More than 300 companies are talking to government officials in Washington about how detrimental the trade war is.Marketsread more
Powell stresses the central bank's independence in a speech that comes amid continuous pressure from the White House to cut interest rates.The Fedread more
In a text message, Grisham confirmed to CNBC that she will still be working for the first lady even as she takes on her new roles.Politicsread more
Acting Customs and Border Protection Commissioner John Sanders is resigning amid the furor over the Trump administration's treatment of migrant children.Politicsread more
Stocks should rally if the U.S. and China agree to new negotiations and a ceasefire in the trade war, but the economic impact of tariffs will continue.Market Insiderread more
Warren's election reform proposal includes standardized federal election rules, increased federal oversight of elections, and a constitutional amendment guaranteeing voting...Politicsread more
Apple's iOS 13 is coming this fall, but you can already try it on your iPhone with the new public beta. Here are some of the best hidden features.Technologyread more
Even if the debate stage will be more crowded than ever, recent history shows they can reveal the candidates' skills and character - even if the two stand at odds.Politicsread more
Micron beat analyst estimates on earnings and revenue for its fiscal third quarter of 2019.Technologyread more
Investors are piling into gold, sending the precious metal to a six-year high, and analysts think the commodity has established a base to go even higher.Marketsread more
Trump slams Iran on Twitter for issuing a "very ignorant and insulting statement" after the U.S. slapped fresh sanctions on Tehran.Politicsread more
President Donald Trump's assertions about the U.S.-China agreement to pause tariff escalations that emerged over the weekend do not appear to match the White House's official description of the agreement.
Following the conclusion of the G-20 summit in Argentina, the U.S. leader described the agreement brokered with Beijing as "one of the largest deals ever made." He said Chinese President Xi Jinping's government "will be opening up" and "getting rid of tariffs."
The White House, however, did not back up Trump's claims about China ending tariffs, but referred instead to a temporary agreement not to raise them further. And it gave little indication of China "opening up."
In a statement, the White House press secretary said Beijing will agree to purchase "a not yet agreed upon, but very substantial" amount of U.S. agricultural, energy, industrial and other products in order "to reduce the trade imbalance between our two countries."
During the talks at the G-20 meeting, the two superpowers agreed to delay additional taxes on each other's goods for the next 90 days — during which time they will try to overcome difficult differences including "forced technology transfer, intellectual property protection, non-tariff barriers, cyber intrusions and cyber theft."
The president's broad conclusions about the trade agreement also didn't mesh with Chinese state media's more measured descriptions.
The White House did not immediately respond to a CNBC request for comment overnight.
Political watchers were quick to highlight the contrast between Trump's lofty proclamations and the official statement from the White House.
Trump's comments "show his number one priority is the appearance of being a great dealmaker," said Mintaro Oba, a former U.S. State Department official who specialized in the Koreas during the Obama administration. "It doesn't matter to him what the details are, as long as he looks strong to his supporters."
"When it comes to anything associated with him, especially deals, things can't just be good, they have to be best," Oba continued.
Trump is under pressure from American businesses to resolve the trade fight. In September, U.S. companies in China said they were already hurting from the initial $50 billion worth of tariffs, according to a joint survey from the American Chamber of Commerce China and the American Chamber of Commerce Shanghai.
Complaints from American corporations as well as the Republican Party's losses in the midterm elections may be adding pressure on Trump to ease tensions, said David Adelman, former U.S. ambassador to Singapore and adjunct professor at the New York University. "The President seems eager for a deal," he said.
While news of a trade cease-fire was welcomed by the international community, skepticism remains as to whether Washington and Beijing can ultimately reach a solution that leads to a rollback of current tariffs.
"The results of the discussions in Buenos Aires are positive, but contrary to President Trump's enthusiastic comments, did not result in a breakthrough," said Adelman.
Beyond the trade front, Beijing will also more vigorously prosecute fentanyl smugglers, the White House statement said. Fentanyl — a synthetic opioid that is 50 times more addictive than heroin — has been linked to thousands of overdose deaths in the United States. China is one of the world's top producers of ingredients used to manufacture fentanyl, according to the U.S. Department of Justice.
The White House referred to China's new stance on fentanyl as a "wonderful humanitarian gesture."