Trump said he doesn't see a recession after the bond market spooked investors and the Dow suffered its worst day of the year last week.Marketsread more
The U.K. prime minister prepares to meet his German and French counterparts this week.Europe Politicsread more
Amazon is raising seller fees for thousands of small and medium-sized businesses in France because of a new digital tax passed by the French government.Technologyread more
U.S. stock index futures point to a higher open on Monday morning as the White House sought to calm investors over growing concerns about the U.S. economy.US Marketsread more
Ahead of the deadline, U.S. President Donald Trump told reporters that Huawei was a national security threat.Technologyread more
Bianco Research's James Bianco suggests Wall Street is desperately looking for a signal that a 50 basis point cut is coming next month.Trading Nationread more
Baidu is gearing up to release its second-quarter earnings on Monday with the market expecting a sharp decline in profit.Technologyread more
Americans now say they approve of free trade by 64%-27%, a margin of better than two to one. That's up from 57%-37% early in Trump's presidency, and 51%-41% near the end of...Politicsread more
Stocks in Asia rose on Monday as U.S. Treasury yields bounced higher after plunging last week.Asia Marketsread more
The problem with tanking equities lies elsewhere, writes Michael Ivanovitch, because traders see no end to America's unfolding trade disputes with Europe and China.World Economyread more
Beijing wants to use reforms to support a slowing economy.China Marketsread more
Vice President Mike Pence told CNBC on Friday that Democratic presidential hopeful Joe Biden is "advocating a socialist agenda," just like others vying to take on President Donald Trump.
In an interview with CNBC's Eamon Javers, Pence took multiple shots at his vice presidential predecessor, the frontrunner among more than 20 Democratic candidates, while contrasting their goals with Trump's legislative agenda.
"I think the choice that we face in this country today is a choice between freedom and socialism," Pence said in the interview in his office. The vice president touted Trump as an advocate for policies including lower taxes and regulations and "better fair trade deals."
He said Biden, along with Elizabeth Warren and self-described democratic socialist Bernie Sanders, are "advocating a socialist agenda of more government, higher taxes and the same tired policies that created the malaise of the last administration where we saw less than 2% economic growth." The U.S. economy in fact saw annual growth near 3% at the peak of Obama's presidency — or above 3% depending on the metric used.
Lumping Biden with some of the most progressive voices in the race under the umbrella of socialism may be intended to harden moderate Republicans against the former vice president, as well as stoke additional infighting within the Democratic field, where the candidates are jockeying to lock down different voter bases.
Biden's campaign did not immediately respond to CNBC's request for comment. A spokeswoman for Pence had no additional comment beyond the vice president's on-air remarks.
Pence's remarks cut directly against Biden's campaign rhetoric, in which he frames himself as a unifier and a more moderate choice among the pack of 2020 candidates. Despite Biden's frequent attacks on Trump's character and policies, he is poised to deliver a speech in Philadelphia in mid-May addressing how to bring the politically polarized country together.
Pence also criticized Biden for his recent comments downplaying China's economic threat to the U.S. "China is going to eat our lunch? Come on, man," Biden said at a campaign stop in Iowa on Wednesday.
"While we hear one of the latest candidates for president ... say that China doesn't represent a competition of the United States, you know they're half of our international trade deficit," Pence told CNBC. "And forced technology transfers and intellectual property theft are a reality."
The Trump administration has been locked in what it suggests are the final stages of negotiations with China on reshaping the trade relationship between the world's two economies. When asked about recent reports that a deal may be coming as early as next week, Pence said the "negotiations are ongoing."
"I think President Trump remains very hopeful," Pence added.