As tensions might drag over the next decade, investors have to learn to operate under prolonged uncertainty, said Warburg Pincus' Charles Kaye.World Economyread more
Billionaire investor Howard Marks, the co-chairman of Oaktree Capital, predicts there won't be a recession in the U.S. for another two years.US Economyread more
Network officials also said voters should expect more of a Koch focus on grassroots activism throughout the 2020 election cycle.Politicsread more
One person was killed and five others wounded on Thursday in a shooting on the streets of Washington, D.C., not far from the White House, police said.U.S. Newsread more
Stores are extending hours and cities are spending on light shows as China tries to encourage consumers to spend more money at night.China Economyread more
New research suggests fewer girls pursue careers in STEM — science, technology, engineering and math — because they're better than boys at reading.Closing The Gapread more
Stocks in Asia Pacific edged up on Friday as investors digested a series of developments overnight on the U.S.-China trade front that dampened hopes of a deal being reached...Asia Marketsread more
GM's usage of temporary workers, potential closure of plants and health care contributions remain major sticking points, according to people familiar with the talks.Autosread more
In a room full of avowed capitalists, policies that sound to some like socialism are bound not to go over well.Delivering Alpharead more
Trump has criticized Facebook numerous times since becoming president, most recently posting on Twitter that the company's proposed digital currency, libra, will "have little...Technologyread more
Republicans and Democrats have long since separated themselves by ideology, leaving each more uniformly conservative or liberal than ever. And now a new data analysis by the...Politicsread more
"If there is a deal — if and when there is a deal, it will be on President Donald J. Trump's terms. Not Wall Street terms," Navarro said from the Center for Strategic & International Studies in Washington, D.C.
"If Wall Street is involved and continues to insinuate itself into these negotiations, there will be a stench around any deal that's consummated because it will have the imprimatur of Goldman Sachs and Wall Street," he added.
Navarro, known for his hawkish economic views toward China, has encouraged President Trump's tough talk with Beijing throughout an escalating trade war between the two countries. Both economic powerhouses have imposed and threatened tariffs on billions of dollars' worth of each other's goods.
Trump "has had the courage and wisdom to stand up to the globalist elites, to stand up to the countries of the world that are engaging in unfair trade practices," the trade advisor added. "Donald J.Trump has done an amazing job of addressing that issue and he didn't need the help of Wall Street. He didn't need the help of Goldman Sachs. And he doesn't need it now."
Gary Cohn, the former top national economic adviser, argued against imposing tariffs on China. Cohn was formerly the president and chief operating officer of Goldman Sachs.
Navarro also disparaged "unpaid foreign agents" and their "so-called diplomacy" in an apparent critique of those who have advised the president to settle with Beijing. "All they do is weaken this president and his negotiating position. No good can come of this," he said
Navarro's comments come ahead of a widely-anticipated meeting between Trump and President Xi Jinping of China, an encounter economic advisors to both nations hope could provide an opportunity to calm the trade tensions. The meeting is set for the Group of 20 leaders' summit in Buenos Aires at the end of November.
The White House slapped tariffs of 10 percent on $200 billion of Chinese products in September, with the duty set to increase to 25 percent in 2019 notwithstanding a trade agreement. In response, Beijing said it would impose taxes on 5,207 U.S. imports worth about $60 billion.
The two nations had already imposed tariffs on $50 billion of each other's goods before the September sanctions.