Blackstone Executive Vice Chairman Tony James says he's less optimistic now than before that the U.S.-China trade war could be resolved, but even a smaller deal could help...World Economyread more
The massive market transformation this month that some on Wall Street called a "once in a decade opportunity" might have just been a one-off technical move because of taxes.Marketsread more
The Pentagon will deploy U.S. forces to the Middle East on the heels of the attack on Saudi Arabian oil facilities, United States Secretary of Defense Mark Esper announced...Defenseread more
CNBC did a deep dive through the most recent Wall Street research to find stocks that analysts say are underappreciated.Marketsread more
Shares of MasterCard are up 46% this year, and 1120% since 2011, getting a boost from the strong U.S. consumer.Investingread more
CNBC sat in on an "empathy training" at Amazon PillPack's Somerville offices, which is part of new hire orientation.Technologyread more
Trade with China is the 'big unknown' for the Federal Reserve as it decides how best to support the U.S. economy, says Council on Foreign Relations Director of International...Futures Nowread more
Lobbying experts said the visit is likely an attempt to be in lawmakers' ears as they consider legislation that would impact Facebook.Technologyread more
Yardeni Research's Edward Yardeni believes the U.S. economy is picking up steam.Trading Nationread more
Iran's audacious drone and cruise missile attack on Saudi Arabia's oil producing facilities has provided a critical test yet for the Trump administration's foreign policy. A...Politicsread more
The United States' top trade negotiator lacks evidence against China, veteran economist Stephen Roach told CNBC Tuesday.
Therefore, investors need to assess the situation carefully, he said.
The former Morgan Stanley Asia chairman blasted U.S. Trade Representative Robert Lighthizer's Section 301 investigation, released in March, as making a number of "unsubstantiated" claims that President Donald Trump used to impose tariffs on $250 billion worth of Chinese imports.
Lighthizer is Trump's top advisor in the China trade discussions.
"I have to reluctantly say that this report makes a very weak case in trying to justify tariffs and the risk of a trade war," Roach said on "Squawk on the Street."
The Yale University senior fellow was also critical of the Trump administration's accusations of China forcing tech transfers, having predatory M&A policies and cyberhacking. Roach says that "there's no evidence whatsoever" China forced tech transfers through joint ventures. Plus, the data does not prove it uses predatory M&A practices and there is no new evidence of China cyberhacking since 2015, he argued.
"We need to be much more fact-based, which is always a problem, I think, with the Trump administration," Roach said.
He said investors are worried about where talks with the country could lead.
Initially, U.S. stocks rose after Trump and Chinese President Xi Jinping announced a 90-day cease-fire in the trade war. However, Roach said uncertainty lingered about the direction of negotiations. China said it would purchase a "substantial" amount of U.S. products in industries such as agriculture, energy and industrial, but details about those buys have not been revealed.
Trump also went as far as to remind the public that he is "a Tariff Man" if a deal is not reached.
"Once the bounce has concluded, now we really have to be careful in assessing where these negotiations are about to go," Roach said.
Stocks fell sharply Tuesday, with the Dow Jones Industrial Average tanking about 644 points as of midday. The was down more than 3 percent, and the Nasdaq Composite was dragging more than 3.5 percent. Investors are now concerned about a bond-market action that could signal a possible economic slowdown, as well as the uncertainty around U.S.-China trade.
— CNBC's Fred Imbert contributed to this report.