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
China said on Saturday it strongly opposes Washington's decision to levy additional tariffs on $550 billion worth of Chinese goods and warned the United States of consequences...Politicsread more
The European Union will respond in kind if the U.S. imposes tariffs on France over digital tax plan, EU chief Donald Tusk told G-7.Technologyread more
Stocks dropped after Donald Trump ordered that U.S. manufacturers find alternatives to their operations in China.US 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
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
Recent trade friction between the two Asian powerhouses has morphed into a dispute with political implications that go far beyond the region.Asia 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
His warning follows a North Korean state-controlled newspaper on Sunday accusing the U.S. of "double-dealing" and "hatching a criminal plot" against Pyongyang after Washington abruptly canceled a visit by Secretary of State Mike Pompeo.
The decision to cancel Pompeo's trip appeared to have been made abruptly, coming just a day after Pompeo announced it would happen.
Since Trump's summit with North Korea dictator Kim Jong Un, the U.S. has called off its military exercises with South Korea while China and Russia have softened pressure on North Korea.
"We are worse off than where we were when the summit happened because, in the meantime, China and Russia have alleviated sanctions pressure on North Korea. We've also unilaterally canceled our military exercises with South Korea with our own president even labeling these exercises provocative which certainly unnerved Japan, " said Sean King, senior vice president at public policy and business development firm Park Strategies.
Even during the June summit, King said, both parties seemed to have misunderstood to what the other was agreeing.
"Trump thinks he (Kim) said he will give up his nukes and then we will work toward some kind of peace deal. But in Kim's mind, it is the end of the U.S.-South Korea alliance first and then maybe he will denuclearize, " King said.
King suggested that part of the problem was a difference of opinion about strategy within the White House.
"You have a professional staff that is talking a hard line, and the president feels he could do his own deal based on personal chemistry. It is like we have two parallel administrations and North Korea is trying to exploit that," King said.
Moving forward, King said the U.S. should take a tougher stance against China and North Korea if denuclearization is a priority.
— Reuters and CNBC's Christina Wilkie contributed to this report