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
President Donald Trump promised again Wednesday to protect coverage for Americans with pre-existing conditions. His repeated pledges ahead of the Nov. 6 midterm elections mask the fact that his administration has backed efforts to undermine the popular Affordable Care Act provision.
On Wednesday morning, the president claimed that Republicans will "totally protect people" with pre-existing conditions, while "Democrats will not!" Trump's tweet was his second this month promising to fight for the protections. Democrats have hammered the GOP over the issue as they try to take a House majority in November's elections.
The ACA bars insurance companies from charging customers more or denying them coverage if they have a health problem before their coverage begins. Even as Trump has publicly backed pre-existing condition coverage, his administration has helped to put the provision in jeopardy. The Justice Department decided not to defend Obamacare in court against a Republican-led lawsuit from 20 states challenging the health-care law's constitutionality.
They argue the full Affordable Care Act does not hold up legally after Republicans scrapped its core individual mandate provision as part of their tax law last year. By declining to defend Obamacare, the Trump administration tacitly supported the litigation, which could lead to the end of the pre-existing condition provision if the states win their lawsuit.
On Monday, his administration also moved to expand access to short-term health plans that may not necessarily cover pre-existing conditions. Health-care advocates also raised concerns that the House's Obamacare repeal plan — which all Democrats opposed as it narrowly passed the chamber last year with GOP support — could weaken the protections. Republicans never managed to repeal the law as the Senate failed to pass its own version of the bill.
Democrats have made health care their top messaging priority as they try to flip the House and numerous governor's offices around the country. Attacks over pre-existing conditions have put Republicans on the defensive. Now, numerous politicians who backed efforts to repeal and replace Obamacare are pledging their support for the provision, which about three-quarters of Americans support, according to a Kaiser Family Foundation survey.
Even a U.S. Senate candidate who signed on to the lawsuit challenging Obamacare — Missouri's Republican attorney general, Josh Hawley — has promised to protect pre-existing condition coverage as he pushes to repeal the law.
It is unclear how Republicans would protect people with pre-existing conditions if they got rid of Obamacare. As Democrats hammer them over health care, GOP lawmakers have proposed bills to shield those patients.
But the proposals have possible loopholes that could jeopardize coverage, according to Politifact.