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
Pelosi, joined by House Majority Leader Steny Hoyer, D-Md., House Majority Whip James Clyburn, D-S.C. and House Ways and Means Committee Chairman Richard Neal, D-Mass., will huddle with U.S. Trade Representative Robert Lighthizer in the afternoon. They will primarily address the president's updates to the North American Free Trade Agreement but will likely discuss the widening trade war with China as well, according to the aide.
The meeting comes as Pelosi and top House Democrats show reservations about approving an updated version of the North American Free Trade Agreement, which Trump has dubbed the United States Mexico Canada Agreement. They have expressed concerns about whether the deal has sufficient environmental and labor protections. They have also worried about whether certain provisions could increase drug costs.
Pelosi has shown no rush to bring the agreement to the House floor for ratification. When asked last week about how far away an approval vote is, she said "we're as far away as getting an enforcement agreement."
The meeting also follows escalations in the trade war between the U.S. and China. After the Trump administration hiked tariffs on $200 billion in Chinese goods last week, Beijing retaliated by raising duties on $60 billion in American products. The move raised fresh concerns about damage to American businesses — particularly farmers — and higher costs for consumers.
Pelosi has agreed with the broader aims of Trump's push to crack down on what he calls Chinese trade abuses. Last week, she said "the president is correct in asserting what we have to do with China." But she contended his tactics are "empowering [China] to hurt our people."
The House speaker has said she has a good relationship with Lighthizer, who led the administration's North American negotiations and heads its talks with China. The U.S. trade representative is seen as more aggressive on China trade policy than Treasury Secretary Steven Mnuchin.
Former Trump advisor Steve Bannon — who helped to inspire the president's 2016 campaign pledges to target Beijing — told CNBC he thinks the president and Lighthizer are on the same page.
"There's no gap between Lighthizer and President Trump," Bannon said Wednesday. "Lighthizer is the guy that does the execution."