President Donald Trump said on Monday that China is ready to come back to the negotiating table and the two countries will start talking very seriously.Politicsread more
The escalating trade war between Washington and Beijing dominated discussions at the G-7 gathering in France.Politicsread more
China's state media is putting up a brave front as the country's trade war with the U.S. escalated sharply over the weekend.China Economyread more
The latest round of tariff announcements in the last few days means that by the end of the year, essentially all Chinese goods exported to the U.S. will be subject to duties.China Economyread more
U.S. stock futures surged Monday morning after President Trump said China is ready to come back to the negotiating table following a phone call Sunday and the two countries...Marketsread more
As Washington and Beijing continue to up the ante in their protracted trade fight, the potential of a recession in the U.S. is now "the biggest concern," according to Standard...US Economyread more
Tensions stemming from the U.S.-China trade war escalated sharply over the last few days, with much happening as Asian markets were shut down for the weekend.China Economyread more
Clouding the G-7 gathering, which represents the world's major industrial economies, are the tit-for-tat tariffs between Washington and Beijing.Politicsread more
Neither the U.S. nor China wants to be seen as the party that derailed trade talks, says William Reinsch of Center for Strategic and International Studies.World Economyread more
China said Friday it will be resuming 25% duties on U.S. autos, and a further 5% on auto parts and components.Asia Marketsread more
World leaders, environmental groups and celebrities have publicly decried the vast swaths of forest being destroyed by the fires.World Newsread more
U.S. manufacturing output was unchanged in March after two straight monthly declines, leading to the largest quarterly decrease in production since 2017.
The Federal Reserve said on Tuesday manufacturing production last month was restrained by weak motor vehicle output. Data for February was revised up to show output at factories falling 0.3 percent instead of declining 0.4 percent as previously reported.
Economists polled by Reuters had forecast manufacturing output edging up 0.1 percent in March. Production at factories dropped at a 1.1 percent annualized rate in the first quarter. That was the first quarterly drop since the third quarter of 2017 and followed a 1.7 percent pace of increase in the October-December period.
Motor vehicles and parts production dropped 2.5 percent last month after increasing 2.3 percent in February. An inventory overhang in the automobile sector is weighing on production, contributing to factory employment declining in March for the first time since July 2017.
Excluding motor vehicles and parts, manufacturing output rose 0.2 percent in March after falling 0.5 percent in February.
The outlook for the manufacturing sector, which accounts for about 12 percent of the economy, is cloudy. A survey from the New York Fed on Monday showed a measure of future business activity in New York state dropped to a more than three-year low in April, with companies downbeat about new orders and shipments.
Manufacturing is slowing as stimulus to capital spending from last year's $1.5 trillion tax cut package diminishes. Activity is also being hobbled by a trade war between the United States and China as well as by last year's surge in the dollar and softening global economic growth, which are hurting exports.
The flat manufacturing output in March together with a 0.8 percent drop in mining, lead to a 0.1 percent dip in industrial production in March. Industrial output edged up 0.1 percent in February. It fell at a 0.3 percent rate in the first quarter after rising at a 4.0 percent pace in the fourth quarter.
Utilities output gained 0.2 percent in March.
Capacity utilization for the manufacturing sector, a measure of how fully firms are using their resources, slipped to 76.4 percent last month from 76.5 percent in February. Overall capacity use for the industrial sector fell to 78.8 percent from 79.0 percent in February.
It is 1.0 percentage point below its 1972-2017 average. Officials at the Fed tend to look at capacity use measures for signals of how much "slack" remains in the economy how far growth has room to run before it becomes inflationary.