The U.S. had plans to hike duties on at least $250 billion in Chinese goods to 30% from 25% on Tuesday. Despite the partial trade deal, some banks on Sunday wrote that tariff...Marketsread more
The industry has pulled in $322 billion over the past six months, the fastest pace since the second half of 2008.Marketsread more
The potential deal would shift Neumann's already diminished voting power to the Japanese conglomerate, according to the Journal.Technologyread more
Hunter's vows to forgo any foreign work follow a slew of unsubstantiated attacks by President Donald Trump accusing him of corruption.Politicsread more
Fisher was initially defiant amid the backlash in an interview with Bloomberg, in which he said he had "given a lot of talks, a lot of times, in a lot of places and said stuff...Personal Financeread more
Airlines continue to delay when they plan to have the planes back again with no sign from regulators on when the planes will be approved again.Airlinesread more
Turkey's invasion of northeastern Syria began Wednesday after Trump ordered U.S. troops to pull back from the area.Politicsread more
While Warren's ad about Facebook isn't true, the company's own policy allows politicians to make such false claims in paid advertising.Politicsread more
Typhoon Hagibis made landfall south of Tokyo on Saturday evening. By Sunday around 376,000 homes were left without electricity, and 14,000 without running water across Japan....Weather & Natural Disastersread more
SpaceX and Boeing are each in the final stages of developing the spacecraft needed for the U.S. to once again fly astronauts.Investing in Spaceread more
Bryn Mawr's Jeffrey Mills believes the market needs more time to break out of its slump.Trading Nationread more
Former Reagan advisor John Rutledge thinks "it's possible for a trade deal to get done right now" despite the stark differences he sees between the United States and China, he told CNBC on Friday.
The Safanad investment chief confirmed on CNBC's "Closing Bell" that he recently had a "private meeting with the Cabinet" to advise them on the ongoing negotiations between the two countries.
He said he was unable to reveal the meeting's attendees, who are rumored to be top White House advisors Larry Kudlow, Kevin Hassett, Mick Mulvaney, Robert Lighthizer and Ivanka Trump.
"What I told the group was that you have to understand that China is not Kansas," Rutledge said. "Their institution's different, their politics is different and so forth. But I really think that it's possible for a trade deal to get done right now. Both sides need it, and the Chinese economy, in particular, is very weak, and they have a credit crisis underway that's really causing damage to the private firms. So if you're going to get something done, this is the right time to do it."
Rutledge, who also advised former President George W. Bush, laid out some of his predictions for the deal, which he said would likely be finalized by the U.S. and Chinese delegations rather than the two presidents.
He envisioned the two sides scrubbing the March 2 tariff deadline and presenting a deal "that includes easy things" like the Chinese government agreeing to buy more U.S. soybeans and to fix how it handles U.S. companies' intellectual property. CNBC confirmed Friday that China has committed to buying $1.2 trillion in U.S. goods.
"What we're not going to see is [an agreement for China to] give up industrial policy, abandon the [state-owned enterprises] and so forth," he said. "And, you know, they're having a constructive discussion, I think, about ZTE, Huawei, telecom, 5G and all that."
"I think it is up to the teams to do this and that the presidents will meet in March for a photo op, not for a deal," he said. "It's important for both guys in a negotiation to go back home and say they won."
Positive trade headlines drove stocks higher on Friday, with the Dow Jones Industrial Average logging a 9-week winning streak and retaking the 26,000 milestone. U.S. tariffs on $200 billion worth of Chinese goods are set to rise to 25 percent from 10 percent on March 2 if the countries are unable to make a deal.