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
The initiative lets drivers give their friends a referral code to get six months of free charging via Tesla's Supercharger network.
Musk said the move was aimed at reducing costs incurred by the scheme. "It's adding too much cost to the cars, especially Model 3," he said.
The premium electric auto manufacturer has made a number of cost-cutting moves of late, as it looks to boost margins and expand profitability. Late last month, the firm cut prices on its Model 3 car in China, while this week it discontinued the lowest-priced versions of the Model S sedan and Model X SUV.
In its last quarterly report, the company scored its first profit in two years, posting net profit of $311.5 million and $881 million in free cash flow.
The firm managed to pump out 86,500 vehicles in the fourth quarter, up from 80,142 in the previous quarter, but disappointed investor expectations when it came to deliveries.
The company is also trying to up its presence in China, and Musk recently broke ground on a new Gigafactory — the name given to the facilities where lithium-ion batteries and Tesla vehicles are produced — which is being opened in Shanghai. The factory, dubbed the Gigafactory 3, is slated to begin partial production in the second half of this year.
That move comes not only as a spate of domestic rivals — including Nio and Xpeng — look to challenge Tesla's dominance in the electric vehicle space, but also as the U.S. and China try to resolve their differences over trade.
A trade battle between the two superpowers has seen billions of dollars' worth of each other's imported goods targeted with new tariffs, and both nations are trying to reach a trade agreement during a 90-day truce.