Home Depot's CEO says the retailer cut its outlook partly due to "the potential impacts to the U.S. consumer arising from recently announced tariffs."Retailread more
The report comes as Trump in recent days has lashed out over media reports about growing recession fears.Politicsread more
United States Steel Corp will temporarily lay off hundreds of workers at its Great Lakes facility in Michigan in coming weeks, according to a filing the steelmaker made with...US Marketsread more
While the U.S. gave Huawei a 90-day reprieve, allowing American businesses to keep selling specific products to the Chinese firm, it also added more affiliates of the...Technologyread more
The attacks come after state and local ransomware attacks in New York, Louisiana, Maryland and Florida resulted in the loss of significant sums.Technologyread more
GE kicks off a new week after some crazy moves. Two traders urge caution.Trading Nationread more
Porsche and Apple believe music streaming is the next advancement for in-car entertainment. The luxury automaker and tech giant are teaming up to allow drivers of the all-new,...US: Consumer Servicesread more
J.P. Morgan advised clients in a note early Tuesday that it was time to buy shares of Beyond Meat again.Marketsread more
U.K. Prime Minister Boris Johnson told the EU that a Brexit deal can still be approved by U.K. lawmakers if Brussels agrees to scrapping the contentious Irish "backstop."read more
Baidu posted better-than-expected earnings for the June quarter, swinging back to profit and managing to stabilize its core ad business.Technologyread more
An exchange-traded fund based in mortgage-backed securities may provide just the kind of stable income investors need in this market, says ETF.com's Dave Nadig.ETF Edgeread more
(Recasts with new Trump tweet, updates markets)
* U.S. tariff increase on Chinese goods takes effect
* China to retaliate, does not immediately give details
* U.S., Chinese officials end second day of negotiations
* Trump calls discussions constructive
WASHINGTON, May 10 (Reuters) - U.S. President Donald Trump said on Friday trade talks with China would continue even after Washington moved to increase tariffs on Chinese imports, avoiding the worst-case scenario of a complete breakdown in negotiations.
Trump's remarks, which were made in a tweet, followed the end of talks in Washington between U.S. Trade Representative Robert Lighthizer, U.S. Treasury Secretary Steven Mnuchin and Chinese Vice Premier Liu He.
"Over the course of the past two days, the United States and China have held candid and constructive conversations on the status of the trade relationship between both countries," Trump said, praising his relationship with Chinese President Xi Jinping and saying the negotiations would carry on.
"In the meantime, the United States has imposed Tariffs on China, which may or may not be removed depending on what happens with respect to future negotiations!" the U.S. president said.
U.S. stock indexes, which opened sharply lower on Friday, reversed course and were in mostly positive territory in late afternoon trading in New York. Yields on U.S. government debt also drifted higher after the end of the talks.
Earlier on Friday, the United States increased its tariffs on $200 billion in Chinese goods to 25% from 10%, rattling financial markets already worried the 10-month trade war between the world's two largest economies could spiral out of control. China is expected to retaliate.
Trump defended the tariff hike earlier on Friday and said he was in "absolutely no rush" to finalize a deal, adding that the U.S. economy would gain more from the levies than any agreement.
Despite Trump's insistence that China will absorb the cost of the tariffs, U.S. businesses will pay them and likely pass them on to consumers. Consumer spending accounts for more than two-thirds of U.S. economic activity.
It may take three or four months for American shoppers to feel the pinch, but retailers will have little choice but to raise prices to cover the rising cost of imports before too long, economists and industry consultants say.
Trump, who has adopted protectionist policies as part of his "America First" agenda and railed against China for trade practices he labels unfair, has accused Beijing of reneging on commitments it made during months of negotiations.
Following the U.S. tariff hike, China's Commerce Ministry said it would take countermeasures but did not elaborate.
China responded to Trump's tariffs last year with levies on a range of goods including soybeans and pork.
(Reporting by David Lawder, Jeff Mason, Susan Heavey, Humeyra Pamuk and Tim Aeppel in Washington, Tim Aeppel in New York, Yawen Chen, Michael Martina, Ryan Woo, Ben Blanchard and Kevin Yao in Beijing, Xihao Jiang in Shanghai, Philip Blenkinsop in Brussels and Kanishka Singh in Bengaluru; Writing by Paul Simao; Editing by Simon Webb, Bill Trott and Rosalba O'Brien)