Technologyread more
Baidu is gearing up to release its second-quarter earnings on Monday with the market expecting a sharp decline in profit.Technologyread more
Americans now say they approve of free trade by 64%-27%, a margin of better than two to one. That's up from 57%-37% early in Trump's presidency, and 51%-41% near the end of...Politicsread more
Stocks in Asia edged up Monday afternoon as U.S. Treasury yields bounced higher after plunging last week.Asia Marketsread more
The problem with tanking equities lies elsewhere, writes Michael Ivanovitch, because traders see no end to America's unfolding trade disputes with Europe and China.World Economyread more
Beijing wants to use reforms to support a slowing economy.China Marketsread more
Trump said Cook made a "good case" that it would be difficult for Apple to pay tariffs, when Samsung does not face the same hurdle because much of its manufacturing is in...Technologyread more
The yield on the benchmark 10-year Treasury note briefly fell below the 2-year rate on Wednesday, a phenomenon in the bond market known as yield curve inversion, which is...Marketsread more
Despite aggressive strides, Waymo needs one thing before their self-driving cars become a seriously useful transportation system: people. We talked to the ones closest to it.Technologyread more
The hearing will now begin next Monday to allow time for the completion of a previous trial that revolves around former 1MDB unit SRC International, a Kuala Lumpur High Court...Asia Newsread more
President Donald Trump believes his divisive metals tariffs will save the American steel industry — despite any pain the duties have caused so far.
In an interview Wednesday with The Wall Street Journal, the president contended that his trade actions would reduce foreign competition and boost a flagging industry. While steel prices may temporarily be "a little more expensive" — which has prompted criticism from some economists, Republican lawmakers and companies that use steel inputs — the tariffs will ultimately pay off by boosting U.S. companies, the president contended.
He argued that steel plant openings show his tariffs are working and creating a "booming" steel industry, according to the Journal.
Many economists, business leaders and even members of his own party disagree.
Earlier this year, the president imposed tariffs of 25 percent and 10 percent on imports of steel and aluminum, respectively, from most countries. The move prompted blowback from China, the European Union, Mexico and Canada, which put tariffs on U.S. products. The actions led to fears of a trade war that would affect a widening swath of the U.S. economy.
The president has repeatedly promised that any damage to firms that see higher steel costs, or farmers that struggle with lower prices due to retaliatory duties on agricultural products, would only be temporary as he pushes major trading partners to negotiate new free trade deals. He says the moves will also protect American workers hurt by foreign competition.
While some steel companies have opened new plants this year since Trump levied the tariffs, other companies which have seen higher steel costs have announced workforce reductions.