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
Stocks dropped after Donald Trump ordered that U.S. manufacturers find alternatives to their operations in China.US Marketsread 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
"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
"I would love this to be clarified. We come to a deal on trade, boy, this market is up 10 to 15%, but without it's going to be worrisome," Jeremy Siegel says.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
Tesla solar energy systems reportedly ignited at an Amazon warehouse in Redlands, California last June, and the Seattle e-commerce titan confirmed that it has no further plans...Technologyread more
The death comes as federal and state health officials investigate a slew of lung illnesses in connection to e-cigarette use.Health and Scienceread more
Secretary of State Mike Pompeo on Monday said oil prices did not and will not influence the Trump administration's response to the killing of Saudi dissident Jamal Khashoggi.
Pompeo's remarks, made in an interview with CNBC's Wilfred Frost, come three months after Saudi agents killed the Washington Post columnist in the kingdom's consulate in Istanbul, Turkey. In November, President Donald Trump declared the United States stands with Saudi Arabia, even though the CIA has reportedly concluded that Saudi Crown Prince Mohammed bin Salman played a role in the slaying.
At the time, Trump linked his stance to Saudi Arabia's help taming oil prices, as well as its role countering Iran in the Middle East and its pledge to buy more American-made weapons.
"Saudi Arabia, if we broke with them, I think your oil prices would go through the roof. I've kept them down. They've helped me keep them down," Trump told reporters after issuing a statement spelling out his support for the Saudi government.
One day later, Trump thanked Saudi Arabia for taking steps to lower oil prices and implored the kingdom to push them even lower.
Asked whether low oil prices influenced the administration's response, and whether Trump might take a tougher stance if the Saudis let oil prices rise, Pompeo said, "They're disconnected."
"We've taken a very clear message to the world with respect to the murder of Jamal Khashoggi," Pompeo told CNBC. "This was a heinous act. It's unacceptable. It's inconsistent with the way nations ought to behave around the world."
Concerned about rising gasoline costs, Trump called on Saudi Arabia and OPEC to pump more oil throughout 2018. Between June and November, Saudi Arabia sharply hiked oil production, helping to knock the cost of crude from a four-year high.
In October, oil prices plunged, with U.S. crude falling from nearly $77 to about $54 a barrel when Trump issued the statement.
Two weeks after Trump issued the statement, the Saudis reached a deal to launch price-boosting production cuts with fellow OPEC members and allied oil producers, including Russia.
The administration's response to Khashoggi's killing has drawn fire from both Democrats and Republicans on Capitol Hill. Last month, the Senate voted to halt U.S. military assistance to Saudi Arabia for the war in Yemen. Senators also voted unanimously to hold Crown Prince Mohammed responsible for Khashoggi's death.
Pompeo on Monday defended the administration's stance, referring to its move to sanction 17 people linked to Khashoggi's death.
"We've told the Saudis that we've held Saudi citizens accountable for the murder of Jamal Khashoggi. We will continue to do so as new facts arise," Pompeo said.
"At the same time, we're going to continue to do the things that protect the American people, and that includes a deep and lasting relationship with the kingdom of Saudi Arabia."