American small and medium-size companies that rely on China are scrambling to adjust their business plans in response to the escalating trade war.Traderead 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
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
The world's second biggest economy is past a point where it cannot ignore its enormous debt anymore, according to an analyst.China Economyread more
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
As demand for lab monkeys continues to rise, U.S. scientists are reporting delays in research projects because they can't obtain enough animals, according to the National...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
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
White House trade policy advisor and China hawk Peter Navarro will be attending a crucial meeting between President Donald Trump and Chinese President Xi Jinping this week, a White House official confirmed to CNBC.
His addition to the dinner could be seen as a signal to the Chinese that trade hawks are ascendant inside the administration. Word of his attendance sent the Dow Jones Industrial Average briefly to its low of the day.
The news was first reported by the South China Morning Post. The newspaper had reported last week that Navarro would not attend the Xi-Trump meeting.
The closely watched dinner during the G-20 summit in Buenos Aires this week should provide some answers in the escalating trade war between Beijing and Washington.
The two countries are still in the process of finalizing the list of advisors who will take part in the meeting, the South China Morning Post said. The world's two largest economies have struggled to reach a trade deal and de-escalate tensions that have led to increasing tariffs.
Navarro has taken an aggressive stance toward any changes in the U.S. trade relationship with China. Earlier in November, he said a potential deal with China "will be on President Donald J. Trump's terms. Not Wall Street's terms." He added that "there will be a stench around any deal that's consummated" because of Wall Street's involvement. The comments helped drag stocks lower that day.
Trump's top economic advisor, Larry Kudlow, disavowed Navarro's comments, telling CNBC "he was not speaking for the president, nor was he speaking for the administration."
"I think Peter very badly misspoke," said Kudlow, who took over as director of the National Economic Council earlier this year. "He was freelancing, and he's not representing the president or the administration."
The White House did not immediately return an email requesting comment.
Trump has pushed for Beijing to make changes to reduce the U.S. trade deficit with China, and to address alleged Chinese theft of American intellectual property. The president has threatened to put tariffs on another $257 billion in Chinese imports, in addition to the duties already in place on $250 billion in goods.
In response, China has said it would slap taxes on 5,207 U.S. imports worth about $60 billion. The countries had imposed tariffs on $50 billion of each other's goods before sanctions in September.